Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-07-16
COMMERCIAL.

Milwaukee Leading Chicago Again on
wheat-stock Market Strong and Buoy
ant Bran and shorts Scarce in st. Paul
The Fruit Trade Dsmoralized by Sun
Struck Stuff.
Sr. PAUL, July 16.
temporary scarcity of bran aud shorts in
this market has caused an advance of Soc per
ton. The trade in butter is increasing, with
prices little frmer. The fruit trade is some
what demoralized by large stocks of slightly
damaged and inferior stuff, but choice ship
ping qualities are not obtainabie at less than
our quotations.
The circular of II. G.. Dan & Co., and associ.
ated firms for July, says: "The failures for the
first half Of 1880 appear to be only 2,497 in
number, with liabilities amounting to barely
$33 600, 900. These figures are much smaller
than it has ever been our good fortune to
chronicle for any similar period. The first six
months of 1879 showed remarkable dimiuu-
tion-the liabilities for that period being only
65, 600, 600 as against $780, 000, 600 in the same
period of 1S78-or a lessened loss by bad debts
of fully one-half. But it has been left for the
first six months Of 1880 to show reduction OF
as great a ratio even on the reduced figures of
the previous year, for the liabilities of the last
half year are only 1913, 100000 as compared with
$65, 600, 600 in 1879, and $l3O. 600 in 1878.
Thus for the first half of 1880, as compared
with the first half of 1878, the loss by failures
appears to be lessened nearly 300, 600 000."
From reports of correspondents of the above
named commercial agency we copy the follow
ing written by the st. Paul correspondent
"Ihis section has realized fully its share of
the general prosperity of the country, and our
merchants at this point axe well satisfied with
the result of the first six months of this years
AnO caIo 7xr-sfl .bau, t.
crease of at least so per cent over those for the
same period last year. This is doubtless in
some part due to the sudden rise IN values ex-
perienced early in the season, but may be
mainly attributed to the legitimate demand of
a prosperous and rapidly increasing commu-
ni.y. Country dealers, as rule, have bought
prudently, and we have no reason to fear that
the recent break IN prices of staple goods will
prove disastrous. SO far there has been but
very little loss from bad debts the past season,
and the prospects for the fall are excellent. 1t
is estimated that there are 5000. 600 acr es in
wheat, and the present condition of the crop is
most promising. Arealization of to-day's out
look will insure us prosperous fall and winter
trade"
The failures in Minnesota for the first half
of 1880 numbered A., with liabilities amount
ing to $466, 229 In the first half of 1879 there
were 80 failures in this State, with liabilities
amounting to Ss63,328.
A New York dispatch of last evening says:
"Cotton goods are in irregular demand and
prices still unsettled. Prints in light demand
Sprague's dark prints opened at 615lc, and Cor
don's dark prints at &c. Kentucky jeans fairly
active, but mems wear woolens and hanntls re-
main quiet. Foreign goods continue active"
Wheat closed in Chicago yesterday lower
than the closing prices of Wednesday, as fol-
lows: August &c off; September 1c and year
&c. Milwaukee closed at 1c advance from
Wednesday for August and 90 off for Septem-
Der. The reports of a Russian deficiency
which affected these markets Wednesday were
succeeded yesterday by reports of Thunder
storms in England and an upward tendency of
the Liverpool market, in which Milwaukee
appears to have ''taken more stock than
Chicago.
The New York Herald states that a syndica tie
of New York merchants and bankers has been
formed for the purpose of buying up or con-
is claimed that the five members
of the syndicate can bring to the
operation capital of $75, 900, Quo, and that
they are proceeding on the theory that the
coming crop will not exceed 1900 cases, while
the worlds consumption amounts to 5000 cases
year. The combination is said to have al
ready caused much uneasiness to European
manufacturers of morphine. The price of
opium in New York Saturday last, duty paid,
was $3.50 per pound.
Chicago Times, Wednesday: s'The lumber re-
ceipts for week past have been rather large,
and the yard supplies were large and increas-
ing. On the opening of the present month
the local supply of lumber and timber amount
ed to 347. 346419 feet, against 1872 467, 878 feet
on the first Of last month, and 282, 1872, 636 feet
on July l, 1879. Thus there was large in
crease in the supply during last month, de-
spite the heavy sales. and the supply at the
present time is probably larger than ever be-
fore at this season, despite the talk in some
quarters of reduced stocks. The consumption
of lumber is certainly very large, but the sup
ply in the northwest is believed to be amply
sufficient to meet all requirements. The bulk
docks to unload, and the offerings at the sales
docks are tremendously small, as compared with
some former years. Prices have been firm all
Of the past week, and piece-stuff was especially
firm.