St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-02-18
THE STATE OF TRADE.
Business Remains About the Same---
Nothing New.
DECREASE IN EXPORT TRADE
The Average Commodities Selling at
a Lower Price Than One
Month Ago.

New YORK, Feb. 17.-R. G. Dun &
Co., in their weekly review of trade, say:
1t cannot be said that business has
changed for better or worse during the
past week. Causes of recent dullness
and of depression in markets become
more clearly visible; severe weather,
prolonged strikes, and reaction from
last years overhopefulness being prom
inent. The effects of speculation based
on hopes of foreign war are made plain
by preliminary accounts of January eX-
ports showing loss of S6,400,000 in
breadstutfS, 81 4,S00,0 in cotton, $780,
600 in provisions, and 100000 in Oil,
compared with January, 1887. But i'm
provement is expected to appear in
minor items and partial returns for
February show better movement. The
markets continue unusually stagnant,
and prices vary but little Oh the whole.
The average price of stocks has not
year opened. The general average
of commodities is less than an
eighth of per cent lower than Jan. ],
or higher than Feb. /, the natural adj
vance of the season in some products
being balanced by lower prices in most
of the commercial staples. The shrink
age in exports forces slow reaction in
wheat. 100000 bushels less having
gone out in seven months this year than
last year, and about 36,000,000 bushels
remain for export i'll excess of supplies
for seed and food, whereas last year
exports after this date were 81, ,OO0. 900
bushels. The general
REDUCTION IN ELEVATOR RATES.
50 70 hn1, Il nd 20
fit producers. Pork products have
neither advanced nor yielded, though
hogs are lower. Oil has declined u cent,
and sugar from Is to Il cent. The opera
tiOnS of the trust turn some to favor
lower rites. The recent increase in
confidence in tea has been lost, and
coffee options are pressed for sale. But
ter is firmer for good grades, with no
change in cheese. The dry goods market
shows great strength in cottons, though
prices of many qualities are already
high enough for cent further advance
in raw cottons; there is talk of further
advances. The demand for wOolens
continues moderate, though better than
buyers are still unusually cautious.
The consumption of pig iron last year
exceeded 6,S00,0O0 tons, and of all iron,
domestic and foreign, over 100000
tons. But the shrinkage of $1,000 tons
weekly in production barely keeps
prices steady, and in bar iron cut by
large Western establishment reflects
the sh1inkage in demand. Prices are
now $3.50 lower thon year ago for pig,
ST for bar, ST to 81 for plates, and 81 for
rails. Added to the light demand as
cause of weakness, there is the state
ment that the committees tariff bill
will reduce duties on ore to so cents, OH
pig to $3.50 and on rails to S11. At st.
Louis, Kansas City and some other
Western towns low rates have caused
considerable increase in business ac-
tivity. but at most points trade is re-
ported quiet or dull. with unfavorable
weather and impracticable roads COM
monty assigned as the cause throughout
the West and Southwest. In southeast
ern states business opens with bright
prospects. The business failures dur
ing the last seven days number, for the
United States 236, for Canada 81, total
273. AS compared with 2S9 last week
and 267 for tie corresponding week last
wear