St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-27
BUSINESS Is IMPROVING.
The Lewis Failure Caused Some
Disquietude, But the Outlook Is

NEW YORK, July 26.-R. G.. Dun & Co.
weekly review of trade says: The business
outlook had on the whole improved during
the week. but on Thursday the assignment
of an important dry goods commission house,
with liabilities over S4,OO0,000, occaSiOned
some dlsquietude. But the general tenor of
advices is encouraging: crop prospects i'm
prove and the probability of large foreign
demand; the apprehended financial difficult
ties do not yet arrive; the great industries
seem to be getting a stronger position, and
the railway situation is at the least, no
worse. All the cities except nine report
larger bank clearings than a year ago.
Latest accounts indicate decided improve
ment in the wheat prospect in Dakota and
Minnesota the yield being estimated at So
900 bushels, against 10000, 900 last year.
The foreign reports are eminently two-faced,
but appear on the whole to promise larger
demand than last years. New wheat is
moving freely and beginning to affect
foreign exchanges. and in confirmation of
past estimates old wheat in large quantities
continue to come forward from Northwest
ern farms, where spectators have repre-
scented the supply as exhausted. The price
has advanced only quarter, corn and oats
SIS each, and hog products have declined a
fraction. Cotton reports are on the whole
favorable. Sugar has declined a quarter,
Famine is not imminent; consumption has
been sharply reduced by high prices. Oil
has risen zoe per 100 pounds for refined
anu OSSC CTuuc. luO ScuCIdl dNcIdSG VI
prices is a shade higher than q week ago.
There seems to be real and steady improve
ment in the condition of the great branches
of industry, The demand for iron has SO far
increased as to cause general stltfen1ng OF
prices during the past week. Bar iron is
tenth of a cent higher, rails are firm at $29,
and nails stronger; the business is structural
and sheet iron is very satisfactory, but the
demand for plate is a shade less urgent. The
official report shows that the production Of
% fnn In
In any half year in the country
history, and while stocks increased
about 2OO,O tons, the consumption was
10000 tons less than in the last half of
1888; 131, 900 less of Northern IRON, appar-
emily, and $1,000 tons more of Southern
iron. But production has been in excess of
the demand The signs of improvement in
the wooden business are less clear but manu-
facturers have been buying more freely and
there has been some increase in the orders
for goods. The confidence in large fall
trade is undiminished. There is feeling
that the force of foreign competition will be
less felt hereafter. The harvest season for
boots and shoes has commenced well. The
coal business is dull and weak. No change
s s9epady at 1850 Sppfff or spot and lead
is at all reporting points ample,
and the complaints of slow collections are
fewer than usual. The treasury. has taken in
So, OOO, 900 more than it has paid out during
the week, but the exports of gold have been
for the moment arrested, and commercial
bills are more freely made against grain and
cotton to go abroad. The exports from New
York for three weeks of July have. exceeded
last years by 1512 per cent, though the i'm
ports are also large. In the stock market de-
preston has been followed by stronger
feeling, and the average of prices is frac-
ton better than week ago, with rather more
hopeful prospects as to the settlement of the
diffioultinS hptwpan ChicapO and the sea-
board. The business failures number ZIG,
as against total of 20S last week and 200
the week previous. For the corresponding
week of last year the figures were 221.