St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-07-12
TRADE Is GROWING BETTER.
High Hopes Stimulated by Excel
lent Crop Reports.

O1OP 4sOPOA
New YORK. July H. R. G. Dun &
Co.'s weekly review of trade says: In
spite of the usual midsummer dizziness,
aggravated this year by exceptionally
hot weather, the volume of business
continues larger for the season than in
any previous year, and in all quarters
nigh hopes are stimulated by excellent
crop reports. The Bank of England
lost 2,l6O,000 in gold last week, the
Bank of Germany s2.4OO,OOO and the
Bank of France S1,245, 200, in all Sc, $685.
600 in week, and it has been decided
to call over S., 100000 in gold from this
country, the first shipments being
to-day. With scanty reserves here
ON which to begin the fall
movement, and money tight at
Boston, and active at Philadelphia. and
in sharp demand in Chicago at & per
cent on call, the prospect is less clear
than it has been. though rates here are
comparatively steady. From many
Northwestern cities special reports
show distinct Improvement In trade be-
cause of crop prospects, which st. Paul
calls the best for years. Yet prices of
wheat have advanced 1Tc on sales of
5000, 600 bushels, corn ~ cents OH
sales of II, OOO, 600 bushels, and oats half
a cent, while cotton is unchanged, with
moderate dealings. Hogs and lard are
higher with potatoes and eggs, but oil
is cents lower, and the absence of buy
erS causes disappointment in coffee,
though prices are held. Slow cOnSump-
ton of sugar is also noticed.
But the general average of prices has
advanced fully 1 per cent. The more
Important branches of manufacture
show improvement. Wool receipts are
large at Boston, but manufacturers do
not buy freely. At Philadelphia dull
ness reigns, and Western markets are
weaker, though still high for the views
of most manufacturers. No chance is
seen for improvement in prices of goods,
and the heavy imports are expected to
keep prices down for the rest of the
wear. In the iron business the furnaces
anticipated at Philadelphia do not ap-
pear; there and here pressure to realize
keep the market weak. PittsDurg notes
no loss in price, but slower movement.
The leather industries are in better
shape. Coal is dull and weak. the
recent advance being principally on
paper, and the half years output being
within 500. 900 tons of the output last year.
Copper. tin and lead continue strong.
Reports from all centers are hopeful.
Midsummer dizziness prevails at Boston,
increased by monetary Stringency. and
at Philadelphia and PittSburg by the
fact that higher wages have been con-
ceded to iron workers, though higher
prices for products do seem Obtainable.
Chicago reports larger movement than
last year in all grains and meats, in
wool and in dry goods, with easy aud
prompt collections; very good trade
in clothing, and better than last year in
boots and shoes. st. Louis finds trade
above the average, extreme hot weather
having passed, but at Kansas City trade
is light, and collections are poor because
of drought. Milwaukee has heavy
local trade; Omaha a large trade and
bright prospects, and Minneapolis a
stronger market fo- flour, while the
lumber convention has advanced
prices of low grade lumber 81 per 1000.
At Detroit travellers report good fall
orders, and at Cleveland all trades are
better than year ago. The glass works
are closed at Pittsburg, but stocks NOV.
ing fairly, and scarcity Of miners is
felt in the coal district. The traffic OF
railroads is still very large, for the last
week of June about per cent, and fol
the month about IL per cent above last
years, while the few reports for July
show still larger gains. Receiverships
for the half year covered but SIT, COO, 00(
of stocks and bonds of 1880 miles. while
foreclosures for the half year covered
S92. 0OO, 600 of stocks and bonds and $3.50
miles of road. The steady growth of
the country is illustrated in national
bank reports, showing an increase since
1880 of 66 per cent in number of banks,
81 per cent in deposits and 80 per cent
loans. The business failures occurring
throughout the country during the last
seven days number 1856. as compared
with 1879 last week. For the correspond
ing week OF last year the figures were
OnE