The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1898-05-21

Western Prosperity Has SO Greatly
Capital That Actual Business Done
Increases.
New York, May 2O.-R. G. Dun & Co.
in their weekly review of trade will
say: Growing accustomed to war pos
sibilities, which are mostly far from
probabilities of evil, and finding the
nation moving steadily along in its in
dustries, people are grasping the idea
that it is throwing away some months
of active and profitable life to wait
until warclouds have passed. Western
prosperity SO greatly overblanaces the
tmidity of eastern capital that actual
business done increases; railroad earn
ings promise better for May than a
month ago for April, and payments
through clearing houses for the week
in May show a gain of SO per cent.
over last year, and 7.5 per cent. over
1892, while a month ago the Increase
over last year was 1885, and compared
with 1892 there was a decreased of 7.2
per cent. Several large contracts kept
back for some weeks because of hos
tilities have now been placed, and in
stead Of works closing or reducing
force, returns show the starting of
some works long idle and increase of
force or of hours at others. Govern
ment work occupies many establish
,fe, h1,t fot~1 ift1a
ed with other demands.
The key of the situation is the pros
perity of the west, which altogether
unprecedented marketing of bread
stuffs has caused with the prospect of
good crops to come. These prospects,
and actual receipts of wheat amount
ing to 5,S76716 bushels for the week,
against 2,439,169 last year, with adj
vances also in other grain and cattle,
have produced a demand for rails, cars,
car materials, fencing, agricultural
implements, boots and shoes, and all
textile goods, which was not anticipat-
ed from eastern indications. Exports
of wheat do not diminish, but in three
weeks from Atlantic ports, -four in
cluded, have been 7,955,5S6 bushels,
dSd1llSl tttto,ifl IdoI yCclly anu IlOAAi
Pacific ports 1,738,123 bushels, against
81O,637 last year. The price of May
wheat fell AZ cents on Saturday, rose
cents on Tuesday and closed 51s cents
higher for the week.
The trade journals best informed
about different industries appear to be
quite within the truth In stating of
one or another that actual consump-
ton Is greater than it ever has been.
In iron, notwithstanding the greatest
output ever known, the demand has
caused some advance in Bessemer pig,
with only a slight decline in the price
of Grey forge at Pittsburg, but full
quotations are obtained at Chicago and
j Philadelphia. One contract for 5000
tons armor plate for Great Britain has
been taken by works far inland, with
another of smaller quantity, showing
that the export demand, in spite of
higher ocean freights, is not vet ar
rested. Tin is sustained at 14.5 cents
by large consumption, of Lake copper
at IL cents in spite of American pro-
duction amounting to 22,909 tons for the
MONTH 10 per cent. larger than last
year, with a slight decrease in the pro-
duction of foreign mines.
The textile works are doing rather
better, even the cotton mills in spite
of their Interpretations, for some of
large Importance have recently started
again, and print cloths are a sixteenth
higher. Numerous wooden mills have
been pushed to new activity by gov
eminent orders, and prices for few
grades Of goods are better, with a
stronger tone in the market generally
although some mills Of Importance
have stopped as their orders for the
season have run out. While sales OF
wool are small, 6,338,900 pounds for