St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-07-31
Business Es Quiets But Prospects fo
the Future Are Good.


NEW YORK. July 30.-Special kilograms
TO Bradstreet's this week, point to the dis
tribution of smaller volume of general
merchandise than in any previous week
during the year. This appears to be re-
garded as natural outcome at this season
and representative traders at leading cities
continue to express confidence in an active
and profitable trade in the autumn. The
total bank clearingS at twenty-nine cities
for the week ending to-day, specially
wired to Bradstreet's, amount to $747,-
zig, 412, as compared with 1925, 404 $50 last
week. Here is decline of over SIT, 00O,-
600 on the week, and the nearest
approach to the total in the corresponding
week one year ago recorded for months.
The total earnings of twenty-five Western
and Northwestern railway companies during
the third week of July amounted to 50, 1885,
600 this year, and 2,051, 600 last year.
Considering the cut rates of one year ago
and the check to general trade due to the
panic Ill 1884. the record is of very moder
ate gain. The customary autumn demand
for funds is indicated by the hardening of
interest rates, backed by the improved de-
mand for fHndS at Boston, Philadelphia,
Cincinnati, Chicago, Milwaukee, Burling-
ton and New Orleans The movement of
dry goods from agents hands has been
smaller, but that from jObberS has increased
somewhat. At Western centerS the
summer trade holds Oh firmly,
and the autumn sales begin
well. All advances are maintained, prints
being quoted at 35s cents. with light stocks.
WoOlen manufacturers will not stock up
until light weight fabrics in order to learn
the probable price level. A 10 per cent.
gain is expected, though no so confidently
as previously. The American Iron and
Steel association report of the production
and stocks of pig iron confirming the pre-
vlous impress ion that hand-t mouth de-
mand has stimulated larger total output
within six months than ever before, has re-
suited in distinct shade of improve
ment in the pig iron industry.
though prices are thus far unchanged.
The increased prices for anthracite coal do
not command general confidence, and the
demand cOntinurs light. Earlier reports as
to damage to the spring wheat crop are be-
lieved to have. been exaggerated, and Da-
kota and Minnesota are now thought likely
to yield over $4,000, 900 bushels. The
Wisconsin yield is better than expected.
Heavy receipts of winter wheat and moder-
ate export demand hold quotations in
check. The drouth West and Northwest
has damaged the Indian corn crop some,
and in such localities general trade is
checked. Recent local rains have i'm.
proved the prospect some. Special tele-
grams to Bradstreet'S place the total Cali
fornla hop Yield at 40, 900 bales. The
Louisiana rice crop is expected to
be of fine quality and to
reach 100000 sacks, and the
Louisville tobacco market is firm, mas
much as the crop needs rain and stocks
are smaller. The July cotton crop report
to Bradstreet's shows that the plant in the
Atlantic states and in Mississippi and Ala
bama has been declining owing to the Sc
we're rains. In Texas, Tennessee and Ar
kansas the condition is equal to that of a
year ago. In Louisiana it is only fair.
The total value Of buildings for which per-
mits have been granted at twenty-five
cities within six months is SOS, 900. 900
against $53. 900, 900 in the first half of 1885.
The total number of failures in the United
States this week is 1872 against 1914 last
week.