St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-03-30
WAS NO SPECULATIVE CRAZE
But Conditions Which Give
Hope Of Prosperity, Says
R. G. Dun & Co.
BRADsTREETs lC0NFIRM 1T.
Firmness Of Prices Cited as
an Evidence Of the Better
Situation.

NEW YORK, March pr. G. Duns
Weekly Review of Trade will say to-
morrow: Signs of improvement are all
the more satisfactory because neither
accompanied or apparently produced
by a speculative craze. Dealings in
stocks, cotton and wheat are not di-
verting all the interest and capital
from productive industry and legiti-
mate trade, though these products are
all a shade stronger. But railroad
earnings, bank clearings and indus
trial indications are more encouraging
this week. 1t is a remarkable feature
that the lifting this year begins at the
bottom, so to speak; raw materials
are raised before there is any larger
demand for their finished products,
thing not often done with success.
Hides rose, then leather, and then
shoes. Cotton rose, and afterwards
some common goods; coke was adj
vanced and afterwards Ressemer pig.
In all these cases it is reasoned that
the larger demand for consumption,
though yet wanting, must come when
it is seen that prices are going up.
Higher wages for coke workers have
been followed by a formal advance of
40 cents in the price of coke, and now
Bessemer pig has risen 35 cents at
Pittsburg and % cents at Philadelphia.
So far there is no answering increase
in demand or in prices for manufact-
ured products, and on the whole, the
range is slightly lower than week
ago, and common bar having yielded
a little. The general belief is that
dear materials will kindle
MORE BUYING OF PRODUCTS.
1t is a sign of strength that an East
ern mill has secured in competition
with British makers who had an adj
vantage of $3.50 in freights, the con-
tract for $4,000 tons of rails for a Cali
fornia road, and other contracts for
about the same quantity have been
placed.
Raw cotton has been hoisted until
stronger market for goods resulted
with some advances in prices. The
tone of the dry goods market has been
decidedly improved, though it does not
yet appear that rail distribution has
correspondingly increased. But stocks
of retail dealers are light, and when
they feel that prices are bound to rise,
the demand may grow rapidly.
In the wooden business cancellations
in some lines have been startling in
magnitude, many mills which supposed
their whole product sold finding them
selves in great need of customers.
This seems to be mainly in low grade
goods inferior quality being the COM
mon complaint, but delays through
strikes also play a part, while offers
of cheap foreign goods are not to be
overlooked. Quite large orders have
been taken by foreign agents for finer
worsted and woolens, and all the way
from the poorest shoddy to the best
goods the competition will doubtless
be sharp for more than one reason.
Sales of wool for the week have been
quite large, 5,S29 500 pounds, against
4,O7S,200 last year, partly because a
quantity held for loan was forced to
sale. But sales in four weeks have
been 19,546,200 pounds, against 1888, 600
last year, and q 133, 400 in 1892.
COTTON SPECULATION
reached halt with the enormous re-
alizing of last week, and sales have
been a third smaller, with no advance
The season is really late, and there
are solid reasons for reducing acreage,
factors and traders being able to exert
a powerful influence if they choose.
But the supply of cotton now in sight,
or in spinners' hands is over 100000
bales more than the worlds require
ments for this year, with receipts for
five months yet to come. Guesses
about the condition of wheat have
varied widely this week, and prices
are not much higher, the net advance
being 1Ac. Atlantic exports, flour in
cluded, have been 1881 ,O91 blu, against
1,446,613 blu last year, and for the
month 6,511, 70S blu, against S,9O9, 1874 blu
last year, and meanwhile Western re-
ceipts for the month have been 7,474, 36i
blu, against 7,0S4,513 bu last year. Corn
is cent lower, while pork is 75c per
Dbl, and lard and hogs 15c per 100 lbs
higher.
The failures this week have been 2s4
in the United States, against 23S last
year, and AZ in Canada, against 80 last
year. But the recent increase indi-
Gates past rather than recent condi-
lions of unsoundness. .s