St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-28
INDUSTRIAL HESITATION.
There Is a Cloud on the Horizon
Of Trade.

NEW YORK, June Or. G. Dun &
Co.'s weekly review of trade says:
While the volume of trade. as indicated
by special reports, by bank exchanges
at interior cities and by railroad earn
ings, continues larger than i'll the same
month of any previous year, the pros
pect for the future is rendered less sat
isfactory by industrial hesitation and
by doubt in regard to the monetary out
look Industrial hesitation results from
the delay of legislation and increased
uncertainty regarding the outcome.
Wool is distinctly weaker in the inter-
iOr and at Eastern markets, and dis
position is shown to meet the
needs of manufacturers. This UNI
certainty also affects estimates
of the future demand for iron, and so
continued addition of new furnaces
weakens that market. Large transac-
tiOns in structural iron and rails have
been closed, but without strengthening
prices. Cotton has declined nc. Wheat
has fallen 111Sc, with better news from
the Northwest, and oats &c, and lard
and hogs are shade weaker. Coffee is
steady, but oil has declined 3s6c. Raw
sugar is 1-16c and crushed e lower,
and further concessions on refined are
expected. The general level Of prices
is lower, in part because of reaction
from the many SpeculationS which the
prospect OF unlimited silver coinage en-
gendered. Business at other cities is
well maintained for the season, and
the exceedingly confident tone hith-
erto prevailing does not at all
abate. If there are possible
tiles of Disappointment they do not
seem to he realized as yet. Boston
notes good demand and higher prices
for cotton and leather goods, demand
for lumber and large receipts of wool,
which tend to weaken the market. AT
Philadelphia coal is dull, Chicago con-
tinues confident of large and profitable
fall trade, and the statistics of the board
of trade show increase over last year in
the grain business and in seeds, slight
decrease in meats, but gain of nearly
100 per cent in dressed beef, an increase
in lard, and large decrease in butter.
The dry goods business exceeds last
years, and the prospects of the cloth
ing trade for the fall are thought quite
f1atterlng. st. Louis reports trade in
all lines above the average; Milwaukee
notes excellent crop prospects and good
business: st. Paul finds the situation
encouraging, and trade at Omaha and
Denver is good. At Detroit business is
quiet, wool moving slowly because
farmers hold for high prices. An av-
erage business is reported at Kansas
City, and no change at Pittsburg except
that, while the iron mills are fairly en-
ployed, rails are lower aud glass works
closing for the season.
In all the reports, whether from North
or South, there is noteworthy absence
| of complaint about collections, and
money markets are fully supplied. but
the demand is quite active at St. Louis
and Cleveland and pushes close upon
the supply at Milwaukee, while it is
weak at Kansas City. The money mar
ket is frmer at Boston and Pittsburg.
but plentifully supplied at Chicago and
easy at Philadelphia, and the coming
| July disbursements are expected tC
cause greater ease everywhere. The
business failures occurring throughout
the country during the last seven days
number 2O2, as compared with 1879 last
week. For the corresponding week OF
| 1889 the figures were 215.