St. Paul daily globe., 1888-06-16
THE TRADE OUTLOOK.
Want of Confidence in the Near
Future Is the Prevailing Tone.

New YORK, June l5.-R. G. Dun & Co.'S
review of trade for the week edding Satur-
day, June 16, has this; The moderate i'm
provement in trade noticed week ago does
not yet seem to be more than the slight re-
action which occasionally breaks period of
uncertainty and comparative inactivity. The
signs of lasting improvement in trade do
not yet appear. Uncertainty still prevails
and buyers are conservative, confining their
transactions to immediate wants in most
branches of business. In some, moreover,
the cold and wet spring has SO far curtailed
trade that retailers are carrying over stocks
larger than usual. There is uncertainty about
the tariff and its effect upon many branches
of manufacture: about the crops and the
foreign demand for eXportable products;
about transportation rates in the
near future, and about financial prospects.
Crop prospects have not changed for the
worse, but the extent of loss in winter wheat
is more definitely realized, while the pros
pect as to spring wheat and other crops is
necessarily vague. With favorable weather
the general results would probably be fair,
and in some quarters decidedly hopeful
feeling begins to prevail. Want of conf
dence in the near future is the prevailing
tone in all the markets. This cannot be at
trlbuted TO financial influences, for money
is over-abuHdant and quoted at per cent
here, Notwithstanding the renewal of gold
exports. The treasury has raised its prices
paid for bonds, taking large amount one
have been S2,O00,OO0, at an eighth
above its new limit for Is, and
like amount Ss above its limit for
412s- There is q growing impression that
bonds will not be forthcoming at acceptable
figures if it becomes important for the
treasury to make large disbursements. Dur
ing the past week the treasury has taken in
81 800 600 more than it has paid out, but the
banks still receive some money from the in
terror though at some Northwestern points
money is now going into the country and
not to the East. There is no report of strin-
gency or closeneSs anywhere. but complaints
of slow collections do not diminish. The
volume of trade of interior cities is very
good at Omaha ond Minneapolis but gener-
ally below that of last year The exports of
principal products in May were larger in
value by Is per cent than in the same month
shipments. The exports from New York for
the past two weeks show a decrease
of 10 per cent, with only a
slight decrease in imports. The iron trade
of $4,000 tons steel rails are reported for
$50 at mill, and the allotment is said to 'be
disregarded by some Eastern.makers. South
ern pig is quoted at SIT for No. l, but the
quality is not in all cases found satisfactory
Bar iron is weaker, with Sf.1511.sO quoted
for large lots of best refined. In the dry
goods business there is lack of activity,
and yet in cotton goods a more confident
and low grades of bleached goods very firm.
Woolens are still dull. with very good trans
actions for mems goods and wool is quoted
lower at Chicago. Spectators have bought
considerable quantities of Southwestern
wool in the belief that there will be
no change of duties, and hold at
prices above the market. The spring
ade i'll wholesale clothing does not appear
to have been very satisfactory. and it is be-
liered that retailers carry over unusually
large stocks, though prices have been re-
markably low. The business failures oc-
curing throughout the country during the
last seven days number for the United States
compared with 235 last week and 205 the
week previous TO the last For the CORE
spending week of last year the figures were
213. made UP of 1913 in the United States and
30 in Canada. Failures are still unusually
numerous Oh the Pacific coast, the number
rom that section and week being AZ.