St. Paul daily globe., 1889-09-07
BUSINESS Is BOOMING.
Real Improvement Seen in Almost
Every Department of Trade.

y -
NEW YORK, Sept. 6.-R. G. Dun & Co.'s
weekly review of trade says: Real improve
ment is seen in almost every department OF
business. With each week it becomes more
certain that the crops of the year will be
large, and of late the news from abroad has
clearly indicated a larger foreign demand,
while such speculation as might arrest the
outward movement of grain and provisions
has thus FAR been prevented. In cotton. on
the other hand, the present scarcity rules the
price, in spite of bright prospects as to the
coming crop. The effect of heavy
been great in the stock market, and
is now felt in much better demand for
commercial paper, while the, prevailing
opinion in the street Is that all danger OF
monetary stringency is over for the year.
The reports from other cities are unusually
satisfactory. indicating at every point either
improvement or continuance OF previous
activity. where the expansion Of trade had
been greatest. At Chicago. August live stock
receipts were larger than for any other
month, and grain receipts increase though
receipts OF provisions fall off. Sales and
collections are up to the average and the
supply OF money is ample for the demand,
though there is slight tendency to hold off
for better rates. At Omaha and st. Paul
heavy business continues, and at
Kansas City there is increase, with
money at all these points in
very fair supply. and collections
but the supply ample; &c Detroit collections
are better and business increasing with the
close Of the long drought At Cleveland
there is great activity, especially Ill ore ana
pig iron, and the demand for ore seems to
have actually exhausted the supply for the
season. At Pittsburg and Philadelphia I'M
provement continues in the iron business,
and glass is fairly active, as are liquors,
drugs and chemicals at Philadelphia, and
building permits for the year thus far have
been 7.451. against 5,913 to date last year.
But trade in wool and coal is dull. At Bos-
ton, however, wool is selling freely, 2,672,-
00O lbs for the week. largely OF Montana
ap1 npce Ohio b esse @94s conenee is felt
Leather is in active demand, and boots and
shoes are steady, with the factories well sup
piled with orders until October. The i'm
prOvement Ill iron and steel is general at
Philadelphia and PittSburg, but large buyers
hesitate here, and No. pig is still quoted at
Sl7@ls. with rails at S2S@28. so. The oe-
mand for bar iron is heavy, and prices have
advanced. Though the production is enor-
nous, it is realized that the cost OF making
iron is advancing almost everywhere, and
meanwhile the remarkable rise in prices
abroad shuts off foreign competition to an
unusual extent. The coal trade does not i'm
prove, however. and the vote to restrict Sep
tember production has failed as yet to bring
the desired increase in orders. Copper is weak
abroad and apathetic here, though offered
for future delivery below present syndicate
prices. Tin has been weaker at 20l2c Tor
spot and lead stronger at &c. Tne attempt
to hoist wheat on extravagant estimates OF
the European deficiency and demand has
not been a success, and the price has de-
clined 14sc for the week, with sales OF only
1900, 900 bu. That Europe will want more
wheat than it did last year is obvious, but
this country has a great deal more to sell.
Corn also fell cent, with sales OF 1000, 900
bu; and the continued exports, reaching
5000, 900 bu for four weeks of August have
an important bearing on the probable price
of wheat. Oats were also shade lower,
and oil declined 1ISc, with small
transactions. Sugar has gene still
lower, but at the decline some in
creased demand appears. Pork has been
steady and hogs higher, while the specu-
lators in coffee have raised the price to l94c
During the past week there has been great
activity and a general advance in stocks
under the exceptional stimulus afforded by
treasury disbursements. The cash holdings
of the treasury have been reduced over Slo,-
O00, 900 since week ago. partly in pay
ment for bonds, of which considerable offers
are still made daily and partly in the dis
bursem ents incident to the beginning OF the
month. The effect upon stocks has been an
advance of 81 Is per share in the prices OF
q dozen active securities. and moderate ad-
vance in the rest of the list, with the failure
of one operator on the wrong side or the
speculation. Both In imports and exports
the increase over last year continues enor-
NOUS and the rate of foreign exchange has
advanced to S4.SS, the Bank Of England
holding its minimum at 4 per cent The
general level Of prices of commodities is
shade lower than Sept. l. The business
failures number pol, as compared with
total of 2l1 last week, and 206 the week
previons to the last. For the corresponding
week of last wear the figures were 224.