St. Paul daily globe., 1889-06-22
j. j. WATSON. BRO. & HYNDMAN,
96 East Fourth Street,
REAL ESTATE AND MORTGAGE INVEST
MENTS.
FIRE INSURANCE AGENCY.
MORE FAVORABLE,
r. G. Dun & Co.'s Weekly Review
of Trade.

New YORK, June CIR. G. Dun & Co.'S
weekly review of trade says: There is a
better feeling, with larger transactions in
iron and wool, and crop prospects are more
favorable But the agreement of railway
presidents has not prevented renewal OF
strife, and the decentralization OF rates Is
spreading widely; and. meanwhile, the ex-
ports of gold to-day will exceed S4, 10000
If the railway outlook continues to discour-
age foreign investors, and the banks begin
the last half OF the year with low reserves,
gold going out and large crops to be moved,
the monetary prospects will not be quite en-
couraging. At Milwaukee continued wet
weather retards and business is rather quiet
at Kansas City. and outside of speculative
operations and the iron trade it is generally
dull at Philadelphia, but marked improve
ment is noted at Pittsburg and In
less degree at Cleveland. The demand
for money is rather active there. but
generally very moderate, with collections
not on the whole perceptibly better. Rains
have decidedly improved crop prospects In
the Northwest SO that great hopefulness
tinges all commercial reports from that sec
ton, and the decentralization of rail rates is
commonly supposed to promote better re-
turns to farmers, while the difference in cost
of transporting Eastern products to western
consumers is already considerable through
out the region north and west OF Illinois.
burg, at Philadelphia. and to some ex-
tent here, the advance on many kinds
of pig iron being about so cents per ton.
But Northern No. can still be bought here
at S16.5O@1S and Southern No. at $16.25
@l7 per ton. Teh markets for manufactured
products are stronger and higher. In coal,
recent hopes have not been realized. 1t is
even stated that the Reading company has
not received single order at the late ad-
vance. and sales below the schedule are re-
but tin is lower at zoe, production having
been stimulated. Wool is rather stronger:
Wheat has been advanced a4c, with sales OF
10000, 600 bu here for the week. But this
speculative movement seems to take no ac-
count of the fact that wheat hea an and -four
will probably remain from the
last crop July 1, to be added to new sup
ply, which now promises to exceed all re-
and oats 84c higher, for no other reason than
because wheat advances. Cotton has de-
clined lsc. A long-expected break in coffee
lowers the price Ac, with sales OF 696, 600
bags. But the price is still 15c for Decem-
Der optious, against 912c year ago, and OPP
Pork, lard and hogs are a fraction lower,
sugar unchanged for this week, and leather
12c higher for some grades. The general
tendency of prices has been slightly upward.
The heavy shipments of gold this week are
surprise to many, and are attributed by some
bankers to the needs of the Bank Of France
and the large expenditures of Amer
leans at the exposition. But the bal
ance of foreign trade has for months
been so heavily against this country
that no such explanation Of gold shipments
is necessary. For June, thus far merchan-
disc exports from New York are IL per cent
larger than last years, with imports some
what smaller, but even these changes would
leave heavy excess of imports over exports
to be met by shipments Of securities of gold.
AT present the temper of speculation does
not encourage the belief that foreign buyers
will take railway securities largely. On the
contrary, dem hlization of rail rates is likely
han Week bu
with great speculative strength still shown
in the stocks which have been controlled by
powerful combinations. The business fail
ures number 22O, as compared with 25O last
corresponding week of last year the figures
were 2O4