St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-22
DUN'S REVIEW.
The Grain EXcitem emit General
RuSiI,eSS 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 90 far as to stop exports. and then
rapidly receded, closing at Sl.l4L2. or 9l2c
above last weeks quotation. There is little
room to doubt that foreign demand will be
greater than ever if prices mere are not
so advanced as to check it. 1t is
il the highest degree important that
the golden opportunity should not be lost
through such II 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 q large trade was bright and Ill
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 Sc, while pork also fell soc per barrel,
with lard shade stronger 1t is surprising
fact that the great iron industry does not
vet meet the setback which the enormous
production threatens. The market for wool
4,2gS. 600 pounds for the week, and the ship
ments being very large from Chicago,
though the trade here is quiet for do
nestle. but better for foreign wool.
the outlook is held encouraging, Complaints
of collections continue, and the grocery
trade is dull, while no change appears in
paints, oils and glass. but tor iron there is
more inquiry. At Cleveland no change ap-
pears and money is in 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 wear 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
third in dressed beef, lard. hides
ana wool At st. Louis largely in
all lines, and al 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 pOIuts. AZ lhS oOuih BUSINESS -
| 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
| ma0t The treasury has pat out Sl,1OOCO}
more than it has taken in during the week,
and the failure to obtain for extension a
| large part of the 4l2 per cent bonds seems
likely TO oblige the treasury to disburse large
sums for the remaining bonds Sept. l. Money
! is In brisk demand at Northwestern points,
I but easy for legitimate business at Chicago.
The business failures during the last seven
! days number 216 as compared with total of
227 last week. For the corresponding week
| of last year the figures were ly2.