St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-08
DUN.S REVIEW.
Despite Present Dizziness Con-
fiIence Is Felt.

New YORK, Aug. 7.-R. q. Dun & Co. s
weekly review of trade will say: With bust
ness in many lines disappointingly dull, the
feeling of confidence nevertheless distinctly
increases. The belief increases that the coun-
try will be able TO sell such vast quantities
of grain abroad. and 10 draw SO heavily upon
foreign supplies of capital, that all nome In
dustreS will be greatly stimulated. Monetary
difficulties are still in the future, for though
at some Southern points markets are tight,
supplies at Western centers are adequate
for legitimate business ana mere speculation
gets less help than usual.
Depression in some great industries con-
tinues and is real, but may be traced to
causes obviously not permanent. Thus
the iron manufacture is much set back by
inability of railroads to make purchases, be-
cause they fail to negotiate securities. Cot
ton manufacture, retarded by the eXtraordl-
nary fall in the price OF cotton ana conse,
Quent losses on goods made from material
purchased early in the past year. still finds
fairly large demand, and at some reduction
in prices most goods are moving freely.
The wool manufacture is distinctly lmprov-
ing In mems wear goods there is more
encouragement and many Western buyers
now here have from home advlces that goods
are selling more freely. Spring orders are
still short of the usual amount, and last year
clothiers bought too much of cheap low
grade goods. In dress goods fair commits
sion business is seen, domestic products
largely taking the place of foreign
Reports from other cities reflect growing
confidence in the future. At Boston trade III
merchandise increases and is very good Tor
boots and shoes, with factories well en-
ployed, and Western and Southern reports
are quite favorable With active trade in
wool and better i'll goods, the close money
market causes some embarrassment. AT
Cleveland trade is charging with confidence,
and at Cincinnati the furniture trade is
especially growing but at both cities collec
tons are but fair. Chicago feels the effect of
great crops distinctly, wheat receipts being
seven fold las: years; rye five fold, barley
two fold, wool nearly double. and i'll corn.
beef butter and hides some increase appears,
as also in sales of dry goods. Sales of cloth
ing and shoes are larger than ever before at
this season, and in all collections are salts
factory At all Western points the crop
prospects are almost everywhere mentioned
as unsurpassed, and at st. LOUIS the demand
for money in the interior grows more press
Ing and commercial borrowers are held
closely to their needs. At Minneapolis and
St Paul Omaha and Kansas City trade is
generally good.
Prices of commodities are going down. and
for the first time this year the general level
is lower than year ago. having declined u
per cent the past week. Wheat mas fallen "a
of q cent in spite of exports greatly exceed
ing last wear s. and the enormous Western re-
ceipts make constantly repeated assertions
that the Alliance can hold back wheat ap-
pear ridiculous. Western estimates, not
usually extreme, now allow from $50, uOO,G00
bu upward for the crop, while even more
moderate Eastern estimates make 2OO,COJ,00O
bu for export Corn is 112c lower, pork
products fraction lower, coffee 1sc and oils
1c lower
Financial prospects have not changed, and
though money on call is cheap, commercial
loans are made with caution. Large failures
have occurred. but none threatening inan-
cial disturbance The tone abroad Is less
strained, and the Bank of France has gained
gold largely, but pressure IN Europe must re-
suit if need, for breadstuffs are as large as is
supposed. Foreign imports of merchandise
in New York in July fall 10 per cent below
last year, while exports largely increase. The
demand for money To move crops begins 10
be felt by many banks. The business fail
ures occurring throughout the country dur
ing the last seven days number 23l, as com
pared with a total of PAT last week. For the
corresponding week of last year the figures
were 2Uo.