Evening journal., 1898-05-19
DUN'S WEEKLY REVIEW.

Hosailities have lasted long enough to
kill many predictions, If but few Amer
leans. The European notion that the
United States would begin by having
a bad half hour, the theorists notion
that everybody knows a great panic
must follow the outbreak of war" THE
commercial buyers notion that every
body would be ready 10 sell every
thing cheap If war came, the notion
that it would pay to hoard money until
the emergency had passed, have all been
made iauljhable already. The only
panic was when money lenders were
wondering what deadly impOssibilities
the unknown might have in store for
thsm. The only hindrance of industry
he's been due to waiting OF buyers who
looked for lower prices. American
fleets are complaining only because the
Spanish armada has been more invisi-
bile THAN inVincibls. Actual business
Through clearing houses has been 9.8
per cent. larger THAN in 1892 outside
New York, and 1873 per cent. larger
here. and at an points for the month
26.3 per cent. larger than last year.
Railroad earnings for April have
been 1853 per cent. larger THAN last
year. and 9S per cent. larger than In
1893. Eaisbbound tonnage from Chicago
has been 81 075 tons, or 56 per cent.
larger than in 1892 Spectators who
calculated on a bad half hour Tor
Americans paid on Wednesday an aver
a.ge OF S1.51 per Share more for rail-
road stocks than n week ago, AMID
s2.O5 more for Trusts, and since their
dismal predictions the day war Was de-
clared. the average advance In rail-
road stocks WAS 1851 per share, Though
closlng % cents Tower. The foreign
apeculators who sold 100000 shares
carly in the week. and bought 10000
later, had a bad half hour them
selves.
In harsher form The same experience
has come TO unbelievers in American
prosperity who sold what they did mot
own. Years CT experience had pade
ah.em believe that S1.20 was a price
for wheat which could not be held at
New York, and foreign and other sales
above that point were large. But the
highest regular quotation for twenty
five wears was reached at Si.H this
week. Though for No. 2 Milwaukee 81
wis paid in 1877. The reaction to
s1.5OIk was not surprising in view OF
Western receipts. which we're 1888, ,761
bushels during the week, against p
165. .622 a year ago. but Atlantic eX-
ports of 3,O50,4 442 bushels, against l.
S.742 last year, -four included. and
Pacific exports of 376, ,249 against 300.-
147 making in two weeks 5,90l ,29O
bushels. against 3,5O6,5S4 last year,
show a foreign demand gneater than
had been expected. French duties were
suspended and Russian exports nomi-
nally though not yet actlially stopped
hut more convincing than either as to
foreign necessities were the exports OF
6,141 ,297 bushe.s corn during THE
week ana 1861 146 in two weeks,
against 5 ,5S6 ,855 last year.
Nothing disheartening can be seen in
THE industrial situation except This
closing OF some cotton mills owing TO
over-producton, and the fall OF print
cloths to 1877 cents. Cotton has not
risen above 637 cents and many stories
Of reduced acreage are current, as a
wear ago. but they do not weigh much
In view on actual receipts OF 10.500,00O
lbales The sales Cf wool have been
only 1905 900 pounds at the tlhree chiel
markets for two weeks. against A.
$50, 400 last year. and II 1.216, $50 in 1892
but Tfdces are somewhat more firm
amid There is more demand for good:
apart from The large government or
ders. The demand for boots and shoe.
having passed all records in recent
months has abated, and yet many
orders are coming forward, amid JUS