St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-03-24
WEEKLY TRADE REVIEW.
Increased Activity After the Passage Of
the Late Blizzard
AT THE EXPENSE OF VALUES,
The Future Depends Largely Upon the
Money Market, Which Has Been
Very Easy.

NEW YORK, March 23.-R. G. Dun &
Co.'s weekly review of trade will say:
"After the blizzard temporary in
crease of business, at least. was neces-
sary to make up for lost time and to
meet delayed orders. The increased
activity from this cause has extended
through the past week, and it is not
clear whether definite Improvement
in general trade has not come with it.
In the speculative markets there has
certainly been more activity, though
generally at the expense of values.
Stocks, breadstuffs, provisions, cotton,
sugar and oil are all little lower, but
with larger transactions. Stocks have
declined about so cents per share, wheat
is l cent lower and oats IL cents lower,
lard and cotton an eighth lower, sugar
sixteenth and Oil cents, while coffee
and tin have each gained half cent.
1t is felt that the future turns largely
upon the money market, which has been
very easy. But the steady loss of re-
serves by the banks, if continued at this
season, may at any time bring a sud
sales of stocks on foreign account, there
is evidence that foreign capital con-
tinued to come hither, probably on ac-
count of bonds negotiated late last year
or early in January. The returns of
foreign commerce for February show
imports exceeding exports of merchan-
disc by SO, 192,9S2, making the excess
for two months $685., 476, while the net
exports of gold were SS81,769 and
of silver Sl,9S9,43 Considering half
yearly interest and dividends due
abroad, and under valuations of imports
certainly more than $50, 000, 600 of foreign
capital must have come hither. But eX-
ports since March last fall 211a per cent
below last years, and imports are 9 per
cent above last years, the large move
ment of cotton and other products seems
to have passed, and meanwhile the
market indicates sales OF securities ON
foreign account. The reports from the
interior are generally quite favorable.
At Southern points the activity and the
early opening of spring trade inspire
hopeful anticipatiOns, though the
margin for profits is very narrow. Com
parative inactivity is the rule at North
ern points, though here and at Boston
there is some pressure since the storm
to make up delayed orders, and at Chi
cago and Omaha increasing trade is
noted. Collections are nOticeably slow
at Cleveland, and not entirely SatiSfac
tory at Kansas City, but generally fair.
Detroit and Cleveland are the only
points where clOseness in the money
market is reported, though Boston be-
gins to draw from New York, and some
applications for discount come from st.
Louis, where rates are to per cent.
Of the larger branches of trade the boot
and shoe appears most cheerful, buyers
reporting good trade throughout the
country. The dry goods business has
been more active for the past week, with
steady demand and unchanged prices
for cOttons, but woOlens are in less salts
factory shape. The demand for dress
goods is moderate, buyers pausing for the
large Arlington sale, and the freq uency
of autiOns, of which no less than six oc
Cured yesterday, is a feature not en-
tirely encouraging. The iron trade S
helped by the decrease in imports,
which fell to 1868 tons for January
against 81, 247 last year, and for Febru-
airy British shipments to this country
were only 2,466 tons against lis, 403 last
year. Constant offers of Southern and
Western products, at prices q little
below Eastern quotations, continues to
depress prices. No. pig is quoted at
$40 to $21, grey forge at ST.; best refined
bar is sold by some at $40, but by others
at S1s, and steel rails are quoted at S3l,
orders up to March 1 having been
only 565,629 tons. The absorption of
money by the treasury continues to de-
plete bank reserves, and the prospect of
any early action by congress does not
increase, The senate committee will
report favorably the bond purchase bill,
but also favors bill for refunding, so
that difference of opinion on this matter,
as in regard to the tariff, may delay
action, The disturbance of business by
Western railroad strikes has nearly
ceased, and there are new reports that
quarrels about rates are to be adjusted,
but the interference of the interstate
law with export rates through the
various Eastern ports is likely to cause
difficulty. Business failures during the
last seven days number for the United
States 2l2, Canada 81, total 243, as COM
pared with 259 for the corresponding
week last year.