Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-05-07
THE WAR AND TRADE
uURTFUL THAN FEAR OF 1T.
The CORNER FINALLY TURNED.
A New Sense of National strength
and Energy Developed since News
NJ American victory at Manila
business Features.

NEW YORK, May 6.-Messrs. R. G. Dun
& Co.'S weekly review of trade VIII say
to-morrow: A state Of war was so great
w dreaded by those VINO have seen no.
thing like it for more than thirty years
that its coming has hurt less imam i's
apprehension. Especially since the VIC
tory at Manila, indicating the superiority
NJ the American navy, gun for gun eN-
nectations that the war will not last
long have influenced all markets, and
stocks have advanced. The average Oh
nrices for railroads is S27s per snare
The general condition Of business mas
been materially improved. One days
vorl, nv the officers and men az Mania
has given many days work to thousands
of neople at home. OF whom they knew
nothing. and has placed all American III
dustries and interests on a stronger loot
ing for any conceivable future.
The fact that gold is now used almost
exclusively between the Treasury ana
the clearinghouse indicates the entire
freedom from apprehension about the
currency or public credit.
and the most practically important, has
basr the rise i'm wheat of % IL cents for
tho week. throwing into the shade all
mast advances and all expectations
tboneb a reaction of IL IL cents naturally
followed on Friday. Western receipts
which averaged less than 2oOO'Vp per
week for four months. have suddenly
risen 10 more than S,500,WO bushels. EN-
norris have not been checked by hisher
prices as yet, but have caused them,
amounting for the week TO ZV5i'So9
bushels. -four included, against l'4So'Io'
bushels from Atlantic ports last year.
and 5598iS bushels, against 9ss,oOo from
other ports. The aggregate OF exports
t., INV 1st has been 100000 bushels
/ larger than ever before 70 date al
| tbongb wheat exports have also been
larger than last year, far greater than
| in ordinary years, and nearly the largest
| on record.
GOVERNMENT ORDERS.
Industries have received a wonderful
stimulus from the conviction that hos
tilities will not last long, and from heavy
| government orders. Besides the great
| demand for steel plates, and other iron
nroducts. and ammunition, the govern
ment has ordered 100000 yards OF WOOL
en- cloth. 125.00O blankets. 100000 yards
of cotton goods, and great quantities OF
provisions and other supplies. and mean
! while. reviving confidence has multiplied
| other demands.
Textile establishments have also been
receiving larger orders within the past
few days. outside those from the gov
eminent. so that the stoppage or reduc-
ton of time in four woollen mills carry III
the week may have been premature.
Print-cloths have again made new low
| record-1 ga but a better market Is seen
| for other cotton products.
| Failures for the week have been rs in
the United states, against 22l last year,
and % in Canada, against SO last year.
THE CORNER TURNED.
Rradstreets tomorrow will say: Evil
dence accumulates that the corner has
finally been turned in the trade situation
and that circumstances which have hith-
erto been regarded as disquieting have
| bee1ln TO give way TO more cheerful con-
ditions. or are beginning to be recognized
i'm a truer and more reasonable light.
4 new sense OF national strength and
energy seems unquestionably 70 nave de-
veloped since the news OF the American
victory at Manila. and the business COM
munity generally, with Few exceptions
would appear TO have come 10 the con-
| have been already discounted.
Among the more favorable features OF
| tho week have been the slightly easier
tone in the money market and a little
more disposition on the part OF the hhan-
cial institutions TO accommodate leslu-
mate demands. The foreign recognition
| of the critical position OF Wheat supplies
in the lowering or entire suspension OF
! import wheat duties, notably In ltaly'
France. and Spain, is reflected In ad-
vances proportionate 10 the import duty
reduction in those countries.
| OF considerable Importance In the direc-
ton Of actually stimulating business IN
some lines are the large orders received
for equipment and supplies OF all Sorts
for military use, notably In the INES OF
cotton and woollen goods, shoes, pro-
iectiles and ammunition OF various sorts
II would. of course. be useless 10 deny
that there are some unfavoraole features
In vsew notably in the cotton ana WOOL
len tndustries In the former, print
cloths have again struck the loves.
| nricss on record with quotation OF
ia ,snts for standard grades ana ths
voo,len manufacturing Industry Is as
whola reported depressed In CONTRAST
Nth these reports. chiefly coming IRON
~ Eastern and Middle states cities are
,hs sales of a considerable qnantity OF
ra. wool said 10 be for the manuiac
,urs Of goods ordered by the government
THE wheat exports for the week renec
the temporary check TO demand eausee
nv sudden advances in price. and sho"
~S.Iline OF. axeregating 2fls.T5 bushels