St. Paul daily globe., 1888-03-10
4 DECREASE IN BUSINESS.
Several Causes Tend to Cause De.
crease in Business.
LOWER PRICES THE RULE.
And Yet, Under the Circumstances,
There Is a Remarkable Steadi-
ness In the Market.

New YORK, March Or. G. Dun &
Co.'s review of trade will say: Business
begins to fall below that of last year in
volume. The railroad strikes and the
possibility of their extension, the un-
certainty as to the tariff and the mode of
preventing the accumulation of money
in the treasury, the death of the Ger
man emperor and the doubts as to its
financial effects, cOnSpire to check new
ventures and to limit purchases to the
immediate needs. Thus the exchanges
outside of New York fall below those of
last year, and the decline at nearly all
the principal centers of distribution is
considerable, though numerous smaller
cities still report gains. The tendency
of the markets is generally toward
lower prices, though the average for all
the commodities is, as yet, hardly per
cent below the highest point touched
soon after New Years. In the stock
market the downward movement has
been more definite, though without any
excitement. The causes above named,
and especially the considerable foreign
sales since the decease of the German
emperor was anticipated, fully account
for the average decline of about 81 per
share. Indeed, the remarkable steadi-
ness of the market under the circum-
stances is constantly mentioned. But
this implies measure of unreality in
current prices; markets which do not
respond to natural influences are
WITH REASON DISTRUSTED.
The appeal to the courts by the Bur-
linptAn &y Ouippv npanS the w0U tO InOal
reason whether any combination of men
can lawfully arrest traffic on one rail
road because it performs its duty as a
common carrier in taking freight from
another. 1t is felt that the decision
may prove of great importance in the
end, but it can hardly be reached soon
enough to have influence this season.
Earnings continue large, but the in
crease in expenses also continues. The
wheat market has been lifted up by the
foreign news, but with the result of
completely arresting the export demand.
AS the reported exports last month from
Atlantic ports were less than half those
of the same week last year, while eX-
ports as large as last years, would still
leave considerable unsOld surplus next
July, the eXpediency of an advance is
doubted. Corn and oats have also risen
about cent, and oil little more, while
the foreign news has checked decline
in pork products, but cotton and sugar
are lower, with some grades of iron and
wool. The decline in sugar has been
small: belief that the trust may be eff
fectually resisted seems to increase. A
drop of half cent in cotton has caused
some failures here and at the South, but
does not surprise any who have OBJ
served that receipts from plantations
are still about 100000 bales above those
crop will reach 6, 700, 900 bales appears to
gain strength. In
THE DRY GOODS MARKET
the demand, even for cotton goods, has
become moderate. The inquiry for
print cloths is light at 33s cents. The
wool market is steady for the better
grades. The boot and shoe trade is
steady. The feeling that leather can
hardly go lower helps purchases. With
Kip No. at Ia cents and Brogan No. l
at 16 cents the market is still dull, and
hides are easier. Rubber is firmer be-
cause of Para prices fine Is quoted at
751s cents. Iron does not grow stronger.
Bad iron is weak again, and sales at
below $19 are reported. Sales of $4,000
tons of domestic steel rails result in a
slight lowering of quotations to S31 .25 at
Eastern mills; 1880 tons foreign are
taken for Pacific delivery. The treas.
ury has paid out money more freely the
past week, and has added S700, 600 to its
deposits in banks, and yet has taken in
$1,000, 900 more than it has paid out. The
expectation of early exports of gold is
strengthened by trade accounts, indi-
eating a probable excess of imports over
exports in February and by recent sales
of securities on foreign accounts. But
the supply of money at all interior
points reporting is ample, and cOllec-
tfons are nowhere matter of special
camplaint. Business failures during
the past seven days number for the
United States 1875; Canada. So; total,
253, as compared with 229 for the cor
reSn0nding week of 1891