St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-07-19
CONFIDENT AND HOPEFUL.
Such Is the Prevailing Tone in
Trade.

New YORK, July 18.-R. G. Dun a
Co.'s weekly review of trade: The sill.
ser bill has been passed and is signed
by the president, but has had scarcely
any effect in the markets as yet, exceptt
ing the advance in bar silver to 5O31d,
followed by decline to sod. No change
appears in money markets.. and
foreign exchange remains steady at a
point which admits exports of gold. en-
gagements for to-day being half
million for Germany. The bank OF
England lost 81, 100000 during the week,
and the later adviceS from South
industrial outlook is not improved by
delays in congress, nor by drought in
some Western states, which seems
likely to cut down the yield of wheat,
but the volume of business still con-
tinues very large for the season, and
the prevailing tone in almost every de-
partment of trade is confident and hope
full. Western hides are higher, and
there is good retail trade in summer
goods. though wholesale trade is quiet.
Cotton goods are strong, but wool
favors buyers. The Chicago board of
trade statistics continue to show great
increase over last year in movement OF
all grain and flour, and in meats, the in
crease in dressed beef beingJ threefold,
and in lard, cheese and butter large,
with considerable gain in live stock,
wool and hides. Boot and shoes sales
are little slack, but in dry goods and
clothing last years sales are surpassed
and payments are good. Cleveland
notes larger trade than last year, though
seasonably quiet at present, and sub
StantiaHy the same is reported from De-
trolt and st. Paul. Minneapolis in
creaSes its weeks output of flour above
100000 barrels, and reports strong
lumber market. Trade is good at Omaha
and Denver, but dull and inactive at
Jacksonville. The live stock movement
at Kansas City is large, but at low
prices. A rather better toneis reported
in the Philadelphia iron market.
Shipments for six months have
been 1926 tons, and sales made
alread cover about three months
more of production. Large consump-
ton of copper sustains the price at II
cents. and manipulation has placed tin
at 2l.55 cents. but lead is dull at 4.52
cents. Coal is lower. Wool is dull and
limited demand. No definite improve
ment is seen in the wooden goods mar
ket. Little is doing at present in knit
goods. The speculative markets have
been curiOuSly variable. Wheat is more
than half cent lower than week ago,
Notwithstanding some evidence of in
jury from drought; the stock carried
over from the last crop year is
estimated at 60,000.0O0 to 100000
bushels, which, with yield even
smaller than is now expected, will more
than meet all probable requirements.
Corn has advanced nearly half cent
higher again. in spite of favorable crop
prospects. Hogs and pork products are
weaker, and coffee unchanged, though
the distribution is very moderate. Raw
sugar has been advanced sixteenth,
though refined is lower, though Spreck-
les products is offered below that of
the trust. The general average Of
prices of commodities is nearly per
cent lower than week ago, and with
one set back in crop prospects, consider
ably lower quotations seem probable.
The treasury has taken i'll 100000
more money than it has paid out during
the past week, although it has purchased
$4,000 ounces of silver at price not
much below ITO. Foreign trade cOntin-
ues unsatisfactory as respects the mor-
etary future. because the merchandise
exports from New York for half of July
fall 20 per cent below those of the same
weeks last year, while there appears
remarkable increase in imports here,
for two weeks the gain being over 40
per cent. The business failures occur
ring throughout the country during the
last seven days number 207,as compared
with a total of 1877 last week. For the
corresponding week of last year tue fig
ureS were 20S.