The Providence news. (Providence [R.I.]) 1891-1906, 1898-06-11

att will be seen that it was fully six
weeks before the export figures had grown
to really phenomenal proportions, but that
was only because it took time to get the
grain moved from the west to tide water
and time to get the ships here for Its sea
transportation. Freights went up In
measurably close connection with the in
crease of shipments, the rate (from New
York to LiverpooD being 3N pence on Feb.
10 and fivepence on April 80. But, al-
though the volume of shipments kept up
all through May and were only slightly di-
minishcd the first week in June, they began
to drop on May IA, and fortnight later
had gono down to threcpence, a farthing
lower than they were in March, and have
remained at the low figure over since.
"The relation between the grain freights
and Dcwcy's victory at Manila Is signifi-
can't. Although Dewey destroyed the
Spanish fleet on May /, conflrmatory de-
tails were not known until May and full
information as to what he had done was
not received until some time after that.
The drop In freights was delayed little
after that even, owing to the pressing
necessity of the shippers to get the grain
they had bought on the move, but as soon
ms the pressure was relieved, carly in tho
week ending May 2S, the present low level
| was reached.
"Why should Dewey's victory decrease
| the demand for American grain? Because
| the entering OF Manila harbor and tho
| smashing of the Spanish ships showed MS
| nothing else could have shown that tho
| Americans know how to fight and have
| tho tools TO do II with and that the span
| iards neither know how nor have the
whcrewithal. That being tho case, there
| was no probability that American ports
would he blockadcd or that 1t would be
| difficult to get American grain.
Low Rates to Continue.
"That thorc will probably be no great
increase of grain freights In the near fu'
turc Is probable from the fact that some
| 40 or 80 empty tramp steamers are now
known TO be at sea on their way hither foi
| grain md cannot be turned back, and
| will. of course, accept cargoes at very low
rates rather than to 20 as they arc coming
| in ballast.
| nThis has bcon understood for days by
SINNERS here. but fall revival was conf
IDENTIFY expected until very recently because
their heavy orders for August and sep
tembcr had been placed, Many of thes'
have recently been cancelled, however, be
| cause of exceptionally favorable crop 10
ports from several European ana other
grain growing regions.
La Correspondencia.d do Espana.
Concerning the Madrid newspaper Ia
Corrcspondencia de Espana, which Is nc
ported to have made enormous sales nc
Gently by printing bogus news In big TYP
about fictitious Spanish victories, only =
deny itself the next In small type, whicl
no one secs, n man who has Travelled
good deal in Spain told me this morning
LA Correspondence Is tho most OK
traordinnHy newspaper In EXISTENCE u
that IL has no editor, and In ordinary time
Is n,ndc up almost wholly of gossip. Ihi
Il literally true. The publishers depart
mcnt is well enough organized, perhaps
but the copy producing force consists oil
number Of clever Independent contributor
some OF them being men Of culture an
snmc otherwise, who gather oil the sina
talk they can from every circle I'm Madrid
bar none. write IL up and put tho copy
big leather bag. :,
"Thc foreman decides what shall y
printed and whnt shall not, and his dec
sions arc not made on any editorial prif
clplcs. hut arc Governed solely ON tho spac
nj command and the copy I'm hand Il
other words. nc sets what Is offered with
out regard to its subject until he hn
enough TO fll the paper, and then he stops