St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-07-26
SATISFIED AND CONFIDENT,
The Tone of the Business World
Decidedly Stronger.


Co.'S weekly review of trade: More
money and higher prices meet the
wishes of most traders, and accordingly
the tone of the business world is more
satisfied and confident. Meanwhile.
silver is accommodating, having risen a
cent per ounce by Monday, and since
declined three-QuarterS of cent, and
shipments hither from Russia have be-
come known. Because of speculation
in grain and cotton, and higher prices
for some manufactured goods, the gen.
eral average has risen during the week
half of one per cent, and there are in
dicatiOnS of renewal of the speculative
fever which the prospect of none
tary expansion produced some time ago.
But i'll other respects the outlook is
good, business is large for the season,
and the great industries are on the
whole improving in condition. Latest
reports of exchanges through clearing
houses outside New York show gain
of Is per cent over last year. The wool
ment of all the great industries. Fail
IRE af the senate to go on with the tariff
bill operated as wet blanket, dealers
say. The boot and shoe trade is par
ticularly healthy and active for the sea-
son. A most cheering statement is
made by the iron and steel association,
showing that stocks of pig iron unsold
have increased only $4,000 tons
since Jan. /, though the pro-
duction in the six months is
reckoned by the Iron Age at
4,61O,00 tons, which would indicate an
increase of nearly half a million tons in
the consumption. The market for pig
and rails is waiting at former prices,
but bar IRON is firmer, and more demand
is seen in structural, plate and bridge
iron. The coal trade is phenomenally
dull, and the output for July has been
restricted to 100000 tons. Copper rises
steadily with growing demand, while
tin is an eighth lower and lead quiet.
Wheat has been hoisted again by great
persistency in circulating unfavorable
reports of yield at home and abroad
But exports are not large, and the pros
poets in most of the spring wheat region
for wheat, 215c for corn and &c for oats
on small transactions. Cotton also rose
thIee-SxteenthS on sales of 100000
bales, in spite of highly favorable crop
reports. Coffee was steady, and dealers
claim that better diStributive demand
begins to be felt Oil is fraction higher
with small trading, but hogs and pork
products are lower. Raw sugar has
been lifted fraction. in spite of the de-
preston of refined by Sprecke's sales.
In general speculative markets for
products show tendency to advance,
mainly because of more money and
more speculation The state of
business at other cities is every
where as favorable, and at some more
favorable than a week ago. Boston
notes trade steadily exceeding last
years, with quiet in some branches,
but great activity expected. Philadel-
phia finds better demand for iron prdo-
ucts, with difficulty in obtaining
in prompt deliveries. The tobacco
business is fair, and the trade
in chemicals, drugs and liquors, though
quiet, as usual at this season, is in good
condition. Chicago enjoys, according
to the board of trade returns, a large in
crease in all grains, and considerable in
beef movement three times last year,
and sales of dry goods and clothing
larger than year ago. Wool receipts
are small and the shoe trade quiet. st.
Louis reports fair volume of trade in
nearly all lines, and good prospects for
the fall. At Kansas City business is
better, and at Milwaukee and Detroit
fairly maintained for the season. with
good prospects. At Pittsburg iron is
slightly weaker for few grades, but
manufactured products are in good
demand, and the glass trade steady.
There is remarkable absence of COM
plants regarding collections in the re-
ports received, and the money markets
are nowhere stringent. With nearly
all conditions thus favoring business
activity. there is constantly growing
embarrassment in departments of trade
and industry which are likely to be
affected by the passage or failure of the
tariff bill. Foreign trade is naturally
adverse under such circumstances;
while exports from New York for three
weeks of July show decrease of 15115
per cent compared with last years.
There is an increase of no less than SO
per cent in imports here. The business
failures occurring throughout the coun-
try during the last seven days number
1919 failures, as compared with 207 last
week. For the corresponding week of
last year the figures were ZIG.