Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1898-03-17
THE BUSINESS SITUATION.

following review OF business conditions:
Continued activity in nearly all Inca
Of diBtributive trade, but mere par
ticularly ut the larger cities OF the
West, South and the far Northwest
continues to he the most favorable
feature coming under notice. Other
favorable featuroa include the heavier
foreign demand for wheat and flour, as
indicated by increased exports ovsr
last week and last year, and bank clear;
ings heavily exceeding corresponding
periods Of previous years, though
smaller than in recent weeks. Less
favorable features are few, numbering
| chiefly weaker tone in prices of few
| staples hitherto markod by extreme
iirmnesa. The volume of business in
| the iron and steel trBde 10 reported very
large, with relatively best reports com
ing from tho West Bank clearings in
| the United States this week aggre
eating 81, 282, 600, II per cent smaller
than last week, but 80 per cent larger
than the like week last year. &c per
cent larger than ia 1896, and so per
| cent larger than in 1894. The record of
price movements in February was full
az encouragement to the producers of
the country's staples, particularly so
because Of the predictions freely made
that the immense current production of
staples is bound to unfayorahly affect
| quotations. OF l08 staple articles 30,
or slightly more than une-half advanced
during the month, while unly ID do
cined. Larger wheat and flour, hut
smaller corn shipments are featurs
of export trade this week. The total
exports of wheat, flour ipcluded, from
the United States and Canada this week
aggregated 4, aSI. 7Gl bushels, against
3. 2o2, DOB bushels last week, l. 500, 4S2
bushels in tho corresponding week OF
1897, =, 401, 200 bushels in 1896, 2,79l,
leo busnlea in 1895 and 3.25S, $50
hushela in 1891. Corn exports are
smaller, amounting TO only 3, 3s3, O56
hushes. against 5054, 600 bushels last
week, 5,3l0, 5li bushels in this weBk Of
1897, |, T0S, 000 bushels 10 1896 and SS2
600 bushels in 1898. The total earnings
of LOG railroad companies for February
} aggregate S'}S, BIG, 600, an increase OF
1872 per cent over February year ago,
and compare with gain in January
! on a considerable larger total Ut earn
ings Of ID per cent.
: RIG. Dun Sc Co. q Review issued Sat
urday, says: ''rhe vote giving the Presi
don't discretionary power to apply any
part of $50, 900. 600 as he may think lit
before next January to national de-
fence, is the most impressive display OF
hearty unity and uniiinching patriotism
that has been made by this or any
, other country for many years. That
: it will prevent hostili;les 10 not certain,
but the course of markets proves that
it is clearly thought probable in other
countries as in this. The financial
powers of Europe, which are able to
/ atarve into peacefulness almost any
: government, may not be able to restrain
a mob in Madrid or Havana, but will
strain every nerve to keep the peace II
! they can. 1t is most gratifying that ne
industry or branch Of business shows
any restriction or hindrance, but some
! have been rapidly gaining for the past
= week and month. The railways are
} gaining, even while speculators are
: selling their stocks, and the demand fol
products of all the great industries ia
increasing. Mure gold is coming from
\ Europe than ia needed, and money
. markets ara nowhere alarmed or Htrin
gent, though reasonably more cautious
The country rests assured that its in
dustries, almost all its business, th'
g foreign demand for itB products ant
= practically all it's resources are beyont
| tut TbtCh VA dbJ iotoiBs Apho't 49,
!, 70 that it's honor and foreign interests pr
: in aafe hanlH Exports of prncipa
- products in February were $6l, ga, %
!. 10 value, with increase over last yea
i about 80 por cant In breadstuffs, 20 pc
% cent in cotton, and 20 per cent in tn
4 aggregate"
y The New York stock market dutini
= the week has reflected the various
!. changes OF sentiment regarding gu
relations with Spain. On Monda.
y there was severe break on tho nav
! that Spain had requested the recall o
y, General Lee. A reaction set in when i
% was known that this country had re
: fused to recall the consul general an
~ % that Spain had withdrawn the request
. Tie voting of $50, 600, 600 for defenc
"a was regarded as strengthening tn
- chances of peace, and this imparte
,s snme firmness 70 prices. The marko
thereafter became very'dull and irregu
lur and continued 40 until yesterday
when there was return Of eXtrom
weakness, due iii part 10 the decline @
Spanish bonds, which was thought {
70 reflect European belief that war wa
y imminent. Ninety stocks closed 1sa41
y ner cent lower, no less than twelve sui
" feripg a loss of 2 per cent and over
- There IL a general belief that the mar
Ket will he unsettled as long as tn
~ present uncertainty exists.