St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-02-23
NOW A BETTER ERA.
1T IS HOPED FOR BY THE BUSI-
NESS MEN.
SUCCESS OF NEW BONDS
Is Taken as an Indication of the
Beginning of Real Re-
cOvery.

NEW YORK, Feb. pr. G. Dun q
Co.'S weekly review of trade, which is
sues tomorrow, will say:
The surprising success of the new
loan, and the great confidence 1t has
given to investors on both sides OF the
water and to business men here, en-
courages many to hope that it may be
the beginning of a real recovery. In
twenty-five minutes here subscriptions
are supposed to have been at least five
times the amount Of bonds offered, and
in two hours at London were twenty
times the amount there offered. Con-
sidering the power which control of
these bonds gives to regulate foreign
exchanges, and to prevent exports of
gold, the transaction has indeed greatly
changed the financial situation, in spite
of the fact that gov eminent revenues
are still deficient, and that domestic
trade shows scarcely any gain as yet.
The industries are not enlarging pro-
duction, nor have prices of farm prod
ucts improved. But a very important
source of apprehension and hindrance
has, for the time at least, been re-
moved.
Wheat fell to SEC Saturday last, and
has recovered to SIC, only a quarter be-
low the price a week ago, while corn,
cotton and pork are unchanged and
hogs and lard are shade lower. West
ern receipts of wheat are nearly as
large as last year, though for three
weeks about 40 per cent smaller owing
to the storms The exports are a lit
tie larger than a year ago and yet are
not large. Cotton has refused to adj
vance, though there has been much
talk about curtailment of acreage this
year and receipts have sharply de-
creased. The decrease was apparently
owing to the unprecedented weather at
the South and the market is more In
fiuenced by the certain oversupply for
the next six months than by the
possible shrinkage in yield next fall.
AS the market for goods is dull here
and abroad, the fact that visible
stocks of American are about 100000
bales larger than in 1892 at date justi-
fies expectation that the surplus car
ried over will be large.
Dealings in iron and it's products are
moderate in volume, with some dis
couragement in most branches, though
structural works at Pitttsburg are very
busy. and demand for wire nails and
barbed wire has never been surpassed.
But nothing is doing in rails, plates
are quiet and bar is as low as ever,
though in rather better demand for
car works. Sales of pig have been
large, with one transaction
at Pittsburg of 10000 tons of Bessemer
at $40, but prices do not improve. Tin
is weaker at 1880 for February; the
Calumet & Hecla has reduced its price
for copper to $3.50, the January output
being 1861 tons and the foreign 7,144,
and lead has declined to sic, while tin
plates are lower, with large arrivals.
Textile products show few changes
but those downward. Cottons are
meeting an Indifferent demand, and
New York mills "A bleached have been
reduced to 91a cents, and Lonsdales "A
bleached to 81 cents, and in cheaper
goods and brown sheetings prices are
irregular. A better demand appears
for the finer prints, but fancy calicos
are quiet, and there is only the aver
age recorder business for dress goods.
In lightweight woolens the recorders
continue later than usual, and the pre-
liminary purchases of medium and
low, heavy goods are larger that a
year ago, some mills having business
until April, while in the higher grades
there is more promising demand. The
termination of a strike at Philadel-
phia sets more carpet mills to work,
and the demand is fair, while in dress
goods little is doing. Sales of wool at
the chief markets in three weeks of
February were 15,722,0 $50 pounds,
against 1S,010,S0O two years ago.
The failures for this week have been
302 in the United States, against 2SS
last year, and in Canada sc, against 81
last year.