St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-07-28
DUN's REVIEW.
Large Purchases Of Wool for I'm
H, mediate CsS.

Ah ~ WV O6Ss
New YORK. July pr G. Dun &
Co.'s weekly review Of trade tomorrow
will say: The heavy outgo OF gold, the
fall of the treasury reserve and of the
price of wheat TO the lowest point on
record and the increasing uncertainty
about the tariff have entirely over
Swallowed other Industries. Business
delayed for months by the two great
strikes now crowds the railroads and
swells returns and gives the impression
of revival in business. But it is not yet
clear how far there is anincreaSe i'll new
traffic, distinguished from that which
had been merely blockaded or deferred.
In some branches there has been more
activity, but in others less, because
events early this week led many to infer
that no change of tariff would be made.
The internal revenue receipts on whisky
suddenly dropped more than half and
sales OF wool greatly Increased.
But the uncertainty is not removed,
and much OF the business done seems 10
he in the nature Of insurance against
possibilities. Wheat has found IN the
lowest Cepths a deeper level still and
has sold below IS cents. making the
monthly average at New York the low
est ever known. Western receipts have
been 3.455,S74 bu, against 3.129, 295 bu
last year, in part because of delayed
shipments, but the mOvent from the
farms has been heavy, while Atlantic
exports have been only l,51l, 604 blu,
against 2,057, $50 bu last year. Corn was
stronger, with accounts of injury to part
OF the crop, and the exports are trifiing.
Cotton defined One-siXteenth to cents.
though receipts from plantations were
small. Official reports count for
nothing in comparison with enormous
visible stocks. Textile industries have
been perceptibly stimulated, according
10 dealers, by dIsagreements which
many suppose may prevent changes of
the tariff, and there has been more
buying OF cotton goods, with slightly
higher prices for few, Notwithstanding
the Closing of some important mills.
Ihe STOCK OF such goods is, on the
whole. quite large. lii w0olens, the
goods famins which clothiers prepared
for themselves by deferring orders is
such that imperative necessities now
keep most of the mills at work, and
purchases of wool for Immediate
use are large. But there is
no change for the better as
respects orders running into the future,
and, indeed, some concerns have with
drawn spring samples. on which very
low prices had been fixed, and will
make no effort for trade at present.
Sales of wool have been greatly swelled
ny speculation, in the belief that wool
is not likely 10 decline in any event. but
may advance sharply if tariff changes
fail. Sales for the week were 1904, 100.
against 2. 164. 500 last year aud 9,11S. $40
in 1892. In four weeks of July sales
have been 22.259.2S5 pounds against
10.696,900 in 1893 and 29,250. $50 in
1892. While scarcity of coke delays re-
sumption of work In many Central and
Western iron mills. the light inquiry for
finished products at Chicago,
and the disappointing demand for most
of the Pittsburg, raises doubt whether
material increase can be expected until
the tariff question is out of the way.
The demand for sheets is better at Chi
cago, aud there are numerous small
orders for structural work at Pittsburg,
with rather better demand for bars, but
nothing like the expected rush. For the
week failures have been 249 in the
United States, against 3S6 last year, and
SO i'll Canada against % last year.