St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-09-13
MONEY is VERY TIGHT.
The Volume of Business, However,
Is Large


NEW YORK, Sept 13.-R. G. Dun & Co.'S
weekly review of trade says: The past week
has fully justified those who gave warning
that the monetary ease caused by treasury
disbursements could be but temporary. The
market here has been tight, with extreme
rates paid In some cases. at Boston and
Philadelphia monetary pressure also affects
business; at Chicago the market is somewhat
firmer and the demand active; at st. Louis
1t is stiff at 7@S par cent; at Kansas City
more firm: at Omaha trif1e close, but fairly
supplied; at Milwaukee very active, ana to
some extent disturbed by a large lumber
failure in the interior; at Detroit the demand
is strong at per cent; at Cleveland the
tightness is highly ascribed TO the volume of
BUSINESS at Pittsburg the demand is fair at 6
OF per cent and only ut New Orleans Of all
the cities seporting, is the market easier.
The immediate fright at New York was
about supposed enormous demands for pay
ment Of duties If the new tariff should 60
into effect Oct. l. The fact. as officially re-
reported, is that less than 100000 would
pay full duties on all goods In warehouse on
which rates have been increased. but no one
supposes that the entire quantity would be
taken out, and meanwhile the treasury is
now offering to pay out $50 oO0. 900 for Ave
ment OF interest on the 4 per cents. If
there were no speculative tendency interfer-
ing with free movements Of crops, CONNER
cial bills would soon draw money from
abroad. but an unfavOrable crop report
causes higher prices for staples, and prior to
that the exports had been very light, prices
here being too high for foreign MARKETS..
Breadstuffs had not been strong until Thurs
day. the latest information as to yield being
generally more favorable. But the govern
ment report as to condition Sept. enabled
spectators to produce bear panic, and
the net advance for the week has been &c in
wheat on sales of 5000, 900 blu, SC in corn
on sales Of lO,0O0,OiO bu and &c in oats.
Lard and hogs were also stronger, and The
report that cotton was in condition a shade
lower than last year caused rise OF six
teenth, with sales of $4,000 bales for the
week. Other products have not changed
much in price, though oil is 24c lower. The
reports from other cities indicate no slacken-
Ing, of activity on account OF monetary
difficulty at points west or south of
Philadelphia. The reports as to collec-
ions are almost uniformly satisfactory. The
crops are moving fast, prices encouraging
farmers. but do not go forward to consumers
as rapidly. Distribution OF merchandise in
nearly all lines continues much in excess of
last years at every point reporting, aud at
Philadelphia and Boston the leather and
boot and shoe trades are exceptionally good:
at Boston the wool trade is much more active,
and at Chicago there is steady increase over
last year in movement of dry goods. boots
and shoes, clothing and meats st. Louis re-
ports strong trade in nearly all lines, and
from other points the accounts are of similar
tenor. The great Industries are doing well.
The weekly output of iron rises again to
171,776 tons, against 164,79S Aug. l, and
ps son Is agG though he n maT reeo 5eI
change in prices is seen. The bar. plate.
structural, sheet and wrought pipe mills are
all crowded with work at full and occasion
ally advancing prices. Greater activity in
the wooden manufacture is shown by the
rapid rise in sales, and the speedy passage OF
the tariff bill is anticipated as g basis for.
larger operations The activity in dry goods
is everywhere increased, while the demand is
large and general. The coal trade has done
nothing to speak of at August circular
prises and the demand here is below
expectations. The minor metals are strong,
though for copper the present demand is
light. In short there is every reason to look
for large and prosperous business if the
pressure in the money market is met, and
that pressure tends to cure itself quickly by
depressing speculation. The business failures
occurring throughout the country during the
| last seven days number 1913, as compared
| with 2O3 last week, and 1S9 the week pre-
vious to last. For the corresponding week of
| last year the figures were 1913.