The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-05-07
TURN OF THE LANE.
Wars Depressing Influence ON
Business
Has Given Place to Renewed
Confidence Since
VICTORY AT MANILA.
Money Becomes Easier and
Prices Go Higher.
With the Exception of Cotton
and Wool.

New York, May 7.-Bradstreets says:
Evidences accumulate that the corn
er has finally been turned in the trade
situation, that circumstances which
nave hitherto been regarded as disqui-
et1ng have begun to give way to more
cheerful conditions or are beginning to
be recognized in truer and more
reasonable light. While it is claimed,
and perhaps with justice in many cases.
that the changes yet noticed are largely
sentimental and little that is tangible
is to be cited in the direction of inn
proVement> it is not to be forgotten
that the dullneSS and even depression
ruling for some time past was likewise
largely sentimental, and it is now be-
ginning to be admitted by many, had
even less of basis to rest upon than
the present unmiStakab1e signs of i'm
provement. A new sense of national
strength and energy seems unQues-
tionab1y to have developed since the
news of the American victory at Manila
and the business community generally
with few exceptions would appear to
nave come to the conclusion that the
possible effects of the present war have
been already we'll discounted.
Among the more favorable features
OF the week have been the slightly cas-
Ter tone in the money market and a lit
tie more disposition on the part of the
financial institutions to accommodate
legitimate demands of trade. Another
has been the very general foreign recog-
milton of the critical position of wheat
odpp1lSS III the towering the SuSD0n-
sion entirely of import wheat duties
notably in Italy, France and Spain, and
rejected in advances proportionate to
the import duty reduction in those
countries. Prices, both at the sea board
and at the interior, have broken all
records for many years past, while the
eagerneSS of foreign buyers to take hold
at the advances furnishes testimony to
the fact that the present wheat corner
is not due Entirely to the fear of inter-
ruptions in supplies, nor yet to the sue
cessfu1 projection of a wheat corner,
but to a considerable extent to foreign
recognition of the fact that the world s
wheat stocks today are smaller than
they have been before for years past
and that some time must yet elapse be-
for the admitted ly good worlds wheat
crop prospects find expression in new
supplies.
OF considerable Importance in the di-
rection of actually stimulating business
IN some lines are the large orders re-
ceived for equipment and supplies of
all sorts for military use, nota bly, in the
lines of cotton and wooden goods shoes
sorts.
1t, of course, would be useless to deny
that there are some unfavorable feat
ures in view, notably in the cotton and
cloths have again struck the lowest
price on record, with a quotation of
1 15-16c for standard grades, and the
wooden manufacturing industry is, as a
trast with these reports, chiefly coming
from the eastern and middle states
cities, are the sales of a considerable
quantity of raw wool, said to be for
the manufacture of goods ordered by
the government.
The wheat exports for the week re-
fleet the temporary check to demand,
caused by sudden advances in price and
show a falling off, aggregating 2,478,775
bushels against 4,449.0 900 bushels last
week, 1,799,00 bushels in this week a
year ago, 1882, 900 bushels in 1896, and
2,805, 900 bushels in 1895.
Corn exports are larger this week
than for more than year past, aggre-
eating 6.164, 900 bushels, against 4,316 900
bushels last week. 3,127, 900 bushels in
this week a year ago, 1891, 600 bushels in
1896, and 934 900 bushels in 1896.
Business failures are slightly smaller
this week, aggrega ting for the United
States 240, against 245 last week, 228 in
this week a year ago, 267 in 1896, and
in 1909