St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-12-07
TRADE Is IMPROVING.
Confidence in the Future of Bust
ness Is Increasing.

New YORK. Dec 6.-R. G. Dun & Co.'S
weekly review OF trade says: No disturb
ance appears to have resulted as yet from the
Lynn and Boston fires. and the free offerings
of bonds to the treasury make the monetary
prospect clearer. In all other respects the
events of the past week have been added 10
the prevailing confidence in the future OF
business. ana the opening of congress, with
the annual message and reports, have had de
cidedly an encouraging influence. The vol
ume of money In circulation outside the
treasury, now Sl,4l7.50O.Oi0, is about
SlL,OO..,OOo larger than a yea, ago.
the interior. however. there are some
signs of abating demand, and money is
plenty at Chicago, with rates unchanged;
comparatively easy at st. Paul; in good sup
waukee the demand being moderate at per
cent; in good demand at to 8 at Detroit and
& 10 at Pittsburg; in brisk demand at Cleve-
land, where some banks are close but others
well supplied: still tight at Philadelphia
with per cent stiff, and in sharper demand
at Boston since the fire, the supply being
small at e to per cent. The treasury has
taken in during the week Si,3OO,Olo more
than il has disbursed. Reports OF business
indicate some falling off. which is considered
temporary at Chicago, and attributed to open
and unreasonable weather at Milwaukee,
where dealers appear apprehensive and col
lections are only fair. The same difficulty
affects the clothing trade at Cleveland, and
trade. But nearly all reports indicate that
business is satisfactory. Pittsburg notes Inn
proved demand and higher prices in iron
and in flint glass, window being unchanged.
The situation in the great industries is es-
pecially significant. In spite of the unprece-
dented supply of iron, there seems to be
actual scarcity at Philadelphia, and some
sales of No. at $40 tor 1890 delivery are
quoted here. Buyers hesitate, and sales are
not large, but there is q strong undertone,
and,at PittsbuTg an advance of % cents to
s. per ton. Bar iron is more irregular, and
while rails are stiffiy quoted at $50, no
sales appear, but one offer is reported by an
Eastern mill. at S34. Dealers in wool are
alsemore confident, and at Boston improved
prices were realized tor combing and delaine.
The boot and shoe manufacture. continues
remarkably prosperous. Anolher large
branch of industry which has been doing eX-
ceptionally well is the building trade. and
well-sustafped markets for all materials re-
suit, especially for lumber, structural iron,
nails and glass. The speculative markets for
products have been strong, but not very act
I've. The general tendency of prices is still
upward the rise since Nov. 30 having aver
aged a of per cent for all commodities
In the stock market there was serious
depression at the end of last week
there has been some recovery, with consider
able foreign buying. At the lowest prices
were nearly 81 per share below those OF
Nov 81, but about half of the loss has been
recovered, and the average is still nearly 50
per share higher than year ago. The earn
ings of railroads continue remarkably large
for November, exceeding those of last year
by nearly l3 per cent. Much of the past
weeks depression was due to fears regarding
the withdrawal of government deposits from
banks. but it is now plain that no disturbance
can result from the gradual measures
adopted. The business failures number 3l6,
as compared total of 243 last week. For
the corresponding week Of last year the
figures were 300.