St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-01-12
MINING SHARES.
REVIEW OF TRADE.
Numerous Events of the Week
Help the Improvement of Bust
Special to the Globe.

Special to the Globe.
New YORK, Jan. 11-R G. Dun & Co.'S
weekly review of trade will say: Events of
unusual importance during the past week
The agreement of railroad presidents, if
signed by the companies at the West which
thus far hold off, will give substantial reason
to hope for better era in railway manage
ment. Not the least important feature of
the arrangement is that bankers of large in
fuence commit themselves, in case the
compact is signed, to refuse their
conntenance or aid to the negoti-
alton OF securities for new competing
lines or extensions. where either of the rail-
report of the Interstate commission shows
that on 10000 miles or road, for the year
ending June 30, 1888, the stock and bonds
were of equal par value, but on 52l2 per
cent of the stock no dividend was paid. and
on 20 per cent of the bonds no interest;
while the proportion paying less than 4 per
cent was SO per cent of the stock and 81 per
cent of the bonds. The decision of Judge
Barrett, holding that the sugar trust is illegal
and void, and in effect dissolution of the
companies taking part therein, is of large
importance in many branches of the business.
The principles of the decision would apply
to very many of the combinations for the pur-
pose OF controlling production and prices by
which legitimate trade has of late has been
so much disordered. No change occurs as
yet in prices of sugars, and it may
be premature to assume that other
forms of agreement. escaping the le-
may not continue to control markets. There
are signs in Europe that the copper trust is
trying to cast upon the public part of It's ac-
cumulating load through the organization of
a copper bank. The combination in coffee
has not prevented q decline of quarter in
price, and speculation in hogs and lard has
tended toward lower figures. Another fall
in wheat has occurred, the price closing 1850
lower for the week, exports being still arrested
Corn fell l lsc and oats advanced nearly lie,
with oil practically unchanged and cotton
shade stronger. The monthly statement of
iron furnaces in blast Indicates oduction
much the largest ever known; the weekly
output of anthracite and coke iron Jan. l
was 142, 452 tons, against 1862 a month
ago and 12l ,307 year ago. Fer the past
year the production is estimated ate, 5Uo, 900
gross tons. The enormous supply makes the
market duller than usual for the season, as
few are disposed to purchase beyond lmme
diate needs, and stocks at some furnaces are
accommodating. In the rail market no change
is reported and no considerable transactions;
the demand for bar iron is somewhat i'm
proved and 81. S0@l.S5 is quoted for the
best refined. The coal trade is very dull, and
the restriction of output is now SO far en-
forced that the record for the last week of
December was 4.4, 392 tons. For the year
1888, the output of anthracite was SO, ILL.,
923 tons against 81 ,966,S.0 for the preyi-
Gus year. In the wool trade the demand is
not large, but prices re firmly held in the
belief that stocks are scarce. and that manu-
facturers will in time be forced to buy
largely. Cotton goods are in better demand
at steady or improving prices, and the de-
crease in the port receipts of raw cotton for
a day or two is hailed with satisfaction
by operators for an advance. The ex-
ports in December were 425 ,000, 900 pounds
against 319, 100000 for the same month in
1887. the average export price being about
the same. Of oil the exports were but 40
500.OU0 gallons against 5'',500.000 gallons
the previous year. Sales in speculative mar
kets have been small during the past week,
and the general tendency of prices for COM
modities as whole is still downward. Re-
ports from interior towns this week are fewer
than usual, and indicate less active state of
business. The failures continue numerous,
and the complaints of tardy collections
rather frequent, and on the whole the
settlements attending the beginning of
a new year seem to have been some
what less satisfactory than usual.
But there is hardly any complaint of none
tary scarcity; in all quarters, the money mar
kets appear to be fairly supplied for all leglt-
innate business, and the rates of interest ON
strictly good paper not higher than usual.
The treasury holds about So, 100000 less
cash than it did a week ago, and at present
apprehensons or gold exports are leSsened
by heavy exports of merchandise but the i'm
ports are also unusually large. The money
market here is easier and rates lower than
week ago, and the feeling of confidence in the