St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-27

solid basis for greater confidence re-
garding the financial future. The reve-
nue is still small. from customs In JAM
uary thus far sl0,s05,50l, against sl9,-
9S5,6S5 last year, and from internal taxes
S9,4S7.979, against Sll.06S. 49S. and the
volume of domestic trade is still small
The increase in number OF hands en-
ployed adds to the purchasing power OF
the people, and dealers stocks are so
reduced that any sign Of larger COLI
sumption quickly gives mills more or
ders. In short, the conditions are SUCH
that, if not interrupted by adverse
steady revival of business. -
Industrial gain is more definite than
a week ago. Few establishments have
stopped work, while many have re-
sumed or Increased production. and,
though these are not works employing
thousands each, the aggregate increase
is considerable. Reductions in wages
continue, and about a quarter OF them
are OF 20 per cent. the rest ranging from
to II per cent. In no direction are
quotations of manufactured products
higher, but. while some have actually
declined, the general tone is somewhat
stronger. Thus distinct Improvement
Is seen in the demand for iron products
at Philadelphia, though for some. which
it was thought could not go lower, ono
tatiOnS have been reduced. Sales of
pig iron are larger, though 5000 is now
the open quotation for Bessemer at
Pittsburg, and Southern forge is sold for
1918 at Birmingham. the lower price
telegraphed last week having been, it is
stated, for lot of Inferior quality. The
Tennessee Coal and Iron company has
made contracts for ore which reduce
the cost of its iron 221s cents per ton,
and lower contracts for ore and freightS
are reducing the cost TO consumers of
lake ore. COnnellSville coke is quoted
at 81 per ton. with the number of ovens
in operation practically unchanged. The
increase Ill demand for iron products is
mainly IN structural forms, cast pipe,
wire rods, barbed wire and wire nails,
while lii rails and other railway iron
business is remarkably small. Textile
industries have increased working force
mainly III knit goods, underwear and
carpets, though several WOODEN mills
have started, and others are reported
about Is start. Sales OF wool are larger,
amounting at the chief markets to
4,O33,2O0 pounds against 5,G6l.35 for
the same week last year, but prices
DIT l nilaucIpnla are Dalt cent to cent
lower, while at New York there is more
inquiry from carpet and other mills.
Trading was checked by disappoint-
ment regarding the date at which
changes of duty are to take effect. and
there is little desire TO place or accept
orders until the future is more clear.
The shoe and leather trades appear to
gam little, though shipments from
Boston Tor the weak are again "a per
cent smaller than last year. Produce
markets have been decidedly dull,
though wheat for May fell at one time
to the lowest point on record.
Failures i'll the United States were $50
this week, against 255 last year, and 80
in Canada, against 40 last year. None
are of great mannltude. The liabilities
of firms failing thus far reported this
year amount to S13, 655 $50, of which
S6,072,S37 were of manufacturing. and
ST, So, 353 Of trading concerns.