St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-03
GOOD COMMERCIAL PAPER.
INTERVIEWS WITH BANKERS INDICATE
An INCREASED OFFERING.
EFFECT OF TEgE BOND ISSUE.

Industrial Establishments Re-
opening in Large Numbers
improvements in Iron and Steel,
Increased Shipments of Shoes,
WooIcns and Other Goods
From New England.
New YORK, Feb. 2.-Bradstreet's to-
morrow will say: The success of the
government bond issue is regarded with
qualified satisfaction, but the effect on
either speculation or investment Is
merely sentimental. Interviews with
bankers at New York, Troy, Syracuse,
Paterson, Cleveland, Chicago ahd Nash
vile show that the volume of mercan-
tile paper offering has increased, though
not to large extent Providence and
Boston banks ara buying paper from
other cities. AT such centers as Kan
sas City, st. Louis, Cincinnati. Pitts
burg, Philadelphia, Minneapolis, st.
Paul, Milwaukee and Newark there is
no increase in the volume of CONNER
cial paper offered. In industrial lines
the number of establishments reopen
ing is more than ten to one of the num-
Der shutting down. In fact, there is
reason to believe that hundreds Of in-
duStrial establishments have begun
work within a week or two, al
though not on full time in
all cases. of which no specified mention
has been made in print. Available
stocks of wheat in the United States
and Canada, both coasts, decreased net
$685. bushels last month, hut in jan
uary, 1892, and in two preceding years,
decreases of such accumulations ranged
between 100000 and 100000 bushels
for the month. Wheat stocks here and
in Canada are slightly less than one
year ago, but 80 per cent larger than
two years ago, and 100 per cent larger
than
THREE YEARS AGO,
while these supplies added to those
afl0at for and IN Europe on Feb are
the heaviest on record at like dates
with the exception of three years ago.
The January decrease of European,
afloat, American and Canadian wheat at
stock &c, $4,000 bushels) was larger than
In the same month of last year or the
year before, but less than the months
average decline in the three preceding
years. Last weeks improvement
in iron and steel is continued,
stocks Of raw and finished ma
terials in consumers hands being
estimated at LOCO, 900 tons smaller than
year ago. The cut in prices of pig
iron at PittSburg has resulted in orders
for future delivery, and even at Phila-
delphia improving demand is regarded
as evidence of permanent gain. Ship
ments of shoes from New England have
increased z or per cent within the
week, and the extension of time for the
tariff TO take effect on wool and woolens
has resulted in Boston's sales jumping
from 100000 pounds last week to 4. OOO.-
600 pounds this week, while at PhiIa-
delpha the trade has been stimulated
also. Prints, ginghams and other wash
fabrics are iobblng well, but wooden
goods mills report orders unsatisfactory.
and there is a tendency to curtail the
output of fine cottons. The weeks
exports of wheat, both coasts of
the United States and Canada, -four
included as wheat, aggregate 2,Os3,.
900 bushels, compared with about
100000 bushels last week, 1928, 900
bushels year ago, and 4, 740. 900 bushels
the week two years ago. There are $40
business failures reported throughout