The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-03-21
ONE CLOUD in The SKY
LABOR DISPUTES THREATEN TO RE-
TARD BUSINESS ACTIVITY.
Railroad Congestion II Removed and
Railway Earnings Show an Increase
The Weeks Bank Clearings.

NEW YORK, March OR. G. Dun &
Co.'S weekly review of trade tomorrow
will say:
Only one distinctly unfavorable factor
is reported in the business situation, and
1t exists more in the fear Of what may
happen than through anything that has
actually occurred. Several strikes are in
progress, but none that seriously hampers
industry, although many controversies are
threatened and may interrupt trade unless
agreements are speedily reached. Progress
has been made in relieving traffic blockades
and deliveries are more prompt, yet railway
facilities need much extension If they are
to keep pace with the Nations growth.
Jobbing trade is very large and the ad-
vancing season stimulates retail sales in
many lines. Reports from the West are
especially satisfactory. Agriculturists are
making extensive improvements, notably
in the purchase of the most modern ma
chinery; buying of spring and summer mer-
chandise is heavy for the Interior and mills
are resuming that have long been idle be-
cause coke could not be secured. care
full canvass of building operations at the
leading cities makes a fair comparison with
last year, outside of Chicago, where spe-
cial conditions caused exceptional activity
in 1902. Returns are unanimous in dis
ever, which was the banner year in this
respect High cost of material and wages
Of labor are undoubtedly retarding infiu-
ences at the present time. Railway earn
ings thus far available for March show
an increase of LAG per cent. over last year
and 26.1 per cent over 1901.
Prospects in the iron and steel industry
are still conspicuously encouraging Only
two drawbacks of serious Importance are
seen-railway congestion and labor disputes
The former has greatly diminished with
weather i0 ,nxroI alx,
to blast furnaces. while pig iron and other
products reach their destination with less
interruption. Quotations fully held at
Pittsburg, and a large purchase of Besse-
| mer iron for delivery in the last half of
the year is still under consideration Some
| wire products and cast pipe are advanced in
price, and as many mills are unable to de-
| liver billets for several months. steel is
| still purchased freely. Pig iron is continu-
| ally arriving from abroad and finds a ready
| market.
Textile markets are only fairly active
| buying at first hands for home account be-
ing on moderate scale and forward bust
| ness indifferent except in the case of few
| specialties. Internationally the undertone
| of the cotton goods market is strong. De-
| mand for heavyweight woolens has de-
| creased. most new orders being for the
| cheaper grades. More cancellations of early
| orders are reported Much better conditions
| prevail in the dress goods market both as
| to staples and fancies.
| New England shoe shops report increased
| sales, Western jobbers placing orders for
| August and September delivery Leather is
more active and tanners are not carrying
| surplus stocks. The market is in a healthy
condition. Another general reduction is
reported in domestic hides, but foreign dry
hides average higher. despite larger re-
ceipts.
Failures this week numbered 20 In the
| United States. against 200 last year, and
| twenty-five in Canada against thirty-one a
year ago
Bradstreet summarizes the grain move.
ment as follows: Wheat dncluding -four
| against 1856. 1876 bu last week. 1926 3O4 bu ir
this week year ago and 8, 256 GA bu in 1901
Wheat exports since July ! aggregate no.
046,52s bu. against 19l f94. $50 bu last season
gregate 800. O6S bu. against 1857, 999 bu las
week. Ss9. SOL bu = year ago and 2.6060e1 b.