Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-05-12

New York, May 7.-R. q. Dun says
that state OF war WAS SO greatly
dreaded by those who had seen moth
Ing like it for more than 80 years that
its coming has hurt less than its
apprehension. Specially since the
victory at Manila. which indicated the
superiority OF the American navy the
expectation that war will not last long
has influenced ali markets. and stocks
have advanced. The general condi-
ton OF business has been materially
improved. The one days work by the
officers ana men at Manila has given
many days work To thousands OF peo-
pie at home of whom they knew moth
ing, and placed all American indus
tries and interests on q stronger foot
ing for any conceivable future. The
most sensational of all changes, and
the most practically important. has
been the rise in wheatl3 cents dur
ing one days session. The remark
able rise Thursday was largely due to
the removal OF duties by France and
to the prohibition OF exports by Rus
STA, both showing extraordinary needs
abroad, SO that the rise of 251a cents
for the week is not without excuse.
The industries have received a Won
dorlul stimulus from the conviction
that hostlities will not last long and
from heavy government orders. Be-
sides great demand for iron products
and ammunition, the government has
ordered 100000 yards OF WOODEN
cloths, I25,000 blankets, 5000 900 yards
OF cotton goods, great quantities OF
provisions and other supplies, and
meanwhile reviEing confidence has
multiplied other demands. Orders
from the Russian government for two
big warships have been taken by the
Cramps, and others for rails from
Mexico have given a good start TO iron
works. -Four large merchant ships
have been ordered from the Delaware
works; the plate mills are crowded
and one establishment far in the in
terror Is bidding on a foreign order
for 5000 tons. while car and rail works
continue to receive large orders, and
demands for agricultural opponents
and fencing go far beyond The ability
OF the works. Woolens declined about
half cent in April. Print cloths
have again made a new low record.
$l.9i cents. but better market is
seen for other cotton products. The
failures in tho United States for the
week were 238 against 22l last year.
Bradstreet's says that evidence ac-
cumulate that a corner has finally been
turned In the trade situation and cir
cumstances which hitherto have been
regarded as disquieting have begun
tlons or are beginning to be recognized
in truer and more reasonable light.
a new sense OF the national strength
ana energy seems unquestionably TO
have developed since the news Of the
American victory at Manila and the
business community appears to have
come TO the conclusion that the pos
sible effects Of the present war have
already been discounted. Among
the more favorable features is the
easier tone in the money market and
a very general feeling Of recognition
Of the critical position Of wheat sup
plies IN the lowering or suspension
Df import wheat duties, notably In
Italy, France and Spain. Prices both
1T the seaDoard and in the interior
have broken all the records for many
years past, while the eagerness OF for
aign buyers to take hold at an advance
testimony TO the fact that
wheat stocks are smaller than for
many years past. The wheat exports
or the week aggregated 2,47S.775
bushels against i.799,00O for this
week year ago and 1.SS2,00 ia 1896.
jorn exports have been larger than
or more than year, aggregattng
$4,000 bushels against 3,127 coo last
ear and 1891 900 in 1896, The total
'ank clearings in the principal cities
4 the United States for the week
we're sl,17G72s, 100 an increase Of 5
er cent compared with the eortA-
ponding week last year