St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-03-22
FAIRLY SATISFACTORY.
Business Is Not Booming. But
There Is No Cause for Conn
DIaint.

New loRK, March 21.-R. g. Dun &
Co.'s weekly review of trade says:
The volume of business is indiSputably
larger than in any previous year at this
season. The tonnage shipped eastward
by railroads still continues larger than
ever. Railroad earnings thus far re-
ported for March exceed those of any
previous year. Bank clearings at New
York show gain over last year of 81
per cent; at Boston, Philadelphia and
Chicago of Upper cent, and at all other
cities of IL per cent. All the signs
prove that actual shrinkage of cOnSump-
ton is confined to a few lines only,
principally those affected directly
by the absence of winter, but
that in other branches con-
sumption is larger than at any former
time. In some cases, as in iron, the
only difficulty or danger comes from
the fact that consumption clearly the
largest ever known is probably sur
passed by production far beyond all
records. Reports from every part of
the country represent trade as fairly
satisfactory, though signs OF dizziness
seem to increase at Philadelphia, where
the squirt of winter has set back spring
trade. Chicago has. as usual, large
increase over last year in grain and
beef products, and some increase in dry
goods, with good sales of shoes, and bet
ter collections in both trades. st. Louis
notes fairly active trade and satiSfac-
tory collections. New Orleans reports
planting much interrupted by floods.
but the danger abating and bust
ness fair. Cleveland, Denver and
Omaha report improvement, and other
Western cities fairly satisfactory trade,
of onIlontinne 70 1tr
but at PittSburg depression in iron and
steel and slow trade in glass, due to
eXtravagant cost of materials, cause
some disappointment. Those who Ia
bored so long to convince themselves
that prices of iron and its products
must rise, in spite of the unprecedented
output, now admit that prices are lower,
and the market unsettled and close Oh
to decentralization. The offers OF South
ern iron are the obvious cause-No. at
S1S.25 mere and gray forge at $3.50.
Lower prices by % to so cents per ton
are made at Pittsburg, with 81
lower for nails, 50 lower for
blooms and billets. and manufact-
ured iron weaker. The fact of great
est significance, repeatedly noted here,
has been the slackening in demand for
finished products, and some concessions
are now made in Eastern markets on
rails; for billets there are few sellers
and no buyers, and the bar mills are
running short Of orders. In fact, con-
sumption is larger than a year ago. but
clearly shows reaction from the great
rush of last fall. In dry goods pre-
vailing feature is the extreme caution
of buyers, except from the South, which
does a larger business than ever, but
the state of trade On the whole is not en-
couraging. Another import failure
comes at time when banks had begun
to seek commercial paper more freely.
Importers are rushing in goods in
anticipation of change of tar
itf, but in dress goods it
is between seasons, in mems woolens
trade is limited, and many mills are not
supplied with orders; and in cottons,
while sales are fair in volume, the pres
ent high price of material affects
profits. Cotton has been steady, re-
ceipts falling $1,000 bales and exports
$4,000 below last years for the same
week. Wool is dull and weaker, the