St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-18
TRADE IS HALTING
BUSINESS MEN ARE PERPLEXED
BY THE UNUSUAL SITUA-
TI0N.
DEMAND SLOW IN ARRIVING.
HIANUFACTORIES HAVE NOT SHUT
DOWN, BUT HAVE NOT PRO-
GRESSED, EITHER.
Failures Are Less in Number Than
Might BE Looked For Under
the Circumstances.

NEW YORK, Jan. 17.-R. G. Dun &
Co.'S weekly review of trade tomor-
row will say:
1.-The situation could hardly be more per-
picking for business men. Practical mer-
chants, manufacturers or bankers can have
little sympathy for those who minimize their
difficulties. None doubt that the government
will raise money to meet obligations, but
how far the money market will be disturbed
or the treasury reserve first diminished none
can say. The business world cannot know
as yet how far foreign questions may upset
calculations, though there seems every rea-
son to expect peaceful settlement. 1t can
not know what may be the duties on any i'm
portant class of imports a month hence;
whether imports are likely TO exceed eX-
ports and draw away gold; whether the deficit
OF revenue will continue, or what other tax
alton Will be levied. Failure OF the senate
thus far to take any action on financial meas
ures proposed by the president or those
passed by the house affects unfavorably all
branches of business. Under such adverse
circumstances it is actually encouraging that
shrinkage in transactions and resulting COM
mercal disasters have not been greater. But
four large failures within day or two lnol-
cate that the same condition cannot continue
without much embarrassment
Speculation in products was not very
active and wheat was practically unchanged,
though Atlantic exports for two weeks flour
included, have been $3.50 bushels, against
4,2l3,125 last year. Western receipts still
make short crop predictions ridiculous,
amounting for two weeks of January to
5.421,976 bushels, against 1853 122 last year.
Corn receipts were also liberal and exports
about five times last years. Cotton receipts
still indicate yield neither as small as Mr..
Neills reiterated estimate of $500, 600 bales,
nor as large as the 100000 bales estimated
by others; but it is yet to be seen whether
supplies held for better prices are of conse-
quence. The price declined an eighth, with
accounts of narrowed demand by spinners
abroad and declining prices for goods in this
country.
DOUBT AND SMALL DEMAND.
mo branch of manufacture has progressed,
for all are unavoidably waiting, both for set
tlement of financial doubts and for demand
which does not yet appear. Cotton goods
are not quotably lower, but concessions to
secure business reported in many in
stances and many Of the mills have been
running largely in anticipation of orders not
yet received. There is a little better in
quiry for staples with indications that deal
ers' stocks are running low. The opening
of fine and fancy woolens has brought no
change in prices and revisions caused by
recent openings of worsteds have been gen
orally toward lower prices. There has been
somewhat more demand, but not enough to
keep most of the mills running full. Sales
of wool in two weeks have been 4994,300
pounds domestic and 6,S23, 300 foreign, against
6269,615 domestic and 4410,200 foreign last
year.
THE pig iron output weekly. Jan. /, was
207 4Sl tons. decrease of 9,3l6, OF 4.3 per
cent, in December, and unsold stocks in
creased 91,125 tons, or over 10000 weekly
while the great steel companies whose stocks
are not reported produced in December 342,
936 tons. The production is so far beyond
the present demand for finished products
that temporary stoppage of many furnaces is
expected. Yet pig iron is higher, Bessemer
about so cents and grey forge and anthracite
25 cents. although finished products are gen.
orally weaker, with less demand. Control
1ers Of the coke and output are said to
have agreed to maintain prices above those
of 1895, which means dearer pig iron, but If
orders for finished products do not material
ly increase, the advance in materials can
hardly be maintained. Minor metals are
weaker. with copper at 9.T5 cents, about 5000
tons of lead at 3 cents, and tin at u cents
Failures for the past week have been much
larger in magnitude, numbering 1895 in the
United States, against 1878 last year, and 81
in Canada, against so last year"