St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-14
THE STATE OF TRADE.
Summed Up the Situation Is On,
4 of Quiet Hopefulness.

Special to the Globe @
New York, June 13.-R. G. Dun Co.
weekly review Of trade will say: Quiet hope
fulne prevails That business now is dun,
Everybody realizes. That it is going to be
good; more favorable crop prospects lead
il people to hope. Then, 1t is felt that the
chances of q change of tariff lessen as the
i, weeks pass, leaving less tune for agreement
between the two houses of congress, and thus
I an important element of doubt as to trade
+ for the next half year is in part re-
mpved. In the financial markets there is
/, nowhere disturbance, though the unprece
dented volume of loans at New York raises
questions that are not yet answered. There
Is no present expansion of legitimate trade
to;expla1n it. and if important speeulations
are preparing they are we'll concealed. The
REPORTS from interior points all reflect q
hopeful spirit. with most frequent reference
TO improved crop prospects. AS to cot
sion, there are some contradictions;
much rain is by some reported
with consequent excess Of weeds. Corn and
oats would probably exceed any previous
Yield II the weather should prove fairly
favorable from this time onward through
harvest but the point of greatest danger is
not yet passed. The hay crop at the East is
ample and the. latest reports are de-
cldedly more encouraging as to the
wheat. Prices are Isc higher than O.
week ago for oats, lie lower for corn.
ana lie for wheat, partly. because broker
at chicago fell down some steps, and was re-
ported hurt When market is affected by
such rumors, prices are not Of much value
IN All directions the influence of mere specu-
latlon upon values is just now an unhealthy
sign. Stocks have advanced. the mole active
averaging about 50 per share higher than a
week ago, and yet the course of cereals
would have justified some decline. The
renewal of the railroad strike at Chicago and
Kansas City is thought serious the cutting
Oh rats has been SO great as to lessen re-
ceIpts materially. and the latter reports of
1ocs IN.
. parlSon with last year. But when the 81 ecu
1afeF can make the outsiders believe that
:" eeom' is at hand reasons and earnings
count for little, and it is the nature of
speculative markets to rise when events
are unfavofabie- Cotton has risen alice,
ana the movement seems to be having the
form Of corner" on near deliveries
Hogs, eggs ana potatoes are higher, while
coHee Is I2c lower than last week. The in
dustrial outlook is not entirely. cheering,
though the strike of iron workers
seems likely to last but little
longer iSsuss :, The statements of iron FUR
decline of 7,343 tons weekly, or per cent
since June L, and Sol, 75o tons weekly, or 81
per cent since Nov. L.. AS this decline. has
been gradual the output for the half year APP
pears tn be | per cent smaller than for the
last half year of 1887. Prices do not change,
though the more con- mon grades are freely
offered at low figures. An advance
IN nao,o circular prices OF coal is ex-
|: proves. The cotton manufacture still
holds prices well, with advances in a few
grades, but the outlook for wooens does not
change. The closing of the Bieelow Carpet
mills puts 5000 persons out of work for a
time, and following the closing of the Low
ell mills, is supposed TO indicate over sup
ply. The decline in building >, trades
is illustrated by New York returns
of 1917 new buildings for the half year,
costing S25, 600, against 1928 for the
'tirst half year. costing 81 300, 600. Exports
for the first week of July We're 81, 600. 900
smaller from this port than for the same
week last year. but returns for June show an
increase of SD, 100000 in exports of cotton
from the principal ports, with decrease of
|, 100000 in exports Of OIL Foreign ex-
| change is weaker, and the supply of
foreign capital coming hitherward has
not reeased. The treasury has
I also added So 200, 900 to the market supply
| by disbursements exceeding the receipts dur
ing the past week, and money is abundant
hot only here, but at every other point re-
| porting. In almost every instance. also, col
Elections are now reported as satisfactory or
5improving. Business failures during the last
seven, days number: United States, ZIG;
II Canada. "A; total 24o failures, as compared
with 81 last week and 179 for the core
spending week of last year.