St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-01-26
And Reduction Of Reserve
Causing Distrust in Wall
Street.
TRADE IS CONSERVATIVE,
Demand Being for Actual
Needs--Dun & Co.'s and
Bradstreet's Reviews.

New York, Jan. Or. e. Dun q
Co.'s weekly review of trade tomorrow
will say: Events have not helped
business this week. About $780,"
OOO gold has been WlthdfaWh
from the treasury, mainly Tor
export, and the gold reserve has
bpeu reduced to about SIS, GOO, goo. Since
Dec. the treasury has lost i'll thirty
nine working days about s53.0UO,ooo
gold, and daily increasing dl6truSt Is
liable TO affect markets untavoraDIy.
Industries have not yet found sumcleht
demand for their products 10 prevent
further declines in prices, ami TINS week
the average for all commodities mas
ngain touched the lowest price ever
known. The number of hands employed
does not Increase, and strike mas cut
off for more than 4 week about halt the
business of Brooklyn, to some extent
affecting trade here.
At bottom business heSitates because
the future is clouded and the consuming
demand has not increased i'll January
rs was expected. In belief that it would
Industries had enlarged production, and
until il does, the excess OF producing
capacity constantly tends to depreSs
prices in both iron and steel A better
demand appears for bars III Plttsourg,
but at Chicago they are unexpectedly
dull. No transactions in rails are re-
norted in general and the demand for
finished products is considered dlsap~
pointing. The anthracite coal traffic Is
again much disorganiZed. The minor
metals are a shade stronger, but tin
plates are lower, with considerable ousl-
ness.
Heavy sales of wool, 6,567,00O pounds,
against 1901, eco two years ago, are III
part the result of growing confidence
among manufacturers that they will be
able to meet foreign competition and III
part because prices are not thought
likely TO go lower, SO that some have
purchased beyond their orders for
goods. TIE market is broader, about
half the sales being of territory wool
for mixture with Australian. Carpet
mills are conservative, some having
sustained heavy losses last year. Re-
ceiptS of foreign wool are large and
holders pushing to sell. Openings OF
additional lines Of mems WoolenS indl-
cate general reduction OF 10 III per
cent on last year, but quotations are UNI
stable, further changes being looked for
both in domestic AMI foreign goods.
Duplicate orders for light weights are
not equal 10 expectations, though Tor
many lines they come too late and are
refused.
Wheat has sold at the lowest point
ever known for the May option, and
spot has declined &c for the week, liqul-
dation OF the immense holdings OF the
Fair estate belhg rumOred. For most
people the great visible supply and the
pressure of quantities carried for spec
ulation in elevators Justify extreme low
prices, as there is nothing as yet to i'll
dicate material decrease in the next
crop. Receipts at present are smaller
than year ago, but since July l have
been 1l9000,000 bu, against 120,GO0,OOO
bu year ago.
Atlantic exports of only $4,000
bushels for the week do not suffice to
support the market Corn has declined
211 cents. though o ats are shrinking.
Liquidation in pork has brought sharp
decline.
Cotton barely escaped the lowest point
on record with receipts from plantations
nearly 454. 600 bales larger than at the
same date when the crop was over s.
co., geo bales; and stocks Of American
here and abroad are 300, 900 bales larger
than at the same Date last year.
Failures this year have been 1863 in
the United States, against 430 last year;
and SO in Canada against 80 last year.