St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-16
SPECULATION Is THE FAD.
No Complaint Anywhere as to
the Volume OF Business.

New YORK, Aug. 15.-R. G. Dun 81
Co.'s weekly review of trade says: The
industries are doing rather less and the
spectators are doing more. This is the
weeks history in brief. The general
average of prices of commodities is
rapidly rising, and has advanced more
than 81 per cent during The past week.
Wheat has advanced 415c, with sales of
30,000,000 bu here, oats 1c; ana corn,
having been pushed quite high before
the report appeared, has since declined
115c on sales Of s, 500.000 bu. Pork is SOC
per barrel lower, but hogs are coming
forward III great number and do not adj
vance. The exports of grain are already
affected by prices, and flour and corn
shipments are less than half those of the
three-siXteenths, but is still so high that
purchases are limited. Coffee has not
changed, and considerable demand for
the cheaper grades is reported. Oil
has risen 2%e. A heavy decline
appears in the weekly output OK
pig iron, which was I'D, 79S tons Aug. 1,
against 175,727 July l., and 160,7gI
June l. The decrease is attributed
mainly to the closing of furnaces for re-
pairs. but last year tine production in
creased 5000 tons from June to Aug.
l, and it is noticed that some Southern
works which were to have begun Oper-
ating two months ago are still waiting.
Prices show little change, though one
large Southern concern is reported to be-
cutting literally. The demand for fin
ished products is full and well SuS-
tanned. and some forms of plate iron are
a little higher. The wool manufacture
shows no improvement, and many
makers express growing disgust at
the scantiness OF purchases, eX-
cept for the cheaper grades.
Wool does not advance, aud the heavy
dull, and the output still falls below
last years. Dry goods jobbers note
that Southern and Western buyers are
more numerous in this market than
usual, but. while cotton goods are we'll
sold up, the demand for wOOlenS is only
fair. The reports from other cities are
generally favorable, no complaint being
anywhere made as to the volume OF
current business. Chicago notes that
drought in some localities has affected
crops so that purchases will be dimin-
IShed, but the injury is not yet supposed
in commercial circles to be of serious
magnitude. Yet there appears in
board of trade figures marked decrease
in receipts of grain; and but
ter, compared with last year,
with some decrease in dressed beef, but
a large increase in cured meats. lard,
hides, wool and cattle; and receipts OF
hogs are about double last years. The
dry goods and clothing sales exceed last
years, and COLLECTIONS were never bet
ter st. Louis notes a fair volume OF
trade, though less strength than last
q MilxU0uRQp
have improved crop prospects; ST. Paul
reports the crops equal to anticipatiOns,
and Minneapolis notes a good lumber
trade and satisfactory building, though
low water restricts the flour output. At
Omaha trade is good. at Kansas City
about average, at Detroit excellent
with manufacturing works fully
employed, and at Pittsburg and
Cleveland no especial change is seen.
Philadelphia reports active demand fox
dry goods, stronger market for gro
cerieS, and strong and healthy market
for leather, shoes and paper. Money is
strong and firm at old rates at Chicago,
tighter at to per cent at st. Louis,
and in fair demand at about usual rates
elsewhere. About million has been
sent West from this city during the
week. The experts of merchandise
from New York fall below last years
by 30 per cent for half of August, while
the imports continue very heavy; and
those conditions, with the advance in
speculative markets. are not entirely
favorable. The business failures Oc-
curing throughout the country during
the last seven days number 1877, as COM
pared with POS last week. For the cor
week of last year the figures
were 213.