St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-20
BUSINESS Is BOOMING.
Even the Season Has No Appre-
cjah!e Influence JJDOn TradH

NEW YORK, July l9.-R. G. Dun Co. s
weekly review OF trade says: For the dull
markedly large. The increase in clearing
house transactions for July, thus far, has
been about 80 per cent at New York; about
10 per cent at Boston, Philadelphia and Chi
cago taken together, and about 6 per cent
in the aggregate of all other cities. A gain
so general and so great is not to be explained
by any supposed increase ill speculative
transactions, which chiefly affect clearings
at the four cities named, nor by
the settlements on commercial paper
the increase in the first week of the
month which would naturally include0the
greater part Of such settlements, was but lit
tie more than in the later weeks. New bust
ness of a non-speculative character evidently
exceeds that i'll the same month i'll any pre-
vious year. From all parts of the country
also come reports that an active and prosper
Gus fall trade is anticipated, and the crop
prospects continue favorable. But the finan-
cial outlook is rendered uncertain by the con-
tinued exports of gold, the liquidation of for
eign holders of securities and the doubts
about trust operations. Secretary Window
has talked with some freedom regarding the
purchases of bonds, but stating that prices
the government ought to pay. He has
no power to help matters, he shows, If 1t
proves that those who want money are not
those who have bonds to sell. but considers
that the monetary supply at present is ample
All reports from interior cities indicate that
the demand, though at Cleveland, Detroit,
Chicago and Philadelphia more active, is
everywhere met by ample supply, and at
nearly all points is still but moderate. The
treasury has paid out during the past week
$4,000 600 more than 1t has taken in. Trade
is clearly larger than year ago at Cleveland,
with good collections; improving at Pitts
burgh; by no means active at Milwaukee,
though collections are better; excellent
in in both respects at Omaha 1,t1 ana fa "a
at New Orleans, with collections up
to expectations; unchanged at Detroit
though money is in brisk demand, and rather
more active at Philadelphia and New York.
At most points there is observed full nor
especially controlled by speculation, and
the demand has raised coffee half a cent
with sales of 321, 0UO bags here: while dis
trust of the combination has helped to lower
the price of sugar 1sc. Supplies of dairy pro-
ducts are very large, and butter has fallen
a half, cheese quarter of cent Pork prod
ucts are fraction lower. OF the great in
dustries the wooden manufacture seems in
most uncertainty,fo the price of the material
has further advanced about 1c on the aver
age, and the tone is very firm, while manu-
facturers do not care to sell wool short by
disposing of goods at present prices. There
is more confident feeling in the boot and
shoe and leather trades. Rubber is weak at
dull and the demand backward. Iron is hes
itating again, and the belief that the present
rate of production cannot be maintained
seems increasing. Sales or rails for the week
have been but $4,000 tons. For the half
year actual shipments of rails were $4,000
tons, against $50, 55S last year, and 907, 351
the year before. Copper is weaker with
August lake offered at SLID. and
lead is fiat at So 35. Wheat has been ad-
vanced lie on report of extensive damage in
Dakota, with sales of 100000 blu here.
The accounts do not warrant expectation
that the yield will fall as low as 4S2, 900. 600
bu, which. with the large surplus still in
hand, will much exceed any demand at pres
ent probable. Corn has advanced &c. The
general average of prices is lower by nearly
half of per cent than week ago. and unless
crops sustain great injury, is likely to go still
lower. Stocks have tended downward, and
average about $1.25 per share lower than
week ago. The business failures number
2o9, as Compared with total Of 2O9 last
week, and 2O2 the week previous. For the
corresponding week of last year the figures
yppre 00S