St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-13

Large Excess OF Deposits Over
Payments ut the Big Savings
Banks--Rcsumption of Work
at Industrial Establishments,
and an Increase of 81 per Cent
in the Production of Pig Iron.
New YORK, Jan. 12.-R. G. Dun &
Co.'s weekly review of trade: Business
has distinctly improved since the
new year came, and the gain Is no
longer visible only in speculative mar.
kets. This is the only kind of improve
ment that has IL 1t possibilities of last
Ing, because it is based upon actual i'll
crease in the production by industries.
AS all rejoice to see ii, there is perhaps
a little disposition to reckon the gain
greater than it IS as yet, but several
large establishments have started with
part force, hoping to increase, and more
smaller works have started than have
stopped. Orders from dealers whose
stocks approach exhaustion form a
prominent cause; another is the widely
prevalent impression that action at
Washington will be more satisfactory
than many have expected; and belief
that in any case the situation will not
be changed until goods now in the
works can be marketed has weight in
some trades. Whatever the causes, even
moderate gain is most cheering.
The output of pig iron Jan. l is reck-
oned by the Iror Age 99.0S7 tons week
ly, which is slightly less than Dec. l,
though the Pittsburg authorities make
1t little larger. In either case it Is
from Il 10 43 per cent less than a year
ago. and stocks of unsold pig increase
19,457 tons in December. though they
decreased as much In November. Sew
eral more furnaces begin production
this month, aDd prices show no recov-
cry. Indeed, the Low moor works of
Virginia have reduced the price
of No. foundry to S13 per ton,
and finished products are weaker;
steel biliets and bars again making
the lowest price on record. though
the tone is more hopeful both here and
at the West, with a little more business.
Copper, tin and lead are weaker. Sales
of wool for the week are 2,7S6, 900
pounds at the three chief markets,
against 5,S05, 500 last year, but there is
more inquiry from worsted and carpet
manufacturers, some having started
machinery. Overcoatings are 10 to Is
per cent lower than year ago, but the
deliveries of dress goods are larger than
of late, and the demand is more urgent.
In cotton goods there is no definite
nhonOn ShinnpntC Rf hnnfc and
for the week Were nearly a quarter
smaller than a year ago, but, there is
growing confidence that the business
must soon increase.
Wheat is shade weaker, though
Western receipts are 1850 bushels
for the week against 3,93S,OO0 a year
ago. Atlantic exports are only 67O,000
bushels, against 1.4SS.000 last year.
Stocks In sight decrease but little, and
government crop estimates get little at
stention. Corn is naturally weaker with
very large receipts, though exports are
60 per cent larger than year ago. Cot
ton has been lifted by speculation 3,16,
though the decrease in receipts is not
large, and stocks in sight here and
abroad are big enough to meet nearly
half d years consumption. Bank clear
ings also indicate that no large gain has
occurred as yet i'll the volume of busi-
ness, being 81 per cent smaller than a
year ago.
Failures for the week have been 474
in the United States against 2S6 last
year. and 81 in Canada against 30 last
year.
The liabilities of all firms failing for
the week ending Jan. 4, were S5.672,-
544.