New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-16

other fact which had much influence was the
enormous increase in exports of corn, showing
| foreign readiness 10 take great quantities VI
| tina. grain in place Of wheat at high prices, so
| that f. 263 $50 bushels have been exported IN
two weeks against 6.GU31S bushels wheat,
-four ir cluded In April 900 bushels OF
| wheat went out -four included and % 749 50C
| bushels corn, and in the ten and half months
| OF the crop year exports have been 1S2 0Gs $50
bushels wheat -four included with lI6 $40 10
bushels corn, including meal So, while corn
rose to Ala cents and closed at 4oS' cents
wheat fell after shorts had covered from 81 81
! to 81 40
The influence of this unprecedented movement
| of breadstuffs can hardly be overestimated. For
breadstuffs alone the bill against the outside
world was $27 427 100 for April. making 1851
800. 1888 in ten months. and for all the principal
| products SCI .6i6.S1J in April and $500 402 494
in ten months. increase over last year OF
| S2il. 100000. 1t is due to political compca-
lions In Europe. and apprehensions sprnging
from the remarkably vigorous statements of Mr..
Chamberlain. that foreign exchanges were not
| more strongly favorable and the movement Of
| gold larger. The amount received during the
week was $2.O73.067. but European bankers have
induced customers to sell here American
curites In large amounts in order to lessen the
drain Of gold, and leave those banks stronger
to meet European emergencies, and the heavy
loss which such sales a rising market involves
will not prevent eager purchases of the same
securities. so readily absorbed here during the
last two weeks. when they have gone higher.
The railroads are doing so well that selling
really needs an excuse in foreign conditions.
Earnings In April exclusive OF the great gains
on Mexican and Canadian lines which render
the ordinary reports little deceptive, still show
| an increase of 100 per cent over last year. and
9.S per 1892. The reports OF many
lines exhibit state OF prosperity such has
rarely been surpassed nor have hostilities
rested Industrial or commercial activities,
many feared. Exchanges ut New-York rise and
fall with speculation in stocks, the first week in
May smaller and the second week larger, but FOR
the two weeks Of May exceeding those of 1892
by per cent. But the exchanges at other prin-
cipa cities gain more steadily, and FOR two
weeks have been Il per cent larger than In
1892 every city but two showing Increase
Production OF pig iron. 234.1G3 tons weekly
May T. against 233 239 April l. l1OJ2S year
ago and III. $50 in 1892 mus, be interpreted
in the light OF an Increase in April OF 23.5lG
tons in known stocks unsold outside the great
steelmaking companies. which are all the time
consuming more than they now produce. But
doducting the Increase. apparent consumption in
April was 81 100 tons daily against 5000 tons
daily FOR the four months since January l. War
demands cause part but only part. Of The in
crease. Enormous sales OF wheat and corn and
cattle are followed by unprecedented demands
for agricultural implements and fencing. FOR
new buildings in Western towns. new bridges
and on Western railroads. and new rails.
Prices changed last week only In a slight rise
Ot BesseIner pig
The small sales ~ wool by no means rep
the state OF the manufacture. since few
OF tnr works have discontinued. though they
grades. The cotton mills have taken more
bales FOR consumption this year than ever be-
fore which Is their mistake. since IN. demands
have not proved sufficient 20 clear away their
great accumulatlons OF siock. and print cloths
have made new low record a. Isl cents. sey-
eral works having stopped for time. In boots
and shoes however. while the heaviest orders
known for this season had been booked
before MAY J. more are constantly coming. and
while actual shipments from the East this year
20 date have been 1000 cases larger than in
any previous year the shipments IN May are
sim II per cent larger than In 1892 Leather Is
also "A shade stronger. with larger sales and
hides advanced last week at Chicago an average
OF per cent The truth il that Industrial pros
trntion. constantly predicted and by some await
ed for the last three months has not yet arrived
In such tangible form that It Affects the com
mercisl records which afford the best tests Of
actual business.
An exploding mine In the harbor might be