St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-22
DUN.S REVIEW.
The Grain EXciteIn emit General
Business Doing Well.

NEW YORK, Aug. PR. G. Dun & Co.'s
weekly review of trade during the past week
will say: During the week attention has
been absorbed by great excitement in grain.
Russian orders prohibiting exports of rye
were taken as official confirmation of the
worst reports regarding the harvest in that
country. The price here was suddenly ad-
Yanced go far as to stop exports, ana then
rapidly Teceded, closing at Sl.14L2, or 9l2c
above last weeks quotation. There is little
room to doubt that foreign demand will be
greater than ever If prices here are not
so advanced as to check it. 1t is
III the highest degree important that
the golden opportunity should not be lost
through such rise in prices as would cur
tail foreign consumption. The general bus
mess of the country does well, with gradual
Improvement in nearly all branches, based
on actualincrease of demand from farming
states. 1t may be doubted whether there has
ever been a more cautious and conservative
feeling prevalent at time when the pros
pect of a large trade was bright, and i'll
scarcely any branch is there seen a disposition
to venture upon large speculative purchases.
Stocks of goods carried over have been
large for years, and dealers are admonished
by failures, and there is so general DISPOSE
ton to purchase only what 1t is GER
tain consumers will require, that many
trades appear hesicating and almost dull.
Yet the volume of business is probably as
large as ever before at midsummer. Collec-
tons are not generally good II is well. also,
that in other speculative markets, except in
grain, there is little excitement While corn
advanced 6I2c, oats declined &c, and cotton,
with prospects of large crop, declined
sixteenth. coffee Ice per 100 lbs, and petro-
leum &c, while pork also fell soc per BARREL
with lard shade stronger 1t is a surprising
fact that the great iron industry does not
vet meet the setback which the enormous
production threatens. The market for wool
continues more active, Boston sales reaching
4,29S.U0O pounds for the week, and the ship
-,
though the trade here is quiet for do
nestle. but better for foreign wool.
In the East business is not very active, but
the outlook is held encouraging, Complaints
of collections continue, and the grocery
trade is dull, while no change appears i'll
paints oils and glass but tor iron there is
more inquiry. At Cleveland no change APP
pears and money is i'll strong demand, and
at Cincinnati manufacturers are quite busy,
while at Detroit business is good tor the sea-
son. At Chicago dry goods sales fall short
for the week. though larger than last year
for the year thus far, and sales of clothing
and shoes are large, while receipts of wheat
exceed last years four-fold, and of rye nine
fold, with an increase of about a
third in dressed beef, lard. hides
ana wool. at St. Louis largely in
creased orders are seen III nearly
all lines and at Kansas City trade was more
active. At St Paul and Minneapolis an ex-
cellent harvest makes trade prospects good,
and similar reports come from other North
western points. At the South business is
still dull. Money is tight at many Southern
points, and collections somewhat slow.
The stock market has decidedly improved
in tone. but there is no sign of speculative
madness, and, while prices are higher, sales
are not large. The money market has con-
tiuued undisturbed, notwithstanding large
movement to the interior for grain,
and apprehensions of the future do not
embarrass legitimate business, but put a
wholesome check upon speculative excite
ment. The treasury has put out S1.700c0)
more than it has taken in during the week.
and the failure to obtain for extension a
large part of the 4I2 per cent bonds seems
likely 10 oblige the treasury to disburse large
sums for the remaining bonds Sept. l. Money
is IN brisk demand at Northwestern points,
but easy for legitimate business at Chicago.
The business failures during the last seven
days number 2l6. as compared with a total of
227 last week. For the corresponding week
of last year the figures were 1y2.