The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1891-04-28
LETTER FROM SAN FRANCISCO.
An EpitOme of the Leading Matters of
Latest News.
SAN FRANCISCO, April 2ist, 1891.

ANNtNN NcWS.
SAN FRANCISCO, April 2ist, 1891.
There is very little news of gen.
eral interest stirring, but the air is
full of rumors from abroad of
troubles to come. The Italian ques-
ton still excites some little degree OF
interest, but no one thinks that the
Peninsular Kingdom will risk HOSTILE
ties with the United States. Never
theless home politics may render it
necessary or expedient for the Ru-
DIM Ministry to make display Of
patriotism on behalf of the cut-throat
ruffians who emigrate from the old
Kingdom of the Two Sicllies to Am
erica, but beyond this irritating and
unsatisfactory stand it is not at all
likely King Humbert's government
will 90. 1t is "between the dell and
the deep sea-" to quote homeIy
Scotch proverb. On the one hand
is the Vatican which is only waiting
chance to humlliate the secular
power of Italy and restore the tenn
poral power of the Papacy; on the
other hand, France stands ready to
attack Italy; while the finances of
the kingdom are in very bad state
and the people have become impa-
tiept of taxation. War with the
United States would mean national
bankruptcy for Italy, an invasion by
France, possible uprising of the
clerical party in the south of the
peninsula, and the disruption of the
Dreibund, followed by general
European war. Just what kind of
international settlement would be the
issue of such struggle it is not
possible to predict, but one thing is
pretty sure, namely, that Italy will
hesitate long time before precipi-
tating such contest and closing the
American market to her people, and
very possibly also to her allies.
1t IS pretty generally conceded
that there will be a European war
before many months pass. The
great powers are playing for time
and sparring for "cholce of corners"
as it were, and when ready to fight
they will strike qui ckly. England
has another trouble with Portugal on
account of its aggressive attitude in
Mashonaland, East Africa. The
Portuguese detained the English
mail, fired on and captured two mail
steamers and imprisoned part OF
their crew. They also pulled down
the British flag, and did other very
needless and foolish things for which
Lord Salisbury is about to call them
to account. 1t may result in Portu-
gals expulsion from Eastern Africa,
and It's entire absorption by the
British.
The Chilean gunboat Pilcomayo,
which recently visited Honolulu, [
think, has been sunk by a torpedo
fred from an improvised torpedo
boat at Valparaiso, and all on board
are said to have persisted. The tor
pedo-boat stole out of the harbor
under cover of night while the block
aiding squadron was kept engaged by
the forts, and coming from the sea,
got close to the Pilcomayo, discharg-
ed the torpedo, blew the gunboat out
of the water and ran the blockade
safe under the guns of the fort. 1t
was intended TO blow up one of the
greatest ironclads, but fortunately
for her the gunboat was fated to re-
ceive the blow. All northern Chile
is in the hands of the insurgents,
who have been accorded belligerent
rights by the great powers. The
British admiral has been instructed
to disregard Balmaceda's proclama-
ton closing the nitrate ports. This
is moral victory for the rebel fleet
and Congress. Germany acts in
unison with England in this matter.
There is great distress throughout
Chile.
1t is needless to say that great
European war would benefit the
United States enormously. At pres
ent the demand for breadstuffs from
Europe has doomed wheat, and
speculation is very active in our Pro-
duce Exchange. The Call Board
wheat market opeEed yesterday
morning very firm and higher: The
English market had advanced rapid
ly, and New York and Chicago were
active and excited. In France wheat
futures advanced at a wider range
than for some time past. The fuc-
tuations of prices of the different
options during the day at San Fran
cisco were as follows:
Option Opened Highest Closed
Buyer 9l.....$l rs 81 8S4 81 SS4
Buyer after
August lst.. n SO SO
Buyer season II SC ! Sc
Seller '9l..... l 664 10 l 20
August ....... l Isl l75 70
The closing prices of principal
options yesterday, as compared with
those of April LIST, were as follows:
Option April lst Yesterday
Buyer '9l ........$l 54B 81 Ssh
Buyer after August
LIST ............,,. l Oh L So
Buyer season. ...... l 54s l Sc
These quotations show the nervous