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

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-
vlous years. The general complaint that
business is dull means that the reaction from
the greater activity of 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 10 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 in Canada ;343 against 3l5. IN
the amount OF liabilit e. there is also an in
crease i'll the United States, S29,229.35O,
against SO, 9.6. $50 last year. but Il decrease
i'll Canada, So, ,674, against SIS. 236. $50
last year. Prices have declined a little more
during the past week, but show at the close
some recovery. Wheat is but quarter lower
than week ago, corn cent lower and oats
cent higher. Fractional gains appear in
lard and coffee, while cotton has weakened
an eighth, and spectators for
a rise have been hastily unloading.
and refined has declined lac. Bar iron ND.
pears shade firmer. strikes at the West be-
ing deemed possibly the cause and better
prices were realized for Bessemer pig at
Pittsburg 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 lower than Il 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-
tinue generally encouraging in every
respect save this: the lateness of the
season makes oil crops peculiarly liable to
injury if the weather for the next two months
should prove exceptionally hot or dry. But
our reports flom nearly all points show that
may be expected. As TO winter wheat. how
ever, the reports do not warrant reduced es-
Inmates of the loss. and on account of this
shortage the weather in spring wheat regions
viii 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 6uilnesS III trade
and slow collections come from most QUAR-
tiers, thoughethe supply OF money is at almost
every point adequate. In many eases the
diversion of capital 10 real estate operations
some months ago causes considerable
pressure. The latest reports of exchanges
show decrease in the nature of business in
comparison with last year of Is per cent at
New York, and 1o.7 paI cent outside of
New York. At Boston the loss is over 20
per cent, at Baltimore and New Orleans
about 10 per cent, and at ST. Paul l3 per
cent. But gains appear of 10 per cent at
Pittsburg. 6 per cent at Cincinnati, and 5I2 per
Gem at Kansas City. Ia foreigntrade exports
still fail below last year for June about Sla
per cent, while imports slightly increase.
The value, OF exports for the
fiscal year r has probably been
about SG97, 000, 900 and of imports
about S720, 800, 0O0: 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 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 today
by K. G. Dun d Co.. the mercantile agency,
present mass OF valuable information. 1t
will be observed that uncertainties rega1 ding
the action of congress are quite generally
noted as cause of dizziness in trade. The
accompanying report of failures for the half
year ending June 30 is more favorable than
the statement for the last quarter. Showing
but slight increase i'll rumberin the United
States and decrease in the magnitude of
liabilities in Canada follows: United
States. 1888, first half, failures $3.50: liabl-
tiles, sos. ID, $50. For 1887, first half, fail
ures, 1912; liabilities, So, 1SS.092. Cam
ada, 1883, first half, failures S72; liabilities,
$500, 1872. For 1887. first half, failures,
T3T liabilities $40 Goa OJ5