St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-02
GOOD FOR THIS SEASON.
For Midsummer the State of
Trade Is Excellent.

NEW YORK, Aug. 1.-R. e. Dun &
Co.'s weekly review of trade says:
Heavy exports of gold, 100000 having
been engaged for Saturday, and the adj
vance of the Bank of England rate from
4 to per cent, have altered the none
tary outlook for the present. The mer-
chandse imports are verv heavy for
four weeks at New York, having ex-
ceeded last years by % per cent, OF
SS,S00.000, and yet the months imports
last year were about $71.S00,000. But
have been 100000 less than last year.
months exports last year from all
ports were but S52, 25S,219. These
facts indicate very heavy
excess of imports for July. The cotton
exports for July have been about 1900
bales less than last year, and exports of
wheat and flour have of late been
checked by high prices, but for the
month show a gain. Prices of COM
modities tend steadily upward with eX
pectation of abundant money, and have
risen half of per cent during the week,
and this movement. if prolonged, will
tend to cause shipments of gold instead
of products. At almost all the interior
money markets, as here, the rates have
been moderate thus far and the supply
ample. however, and the complaints OF
slow collections, though little more
frequent than of late, are compare
lively rare. The accounts of trade
are almost uniformly satisfactory.
A slight falling off in some
lines IS seen at st. Louis,
and rain is badly needed for crops in the
region tributary to Milwaukee, but, for
l,o 1.<lc, IN Tot. ~
business is better than usual. EX-
changes through all clearing houses
outside New York show gain over last
year of IL per cent. Boston gains little,
but reports improving demand for lead
ing articles of trade, wool selling more
freely, and leather active. Philadel-
phia observes some decrease in drug
business, no change in wool. quiet in
chemicals, liquors and tobacco, but I'M
provement in iron. At New Orleans,
Savannah and Memphis business is sat
iSfactory for the season, and crop pros
poets excellent. So at Detroit. st.
Louis, Kansas City and Omaha bust
ness is good. Jobbers report a
favorable outlook at st. Paul,
The daily output at Minneapolis
flour mills is $4,000 barrels, and the de-
mand for lumber is strong. But in parts
of the West there is much apprehension,
and already some depression i'll bust
ness, because OF injury to crops by
drought and extreme heat. The iron
business appears rather more confident,
though no change can be observed in
prices. The wool manufacture changes
but little. At Philadelphia and here 10
prices are held too high for manufact-
Tho tnnt and chn0 hncInpcS
shows no weakness, and large num-
Der of buyers at Boston are operating
freely at the recent advance in prices,
both leather and hides being firm
and higher in price. Fears of inj ury to
wheat and corn are caused by very
numerous reports from the Central
Western states, though estimates of q
yield of 1O0,OOO,00O blu of wheat in the
Dakotas and Minnesota appear well
supported by detailed railway reports.
The conflicting local accounts and eSti-
mates helped speculation to a sharp adj
vance in wheat and corn, but in both
reaction has since appeared. and wheat
closed 315c lower than week ago, corn
about sc higher and oats unchanged.
Heavy Western packing causes some
weakness i'll pork products. and the fine
crop reports from the South helps TO
lower cotton shade. Oil is little
lower, and coffee and sugar uu-
changed. In general. the specula-
lative markets show the influence of
anticipated currency expansion, but re-
action would be natural if 0utgOes of
gold at the rate of S4.O0O,0 900 in week
Should continue to overbalance eX-
pected purchases of silver at tine rate of
q, 500, 900 ounces in month. For some
time to come the monetary outlook will,
therefore. be narrowly watched OIL ac-
count of its possible influence upon the
course of prices. The business failures
occurring throughout the country dur
ing the last seven days number 1S9, as
compared with 1919 last week. For the
corresponding week of last year the tig-
ures were 210.