The San Francisco call., 1898-05-09
OUR GUNS AND BUSINESS.

IHEN Dewey destroyed the Spanish fleet in lH Manila harbor week ago he did more than sink dozen men-of-war and batter down as many forts He gave trade throughout the United States mighty stimulus, which is just becoming ap- parent All commercial reports from the East now abound with allusions to the impetus given to all sorts of business by those deadly American guns In the hrst place, the result of the battle became known there influx of buying orders in Wall street for both long and short accounts, London being large buyer, and told that "a of national strength and energy was immediately developed. and that the commercial munity has come to the conclusion that the possible effects of the have already been discounted ex- cept perhaps in few lines"
 Nor is this all Industries have received wonder ul stimulus from the conviction that the war will not last long, and that it will go our way. Besides the great demand for steel plates and other iron products and ammunition the Government has ordered 2,5oo- yards of woolen cloths I25ooo blankets 5000 ooo yards of cotton goods and great quantities of prov- sions and other supplies and meanwhile revivng hdence has multiplied other demands In addition to these items the iron trade has been stimulated by large orders for the construction of warships and merchantmen for foreign countries. Those works which produce steel rails, plates, farming utensils etc., being pushed to their utmost capacity, and some refusing orders. Textile works have also received heavy orders besides those from the Government and the wool market Is showing the effects of this by more seadiness than it has exhibited for some tme with slight increase in sales. The sensational ad- in wheat also helps things along, for high wheat always goes hand in hand with general pros perity
 All these things tend to revivy trade throughout the whole country. The railroads be deriving their share of the benefits for there has been an od, ;, { C. little exhibition of Americansm in Manila harbor a few days ago. The business failures are again smaller those for the week being 24o against PAS for the preceding week The bank clearings, however, dropped down to gain of only per cent over the week last year. this being the smallest increase for time. Still told by Bradstreets that "evidences accumulate that the has finally been turned in the trade situation, and that circumstances which have hitherto been regarded as disquieting have begun to give way to cheerful conditions or are beginning to be recognized in and more reasonable light. While it is claimed, and perhaps with justice in many cases that the changes yet noted are largely sentimental, and little that is tangible is to be cited in the direction of improvement be forgotten that the duness and depression ruling for time past likewise largely sent- mental and 1t is beginning to be admitted by many had less of basis to rest upon than the present unmistakable signs of improvement
 So much for the country at large On this coast there are few new conditions observable Wheat con- tnues to attract general attention by its ground and lofty tumbling, the advance last week being sharp enough to satisfy almost anybody Merchandise con tinues in steady demand and almost all fluctuations in the direction of higher prices The staple gro ceries are all firm and higher figures are announced for quicksilver cordage and several kinds of ols the advance in the two first being directly caused by the
 
 dried and canned fruits at rising prices, advanced quotations for several descriptions of provisions and a wonderful market for all kinds o grain, mllstuffs any hay In fact throughout the whole long list of commodities quoted in the market reports of The Call meat is the only line that shows decline and this is due to the dry weather, which has caused free shipments of cattle and sheep this market for want of sufficient pasturage. There slight break in hay few days ago, but this local and momentary being due to excessive receipts from out side the State in one day.