St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-03-02
NO GOLD GOES OUT
Though Withdrawals From
the Treasury Have Not
Entirely Ceased.
DUN'S FINANCIAL REVIEW
Shows That Industries Make
Slow Gains--Fair Ae-
tivity.
SIGNS OF IMPROVEMENT
For the March Trade, Says
Bradstreet'S --February
Disappointing.
SIGNS OF IMPROVEMENT

NEW YORK, March 1.-R. G. Dun
& Cos weekly review Of trade which
issues tomorrow will say: No gold
goes out, though sterling exchange
has risen close to the exporting
point and it does not yet appear that
the syndicate has made any effort
to control the exchange market.
London has sold about 10000 shares
of stock during the week and the
market is distinctly lower for rail-
road shares, though a grade stronger
for trusts. The stock market waits
abjectly for London, and foreigners
show thus far more disposition to
sell than to buy.
Withdrawals of gold by redemp-
ton of legal tenders has not yet
ceased, but since the closing of the
, syndicate contract have averaged
about $4,000 per day.
Wheat is 11sc higher, but clearly
not because Western receipts are q.
trifie less than a year ago, nor be-
; cause exports from the Atlantic
coast are small. Spasms of specu-
lative activity must be expected dur
ing every season, and when prices
| are at the bottom such Spasms can
only mean an advance. Nothing is
seen to justify any material rise, as
supplies in sight do not decrease
more than they would naturally on
account Of bad weather Corn is
only shade higher, with Western
receipts much smaller than last
year. Cotton dropped a week ago to
3.56 cents, the lowest point ever
known since modern classifications
were adopted, and has not yet risen,
though the talk of a great reduction
in acreage this year is as vigorous
as ever. The whole market turns
on the fact that stocks of American
cotton here and abroad are consid.
erably larger than ever.
The industries make very slow gains
where they make any. Little is said
OF the stoppage of the Edgar Thomp-
son steel works, though many thou
sand hands depend on its operations.
because the Carnegie company has
purchased $4,000 tons bessemer pig at
$685. to $40 at Pittsburg, a price indi.
eating that the biggest concern in
Western Pennsylvania does not want
to make iron for less. At other mar
kets pig iron has been quiet. and else
where, as at Pittsburg, structural or,
ders account for a large share of the
new business reported, though actiy-
1ty in wire, wire rods and barbed wire
still continues. Bar iron and steel are
hrmer at Pittsburg, but without
cnGnQa
the reduced consumption in January
does not seem to have more than
matched the reduced production. In
the minor materials there is more
business in lake copper at 9.65 cents
with some offerings at 9.5 cents, and
forced sales have depressed lead to
o. cents. Tin is also weaker at 49,
cents with heavy importations.
Inc market for cotton goods is fair
~ active and the demand improves in
some grades, but is on the whole de-
cldedly disappointing, though this
week there has been no sensational
reductlon in prices. Undoubtedly the
accumulation of goods continues. and
Is most dangerous for the trade. The
sales OF wool at the three chief mar
kets during the past month have been
~, 800 pounds, against 1S,444.131 last
year and 23,1S9, 900 for the same weeks
two years ago, and, while the mills
making iow-grade goods are fairly
supplied with orders, it is a most nm
wholesome feature that numerous
cancellations are reported, Indicating
that the goods supplied at execution.
ally low prices do not meet the exnec-
tatlon or buyers. On the other hand
the demand for the goods of a better
grade seems little better than ex-
pected.
Failures for the past week have been
zoo IN the United States, against 261
last year, and in Canada 3S, against
AZ last year.