St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-04
THE CRISIS is NEAR,
Belief Evident That Whatever
the Decision on Tariff
1t Will
CAUSE A REVIVAL OF TRADE.
Already There Are Signs of
Preparations for Increase
Of Business.
SCAUSE A REVIVAL OF TRADE.
WAR CREATING A DEMAND
For Grain and Provisions.
Crop Injury Exaggerated
Trade Reviews.


Co.'s weekly review of trade, which
issues tomorrow, will say: An impor-
tant change in the state of business Is
near at hand. Congress will act on the
tariff question. one way or the other, in
all probability, within week. If it
passes the pending bill or if il fails, In
either case the definite basis for further
business Will enable many to act who
are now waiting. Whether the one
course or the other would stimulate the
greater increase, it is certain that either
would give relief from present paralyz-
Ing uncertainties and cause some in
crease in business. at least for time.
So much business has been deferred
during the past year, and merchandise
stocks have been so reduced, that the
mere approach OF a decision, without
certainty what it is to be. has this week
encouraged large preparation for
Increased Business.
In spite of outgoing gold and sinking
treasury reserves. small railroad earn
ings, some injury to crops and increased
trouble in the coke regions. the tone
and outlook are more hopeful.
The injury to crops by hot winds and
drought, If as great as some report, will
affect all interests, but at this season II
Is never easy to distinguish between
local and general damage. Western re-
ceipts of wheat were 6.400. 254 bushels,
against 4.002,G96 last year. which does
not encourage notions of a short yield,
and exports were only l,599.5 6s bushels
,ok
last year. Corn exports were only 49,
43S bushels, against 1.599.7Sl last year,
and receipts 1,952.S43, against 1852, 976.
but it seems undeniable that the crop
has sustained considerable injury. Cot
ton declined One-elghth, with estimates
of yield exceeding $500, 900 bales.
Sales of wool were S,522.00o pounds,
against 8, 742, 05o last year. and 1886, 400
the year before, and for five weeks end
ing July were 80. $50. rs pounds. against
14.43S,950 last year, and $3.50, $50 in
1892. 1t seems that large part of the
sales this week were to fill orders
actually booked. and the rush of belated
clothiers and dealers to get goods for
the fall trade gives most manufacturers
More Than They Can Do
for month or two, though there seems
to be no demand whatever for spring
goods, and manufacturers are making
no effort to get orders. Wool has been
advanced for many kinds cent, and
the average about % cent, after the de
cline Of II cents from May l..
Recovery in iron manufacture is him
dered by greater trouble in the coke re-
gion. where many of the new colored
hands have quit and gone back to the
South, and the strikers have decided to
continue the struggle. Somewhat bet
ter business appears at PHILADELPHIA,
but the market hare is dull. There is DO
Improvement in quantities of manufac-
tured forms required at Pittsburg or the
West. and in general the demand for
finished products is disappointing.
Prices remain nearly unchanged, though
with numerous small contracts for
structural work, beams are a shade
stronger, while Bessemer iron, bar iron
aud wire nails are shade weaker. The
demand crowds all works producing low
priced shoes, while manufacturers of
better grades are left dependent upon
slender daily orders to keep their shops
in operation. Shipments from Boston
for the week are 25 per cent larger than
last year, and for July ~ per cent, but
a decrease compared with 1892 of IL per
cent.
Commercial liabilities thus far report
ed in failures during July amounted to
S9,016, IT'S. of which 81, 500, 22O were of
manufacturing and s.. 90, 40 of trading
concerns, and the decrease for the
month, though great in comparison
with last year. is hardly as much as has
been expected. he failures this week
have been 219 in the United States
against 1876 last year, and A in Canada
against "a last year.