St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-02-04
THE STATE OF TRADE.
A Gain of 5 Per Cent in Payments
Through Banks Outside Of New York,
WITH LITTLE SPECULATION.
Changes Have Been Small, Money
Easier and in Good Supply at
Interior Points.

New YORK, Feb. 3.-R. G. Dun e
CO. S weekly review of trade will say:
'Quiet has been the prevailing feature
in business during the past week at
nearly every interior point reporting,
and at the chief Eastern cities. Yet it
is generally estimated that the volume
of business transacted compares fairly
with that of last year to date. Clear
ingS confirm this estimate, showing a
gain of about 5 per cent i'll payments
through all banks outside of New York.
With little speculation in any direction
to swell transactions, the returns are
safe indication at this season of mod
crate increase in Legitimate trade.
Prices refuse to rise, though meats and
vegetables are shade higher on the
whole. There is little larger decrease
i'll other articles, even retail prices OF
coal at Philadelphia having yielded %
cents. The general level of prices OF
commodities is now shade lower than
Jan. l. The monthly statements show
heavy decrease in the pub
lie debt, decrease of only $685.
AS in the volume of money. in
circulation, the deposits in banks hav-
ing increased S7,000,000 in January, and
a rapid return OF silver from circulation
being overbalanced by an increase of
sS,0O0.000 in gold certificates Outstand-
ing. For the past week changes have
been small. Money is easier and in
good supply at all interior points re-
porting, and it accumulateS in New
York banks so rapidly that some six
month loans at per cent have been
made. Slackening III manufactures and
an fndispositiOn to invest in new enter
priSes cause the plethora of money here,
and purchases of bonds have increased
of late, though in January the report
was S36.521 800, against S44, l2S, 800 last
year. The withdrawal of public inter
est from the stock market is illustrated
by the sales of only 2.91S.465 shares in
month last year. Steadily widening
disagreements between lines both East
and West, and rapid enlargement Of
operating expenses. deter investments.
Withoutsactive movement, prices have
declined about % cents per
share for the week. Large
amounts of foreign capital continue to
come in for investment in lands OF mort
cages at the West and South. partieu-
larry. OF late, in Texas, but statistics in
dictate that a larger amount OF foreign
capital is at present being WlthdraWn,
in part, perhaps. from securities. En-
ports of merchandise from New York
for four weeks have fallen only $4,000
below those of the same weeks last year,
but imports here for four weeks show
an increase of 1871 per cent. The strike
in the coal regions has already caused
some bIOodshed, several failures i'll the
grocery line and great suffering and
loss. Hopes of its termination within
sixty days are not more clearly war
ranted than they were two or three
weeks ago. For time sitter tone re-
suits in the iron market. the best grades
being scarce and shade higher, but 1t
is felt that a general anxiety to sell
would appear if the strike would end.
More sales Of rails at S31.50 are reported,
but less than were expected to fol-
low the Pennsylvania lead, and
the market for bar iron is disappointing.
In wool a distinctly better tone is seen,
with considerable buying by manufact-
| urers who feel the improved demand
| for WOODEN goods. But foreign cOmpe-
| titiOn keeps prices very low, and the
| wool season is so near its end that no
| material advance i'll prices is expected.
Staple cottons remain firm, but business
| is limited by SeantineSS OF stocks: in
| prints some advances are reported. The
I ludGkclS lOl plOt1SiOtlS HdNCsUVCit Soili-
paratively inactive, with lard % cents
| per 100 pounds stronger. Cotton has
declined quarter with slender sales,
and sugar is an eighth lower, but oil has
| advanced Ia cents to 90, and copper
| 1917. The collapse of c0ffee speculation
i lowers Rio fair to Is cents, and there is
a shade of improvement in the diStribu-
ton of groceries. especially at some in
terror cities. Sales of corn and oats
have been small, and of wheat only 90
O00.000 bushels, nearly all speculative,
without change in either. Accounts
not of speculative origin indicate, how
ever, that the winter has not been ia
vorable for wheat in some parts OF the
West. The uncertainty as to the action
of congress in financial and tariff mat
ters does not diminish, and doubtless
affects some branches of industry and
trade, but the ways and means COM
mittee is said to favor the purchase of
bonds, even with half the trust fund
| held for redemption of bank notes. The
business failures occurring throughout
the country during the last seven days,
as reported to X. G.. Dun Il Co.. the mer-
camille agency, number: For the United
States, 247, and for Canada, 80, or a total
/ of go. as compared with total of $40
last week and 314 the week previous to
the last. For the corresponding week
of last year figures were POI. made up OF
229 failures in the United States and 81
| II, tho DomipiOO of Canada