St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-01-07
WEEKLY TRADE REVIEW.
No Great Activity and the Year
;Onens With Some Reaction.

No Great Activity and the Year
"Opens With Some Reaction.
NEW YORK, Jan. 6.-R. G. Dun &
Co.., in their weekly review Of trade, will
say: The past broken week has not
been one of great activity, and the year
opens with some reaction in most of the
markets. The Reading strike has be-
come more serious than was expected.
The miners committee claims that
10000 miners and 1,S0O railroad men are
out, and though the number is plainly
exaggerated as to the railway hands the
suspension of mining appears to be
nearly complete in the Reading as in
the Lehigh regions. In spite OF the
DEFENDERS large output, stocks at the
tide are low and the stoppage of sup
plies of coal threaten to close manufac-
turing works, The iron market is al
ready distinctly sitter because of pos
sible closing of furnaces, and the Thomas
company has not yet announced it's
prices. Sales of 5000 tons of Southern
iron are reported, with some weak
ness in bar iron, and little i'm
prOvement in the prospects for rail
Manufacture. All the speculative
markets have experienced some reac-
ton, except for tin, which is firm at &c
advance, and lead, which is quoted
slightly lower. A bad break in copper
stocks abroad with quick reaction, was
followed by heavy failure and panic
at Paris. Oil amounted to 97c on
Wednesday, broke to 92c and has since
risen again. Pork and lard have de-
clined little and cotton 1-16c. Coffee
is demOraliZed, with no spot quotations,
and loss of nearly 1eln options. Bread
stuffS have been weaker, though corn is
still fraction above last weeks prices.
Stocks have not advanced, as those
hoped who supposed that the $40, 100000
distributed in dividends and interest
Jan. would lift prices. An Increased
demand for good bonds appears, but the
share market has been weakened by the
Western war of rates, which spread and
grew more bitter, and by the strike of
the coal miners. The first week of the
year opens with fewer failures than
were anticipated and with fair business
Money is rather closer at Kansas City
and from less important points, and the
strike, with its uncertainties, explains
slightly the higher rates at Phila-
delphia, while at Boston the
SmallneSS of transactions is
unusual, but the money markets are
generally easier and complaint of col
lections is less frequent. Dividends de-
clared by banks and other financial in
situations were generally up to expecta-
tiOnS, but much of the money appears to
have been anticipated in previous in
veStmentS. Next to the iron industry,
which hesitates, the wooden manufact-
urers seem to have more uncertainty.
The raw material has declined
about l cent in December, and
2 to 5 cents since last July. The
largest decline has been in fine
fleece. Estimates of the clip vary
widely. The cotton manufacture is eX-
ceptiOnally prosperous and prices have
advanced. The window glass business
prospers at its 5 per cent advance in
prices over last year. Foreign trade
continues large, exports showing only
3.3 per cent decline for five weeks at
New York, and imports only is per
eenD decline in comparison with the
enormous business of last winter. The
business failures during the week are
256 for the United States and % for
Canada, against 271 for the United
States and % for Canada the same week
last VQar