The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-02-21
SHOCK IN WALL STREET
GRAVITY OF THE MAINE DISASTER
REALIZED BY OPERATORS
The Feeling Is, However, That the
Result of investigation Should Be
Waited fOr-Gratifying Increase
I'm Export Trade During January
Henry CIevs' Weekly Review.

NEW YORK, Feb. 2O-In his week
ly review of the financial situation.
Henry Clews says:
Taking the past week as a whole,
1t has been sufficiently Influenced by
experimental selling operations to hold
in check the improving tendency due
to opposite factors. There is still a
range Of prices admits of a further de-
cline, but they make only transient
successes in their attempts to force 1t.
Apart from the general bullish feeling
of outside operators, the foreign mar
ket is showing decidedly more DISPOSE
ton to buy since the Improvement in
the China situation, which is factor
now daily felt on the market.
The chief element of disturbance has
been the Maine disaster. The sudden
ness and gravity of the occurrence pro-
duced a very severe shock in Wall
street, and all the more so from its
appalling mystery. The existing deli
cate position of our relations with
Spain and the public feeling excited by
the De Lone incident and the uncer-
tainty whether the Spanish govern
ment might make a due amende in
that case furnished material enough
for suspecting that some hot-headed
Spanish or Cuban partiSanS might be
either seeking revenge or hoping to
precipitate war suspicious which
strongly appealed to the patriotic SEN
timent of all classes. This was as trOng
test of the stock market, under which
prices declined at first about. one point.
Succeeding this first impulse came
series of reports and official opinions
which preponderated largely in favor
of the prOba ability that the sad disaS
ter was due to some unexplained &C
cident, rather than any wicked design;
and, since Wednesday, the public tenn
per has settled into willingness to
hold judgment in suspense until divers
have examined the vessel and the ma
ture and cause of it's destruction have
been passed upon by an official inves-
tigatiOn. There is, however, still
reservation on account of the POSSIBLE
Hy that the official inspection may sug-
geSt or reveal malicious causes of the
disaster; and this unsolved doubt is
likely to hang over the market until
it is disposed of by an official report.
Apart from this even, Wall street
again begins to show some uneasiness
on the Cuban question. Another dry,
or military, season is now approach
ing its close; the experiment of autOn-
omy may prove a failure; the Spanish
forces have accomplished but made
Quate results as yet towards the sub
jugation of the insurgents; and thus
another year has passed without the
accomplishment of the extinction Of
the rebellion. Meanwhile our govern
ment continues subject to heavy eX-
pense in the maintenance of its neu-
trail obligations and our people suffer
from a heavy loss of trade with the
island, while the sufferings of the Gu
bans continue to appeal to our humane
Sympathies.
The administration is reticent as to
It's future action; and congress shows
less zeal and energy but it is suspect
lot &c 70
derstanding between the adminstra-
ton and the Republican jingOes which
is satisfactory to the latter. The I'M
certaintes as to the outcome about
Cuba may suffice to produce a more
or less unsettled feeling in Wall street
until further light is thrown on the
prospect and until after the Maine in
vestigation and the complete settlement
of the De Lone incident and the reel
prOcity negotiations.
Instead of the disaster to the war
ship Maine bringing on a war between
this country and Spain, it is more like
ly to have a contrary effect, as it will
be the means of causing reflection on
the part Of our lingo members of con-
gress and making them more rational.
1t will serve to show them what war
means in the destruction of life and
property. This shocking disaster Wipes
out 600 of property and sends to
eternity 213 human beings in an in
slant. If it should be found that the
cause of this disaster was a torpedo,
1t goes to show, in the event of actual
war with Spain, what thousands OF in
furiated men could accomplish as
measured by the act of one man who
fired the torpedo at the Maine We can
no more contrast former conflicts on
land or sea with conflicts hereafter, in
their humiliation of life and property,
h9 n aoro OH do
Is it desirable then for this country