St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-02-08
A PERPLExING SITUATION.
Business Appears to BE Good,
but the UndertOne Is Dis
cOuraging.

NEW YORK. Feb. 7.-R. G. Dun & Co. s
weekly review of trade says: 1t rarely hap
pens that the situation in business is as per-
picking as 1t now appears, The general
tenor of reports is less encouraging. Yet in
every quarter there is seen strong confidence
in the future of business, ana such reaction
as appears is generally believed to be tenn
porary. The monetary prospect has clearly
improved. While the bank rate in England
has not been reduced, the gains of S1,Si -
90 by the Bank of England and 81 $1,000 by
the Bank OF France III gold reserve lessen the
chance of disturbing drain from that side.
Domestic money markets are generally grow
ing easier, with moderate or far demand.
Collections also arc average or far at nearly
all points, and definitely improved at sew
eral; good at Chicago in dry goods and boots
mentioned as SLOW i'll fewer lines at Phila-
delphia, but sill below expectations at Mil
waukee. Money accumulates here, notwih-
standing the treasury has taken In $1,000
eco during the week more than it has paid
out. AT almost all interior cities the unsea-
sonable weather still retsrds may kinds
of trade. though Philadelphia reports
P mGre a activity in otb dry 6 gGHdS in iam
ais; Chicago large increase over
last year in grain and provisions, but a de-
crease of 81 per cent in wool receipts owing
to the snow blockade, smaller sales of dry
goods, and about equal sales of boots and
shoes. Cleveland reports larger trade on
the whole than year ago, Int at ST. Louis
trade is slightly restricted; at KANSAS CITY
only average; at ST. Paul and Minneapolis
somewhat improved, but at most other points
only fair for the season. The larger branches
of industry do not for the moment, show ell
lrely encouraging results. Iron is unmiS-
takably weaker at Piltsburg and here, and
while the steHdiness at Philadelphia is co.
sidered hopeful, the business in bar iron is
there pronounced extremely dull;' in
plates, very dull;'' in structural
iron new business comes very
slowly; in nails there is not so much doing at
present and in steel rails only two or three
moderate sales are reported. The decline i'll
England. from 65s I'd to 54s Sd for scotch
pig, has some influence here Wheat has de-
clined a quarter, corn three quarters and
oats three-eighths of a cent, with moderate
trading. Oil has risen &c, and hog products
are shade stronger. but sales of sugar by
Spreckles' agent generally below the trust
prices are noted at Boston, and the price
here has dropped an eighth for raw and re-
fined. Coffee is steady, and the minor metals
all lower abroad and weaker here Little de-
preston has appeared in the stock market
which is held very stubbOrnly, the average of
prices being scarcely "A per cent lower than
week ago. The reported earnings of COM
panies are heavy, averaging for January
gain of ~ per cent over last year, when rates
were much demoraliZed. The foreign trade
of the country seems to shrink little. which
is natural after the enormous movement OF
last year. and exports and imports almost
show some decline in comparison with last
year-returns, as usual, including no SPECIE
but merchandise only. The business fail
ures number 321, as compared with total of
29l last week. For the corresponding week
of last year the figures were 2U3.