St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-06-30
The Half Year Closes With a Com
paratiye Decrease in the Volume


OF Business.
Special to the Globe.
NEW YORK, June Or G. Dun & Co.'S
weekly review of trade will say: The half
year closes with volume of business at this
date about 10 per Cent smaller than that of
last year, but larger than thatof 1886 or pre-
vious years. The general complaint that
business is dull means that the reaction from
the greater activity of a year ago. and from
the confident expectations of last winter is
heavily felt. To very many traders who
bought largely in their over confidence the
shrinkage brings serious losses, or actual en-
barraSSment, and to this cause is mainly the
increase noted during recent months in
the number of failures. For the past
quarter failures number 2,241 in the United
States, against ] $50 for the same quarter
last year, and i'll Canada 343. against 3l5. IN
the amount OF liabilities there is also an in
crease Ill the United States, 500, 800 800
against so, 9. $50 last year, but decrease
III Canada, s. ISL GA. against So. GAG 99f;
2 last year. Prices have declined little more
during the past week, bat show at the close
some recovery. Wheat is but quarter lower
IMAM q week ago, corn acent lower and oats
cent higher. Fractional gains appear in
lard and coffee, while cotton has weakened
an eighth, and spectators for
rise have been hastily unloading.
Oil is about cent lower
and refined has declined Isc. Bar iron mp
ing deemed possibly the cause, and better
prices were realized for Bessemer pig at
Plttsburg but other quotations do not i'm
prove. No. foundry has been sold for less
than SIS at Philadelphia, and steel rails are
unchanged. Wool remains unusually dull
for the season. and the manufat tire shows
no signs OF recovery. The general average
of prices of commodities is but small frac-
ton lowerthan week ago, and if crop pros
poets should prove less favorable, some ad-
vance might at any time begin. The crop
prospects, excepting as to winter wheat, con-
tlnue generally encouraging in every
respect save this; the lateness of the
season makes all crops peculiarly liable to
injury if the weather for the next two months
should prove exceptionally hot or dry But
our. rpperts from nearly all points show that
with favorable weather an excellent Yield
may be expected. As to winter wheat how
ever,the reports doAot- warrant reduced es-
Inmates of the loss. and on account of this
shortage the weather in spring wheat regions
Will now be watched with the greater anx-
iety. Accounts from cattle growing regions
are favorable, but low prices are seriously
felt by growers. The clip of wool
does not appear TO have diminished
materially, but there is less readiness to mar
ket than usual because of the general belief
that prices may improve after congress has
adjourned. The volume Of business is good
for the season at Omaha, Cleveland. Denver
and St. Paul, but is generally somewhat dis
appointing. Complaints of duilneSs III trade
tiers, though'the supply of money is at almost
every point adequate. In many cases the
diversion of capital 10 read estate operations
some months ago causes considerable
pressure. The latest reports of exchanges
show a decrease in The nature of business in
comparison with last year OF Is per cent at
New York, and 1o.7 Per cent outside of
New York At Boston the loss is over 20
per cent, at Baltimore and New Orleans
about Is per cent and at st. Paul Is per
cent. But gains appear of 10 per cent at
Plttsburg. g per cent at Cincinnat,an 5l2 per
Gem at Kansas City. In; foreigntrade exports
.stiH fall below last year for June about SIP
per cent, while imports slightly increase
The value, of exports for the
about s697, O0O, 600 and of imports
about S720, 900, 000; no gold of consequence
has gone abroad, nor has the treasury made
further bond purchases of Importance Its
statement of cash On hand shows no gain or
loss for the past week. In the stock market
dizziness has brought slightly lower aver
age OF prices, but holders hope for a July
rise, and reports of railroad earnings con-
tinue good. On the other hand the cutting
of rates increases. and prospects of state reg
uiation OF charges at the West grow
more threatening. The annual reports
of the state of business from branch
offices throughout the country issued to-day
by K. q. Dun d Co., the mercantile agency,
present mass OF valuable information. 1t
will be observed that uncertainties regarding
TIE itCtlOu VI ConSIcSS are uuile SeueTdlIy
noted as cause of dullness i'll trade. The
accompanying report of failures for the half
year ending June 80 is more favorable than
the statement for the last quarter, showing
but slight increase i'll number in the United
States. and a decrease in the magnitude of
liabilities in Canada as follows: United
States. 1888. first half, failures. $50: iiabil-
tiles, sos, 1 ID, $50. For 1887, first half fail
ures. 1912; liabilities, $50. 13S,G92. Can
ada, 1888, first half, failures, S72; liabilities,
$500, 422. For 1887. first half, failures
r-Di liabilities 81 q cog OLE