St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-04-20
GOOD FRIDAY OBSERVED,
AMI as a Consequence Nothing Was Done
in the Wheat PIT.
THE PAST WEEK IN BUSINESS.
Dun's Review Saws the Conditions Have
Been Favorable to In
provement.


Co.'s weekly review of trade will say:
''It is still the fact that most of the in
dicatiOnS usually considered of value
point to genuine improvement in
business, though moderate in amount,
and rather in volume of transactions
than in profits. Yet in some directions
the outlook grows less satisfactory every
week, and the disbursement and I'M
certainty in few important branches
affect all trades in some degree. Crop
prospects brighten steadily. Lower
prices result in largely increased ex-
ports. Money is abundant, the treasury
IS pouring out freely, and there are no
signs of pressure from abroad. Rail-
road earnings are increasing, and pay
mentS through banks. Yet failures in
some important branches of trade are
numerous. Collections are generally
slower than usual; the iron and leather
interests are embarrassed by produc-
ton largely exceeding present demands.
The reports from interior centerS of
trade are almost uniformly favorable,
indicating moderate but steady I'M
provement. At Kansas City wet wealth
Ielo oOL1lCMtldI dllCClcD llduE anu COZ
lections. and at PittSburg the slow
movement and weakness in prices of
iron and steel products. glass and coal.
affect business generally. but at Cleve-
land more Inquiry for iron ore is re-
ported and better feeling is manifest
Similar Influences. doubtless, account
IN part for the general dullneSS at Phil
adelphla: though the grocery, provision
and cattle markets there are fairly
active. The wool market is waiting:
the old-Supply is nearly exhausted. and
the new wool being not as yet available
in any quantity, prices are mostly NOM
Inal. but average for 104, grades nand
qualities nearly &c lower. The claSsifi-
cation of WorSted goods as Woolens
by the appraiser at Philadelphia has
beens Endorsed by the board of appraiS-
ers, but has no effect on the markets as
yet. The direct influence Of depression
III the iron and steel business is large.
but it has still greater moral influence
because of the current impression that
the price or consumption OF pig iron af-
fOrdS a reliable barometer of the gene
raj condition of business. 1t is evident
that this Impression must be modified
in some measure in times like these.
when the consumption for rails has de-
ciined enormously. A Chicago publ
cation OF mileage of all roads projected
fails TO stimulate iron manufacturers,
who are we'll aware how many concerns
are IN the market to purchase rails with
bonds not otherwise marketable. But
when the quantity of iron made into
rails is deducted, the remaining con-
sumption. for all purposes. this
year, exceeds that of last year by not
far from 100000 tons per quarter,
which is surely not a discour-
aujnCr pricac
ever. and the tone of the market
weaker, and it seems inevitable that the
production must speedily be much re-
duced unless the demand increases ma
terlally. The Oyer-prOductiOn of leather
does not appear to be caused by any
sudden Shrinkage in the demand for
finished products, since the shipments of
boots and shoes are larger than in any
previous year. But the depression in
price. which has now continued since
1880, and reached SO per cent. is unprec-
edented as to duration. and the excess
OF production undoubtedly begins TO
embarraSS many makers. The cotton
manufacture IS progressing fairly, with
consumption little larger than in any
previous year, and the demand for
goods this week seems better with
print-clOthS strong at 3.75 cents for Gas.
The unusually open winter accounts
Tor the dlf1lcuIty IN the lumber
business, which in some quarters is
much embarrassed by lack of supplies.
and i'll part for the weakness in the coal
market. Copper has fallen e33559 at Lon
don during the past week. and the
projects for future control of the mar
kets do not yet materialiZe. Tin has
also declined to 20.S7c, but lead is
strong at 3.67c. Wheat is but a shade
lower. and corn a little higher than a
week ago. The rapid approach of
another harvest. with an unsOld surplus
in excess of ali probable demands.
which seems likely to be not far from
100000 Du July l, is sufficient cause
OF depression III wheat. and the failure
and suicide OF an operator at the West
tell of the losses sustained. The gen
eral average Of prices is a shade lower
than week ago. although the treasury
has been diSbursing money largely,
holding in cash about S7.000.000 less
than at the last report. Exports of
merchandise improve. and for two
weeks OF April have been 2015per cent
larger than last year, while some ten
deney to decrease appears i'll imports at
New York. The business failures dur
ing the last seven days number for the
United States. 211; Canada. 35: total.
246; as against total of 239 last week.
DID, the week previous to the last. and
1875 for the corresponding week of last
year.
r. M. NEWPORT & SON.