St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-02-02
THINGS LOOK DETER.
Dun g. Co.'s Sententious Re-
view of the Trade Sit
uation.
fHE HOPE OF A NEW LOAN
The One Thing That Has Lifted
Prices During the Past
Week.
THE HOPE OF A NEW LOAN
ONDERToNE OF STRENGTH.
Gradstreet's Note That De-
spite Uncertainty There Is
No Panieky Feeling.

WASHINGTON, Feb. 1.-R. G. Dun "
G, Weekly Review of Trade, which
issues tomorrow, will say: "lhiilsS
look better near the close this week be-
corse if is believed that a new loan VIII
be negotiated. There was need oI re-
lief. since January closed with Inc
heaviest exports of gold evar made IN
any month and the heaviest Withdrawals
of gold from the treasury, SD, 46o' lVo,
the hope of the new loan being TIE one
thing which has lifted prices during Tie
past few days. January leaves behind
it the lowest average of prices for all
commodities ever known: for cotton.
iron and its products, wool ana silver
the lowest monthly average ever KNOWN
and for wheat a range above the mini
mum, but yet declining rapidly toward
that noiut. Industrial operations have
not materially diminished, though IL
has been a disappointing month be
cause the revival expected has not
come
The continuing drift of money to
New York shows scanty commercial de-
mand in the interior, and no Improve
ment appears here in commercial loans.
in short. business is still waiting and
finds reason for hesitation i'll the condi-
ton of the treasury. Speculation mas
not favored producers. Wheat is &c
lower, but Western receipts were emily
l.226,O21 bu against 1,519,2l7 last year,
md, with experts larger than last year.
might have helped prices had not the
visible stocks been so large. Corn
Is &c lower with receipts about
half and exports not an eighth OF
last wears. Cotton declined Lice, and
is close TO the lowest point ever touched,
with an average of only 5.70c for Janu-
ary. against 574 i'll December and S.07
in January OF last year. The move
ment continues large, land the maximum
crop estimates are encouraging, puG
there is not il little hope that decrease
of acreage this year by concerted action
may help the planters. Nelther mere
nor abroad does The manufacture prom
Use nearly the maximum output OF con-
sumption. Silver has been weak, and
for the month has made slightly the low
est average ever known, the output IN
1894 being reckoned by Wells. Fargo q
Co. at $2S, 12l .014, or 45,5S9,9ll ounces.
The decrease was IL per cent, While the
increase in gold was 50 per cent.
Iron and steel look less encouraging
at the East, and the demand is dIsap'
pointing. although prices are not weak
er. At Pit,sburg and the West larger
demand appears, particularly for wire
and wire nails, which do not change III
price as vet, while BesSemer iron is %
cents higher, billets little stronger
and gray forge Is cents lower. The
structural demand is good, but prices
are a shade lower. and while the market
for bars has been usually good prices Go
rot lift. Considerable contracts for cast
pipe have Eeen taken or are pending,
Tut in the aggregate the new business
since Jan. l has not answered eXpecta-
lions.
Textile manufacturers cannot score
Improvement tor the week, Tor though
print cloths have advanced shade, the
demand for other cotton goods is only
moderate and prices are unusually lrreg-
ular. The opening Of mems WOolenS
has continued with even more general
declaration of belief by domestic manu-
facturerS that they can sustain them
selves in medium gradeS and in WOrSted
but in the finer grades much hesitation
appears, and in the lower grades the
extremely low prices made by foreign
dealers seem to threaten the manufac-
turer. Wool is 50 low that large sales
Tor possible futures continue, and the
total at the chief markets fer four weeks
has been %, l57,C65 pounds, against
-, 727, $50 two years ago. Failures for
the past week have been 3J4 i'll the
United States, against $40 last year, and
Ifty-fOur in Canada, against ffty.tWo
last year,