St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-17
RECORD BREAKING.
Lowest Prices Made During the
Week in several Commodities.

New YORK, Feb. 16.-R. G. Dun &
Co.'s weekly review: This has been Il
week of record breaking. In wheat. in
silver.in some forms of iron and steel. in
ConnellSVllle coke, and in well-known
cotton and wooden goods. lowest prices
ever known have been made, and it is
gratifying that failures of Importance
have not resulted.
While no action especially affecting
business prospects was taken at WASH
ington. the continued discussion of
revenue and monetary measures, and
the uncertainty regarding them, have a
constant unfavorable influence, and
Indifferent markets have caused sudden
fluctuations in prices.
Wheat at 605Sc is not only lower by
44c than it was for a single day last
year, but lower by 1870 than it had
ever been i'll the previous seventy-seven
years. A visible supply of over 10000
600 bu Feb. 10, with sales and receipts
from farms continuing large. has COM
pletely destroyed faith in the official
reports of the yield last year, and
caused enormous liquidation. Receipts
last week were but 1.S10.324 bushels
against 2.901.04S for the same week
last year. but Atlantic exports were
only 659,962 bushels against 1,0l3.O15
last year, and the recent decrease in
foreign demand has been
AN IMPORTANT FACTOR.
Some trust companies have arranged
to advance money against wheat as col
lateral security, but with results not as
yet encouraging. Corn and other prod
ucts fuctuated but little. though re-
ceipts of corn were large. Cotton de-
cIined an eighth with increasing dis
trust of short crop estimates. The re-
ceipts from plantations this week have
been larger than year ago, and at no
time small enough to support the idea
that tie crop of 1898 was but $500. 900
bales, which would mean that less than
$780, 600 bales have yet to come into
sight in over six months.
The slight recovery in prices of iron
products has not Deen maintained.
Bessemer pig has declined at Pttsburg
to $l0.65 and grey forge to s9.65, and
steel biIletS are sold below SIC there,
while at Philadelphia most rolling mill
cline is tine more noteworthy because
an increasefin the demand is reported
both in Eastern and Western markets,
especially in structural at the West and
here. where several large buildings are
projected. The demand for wire rods,
nails and fence continues remarkably
large and SuStainS prices, but rails are
stagnant. Connellsville coke sells at IS
cents, the lowest price ever made, and
while the output Increased for the week
1858 tons, only 81 per cent of the ovens
are in use. Heavy reduction in the
price of lake ore is reported, with large
contracts at S2.75 Cleveland delivery.
Minor metals are weaker with restricted
consumption. Shipments Of boots and
shoes from the East are l9 per cent less
than year ago, with cheaper grades
predominating in orders and in manu-
features. and not many factories fully
employed.
TEXTILE INDUSTRIES
do not seem to have gained within the
past week, for as many works have
closed as have resumed work, and In
WOODEN and cotton manufacture rather
more. There has been sharp break in
print cloths to 2$ cents. Some of the
best known cottonS have been put at
the lowest prices ever made, and there
Is more talk or general Closing or mills.
The demand for WOODEN goods does not
improve, and sales of wool depressed
sharply after the brisk activity two
weeks ago, being only 4, IA, 591 pounds
for the week, against $3.50, 800 last year.
Though some grades are scarce and
prices relatively higher West than here,
the markets do not advance.
Exports Of merchandise were about
5000 smaller for the week than last
year. and for six weeks the increase has
been only So, 100000, or ~ per cent, but
imports last week were little more than
half as large as last year, and for the
year thus far the decrease is about AZ
per cent.
Failures for the week have been 1923
in the United States, against 1877 last
year, and 80 in Canada, against SO last
year. Though several were of some
magnitude, the aggregate of liabilities
was apparently below tue weekly aver
aye for January.
For the week ending Feb. the liabil-
tiles thus far reported were only S4.O79,-
657. With nearly complete returns for
January. the aggregate of liabilities in
1850 failures is $50, 946, 497, of which
81 l,631,3 800 was of manufacturing and
Sl8, 1913, 476 of trading concerns.