St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-08-17
AUGUSTSHRIuKAGE
MIDSUMMER SLACK IN BUSINESS
THAT WILL SOON BE
OVER.
INDUSTRIES HOLDING UP.
OUTPUT OF PIG IRON CLOSE TO
THE LARGEST ON REC
ORD.
WAGES HIGHER, STRIKES RARE
Crop Expectations Modified as to
the Wheat and Cotton Prod
uct.

NEW YORK, Aug. 16.-R. G. Dun
trade tomorrow: 1T is a belated
season; a frozen May set everything
back The heavy business which
ought to have been done in May and
June was pushed into July, SO that
the midsummer decline due in July
comes in August. With this in mind,
one is not surprised to. find the
shrinkage from July to August rath-
er more conspicuous than usual. The
disappointing crop reports of last
Saturday, though evidently dis
trusted, lessen confidence in regard
to the future of trade, even while
some spectators gain by them.
Back of all doubts is the fact that
the industries are doing better than
anybody could have expected. The
output of pig iron Aug. l was $780,
525 tons weekly, or 176, sos by another
report; in either case close to the
largest output in 1898, though sur
passed by $4,000 tons in the spring
of 1892 Unsold stocks are SS,07S
tons smaller, the great steel compa-
MES having made heavy purchases
in advance of needs, but the actual
consumption is large and prices rise
in the face of the increasing output.
Bessemer iron is $1415 at Pittsburg,
and plates have advanced 81 per ton.
The sales of steel rails in 1895 to
Aug. 1 were $4,000 tons, and the de-
liverieS $50, 900. Wages in this indus
try have been generally advanced,
and strikes are few. Minor metals
change little, though large sales lift
lake copper to 12A cents.
SPECULATION IN WOOL.
Textile imports have been very
heavy, and advances in cotton goods
to some extent check buying, while
Fall River spinners are organizing
for a reservation Of wages paid be-
fore the panic Wooden manufacture
ers find in their way large sales of
foreign goods at prices which cause
official Investigations. The sales of
wool were 6,313 800 domestic and
5,279, 900 foreign, this month, against
1850, $50 domestic and 1,602,50 for
tic and 4,566,500 foreign in 1892, indi-
eating that domestic wool is largely
held for speculation at prices about
a cent higher than manufacturers
feel able to pay. Crop reports mod
flied expectations as to cotton and
wheat, and cotton spectators have
bought, lifting the price five-six-
Txr1aa eu-
idence of loss in yield, has declined
rs cents. A third of a
years's consumption of Amer
lean cotton is yet on hand,
but not a third of the years
consumption of wheat. Receipts for
the week We're better, but not half
last years, and in three weeks $685.
SCI bushels against 17,211 ,633 last
year. Atlantic exports for the week
have been SS9,S01 bushels against
2,749,535 last year, -four included, and
for three weeks 2,552,SS0 bushels,
against S,242, 6S3 last year. The Off
cial reports for July show exports
of $751; 28 bushels, flour included,
against 10,S00147 last year, but the
Pacific exports increased five fold at
an average of 81 cents per bushel,
while Atlantic exports, at about 72
cents per bushel, We're but 6,022, 1853
bushels, flour included, against TO-
265, $50 last year. Corn declined "a
cents with favorable news, and pork
fell 25 cents per barrel, and lard Is
per 100 pounds. Failures for the
week have been 1876 in the United
States, against 229 last year, and 3S
in Canada, against As last year."