St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-07
SAN FRANCISCO.
j. j. WATSON, BRO. & HYNDMAN,
90 East Fourth Street,
REAL ESTATE AND MORTGAGE INVEST
MENTS.
FIRE INSURANCE AGENCY.
FIRE INSURANCE A
THE STATE OF TRADE.
A Change for the Better Due to
FIattering Crop Prospects.
NEW YORK.

Special to the Globe.
New YORK, July 6.-R. G. Dun & Co.'S
weekly review of trade will say: 1.-THE COM
mercial situation changes little, but only for
the better. Crop prospects grow more favor
able with every week of satisfactory weather,
and the hopeful feeling thus produced
throughout the West and South is
felt Immediately in some increase
Of trade. Financial apprehensions
are nowhere of weight at present; money is
superabundant, and the belief prevails that
the treasury will prevent any pressure or dis
turbance. Such is the spirit almost every
where controlling and business depends so
largely upon sentm ent that hopeful ex-
pectations count for more, than the
present dizziness. All over the country
the inactivity usual at this season
appears to be intensified by special
causes, by doubts regarding to tariff. by
wars of rates. by labor disturbances. or by
confidence that better business is near, and
everywhere people are preparing for
a season of unusual activity. The
business Of transportation is much
demoralized by cutting rates and the
growing irritation threatens to bring
more serious reduction before long, and yet
there is prevailing faith that all quarrels
viii be adjusted somehow when traffic be-
quite see how. The spreading demoraIi-
cation of rates affects the stock
market scarcely at all, average prices having
actually risen during the past week about
one-half of l per cent Notwithstanding
stagnation almost unprecedented. Better crop
prospects account for much OF the prevail
ing confidence. Even in winter wheat regions
where the damage was greatest the yield ap-
pears to be greater than was expected while
the outlook for spring wheat improves with
every week of good weather. So Of corn,
which promises large yield in spite of the
bad beginning in some sections. The violent
and extensive storms Of which the telegraph
gives advices have doubtless done some
harm, but prior to Thursday the weather had
been generally most favorable. At nearly all
interior points business is reported quiet
or dull, though the excellent prospects
for farmers are noted as justifying
a confident feeling. Present inactivity
makes the supply of money ample at almost
every point, and the complaints Of slow col
lecuons are less numerous this week. The
great strike set OF The b.isf ne has little
eral that it will not last long.
Yet the success of one large establishment
in resuming work with non-union men and
the consent of others to the terms de-
render speedy settlement less proba-
BILE. Excepting a former tone for
bar iron the market has not been perceptibly
affected. and reported sales of Western rails
at prices equivalent to S27.T5 at Eastern
mills indicate no material increase in de-
mand. Dry goods are dull. as is usual after
July l, and little business appears. While
nearly all the great branches of manufacture
are affected by uncertainties as to the tariff,
the impression grows i'll business circles that
nothing will be done at Washington this
year, and that the business kept back by IN
certainty will swell the volume of trade
after congress adjourns. Speculative prices
are stronger for breadstuffs, wheat having
advanced during the week 3l2c, corn 2ssc
and oats l2c. Cotton is also shade stronger,
with butter, cheese, and potatoes; and oil has
risen 2l2c. The general average of prices
has fallen Tl2 per cent from Jan. l.
this week. Foreign trade improves little.
exports from New York for June being only
6 per cent below last years. The treasury
has taken ND during the past week $780,
600 more than it has paid out,
besides increasing its deposits in
banks 81 100000. The exchanges at cities
and towns outside of New York continue to
fall below last years, but this loss is in part
the consequence of the great activity early
in the year, and for the half year
the exchanges outside of this city are
but Ia per cent below those of the first half
of 1887. At New York, however. the de
crease was 1873 per cent; al Boston, ST. Paul
and Milwaukee, 5.5 per cent; at Cincinnati,
1O.5, and at Baltimore, 1873 per cent;
while Chicago reports a gain of 10
per cent, New Orleans gain of So per
cent, and st. Louis q gain of per cent
Failures during the last seven days number:
For the United States, 1872: for Canada, %;
total, Gid, as compared with POI last week
and 154 for the corresponding week of last