St. Paul daily globe., 1896-02-08
WONDERFUL SUCCESS OF THE
BOND ISSUE WILL STIMULATE
GENERAL BUSINESS,
SAYS DUN'S WEEKLY REVIEW.
uNLOCKs MILLIONS OF HOARDED
GOLD AND PUTS A STOP TO
SILVER AGITATION.
pRADsrREET IS CONSERVATIVE,
But Notes an improvement With
Staple Line Jobbers in the West
and Northwest.

NEW YORK. Feb. 7.-R. G. Dun &
Co.'S weekly review of trade will say:
The wonderful success of the popular
loan alters the face of events. The
Influence of this event upon all manu-
featuring and all trade cannot be light
ly estimated 1t strips the silver agita-
tion of all its power to hurt. 1t puts
the treasury on a safe basis for the
time whether congress does anything
useful or not. 1t notifies foreign ma
tions that the United States have pow
er as we'll as purpose. 1t unlocks mill
lions of gold which have been gathered
In preparation, brings directly several
million of gold from Europe and stim-
tIlates the anxiety of foreign invest
ors to obtain American securities. With
such revolution in business suddenly
effected, the customary records of the
past week and month are Of less value
than usual. But there have been signs
of improvement in the iron manufact-
ure, although the average of prices is
nearly l per cent lower this week for
orders have been booked for nearly
100000 tons of rails this year, against
total deliveries in 1895 of 100000 tons,
and orders for wire nails are stimu-
lated by a decision to advance the
price again March /. There is also
a more active demand for plates and
sheets. Southern competition lowers
coke and iron at Chicago, and prevents
advance at the East, while sales of
last years spectators in the Pitts
burg region still depress Bessemer. The
ore pool is expected to fix the price for
IN Il
the coke pool still reduces the output.
Speculation has raised copper to 10Nc,
with sales Of 6GU0.OO0 pounds, and tin
to 131ac, and lead to BLOC, with
large exports of Mexican. Sales of
wool have been 4,5662OO pounds, against
5,192, $50 last year, and 6,656,71 in 1893,
and with reported reduction in clay
worsteds and mixtures, the orders for
other woolen goods are still unusually
delayed.
Failures for the week have been 323
in the United States, against 2S1 last
year, and 63 in Canada, against So
last year.
BRADSTREET IS CONSERVATIVE.
Bradstreets tomorrow will say:
General trade waited the result of sub
sentimental effects of the unexpectedly
favorable outcome have been for
easier money and improvement. Ad-
ditional favorable influences are found
in heavier bank clearings, continued
brmness of prices, sustained demand
for iron and steel, and the announce
ment from ST. Paul, Milwaukee, Omaha
and Des Moines of a revival in busi-
ness with jobbers' in staple lines. AT
the East, Baltimore and Pittsburg re-
port favorable trade conditions.
AT the South, grains in wholesale
lines are announced from Nashville
Memphis. Atlanta and Birmingham
The reverse includes the fact that the
relief to the treasury by the heavy
over subscription to the bond issue in
the absence of sound currency legisla-
tion by congress will probably prove
only a temporary device to maintain
the gold reserve
Exports of wheat (iour included as
WheaD fro;n both coasts of the United
States, this week amout to 2907, ,00t
bushels, against 2,550,000 bushels las
week; 100000 bushels in the week E
year ago; 267S,000 in the week two
years ago, ard 1881 900 bushels in the
first week of February, 1888 Ex
ports of Indian corn this week amour
to 1922, 900 bGchels, a trifie more thar
last week, three times the quantity il
the like week last year; more thai
twice the quantity exported in the cor
responding Wee of 1894, and more thar
six times the amount shipped out o
the country in the first week o
February 1898