St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-23
TRADE is BOOMING NOW.
The Volume of Business Increases
With Tight Money.


New YORK, Aug. %. r. &. Dun &
Co.'s weekly review of trade says: The
signs of monetary disturbance which
not misleading. At Philadelphia money
was tight. at Chicago strong demand,
at st. Louis unusually scarce at 7@S per
cent, at New Orleans tightening, at
Denver and st. Paul in good demand,
and at Milwaukee more active at per
cent. firm at Kansas City and rather
tight at Detroit at per cent. The OBJ
vious and only sufficient relief is the
liquidation of money speculati0ns
in stocks, in wheat, corn. oats,
wool, cotton, leather, hides, coffee,
and especially in silver bullion,
which have locked up enorm Gus sums.
In silver alone about ten millions has
been locked up to wait for higher
prices: in grain several times as much,
and in other products many millions,
while the condition of the markets for
securities was indicated by the fall, av-
eraging about So per share in a single
day on active stocks, when money be-
came tight In addition the enormous
imports, intending to anticipate tn e
pending tariff bill, have virtually locked
up for au indefinite time many millions
paid for goods and in duties on them.
The volume of legitimate bus
mess throughout the country continues
large, exceeding that of last year by
10 per cent outside New York.
and the desire to market the products
quickly, as prices rise, causes greater
demand for currency from the country
than usual. During the past week the
treasury has paid out only $4,000 more
fnl- hnn a1Nc nc, IN
higher than a week ago, but the ad
vance was much greater before the
break came. Not only have exports
been arrested, but $1,000 bushels Ameri-
can wheat were reShipped to this
country from Liverpool, ard trades
were in progress for more. Corn rose
only nc. and oats declined 21ac, but
pork products were a shade stronger.
Coffee and sugar were held without a
break, but cotton fell five-sixteenths
OIL sales of 100000 bales, and oil de-
clined SIC. Exports of products from
New York for three weeks of August
are % per cent smaller than last years,
and the recent changes do not yet suf-
flee to bring exportable staples down to
the parity of foreign prices. The iron
industry still shows strong demand
for finished products, with some stiff
ening in prices. but the supply OF pig
iron is so large that prices are shaded
in urgency to sell. The market for wool
is dull, and prices little lower, the
supply of foreign goods offering being
large. The demand for cotton goods
has been fair, but prices do not change.
Capable observers publish warnings
that halt is needed in the leather
and hides market, prices having risen
so far as to threaten reaction.
The reports from other cities, with very
few exceptions, indicate that a larger
trade than ever before is in progress.
with satisfactory collections and a
bright outlook. Crop reports are less
discouraging, though the yield must
fall below early anticipations as to
grain. New Orleans reports very en-
couraging prospects as to cotton, and
Galveston as well, but Jacksonville re-
ports dull trade and disconraging out
look. At st. Louis business is of fair
volume. but somewhat affected by in
jury to crops. At Kansas City trade is
healthy, barely lively in live stock and
packing. Milwaukee reports that
crops will average fairly, and
Minneapolis mills have large out
put OF flour at advancing prices. The
receipts of grain, seeds, dressed beet
and cheese at Chicago are somewhat
below last years; in butter the decrease
is 40 per cent, in hides 80 per cent, and