Evening journal., 1898-05-10
THE WEEKLY REVIEW.
Condition of Business and FL
nance in This Country.
GREAT INDUSTRIAL STIMULUS
MANIuA VICTORY BOOlIs STOCKS.

lows:
"a state Of war was so greatly dread
cd w those who have seen nothing like
10 for moro than Thirty years that its
coming has hurt less than ITS appre-
hensiou Especially since the victory
at Manila indicated superiority Of the
American navy, gun for gun, eXpecta-
tiOns that the war will not last long
has Influenced all markets, and stocks
have advanced, the averge of prices for
railroads $279 per share The general
condition Of business has been mater
tally improved One days work by
the officers and men ait Manila hats
given many days work to thousands OF
people at home OF whom they knew
nothing. and has placed all American
Industries and interests ON a stronger
foctfn.g for amy conceivable future. MI
lions living, as we'll as millions not yet
born, owe to them a debt.
Considering only the business aspect |
eff the weeks news, Its most Important |
feature Is the Indication that In amy |
such form as TO cause watchfui defence |
eff coasts and guarding against attack |
the war is not likely 10 last long |
Wherever the Spanish fleet MAY 90, IT |
can hardly escape such crippdng that |
the country will soon he relieved from |
fear of attack There has been dis |
tinct increase in demand for the pro-
ducts of all the chief industries, many
who had delayed now coming forward
with orders while there has been ma
terlal and most important relief in the
ease Of the money markets for Indus
trial and commercial needs. The pro
norton of commercial loans made by
| ten of the leading banks has increased
| from 10 10 % per cent Oh the aggre-
gate. and while the West is still draw
ing money heavily, net shipments for
the week to the interior having been
| So 500 600, chiefly to Chicago and OHIO
river points, yet $5,327 600 more gold
| has been ordered from Europe maxi
| ing 81 1868. $50 since the movement be
| gan, OF which about 100000 has yet
| to arrive. The fact that gold Is now
| used almost exclusively between the
| Treasury and the clearing house indi-
| Gates the entire freedom from appre-
! hension about the currency or public
credit
The most sensational OF all changes,
and the most practically important
| has been the rise In wheat-l3 cents
during one days session. 2llA cents
| from Tuesday to Thursday might and
l25h cents for the week-throwinE into
! the shade all past advances and an eN-
pectatiOns. though reaction of IL centa
! naturally followed on Friday. Western
| reeeipts. after averaging less than p
| 500 600 bushels per week for tot-
| months. have suddenly risen TO more
| than $500 600 bushels. Exports have
not checked by hig.her prices as yet,
hut have caused them, amounting for
the week TO 1904 $50 bushels, -four in-
cnded against 1893 ,167 bushels from
| Atlantic ports last year, and $50 SIS
bushels against 99,5G3 from Pacliie
| ports. The remarkable rise on Thurs
| day was largely due TO the removal Of
duties by France and to prohibition CT
exports by Ru sia. bCth showing uhe
extraordinary needs abroad, so that the
rise Of 25h cents for the week is not
| without excuse. Corn failed 10 advance
| IcorrespOndingly, though the exports
| were 10000 against 2,725,043 last
year, the aggregate since July / having
| been 17SO00 600 bushels, larger than
| ever before to date although wheat
exports have also been larger THAN last
| wear far greater than I'M ordinary
years, and nearly the largest on record.
| Industries have received wonderful
! stimulus from the conviction that
hOshlities will not last long, and from
| heavy government orders. Besides
/ great demand for steel plates, and
either iron products and ammunition,
government has ordered 100000 yards
| woolen cloth, 125, 600 blankets, 100000
Yards cotton goods, and great quantities
Of provisions and other supplies, and
meanwhile reviving confidence has
multiplied other demands. TT Is not
! due 10 domestic conditions that orders
from the Russian government for two
big warshfps have been taken by the
Cramps. and orders for rails from
Mexico have given good start TO the
| rebuilt Colorado works -Four large
merchant ships have been ordered from
| the Delaware works plate mills are
| crowded. and ait the same time enc os-
| tablishment far IN the interior is bid-
| ding on a foreign order for 5000 tons,
while car and rail works continue 20
receive large orders. and demands for
agricultural implements and fencing 60
| beyond the ability Of works in some
cases.
Textile establishments have been re-
| ceiving ,argcr orders within the past
few DAYS. outside these from govern
| ment. 90 that the stOppagC or raduc-
tion Of time I'm four woolen mills early
I'm the week may have been premature.
No de- cline Whatever appears in the
prices ~ staple cloths or dress goods,
and the heavy auction, sale Of carpets
WIS emincntly successful in Oearing
off at fair prices an accumulation
! resulting from am advance In
prices last january which was
not supported by demand Wool
has declined about half a cent in April.
taking he average of 100 quotations by
Coates Brothers, and the better demand
fer goods has caused more inquiry,
bui thus far no improvement in prices
| Print cloths have again made "a new
| i,w record. "a cents. but better
market is seen for clher cotton pro-
! ducts Demands for boots and shoes
are very heavy. considering the extra
ordinary orders previously placed and
shipments are still the largest ever
kroWn for the season. SILK works are
| doing we'll and the domestic demand
fer the minor metals in manufacture
is remarkable.