St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-03-03
THE STATE OF TRADE.
Weekly Review Of the General Com
merciaI Situation.
A FAIRLY GOOD SHOWING
Actual Business Is Satisfactory, but
Prospects Are Little Con-
fused. ~,

NEW YORK, March 2.-R. g. Dung
Co.'s weekly review of trade will say:
Actual business is satisfactory for the
season.. Prospects are confused and af-
certain. in some directions promising;
but in other branches of large impor-
lance decidedly clouded. The passage
by the house of the bill authorizing
bond purchases, was designed to remove
the monetary uncertainty, an influence
which affects all trade and industry.
Whether the senate will pass the bllhln
its present form is not yet certain.
Lower prices Immediately followed,
however, and the average decline in the
stock market for the week has been;
about 81 per share. The Western rail-
road wars and strikes continue to dis.
turb business. Because of cuts by Cana
dian lines, the Eastern trunk ROADS
announce reduction OF lO per
cent on east and west
bound rates March 5, and efforts 10
settle the Western war were defeated
Thursday by st. Paul. Only partial
revival OF traffic on the Burlington road
has been attained, while the earnings OF
the railroads continue to show that
large quantity OF freight for the season
is in motion. The rates are dropping
and expenses on many lines increasing.
The Pennsylvania advances wages On
Western lines 10 per cent. An import
ant cause of the uncertainty In many
branches of trade is the movement to
change the tariff. Whether the pro
posed changes are deemed desirable or
not. those who think them probable are
for that reason moved to defer business
operations. The bill submitted on
Thursday affect so many industries and
branches of trade that indiyid-.
ual opinions, favorable or unfavorable
to it must considerably influence trans;
actions while it remains pending. LII
comes at time when for other reasons
there is hesitation in most OF the
branches chiefly concerned and IN
creases that hesitation. 1t is character
istic of many trades at present that pur-
chases and operations are for one reason
or another limited to present neceSSi-
ties. In the boot and shoe trade, which
is otherwise exceptionally satisfactory,
there are some such indications as to
women's and children's goods. In the
cottons the recent signs of hating may
be attributed to unusually large deal
ings in the past. In the sugar and nu-
merous other trades the operations OF
trusts Or combinations cause uncer-
tainty. The local business, since
strikes began to collapse, has been
marked by only hand-to-mouth dealing,
i'm doubt to the future output. The prices
of wool are steady, with Ohio Xxx at 81
and BUYERS have been operating with
some freedom. But any advance has
been resisted, and the effects OF the pro-
posal to change duties are not yet seen:
A large failure in the lumber and salt
interests following the remarkable
shrinkage in demand for iron ORE. lndl-
Gates that the prospect in that region is
not wholly unclOuded. Elsewhere tqe
iron trade is hesitating, with somewhat
lower prices at Pittsburg, while the
Youngstown iron works resolve to close
unless better rail rates enable them TO
meet Southern competition. In the
East the supply increases while orders
halt. No unfavorabie indications appear
in reports of trade OF Of collections in
any part of the country. Monevols
every where comparatively easy, though
at Boston and other important points II
is felt that revival of business activity
would soon be followed by some
pressure. Southern trade is clearly
improving, and there are signs
of renewed real estate activity at
some Western points. The treasury
had returned by banks, 81, 4OO, 0OOE0t
it's deposits during the week and in all
took in S4,gO0,000 more cash thani'lt
paid out for the month OF February.
The debt reduction was $7,756,00O, al
most entirely through an increase in
cash on hand, though S5,000,0O0 was
paid for surrendered bank notes and
the bank circulation diminished 49,
195, sO9. The volume of trade repre-
sented by payments through clearing
houses is about "a per cent larger than
| last year outside of New York. But
with noticeable losses at Boston, Phila.
delphia, Baltimore, Cincinnati and
Kansas City. The business failures
during the last week number PA. as
compared with 229 for the corresponding
L ,uonlr of lact YpQr