St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-04-20
UP-TURN OF PRICES.
Only One Of the Many Salts
factory Conditions in Bust
ness Outlook.
VOLUME OF TRADE GROWS
And Money Is Being Rapidly
Absorbed in the Produce
tive Industries.
VOLUME OF TRADE GROWS
SPECULATION Is ACTIVE
As Is Evidenced by Boom in
Beef, Cotton, Wheat and
Oil Trade.

NEW YORK, April 19.-R. G. Dun
& Co.'S weekly report of trade which
issues tomorrow will say:
In every speculative department
business is growing, but this is
really the least satisfactory feature
Of the situation. Cotton, oil and
wheat climb above the export price,
so that the marketing of products
abroad must be checked, and money
is absorbed which ought to be en-
ployed in productive industry and
in distribution Of products to con-
Sumers. Everybody knows that oil
has not risen geo per cent because
it is intrinsically more valuable, nor
is wheat actually worth more than
it was two or three weeks ago, but
the expansive and uplifting force
has fortunately taken to specula-
ton rather than to production, and
so we have higher prices in all
SPECULATIVE MARKETS
without a large demand for con-
sumption. Stories of combine ions
Between the Standard Oil company
and Russia, as to partition of the
oil consuming territory, by no means
account for recent prices of petrol
cum, which appear to be entirely
fictitious.
There is no evidence that cotton
is in larger demand than it was
when the price was a cent lower,
but prices have been so low for
months that an upward movement
was easy without much reason,
though stocks here and abroad are
800, 600 bales larger than they were
at the same date after the greatest
crop ever produced heretofore, and
spinners here and abroad have
taken about 1,60O,0 900 bales more
than they have consumed.
The rise tends to prevent the de-
crease of acreage, which is its one
reasonable excuse. Wheat has adj
vanced over Sc during the past week
and the Western receipts are small,
only 1,002,S46 bu, against 1,766,S29
last year, but Atlantic port exports
for three weeks of April have been
only 1866, 5S1 blu, f1our included,
against 5,63O,366 last year, and there
is no Indication that the foreign de-
mand will increase, while the pros
poets for this years crop are con-
sidered excellent. Western receipts
are not large, and it would be
strange if they were with prices
so low but advancing. Exports con-
tinue to indicate that the
EUROPEAN DEMAND
will not be particularly heavy this
season.
Outside of speculative markets,
the most important feature is the
rise in the price of beef, but which
is largely due to the control of the
sources Of supply by few strong
corporations. There ought to be,
but apparently is not, sufficient
power in the hands of the govern
ment to meet any such conspiracy
against the public, and the pro-
posal of Secretary Morton to admit
Mexican cattle and cattle from Can
OF consumers is heartily commended,
though it is not likely to have much
influence. The actual decrease in
receipts of cattle at the four chief
Western markets has been 200, 600
head during the first quarter of 1895,
and the quantity killed has been
only $4,000 head less than last year,
about 10 per cent, but facts have
little to do with prices in this case,
as in the case of oil.
IN IRON AND STEEL
the situation is rather disappoint-
ing, although the output continues
large, as the demand for finished
products does not seem to increase.
Structural forms are in large de-
mand, but sales of wire are about 30
per cent less than last year, and in
other branches there is no percepti-
bic gain. 1t is still an open cues
ton whether the consumption will
support the manufacture at the
present rate, which is at least an
eighth below the present maximum.
Inc cotton mills are encouraged
by improving prices, and are fairly
busy. Sales of wool at the three
chief Eastern markets have been
lS,334,3OO pounds for three weeks of
April, against 1862, 500 last year,
which indicate that the production
OF goods is at present larger than
1t has been at any other time for
nearly two years, and while foreign
competition is seriously felt in some
branches, the manufacturers are
making vigorous effort to retain
the home market, even in lines
which they at one time expected to
abandon.
Failures during the past week
have been 24l in the United States.
against 219 last year; "a in Canada
against 40 last year.