St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-10-21

1SEuShSJs
New YORK, Oct. 2O.-Bradstreet's to-
morrow will say: Still another business
week is rendered conspicuous owing to
the paralysis imposed on commercial
and industrial operations by the revo-
lutiOnary policy of the minority i'll the
senate. Larg representative manu-
facturers, jobbers and other wholesalers
in leading lines have been unable to
operate with reference to the future
supply or demand, and the result is that
the great iron and steel industries re-
main practically on their backs, with no
signs of revival in either demand or
price; In iron alone there is probably
not more than one-third the output OF a
year ago: wool is being sold at conces-
sonS from quotations, and mill owners
are taking raw material for actual needs
only; tt Xtile industries generally are not
finding the better demand expected at
this time; leather industries continue
much depressed; clothing manufacture
erS make unfav0rable reports on the
business thus far this fall, and at some
industrial centers, notably Paterson, n.
j., home of silk and iron factories and
mills, the industrial situation has adj
vauced steadily from bad TO worse, and
the end is not yet. On the other side of
the account may be placed the relative
activity in whisky and tobacco at West
ern centerS, and in rice and cotton and
fertilizers at some Southern, together
with heavy output OF wheat and flour
at Northwestern points and large ship
ments of wheat to market within a
week. Prices of staples show an up
ward swing of the pendulum with ref
erence to wheat, corn, oats, pork, coffee.
cotton, rice, phosphate rock and naval
stores.
Bradstreet's estimate of a domestic
wheat crop this year amounting to 4fOs-
O00,00O bushels has been accepted by
Beerbohm, the first European authority
on cereal statistics, is cOrrOborated by
special investigation by Western agri-
cultural paper. If official estimates are
to prevail, our available export surplus
is now within Is. 600, 600 bushels OF being
all exported. Reports of wheat and
wheat flour as wheat from both coasts
of the United States and Canada this
week equal 2,709,000 bushels, against
.. ST., 600 bushels last week. There is
slight Improvement in trade at Toronto.
offset in part by practical demoraiza-
! ton of the export cattle trade.
BradStreet'S financial review tomor-
row will say:
Exp citations of a compromise on the
silver repeal bill, or of the amendment
Of the senate'S rules, seemed to be re-
garded as sustaining influences III the
cnannlntInn market
throughout showed much stronger
tendency to respond to such factors
than to give way under the pressure of
the long delay in the senate. Prices
declined rather sharply at the close OF
last week, when the continuous session
was abandoned, but this movement
proved to be only temporary, rally EN-
suing as soon as it became apparent
that the repeal forces were prac-
tica!ly unbroken. The trading at once
became dull and professional, and t1uc-
tuatiOnS were confined TO narrow
limits, although interests which have
been we'll informed as to the outlook at
| Washington extended support to their
speciatieS, and afforded further effect
I i've resistance to the natural tendency
of the board room traders To mark prices
down. At this same time the short i'll
terest remained so large that the slight
est increase in its dimensions seemed to
| produce quick though brief rallies on
any favorable rumors from the national
capital.
| Friday the market responded to the
tangible expectations of Il compromise
| on repeal by a general upward move
ment of prices, the market closing, in
| spite OF the prospect OF some further
delay, at the best figures of the week.