St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-11-11
BUSINESS TIDE TURNED.
IMPROVEMENT IN THE DEMAND FOR
MANUFACTURED PRODUCTS.
CONFIDENCE IS GREATER.
Failures of the Week Show Small
Liabilities - Many Business
Men Breathe More Freely, Who
Have Been Carried over by
Extension - The Weekly Re-
view of Trade,
view of Trade.

New YORK, Nov. 1O.-R. G. Dun &
Co.'s weekly review of trade: The turn
of the tide has come. Since the cleo
tioDs there has been distinct improve
ment in business, and particularly in
manufacturing. There is some increase
IN actual transactions and much more
IN the tone of business. Men of all
parties feel that there is ground for
greater confidence, the silver question
being put definitely out of the way. and
the chance of disturbing action in other
respects being lessened, while the right
OF the people to rule their rulers has
been vindicated. While it is yet too
early to look for great changes, there is
already distinct Improvement in the
demand for manufactured products
since the action on the silver bill, some
increase III the output of pig iron and in
sales of wool. in the building trades in
several cities and the failures of the
week latest reported show lower liabili-
ties. In brief, the recovery which began
when the silver repeal bill passed con-
tinues with increased strength.
The output of pig iron, though not yet
half as large as that of a year ago, IS
larger than it was at the beginning of
October The monthly statement shows
SO,OI0 tons weekly against rs, ,S95 Oct. 1st
and l7l.0S2 Nov. l, 1892, and there is a
slight decrease in the stocks of unsold
iron on hand. The sudden fall in the
price of steel rails, which has been
maintained at $40 for long time, bYt is
now SD at the mills, has brought the
quick enlargement of demand which
might have been anticipated, and in turn
the demand for ore, coke and pig iron
improves.
Copper improves a little with a
stronger demand, but lead and tin are
slightly weaker after the speculative
advance last week. In boots and shoes
the decline in shipments compared with
last year is only II per cent for the
week. and more of the shops are active,
the long economy in purchases having
exhausted supplies of dealers.
The first week i'll November has been
passed. and thousands of business men
breathe more freely, because the appre-
hended failures i'll dry goods have been
much less numerous and less important
than was feared. No doubt it is true
that many concerns have been carried
over by extension, but even a moderate
revival OF trade will enable most of tenn
TO weather the storm. A gradual i'm
provement is seen in the market for cot
ton goods, with slightly better prices in
| PRINT cloths and some other grades.
The sales of wool for the week have
been 3. S64 800 pounds at the three priIf-
clpai markets. against s. 215, 900 last year.
While the production of mems wo0lens
from June to Nov. was only 1918
TIC yards against II, 7,0S5.O19 for the same
period las year, there Is good reason to
expect larger demand hereafter.
The volume of domestic trade, though
smaller than year ago, shows consid-
| eraDly less decrease than appeared in
September or October, the exchanges at
clearing houses outside New York be-
| ing only ia per cent smaller than for
the corresponding week last year.
The failures for the week past have
been 3l6 IN the United States, against
2lO for the same week last year, aud in
Canada 81. against 20 last year. There
were four failures with liabilities be-
tween 100000 and $500, 900 each, and
siXty-two with liabilities between $1,000
and $4,000 each. Tue liabilities for
| failures for last week reported show a
very encouraging decrease, amounting
to only So, 467. 900, against S7,413.O0O for
the preceding week, and it is noticed
that while the number of failures does
not materially decline as yet, there are
fewer of Importance.