St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-20
DUN.S REVIEW.
Uncertainty About Financial
Legislation Affects Business.

NEW YORK. Dec. 19.-R. G. Dim & Co. IS
weekly review of trade says: Business con-
tinues large for the season, but there is per-
ceptble less feeling of confidence. The
causes appear to be:
First-rrospect of important monetary leg
islation, the effects of which are not clearly
forseen; second, frequent failures and
greater difficulties IN making collections :;
some large branches of industry. Probably
more people are affected as to business
undertakings. often unconsciouslv, by
uncertainty about financial legisla-
tGn and do,,s its effects than thai by any
money on call is lower than q week ago,
and money is easier at Boston and Philadel-
phia, there is still stringency at most points
throughout the country. Complaints OF
slow collections have rarely been more gen.
eraL, and in many eases settlements can be
made only with notes or renewals. But in
all quarters there are hopes that after Jan.
l things may improve in this respect if leg
lslative prospects do not meanwhile cause
greater shrinkage of credits and curtailment
of purchases. Foreign influences are not
now disturbing. Exports of products for two
weeks of December from New York show q
gain OF s per over last year, and the total
last December was hardly ever surpassed
Though imports continue heavy, they
are greatly exceeded by the exports at
present. Exports of cotton thus far this
month exceed last year. and also OF proyis-
caused by speculative prices here. Trade at
the South is fair at most points reporting;
considered healthy at New Orleans, with
larger cotton receipts; dull al Memphis but
more confident at Little Rock; slightly i'm
proved at Montgomery, and good at Nash
vile; less confident at jacksonville, and at
Atlanta accumulations of cotton are large.
Money is very close st all points, banks help
ing customers as lar as they can. but collec
tons are not average. Across the Mississippi
st. Louis has colder weather, favoring
all lines of trade, but at Kansas City
holiday trade is below average; al
Lake, improving some; at Omaha, fair; at
Minneapolis, steady for lumber and improv-
ing in prices for -four; at st Paul. confidence
is returning; collections in this region are at
most points fair; at Chicago, receipts of
wheat and wool are a third below last years;
of hides larger, and of other products about
the same: sales of merchandise exceed last
years money is firm but regular business
supplied. and there is confidence in the i'm
mediate future: at Milwaukee and Detroit
trade is good; at Cleveland far; at Cincin-
natl, very quiet in wholesale lines; Pittsburg
reports more confidence; trade in manu-
featured iron and glass slower and Bessemer
blooms lower: banks are less apprehensive,
but cautious. Confidence improves at
Boston, and the sales of merchan-
disc, though money is easier at Philadelphia.
The noteworthy feature is the general dif-
ficulty of collections, especially in iron,
paints. oils, jewelry and glass. Trade is fair
in all these lines. and glass plates are sitter
but lower prices are expected in wool. and
the demand for tobacco is light. The an
thraclte coal trade is demoraliZed, and re-
strictions of output do not restrict, Il general
breakup of the combine being apprehended
Iron shows no improvement at Philadelphia
or here. The demand for finished products
generally is Stacker. and closing of more
furnaces is likely to be forced. Copper is
unsettled. but tin is shade stronger at 20. S5c
and lead at 41Uc. The dry goods trade
feels the influence of recent failures
and OF stringency in commercial loans
In the speculative markets the tendency has
generally been downward. though wheat is
] Csc higher than week ago. in spite of phe-
numenally small exports and accommodating
stocks. Corn is 2lsc lower, pork Use per
bbl: hogs 45c per 100 lbs, and oil fraction
lower Cotton and coffee are unchanged for
the week. But it is noteworthy that the spec
ulative markets are all hesitating, in the feel
ing that monetary legislation may indefinitely
alter the situation. Hence largely increased
immediate supplies of money, by imports of
gold and treasury disbursements have less
effect than might be expected. The business
failures occurring throughout the country
during the last seven days number 4O4. as
compared with 374 last week. For the cor
responding week of last year the figures were
342