The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-05-07

Features In the Situation.
NEW YORK. May 6.-Bradstreet's
VIII say: Evidences accumulate that
the corner has finally been turned in
the trade situation and that circum-
stances which have hitherto been re-
Sarded as disquieting have begun to
give way to more cheerful conditions
or are beginning to be recognized In a
truer and more reasonable light. While
1t Is claimed, and perhaps with justice
In many cases, that the changes yet
noted are largely sentimental and that
little that Is tangible is to be cited in
the direction Of improvement. it is not
to be forgotten that the dullness and
even repression ruling for sometime
past was likewise largely sentimental,
and, 1t is now beginning to be admitted
by many, had even less of q basis
TO rest upon than the present unm;s-
taxable signs of Improvement
A new sense Of national strength and
energy seems unquestionably to have
developed since the news of the Amer
lean victory at Manila, and the business
community generally, with few excep-
tons, would appear to have come to
the conclusion that the possible effects
or the present war have been already
discounted.
Among the more favorable features
OF the week have been the slightly
easier tone in the money market and
little more disposition on the part
OF the financial institutions to accom-
modate legitimate demands of trade.
Another has been the very general
foreign recognition of the critical posi-
ton of wheat supplies, in the lowering
or the suspension entirely Of import
wheat duties. notably in Italy. France
and Spain, and reflected in advances
proportlonate to the import duty re-
duction in those countries. Prices, both
at the seabOard and at the interior,
have broken all records for many years
past. while the eagerness Of foreign
buyers to take hold at the advance fur
nish testimony to the fact that the
present wheat corner is not due entirely
to the fear Of interruption in supplies,
nor yet to the successful projection Of
a wheat corner, but, to a considerable
extent, to foreign recognition of the
fact that the worlds wheat stocks to-
day are smaller than they have been
for many years past, and that some
time must yet elapse before the adj
mittedly good worlds wheat crop pros
poets find expression in new supplies
OF considerable Importance in the di-
rection of actually stimulating bust
ness in some lines are the large orders
received for equipment and supplies Of
Oil SUI Is AOI military use, notably IN
the lines Of cotton and wooden goods,
shoes, projectiles and ammunition Of
various Sorts
1t, of course, would be useless to deny
that there are some unfavorable fea-
lures in view, notably in the cotton and
wooden industry.
The wheat exports for the week re-
fleet the temporary check to demand,
caused by sudden advances in prices,
and show falling off, aggregating g.
47S,775 bushels, against 4,449,000 bushels
last week; 1,799.000 bushels in this week
a year ago; 1,882,000 bushels in 1896 and
2S05, 900 bushels in 1895. Corn exports
aggregate 6,164,000 bushels, against
4,316,000 bushels last week, 3,127, 900
bushels in this week a year ago, 1884,
900 bushels in 1896 and $4,000 bushels
in 1895.
Business failures are slightly smaller
this week, aggregating for the United
States 24O, against 245 last week, 22S
in this week a year ago, 267 in 1896 and
224 in 1885,