St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-04-05
SIGNS OF IMPROVEMENT.
The Money Market Is No Longer a
Center Of Apprehen-
sion.
Fewer Failures So Far in 1890 Than
There Were in
1889.
Reports Of Trade From Interior Cities
Are Generally Favor
able.

NEW YORK, March Ar. g. Dun Il Co. g
weekly review of trade says: 1.-THE first
quarter OF the year has passed without the
financial disturbance which many saw fit to
fear, with fewer failures than i'll the same
quarter of last year and smaller liabilities by
IL per cent with larger railroad tonnage
than in the same quarter of any previous
year. and with larger payments than ever
through bankers and clearing houses outside
of New York. Foreign trade has been
heavier than ever for the season. and do
nestle consumption, while much smaller
than usual in coal, i'll woolens and heavy
goods, has been at the maximum in nearly
all other lines. Thu new quarter begins with
no apprehension of monetary difficulty,
with the general level of prices re-
covering from the depression of February
and with signs of improvement in many
quarters, though the recurrence of failures
of WOODEN commission and manufacturing
concerns calls renewed attention to the evil
effects of long credits in that department,
and to the unusual strain to which it has
been subjected by succession of two mild
winters. The money market is no longer
center of apprehension. Returns Of COM
merce indicate a considerable
Excess of Exports
over imports in March; and the trading in Sc
curities appears to have resulted in no consid-
cradle outgo Of capital. The money markets
of the interior are more satisfactory, Boston
noting comparatively little pressure, though
rates are firm. Philadelphia reported money
easier, though not plenty, because of many
large investments in Southern enterprises,
Pittsburg reporting fair demand at COZ
per cent: Chicago frmness, with ample sup
ply; st. Louis, no change from the 6@7 per
cent rate; New Orleans an easy mar
ket; and, of other Western cities,
Cleveland only reporting some strin-
gency. The failures of a woolens COM
mission house here and a manufacturing es
Enlistment in Pennsylvania came just when
there were signs of better demand by manu-
facturers for wool at Boston, here, and at
Philadelphia. On large sales concessions
are still made but the manufacturers reason
that the pending tariff bill will probably pre-
vent sales of the new clip at lower than cur
rent rates. while 1t may give them better
market for goods. The long credits demanded
on purchases of materials by the clothing man.
ufacturers expose this entire department of
industry to exceptional disadvantages where
consumption is from any cause cuPtailed as
on account of mild weather 1t has been. Re
ports OF the boot and shoe and leather in
dustry are nearly all favorable, and improve
ment is noted East and at Chicago but
strong opposition is made to the proposed
helped by the various meetings and consul
tations. and anthracite stove is selling at
$3.50, with bituminous quoted at 1925. In
the iron business there is another effort at
Philadelphia to create more encouraging i'm
pressions, but 1t is now admitted that, in
spite of hopes there entertained, the demand
for the past quarter has been slow and at re :
ducing prices Southern iron is
Still Pressed for Sale
here. In bar some little improvement is
seen, and the market for structural iron and
nails is better, but rails are not selling freely
even at 1874, the rate quoted. and it is said
that large orders can be placed at lower fig
ures. Copper has been weaker abroad. though
English and French stocks are placed at
1920 tons, against 50, $50 tons March 1.
and 124. 1856 tons a year ago. Tin is dull
and weak. and the dullest week for long
time III lead closed at about $3.50. Reports
of trade from interior cities are generally
tional exaggerations Of injury by overflow,
but the actual interruption Of distribution
at the South is sufficient to be felt
at st. Louis Other Western cities report a
good business and outlook, dealings gener-
ally equal to or in excess OF last years trade
to date. and collections rarely satisfactory.
but usually fair though Cleveland notes
some falling off in that respect. Chicago
grain trade continues enormous. corn re-
ceipts for a week being 3,25O,OOO bu..
against $50, 900 bu last year: dressed beef
showing fourfold gain. other meats a large
increase, and
Dry Goods Sales a Gain
over last year of 10 per cent thus far. AT
Philadelphia the leather trade is unsettled,
tie drug trade fair, and tobacco more
active, particularly as to Sumatra. be-
cause of the proposed duties, but building
in March fell far below last years record.
The number Of failures during the first quar-
ter of 1890 was 1928, against 1911 last
year. with decided decrease at the East. the
South, and in the Pacific states, but increase
in the Middle and Western states. The ag-
gregate of liabilities was S37. 3d., 500, against
$40, 972, SIG last year, but in this particular
there was an increase at the South and in
the Middle states-in the latter nearly so per
cent--with a decrease in all other sections.
The business failures occurring throughout
the country during the last seven days num-
Der 2O6. as compared with 243 last week.
For the corresponding week of last year the
figures were 222.