St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-01
THE CROPSA AND TRADE
Dragging and Dull Business
Now, With an Awakening
in Sight.
Much Money Will Be Needed
to Move the Plentiful
Products.
Reports Of the Hard Wheat
Yield Are Decidedly Fa-
Vorable.
Grain Rates by Water Score
an Advance--Coal Famine
Imminent.

NEW YORK, July SIR. G. Dun &
Co.'s weekly review of trade will say:
Business continues dragging and dull.
In commercial circles there seems to be
a very general and growing confidence
that the business of the fall will be
large and profitable and some improve
ment is seen, but not enough as yet to
Justify sanguine views. Trade at the
South is peculiarly depressed because
there is too much cotton. Again, IN
parts of the West where crops failed
last vear trade has not yet recovered
from the great depression resulting, and
as long as the corn crop is in doubt
complete recovery is not to be expected.
In several states legislation hostile to
capital causes much disturbance. Fur
ther, the collapse of real estate Specula-
ton in many parts of the West and
South has brought severe losses and
embarrassment to many.
AT the East monetary uncertainties
have a powerful influence. European
difficulties do not pass as quickly or
fully as was expected, and now serious
financial trouble is apprehended in Rus
STA because Of failure of crops, which
will only help this country in the end.
There is growing doubt whether the
movement of crops here will not cause
q temporary drain greater than Eastern
money markets can meet; but If the
grain can be sold the gold will come.
One large financial institution has
bought English ~consolS to a consIdera-
BILE amount, and a leading trust COM
pany is said TO have S4,000,000 of its de-
posits in gold. Though no gold has
been exported, the outgo of currency to
the West and South is felt here and at
Boston. Money is close at Buffalo and
Cleveland, in active demand at Chicago,
Cincinnati and Detroit, firmer at Z to s
per cent. at st. Louis, in good supply
for legitimate business at Milwaukee,
close at Omaha, Nashville aud Atlanta,
tight at Jacksonville, but easier at Sa-
vannah and in fair supply at New
Orleans.
business at Boston has further i'm
proved. Hides are dull and domestic
lower at the West. Philadelphia notes
O frequent orders for wool and wool
ems and improvement in the tobacco
trade, and, while money is freely loaned
on call, time loans are almost lmpoSsl-
BILE to make. Chicago reports receipts
of wheat seven times that of last year;
rye. cured meats and lardS, double last
year; OF dressed beef a third larger, with
some increase in cheese and butter.
Dry goods sales are slightly larger and
good orders are seen for clothing and
shoes. At Omaha trade is fair and at
Milwaukee satisfactory. Increasing ac-
tivity is noted at st. Paul. Throughout
the Northwest the prospect of crops is
exceedingly good. but at Kansas City
wet weather interferes with harvesting.
The great Industries s 'OW no import
ant change for the week. though 1t must
be said that DISAGREEMENT in the
WOODEN goods trade seems to increase,
and it is admitted that sales are not
equal to last years, though the trade
was dragging then. Much of the trouble
is attributed to excessive credits in the
clothing trade. In boots and shoes there
is continued improvement, and Boston
shipments since July 2 have largely eX-
ceeded those of the same weeks last
year. The coal trade is still depressed
by excessive production, the output e
ceeding last years to date by {, 100000
tons. The market for breadstutfs has
been strengthened by reports of injury
to the crop in Russia, and wheat has
| risen IL cents and corn half a cent,
while no change appears in cotton. The
price of Oil las fallen over S cents f0I
the week, but pork products are a shade
stronger. The business failures occur
ring throughout the country for the las
seven days number PAT, as compared
with a total of 254 last week. For the
corresponding week of last year the
figures were lS9.