St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-03

NEW YORK, March ar. &. Dun &
Co.'s weekly review of trade says: With
no more definite information than a
week ago regarding the outcome of the
financial or revenue disputes, perhaps
more people have. come to the belief
that the end will answer their wishes.
Certainly rather more are taking limited
risks in business, especially in stocks.
A substantial basis is the slowly grow
ing demand for goods caused by gradual
exhaustion of stocks held by dealers,
and this has further enlarged the work
ing force in manufactures.
More works have resumed or in
creased hands or hours than have
stopped or reduced, but numerous re-
ductions in wages continue to
lessen the purchasing power of
those at work. The demand from
distributors is almost exclusively
for medium or low-priced WOODEN and cot
ton goods, for $3.50 and 50 boots. and for
shoes rather than boots. Some 'es-
men and traders find indications that
stocks of the hIgher-priced goods re-
naming OH hand are much larger than
usual, and bankers judge that much of
the demand for commercial loans is
virtually for renewals TO carry such un-
sold stocks. Sharp reductions in Indian
Head sheetings and Amoskeag tickingS
cause large trading, but print cloths are
accommodating and weak. and several
mills of Importance have closed. In all
branches of the wooden manufacture the
demand is yet far below the usual mark.
but it is somewhat improved in WOrsted
and dress goods, and
LEADING MILLS
have been taking wool quite largely, so
that in three chief markets the sales
have been 1897, 200 pounds for the week.
against 5,l97, 200 last year. in part be-
cause scarcely any foreign wool has
been imported for months, and supplies
are short. Western markets are also
broader without improvement in price.
Continued weakness appeared in
prices of metal products. notwithstand-
ing some increase in actual business.
Plttsburg offers steel bars here at LIS,
which is only cent at the mill. Plates
are offered at 1.25 at tidewater. and
beams delivered here at 1.35.
Moderate orders for cast pipe have
been y ed, and some large structural
contracts. with others expected Even
in the Pittsburg region little over half
the force is employed. and only 81 per
cent of the Connellsville coke ovens are
yet in operation. A few more furnaces
are in blast; Southern pig is weaker,
and 5000 tons Southern warrants have
been taken by English holders, who now
have 5000 tons. There are heavy trans
actions in lake ore at PittSburg, and it
is said that with ore at S22.75, coke at So
cents, and wages reduced 90 per cent.
many furnaces can make iron at
profit even at present prices. Minor
metals are weaker, tin in part because
of the fall in silver and disorganized
Eastern exchanges. and lead because of
expected legislation. Shipments of
boots and shoes from Boston show a
decrease of only per cent for the
week, which is the best for long time,
and there is more buying, but almost
exclusively of medium and w-priced
goods.
RECEIPTS AND EXPLOITS
of wheat for the week have been only
about half last years, while there is
great increase both in receipts and in
exports of corn, but scarcely any change
is seen id prices OF these or other prod
ucts. Cotton receipts for the week still
slightly above last years, but the fall in
silver and the closing of some mills
hinder a rise in prices. Railway ton
mage from Chicago was but 81 per
cent less than last year, against
80 per cent for February. I'M
ports of merchandise still show
a decrease OF 40 per cent, while
exports OF domestic products for three
weeks are per cent larger than last
year. The buying power of the people
Is necessarily restricted with many
works idle and wages much reduced,
and apprehensions for the future eau Sc
general economy. The most encourage
ing feature OF the weeks record is the
continued decrease in number and i'm
portance of failures. For the third week
of February liabilities thus far reported
are only 50, $50, 346. and for three weeks
Of the month only Sl1, 420,4l of which
S5,045.S SAT were of manufacturing and
IS, PSI, 693 of trading concerns. The
number rep, TT I'd in February is l. 260,
as against 2,0SO in January, and the full
liabilities were probably less than Sl5,-
600, 900, against $50, GAG, 497 in January.
In November and December the amount
exceeded $50, ZOO 900. For the past week
the failures have been 264 i'll the United
States. against 2C6 last year, and 40 In
Canada, against IS last year, scarcely
any being of much Importance.