St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-22
SAYS BRADsTREETys, ALTHOUGH
NO RADICAL CHANGE IN THE
SITUATION APPEARS.
MONEY SOMEWHAT TIGHTER
BECAUSE OF THE NEW LOAN, BUT
CONFIDENCE is RAPIDLY
STRENGTHENING.
GREAT DECREASE IN FAILURES
Reported From Both the United
States and Can:tla-StOcl<s Dull
With Strong Undertone.

NEW YORK, Feb. 21.-Bradstreet's
tomorrow will say: While no
radical improvement has appear
ed in the general trade situa-
ton, more favorable influences are
reported than for some weeks. The
drop in the temperature has affected
the movement Of dry goods, hats and
groceries most. Advices from Texas
are that country merchants are asking
extensions, and reports from leading
cities in the South are that the recent
relatively favorable state of trade is
marked by less active demand in al
most all lines No improvement is
shown in the demand for cotton and
wooden goods, manufacturers of each
continuing to find cause for complaint.
The record of declining quotations
began last week is continued for some
varieties of cottons, owing to the reac-
ton in the price of cotton in the ten
dency of quotations of wool to decline
and lower prices of wheat, flour, corn,
oats, pork, lard and petroleum. The
conspicuous advances are on coffee and
sugar, although leather is firm, after
the advance for hides a week ago.
Exports of wheat Mour included as
wheaD from both coasts of the United
States this week amount to 8, 149, 900
bushels, against 2,718,000 bushels last
week, 1,SO8,000 bushels in the week a
year ago; 100000 bushels in the week
two years ago, 2,596,000 bushels in the
corresponding week of 1893, and as COM
pared with 1907, 900 bushels in the like
week of 1892.
Hardly less favorable than the i'm
provement in bank clearings is the sud-
den drop in the total number of bust
ness failures throughout the country,
that for the week being 276, against 3S1
last week, 327 in the corresponding week
one year ago, 235 in the week two years
ago, and 202 in the third week OF Feb
ruary, 1888.
There are fewer failures also reported
from Canada, SO, against 70 a week ago,
SO in the corresponding week year
ago, SO two years ago, and SO in the like
week of 1893
CONFIDENCE STRENGTHENS.
R. C. Dun & Co.'S weekly review
of trade tomorrow will say: The res
toration of the treasury reserve has
been effected with remarkably little
monetary disturbance though strin-
gency in money markets, greater else
where than, here and greater in COM
mercial than in other loans, has some
what retarded business. The rapid
rise III the price OIL DOlluS strengthens
public confidence. While money mar
kets are growing easier as rapidly as
could be expected after the withdrawal
of over $70,000000 from unemployed
funds, the expected activity in COM
mercial loans does not appear, as Of
ferings are small. In no important
branch of business is there yet appar-
ent much disposition. to expand Pur-
chases to cover several months actual
consumption were made within a few
weeks on rising markets last fall; dis
tribution to consumers has been slow
and reactions in prices have not
brought renewal of such buying.
Prices of commodities as a whole are
now 'the"lowest average ever known.
In almost all, manufactured products
decline continues, though in some class
es quotations are so irregular that the
change cannot be actually measured
Bessemer, pig iron and grey forge are
a shade lower at Pittsburg, and struct-
ural beams and angles have been re-
duced to secure business, but new or
ders for products are comparatively
small, and some furnaces in that re-
gion have been banked. Though bust
ness is less than was expected at Chi
cago, it is increasing for. materials for
cars and car wheels and excellent in
plates.
Textile manufacturers fail as yet to
meet the demand expected and prices
are generally weak upon reductions
averaging 2 per cent for cotton goods,
and since Jan. l about 9 per cent
Prices are now 1912 per cent above the
lowest point in 1895, but at the highest
eoint have risen 2S per cent.