St. Paul daily globe., 1888-08-18
THE STATE OF TRADE.
r. 6. Dun & Co. Say the Signs Are
All More Favorable.

NEW YORK, Aug. 17.-R. G.. Dun d Co.. s
weekly review of trade will say 'the signs
this week are all more favorable. More def
mite information limits the loss by injury to
wheat and cotton, while corn prospects con-
tinue good. Business in almost every part of
the country improves, with many indica-
tions of good fall trade. Manufacturing is
more active, and labor is better
employed, railroad earnings show gains
as usual, and the belief that rate
wars will not last has strengthened. On the
whole. the feeling has decidedly i'm mproved,
and the actual situation also. For some
months the dullness in the iron trade has
been discouraging symptom, but now all in
crease of 6,200 tons in the weekly output
aimee July 1st is recorded. gain of nearly 6
ton OF furnaces which suspend for time in
the summer for repairs, but some new and
large works have swelled the output of
coke iron to "A, SL5 tons weekly. There is no
change in prices, and for the moment a little
less activity at New York or Philadelphia
but foundry irons are more firmly held, and
at Pittsburg mills irons are 2oc stronger. In
all quarters a better demand is felt. and sales
of ore at Cleveland are now large, while ii is
noteworthy that no advance appears in
steel rails, though sales of 10000 tons East
and IL, 600 tons West are recorded, besides
Pacific coast contracts for 10000 The
coal market is also strong and active, and
an advance is expected about Sept. 1, coin
cident with the advance in rail charges.
The latest adyices regarding the crops are
favorable because they indicate that the in
juries undeniably sustained are not SO serious
as many apprehended. While the harm done
in Minnesota and Dakota has been great III
some localities, the latest estimates from
1,2OO points appear to justify belief that the
yield from increased acreage will be about as
large as that of last year; SO the gloomy an
ticipations as 10 cotton in Texas are met
by telegraphic accounts of rains through
out the stale and better prospect, ana il is
hat wi ftar
the state will exceed last years yield. Spec
ulation has entirely disregarded crop news
and cotton has been lifted quarter with
better prospects of yield. just as hogs have
risen . and lard Is cents per 100 pounds, in
spite of excellent prospects for corn, which
was nevertheless hoisted yesterday. Wheat
has declined over a cent and the slow eX-
port demand is still the prevailing feature,
The adyices from interior points
are more uniformly favorable. as
to actual business than for many weeks.
Improvement is quite generally reported
with transactions exceeding last year at
many points. The clearing house returns
also indicate reviying activity. exceeding
last year by Sc per cent in the aggregate,
and ~ per cent outside of New York; but
much of this gain is due to greater specu-
lative activity. in stocks ut Boston, in grain
at Chicago and in cotton at New Orleans.
Money is in ample supply for legitimate de-
mands at nearly every poiut reported,
the Improvement in collections less
ems the number of complaints
At Baltimore the resumption of manufact-
ureS, after summer rest. is entirely sat1sfac.
tory; at Kansas City an increased demand
for money is noticed from interior merchants
and farmers, with prospects of a large in
crease in the cattle movement; at Milwaukee
business is active for the season and increas-
ing as at Omaha and Cleveland. In foreign
commerce a decline of IS per cent i'll the
value of exports for two weeks from New
in the value of imports here do not
accord with accounts of domestic trade.
Imports in anticipation OF change
of duties seem to have supplied the markets
for the present, while foreign buyers, not
withstanding large prospective needs for the
coming year, are too wary TO hasten their pur-
chases. The returns still show that the move
ment of foreign capital this way has not
ceased, though the stock market has been
weaker ana uncertain in tone. The average
of prices is S1.50 per share lower than a