St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-29
BUNS REVIEW.
The Grain Speculation Fever Is
BrOExen-PPOSpe Bright,

NEW YoBK, Aug. 2S-R G. DuD's weekly
review OF trade will say: The speculation i'll
breadstutfs has broken down. The failure to
export at more than about SL10 for wheat
has administered the corrective which this
trade greatly needed. The threatened with
draWal of the crop by the Farmers Alliance
amounts to so little that receipts were H.
100000 bushels for the last week reported,
against 100000 for the corresponding week
last year, While receipts of other grain
slightly decrease Money is moving rapidly
TO the interior but the treasury has been
Strengthening itself adding s2,S00,0G0 TO
its gold for the week, and also TAX
ing in 100000 more treasury notes
than it has put out By recurring
deposits ofgOld at New York against ship
ments of currency TO the country banks, the
treasury has somewhat increased its gold re-
serve, but The main fact is that its receipts
for the past week have exceeded Its pay
ments OF ali kinds by about S1,2G0000. The
Official announcement that all the 4I2 per
cent bonds not offered for extension Sept l,
Will be paid Oh demand promises a large adj
dltlon TO the available currency after the
first of next month. Crop prospects are in
all respects exceedingly bright, and the re-
ports OF injury by frost do not appear to
affect any considerable proportion of the
crop. There is every reason to seppose that
the yield of wheat Will be much larger than
the 554.000000 bushels stmated by the
agricultural department, though a yield
no greater would leave 200,000000
somewhat stronger in sympathy with
corn, but oil is lower, and also coffee. Cotton
has advanced 3-16c. II would be a good
thing for producers. in all probabilities, ii q
considerable part of the forthcoming crop
should be cut off by unfavorable weather.
The market for iron shows somewhat
larger sales and better demand though new
brands Of Virginia iron are still offered at
low prices; little improvement is seen in
bar iron, anG plates are more active, though
prices are very low; structural iron is in fair
demand, but not stronger in prices; the de-
mand for rails is stagnant, the combination
having succeeded III so far maintaining the
price that buyers are disposed to wait as long
as possible; i'll the minor metals no change
is seen in prices. Coal is weak, but there is
better feeling in the market.
Sales of wool continue large, and the manu-
facture is fairly well employed. At Chicago
receipts of wheat are increased fOurfold and
OF wool twofold, compared with last year,
and increase is seen in -four cheese and III
sales of dry goods, clothing and Shoes but s.
decrease of ll2c in cured meats, 15c in lara
and some increase in butter, hides and oats.
A heavy increase is seen in trade at st. Louis,
country merchants buying literally, and
trade is improved at Kansas City and at Min
neapols and st. Paul. harvest products being
of the brightest. At Nashville the grocery
trade is better, but other business only fair,
and very little improvement is seen at Mem
phis. while trade in cotton is slightly irn
proved at New Orleans and at Galveston the
prospects are favorable.
AS much depends upon the balance of for
eign trade. it is highly important that the i'm
ports for July exceed the exports by only
So, 100000, instead of 1923 5000, 900 last year. and
for August thus far the increase in exports at
New York is II q per cent while in imports
there is a decrease OF IS per cent Prices Of
all commodities have declined ID per cent
for the past week.
The stock market at New York has been
comparatively free from speculative excite
St. l, g.,
buying and not much realizing thus far by
foreign holders
The business failures occurring during the
last seven DAYS number 226, as compared
with total of 2l6 last week. For the cor
responding week of last year the figures
were lS9