St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-01-14
THE STATE OF TRADE.
Dun's Weekly Review Of the CONNER
cial Situation.
USUAL JANUARY DULLNESS.
The st. Paul Money Market a Little
Stringent, But the General
Outlook Good.

ANEW YORK, Jan. l3.-R. Il. Dun d
Co.'S weekly review will say: With per-
haps little more than the usual dull
ness for the first half of January, bust
ness still progresses without monetary
pressure or unusual embarrassment
from the failure of collections in any
part of the country. While failures at
some points are numerous, the aggre-
gate is less than for the corresponding
week last year, and complaint of col
Lotions is much less frequent than
month ago. Within thirty or sixty days
payments on large fall purchases will be
required, and some increase in failures
MOnld not be surprising. for the shrink
age in business toward the end Of last
year indicated that there had been over
confident buying in some departments.
But the new year opens with less en-
barrassment from that or other causes
than was reasonably apprehended.
Speculative markets are generally dull,
which is not a bad symptom for Iegiti-
mate trade. Industries are somewhat
disturbed by strikes and by legis-
latiye or business uncertainties.
The great coal strike grows more
effective. and outside of stock exchange
circles does not seem near an end, but
the actual output of coal for the first
week of January was 5.3 per cent larger
than for the same week last year. Short
ness of supply and high prices disturb
manufacturers at Philadelphia and
many other points, and it may prove
unfortunate for Northern iron pro-
. ducers that they are just now led by
the temporary Stoppage Of some fur
naces to hold prices firmly, when South
ern makers are effccting contracts at $50
for No. and SIC for mill iron. In rails
there is no change. Sales of bar at $3.50
at Philadelphia show weaknesses, while
the nail market is sitter at S2.05. Fur
naces in blast Jan. l were in capacity
7,015 tons below the record of Dec. l, a
larger decrease than was expected. but
the increase in comparison with
weekly, and the output last year is
reported by the Iron Age at 6.433, 351
tons, gain over 1856 of Is per cent.
The association reports that 2,049,63S
tons of steel rails were made, a gain of
81 per cent over 1886. The unusual
| prosperity OF the cotton manufacture,
with fair prices and we'll sustained
demand, has led to demands for higher
wages for spinners, which threaten to
end i'll serious strike. At present the
| effect is to hasten purchases and Stiffen
PRIZES. i Ic NOOlell DuStRCSS SIiONS lO
! definite Improvement, but it is encOur-
| aging to find that though last years
| work was most unsatisfactory, the pro-
! duction is estimated at some of the chief
! centers only 10 per cent less than that
| of 1856, with decline of 10 Ito Is per
cent during the year in average prices.
| Other Industries are progressing salts
! facteriIy, and in lead the production Of
| ,oe9 tons, and in copper the produc-
| ton of 1872. 500, 600 pounds sur
pass all previous records. Reports
from the interior present fewer
I features of interest than usual, trade
beiug everywhere quieter. or dull, as
/ is usual at the season, money being gen
/ orally easier, with some tendency to
sfringency at st. Paul, and collections
| being at that point fairly satisfactory on
/ the whole. AT Philadelphia, on account
i of the strikes in the coal regions, there
i is some feeling of disturbance, and
there and at other points apprehension
OF congressional action affects some cal
/ culations, though most persons are con-
|. fitient that no really harmful legislation
| will result. Exports i'll December will
ttpr0bably show more decrease than has
] been anticipated, in comparison with
/ the same month in 1886, for the decline
| in cotton was I29, 000, 00A pounds. or S10,-
+ I'll 1927. Oil experts were 5,500,o00 gal
Ions larger, but prices being lower. the
Increase in value was only s393, S21. At
New York the exports for two weeks of
/ January show decrease of per cent.
| The figures indicated that the return of
| foreign capital from this country has
been considerable during the past six
weeks. and although prices in the stock
market do not decline, movements in
dictate that foreign investments are not
| just now increasing. Breadstuffs have
declined little, corn cent and pork
are also little lower. Coffee is lower
with speculative reaction, and cotton
with sales of $50, 900 bales. Oil has risen
24 cents. Dairy products are higher,
and potatoes, with very heavy importa-
tons, are also higher. The treasury
has increased its deposits 100000 and
thus has avoided any increase in cash
ON hand. Business failures occurring
| during the last seven days numbe for
! the United States 25S, Canada 80; total,
2S8; against 279 last week and 523 for
| the corresponding week of 1887.