St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-06-01

New YORK, May SIR. G. Dun & Co.'S
weekly review of trade says: On the whole
the crop prospect continues unusually gooo'
selves to the assurance OF ample supplies
Business at all points reporting continues
large in volume, and the clearlngs through
banks show an increase of about II per cent
over last year outside of New York. In view
of large exports of gold and considerable
realizing sales of securities by foreign hold
ers, the commerce of foreign trade is closely
watched. The increase over last year IN eX-
ports from New York and imports at New
York has been about per cent for each,
which indicates All excess of imports over
exports for May of about $14. 100000, and
the specie movement thus far has not nearly
settled the balance thus arising. Lighter ex'
ports are to be expected for lhe next montn,
so that considerable outgo OF gold
would be natural, even if there should be no
withdrawal of capital on account of securi-
ties sold. There is no apprehension or early
disturbance in the money market, put tne
bank surplus, if materially weakened during
be strong enough to prevent serious pressure
in the fail During the past week the treas
ury has taken in only $4,000 more
than it has paid out, and domestlc
exchanges favor New York. Money at lnte,
rior points is almost everywhere III ample
supply Cleveland being the only exception.
Collections do not improve at Kansas City or
Milwaukee, and banks report many drafts re-
turned unpaid at Cleveland, but complaints
are on the whole not increased. The specu-
lative markets have been comparatively
tame. though corn has declined l4c, oats Ice,
and coffee lsc, while wheat, Oil ana pork
products are each a. trific stronger. NO
cnange is seen i'll cotton. The genera aver
age Of prices has declined only fifth OF one
per cent for the week. About 10 per cen
more than last years prices is asked TO
Michigan wool. The decision of the
worsted question, is regarded by many as
insuring moro active demand for
wool. Pittsburg reports very dull markets
for pig iron. with lower prices Tor some
brands, aud fair demand for manufactured
iron and steel at former prices. The i'm
preston prevails at Philadelphia that bottom
prices have been reached, and steel rall pro-
or more during the week to believe that the
turning point has been reached. In other
branches of business the. outlook is encour-
aging. There are signs Of an immense pro-
duction of butter and cheese, with a full de-
mand The production of boots and shoes IS
increasing, and orders received are large
Scarcely any profit is realized in
the production of leather. but the
visible supply is believed to be steadily
diminishing. and hides are abundant and
cheap. India rubber is not very firm at SIC
for paraf1ine. The trade in groceries is mod
crate. The stock market, after a strong adj
vance. has been somewhat depressed by
realizations, and the outbreak of new war
of rates among the roads west OF Chicago Is
a disquieting feature, but as yet prices have
receded only little. The business failures
number 2l5, as compared with 225 last
week, and 252 the week previous For the
corresponding week of last year the figures
were 2O5.