St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-27
The HOLIDAY TRADE,
r. G. Dun & Co.'s Review Re-
ports 1t Extremely Heavy
Everywhere.
Railway Earnings Also Show
a Gain Over Last De-
cember.
The Wheat Market Sluggish,
With a Tendency Down.
ward.
Dealers in Wall Street Wait
ing for Semi-Annual Divi-
dends.

NEW YORK. Dec. 26.-R. G. Dun &
Co.'s weekly review of trade says: Bust
ness has progressed as well as could he
expected i'll a week broken by the
Christmas holiday and a great snow
storm. The holiday trade was remark
ably heavy here and at nearly all points
good, which is by no means evidence
that The tightness of the money market
springs from any general enbarraSS-
heiit OF business or industry. The vol
ume OF payments through banks COLI
Times larger, though but 8 per cent
larger than a year ago. Railroad earn
ings thus far reported for December also
shoW a gain of about 4 per cent over
those of the same weeks last year. For
elgn trade Is very heavy, in spite of
causes which were expected to insure a
material decrease. The uncertainty in
regard to monetary legislation and Its
effects is still the great obstacle, but
even this has less disturbing in
huence than it had a week OF
two ago, as the prospect of unwise &C.
ton seems more remote, and the money
markets have generally grown easter
during the past week, not only at the
East. but at some of the Western and
Southern centerS.
Reports from other cities disclose no
important change i'll the condition of
trade. Wholesale business naturally
slackens and is quiet at this point in the
year. and the indispOsitiom to act is
rather increased by the hardness of COL
lect OnS. But at Boston prospects are
considered better for trade in wooden
and cotton goods. Conditions at other
Eastern cities have not been essentially
different, though at Pittsburg Bessemer
iron has sold at SIG. 25, the lowest price
for the year, and all pig iron
is at bottom prices. Manufactured
iron is in fair demand and rails
unchanged. The flint glass tade
is quite active with fewer hands idle
than for months past. and the window
glass trade is fair. At points further
West, expectation of Improvement after
Jan. l is general. though trade is quiet
in wholesale lines. but fully up TO last
years mark. At Kansas City whole
sale trade is quite goad, but cattletand
hog receipts are light. At Lincoln,
Neb.. business exceeds that of last
year, though fear of state legislation
against lenders tends to increase the
prevailing stringency. AT Denver the
emand for money is lighter and the
supply equal to legitimate needs, but at
Salt Lake the money market is ex-
tremely close and the outlook unsatiS-
factory. AT other points in the North
west the monetary situation seems
rather better.
Reports from the South also indicate
some Improvement. Manufacturers at
Louisville are fully employed, though
money is very close. Trade at Atlanta
improves, cotton moving more satiSfac-
tOrily. and at Galveston the receipts eX-
coed last years. New Orleans reports
fair trade. larger receipts of cotton. the
crop being there estimated at 7,7OO, 600
bales, and good receipts of sugar and
molasses, with steady prices. Through
out the South the fictitious prices MAIN
tanned last summer and fall for cotton
have caused some embarrassment, being
followed by the inevitable decline as
the magnitude of the crops became
known. But more than 5,0OO,0 900 bales
have already passed out of the hands of
the producers. mainly at fair prices. 1t
is especially encouraging that thus far
there has been SO little embarrassment
and SO few failures among the important
manufacturing works recently eStab-
lished in that section.
While the situation of the iron and
oUNSA Aho0SNl ClOMO III Improvement.
the fact that the closing weeks of the
year are passing without any serious
setback gives encouragement. There is
anxiety as to the demand which may
appear with the new year. since it is
generally perceived that many works
must remain idle for q time unless there
is decided increase in consumption.
But for most finished products, the
consumption is even now so great that
in any previous year it would
have been considered emineutly
satisfactory. sThe exception is
the steel rail business, IN which a crisis
minent, a provisional agreement made
during the past week in this city have
been defeated by refusal of an Eastern
firm to enter. The manufacturer is
clearly enjoying a large demand for
most products since impOrtatiOns were
reduced, but AS yet no considerable in
crease III price has been found practi-
cable. The readjustment of prices in
the boot and shoe and leather indus
tries seem to he progressing, with less
prospect of any serious embarrassment.
On the whole labor has never been
more fully employed than in the latter
part of 1890.
The monetary situation grows more
satisfactory, because treasury disburse-
mentS continue and arrivals of gold and
the o excess of merchandise
exports over imports is felt. In three
weeks of December exports from New
York have been z per cent greater than
last year, which would indicate heavier
exports than in any previous month,
while the increase in exports has been
but 2 per cent. These facts point to an
excess of exports as large as the S37.OO0,-
Coz of last December, and in November
the excess of exports over imports was
more than $500 900. Tie. e has net d en-
much activity III speculation this weeh,
though corn has fallen 214c ana Oats
1c and cotton 3-16ths, but wheat is
&c higher. coffee &c and oil 4Ic. The
stock market has been left to the pro-
~feSsionacs, who have chosen to do but
little until the new year has begun. 1t
is by all classes believed that monetary
pressure will cease soon after Jan. 1. at
least for a time, and if no disturbing
legislation comes, trade may be expect
ed to revive with vigor. 1t is a good
symptom that, instead of increasing
toward the end of the year, failures
have become less important and less
frequent.
The business failures occurring
throughout the country during the last
sever days number 333, as compared
with a total of 404 last week. For the
oA,-racnardfnn xunnl- 4f Loot H.