St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-02-25
WEEKLY TRADE REVIEW.
All Branches OF Trade Dulier Than
Usual for the Season.
SOME ACTIVITY IN STOCKS.
Uncertainty in Several Branches of
Business---Puture of the Money
Market Not Clear.

NEW Okk, req. E4.-h. u. DUN ~
Co.'S weekly review of trade will say:
Both legitimate trade and speculation
continue duller than is usual at this
season. Though moderate improve
ment in trade is noticed at Memphis,
Charleston, Kansas City and Milwau-
kee, and in speculation there has been
little more activity in stocks. To
natural causes of dizziness at this sea-
son there is added quite unusual UNI
certainty in several important branches
of business. The termination of the
Reading strike has come at last,
and it only increases the I'M
certainty in the iron business. The
sugar trust meets unexpected
opposition threatening its existence,
operators of other SyndicateS or COM
binatiOns make it impossible to forecast
the future in many trades, and mean
while the uncertainty as to congress
sional action on the tariff is in no de-
gree lessened. Within few days the
sharp rise in foreign exchange has also
rendered the future of the money mar
ket less clear. The fact that the Read
ing strike but slightly affected the iron
business became clear before work was
resumed, and it is now felt that the re-
sumption of work by few furnaces
would be likely to ensure lower prices.
A sale of extra good forge for $15.S5 at
the furnace is reported, and the cOmpe-
titiOn to
SECURE ORDERS FOR RAILS
is still keen. Bar iron is quoted at S19;
but car building continues unusually
large, the Pennsylvania alone has
placed orders for 1920 cars and seventy
locomotives. Eastern nail makers have
combined and the price stiffenS little.
Coke producers at Connelsville have at
last consented to reduce the price %
cents, which will help manufacturers.
The Gogebic consolidation has collapsed
and the orders for lake ore thus far
Indicate heavy decrease in demand.
The failure of Graft, Bennett q Co.
OF Pittsburgh, Pa, produces no dis
turbances. The decision against barbed
wire patents affects concerns having a
capacity of 100000 tons, but not actually
producing 10000 without wider de-
mand for securities. A decrease in
railroad building must affect many
branches of productions. The mOder-
ate improvement in the stock market is,
therefore, interesting. OF new bonds
issued this year, 100000 are for new
roads, and nearly S12,000,000 additional
were listed last week. The quick adj
vance in foreign exchange appears to
indicate that investments of foreign
capital on this side have ceased for the
present, and experienced bankers now
discuss the possibility of
EARLY EXPORTS OF GOLD.
The actnal exports of goods at New
York for three weeks past show all in
crease OF 35 per cent over the same
week OF last year, but no such increase
i- tod %l,D0 Nl,n%
ury has taken in 100000 more than
it has paid out during the week.
Slightly diminishing bank deposits.
The situation at Washington does not
promise any action in regard
to the surplus, and even the
bill authorizing purchases of
bonds may be delayed. Domestic eX-
changes are but Slightly in favor of
New York. At interior points the sup
ply OF money is everywhere reported
ample, and collections are, on the whole,
improving, especially in the North
west Trade in breadstuffs is hindered
by foreign uncertainty, which kept alive
hopes of war and higher prices; corn
and oats have declined about l cent
each, while wheat has risen as much,
but it was weak again. No change is
noted i'll hog products. Oil has risen
about 2 cents; while
COTTON HAS WEAKENED.
Sales abroad and the lack of domestic
demand weaken coffee, and in the sugar
trade a Philadelphia house offers to I'M
derSell the trust, and at Boston there is
rumOr of split, while from San Fran
cisco news comes of an organized OPP
position by Spreckles and others.
Reports that the copper syndicate has
secured the Calumet and Hecla output
for years lead other producers to con-
template large increase in production.
The long depression in the
price of leather is not yet
broken, and the boot and shoe
trade is reported satisfactory. The dry
goods market continues fairly active for
cotUOns, though print cloths are shade
easier. In the jObbing trade growing
activity is noticed. But in woolens the
prospect of improvement is disturbed
by the renewal of the large auction
sales, and peremptory sale of silks is
also announced. Business failures dur
ing the last seven days number for the
United States 237, Canada SO, total 270,
compared with 200 for the correspond
ing week last year.