The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-30
TINE OF PROGRESS
JANUARY A MONTH OF DIsAPPOINT.
MENTS, BUT OF REAL GAIN TO
TRADE.
FALLING OFF IN FAILURES.
THE DECREASE THE MOST FAVOR
ABLE FEATURE OF THE COM
MERCIAL SITUATION.
CHECKED BY ARCTIC WEATHER,
General business, Excepting in the
Special Lines, a Sufferer From
the Weeks Cold Wave.
FALLING OFF IN FAILURES.
CHECKED BY ARCTIC WEATHER,

NEW YORK, Jan. 29.-Dun & Co.'S
weekly review Of trade tomorrow will
say: January has been a month of
disappointment but Of real gain. Near
ly everybody had promised himself a,
land of milk and honey after New
Years, and the slow progress looks
like standing still to men in such
state of mind. Moreover there are
multitudes throughout the country
who have been taking large ventures
III advance of or apart from their reg
ular business, because they expected a
rise in prices. But prices fail as vet
to bring them profit. Wheat has de-
cllned severely, cotton has scarcely
risen enough to pay brokerage, wool
hclds steady in spite of enormous buy
ing, wooden goods hardly change in
price, iron and it's products decline,
leather is sluggish, hides are lower, for
some shoe manufacturers accept
shade, lower prices; the average Of
railroad stocks is slightly lower than
1t was December 81, and the advance in
trust stocks has been small. To trad
ers in such properties the month has
been disappointing. Yet during the
past week the record shows that ten
iron works have started and only two
have stopped; thirteen wooden works
have started and nine more are about
ready to start, while three have stop
ped Similar things are seen in other
industries and the additional establish
ments are not starting without some
increase in orders received.
The decline in wheat, over cents
in spite of an official report of yield
Tar below estimates generally accepted.
reflects perception Of the error Of the
report and also Of the influence of
enormous exports of corn instead OF
Wheat-80, 900 bushels in seven
months When two bushels Of corn
can be had for less than one bushel Of
wheat, it is largely preferred in Euro
pean markets. and in January 1855. 127
bushels Of corn have gone abroad from
Atlantic ports against 5,31G,349 bushels
last year, while Atlantic exports Of
wheat and flour have been $685. 54
bushels, against S,4O3, 76j bushels last
year. AS the great crop of corn pre-
vents much advance in its price. it's
cutgo affects the demand fer wheat
and heavy liquidation of speculation
has occurred, with the price of corn
scarcely changing.
The largest article of export at this
season goes out freely, but cotton looks
less attractive to traders, because
American mills are laboring over plans
to reduce great surplus of goods, and
prices have declined. Sales of wool III
January have never been surpassed in
that month nor in any other month
except last November and July of 1895
anc- 1892. In the earlier years, sudden
demand for consumption was the
cause. But the increase in orders for
wooden goods was small in November
and has been small in January COM
pared with the purchases on anticipat-
ed possible duties. The price has re-
maiEed about steady.
Failures for the week have been S31
in the United States, against 4O4 last
year, and 81 in Canada, aginst 70 last
year.