The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-23
NEW ERA DAWnIHG
ALL TRADE CONDITIONS INDICATE
LARGE PRODUCTION AND IN
CREASED CONSUMPTION.
WOOL IN ACTIVE DEMAND.
THIS, AS VIEWED nv RRAD.
STREETS, Is A MOST ENCOURAGE
ING SYMPTOM.
PRICE RANGE GENERAIL.y IovUEp
Wheat, Corn and Cotton Are at pras
ent the Key to the Financial
Situation

NEW YORK, Jan. 22-Dun e. Co q
weekly review of trade tomorrow will
say: There Is more business, though
hot at better prices. 1t is interesting
that almost all prices which change
at all, are lower than a week ago ana
yet business is unquestionably larger.
1here IS larger production, but as yet
NOT as much increase in consumption.
ana there is larger buying of materials
out at present only because better
prices are expected in the future
Few conspicuous failures during the
week have had no material influence
Inc market for securities is slightly
stronger and yet there is verv LITTLE
cong. The number of hands EMPLOYED
all industries considered, is slightly
larger than a week ago. without adj
verse change in the rate of wages. All
apprehension of foreign disturbances of
money markets has passed awav. bur
there is still great caution in making
loans. 1t is a mistake to reckon these
DIS symptoms of depression. On the
contrary, IN spite of the lower range
OF prices in important industries. the
conditions all indicate larger produc-
tlon and consumption increasing. not
as yet largely, but steadily.
wheat, corn and cotton exports are
the key of the financial situation and
curing the past week wheat had de-
cl1ned &c and corn &c, while cotton ia
unchanged. The Western receipts of
wheat are still small, 5S1, 900 bushels
less imam year ago, and for three
weeks OF January, 4,519719 bushels.
against 7,666,7O9 last year, but the At
lantic exports, flour included. were
1884 us bushels for the week. against
Z,3664 57 last year, and in three weeks
OF January have been 5.O19,O3 bushels,
against 6,S49,648 last year. The price
has declined for corn also, although
everybody knows that the heavy ex-
ports mean relatively more than tho
exports of wheat
Cotton is unchanged after an eighth
decline, but the continuing large move
ment from plantations and the de-
preston OF manufacturing here and
ABROAD, do not encourage high prices.
There has been a general reduction in
prices of cotton goods, which at pres
ent stimulates larger buying. The
wooden industry is as slow as ever and
no real Improvement appears in the
demand for goods, although owing 10
the lateness of the season, there is a.
little more doing, both in spring and
in winter goods without uuOtable
change in prices. The heavy buying
OF wool mentioned last week, has con-
tlnued, with smaller concerns particI-
pating, and is understood to be in an
tclpatiCn of expected duties
Failures for the week have been 400
in the United States against 373 last
year. and IS in Canada against 81
last year.
The aggregate Of gross earnings Of
all railroads in the United States. re-
porting for the first half of January.
is $9,737,724, a decrease of "A per cent,
compared with last year and of 1O1
per cent compared with the CORE
spending period in 1893 Only in the
grangers, other Western, Southern and
Southwestern groups is the number
of roads reporting sufficiently large
and important to give a fair indica-
ton of what the roads in those Sec
tions are doing. The granger and
other Western roads continue to re-
port losses compared with both years
with which comparison is made The
Southern roads report a gain over both
years. and the Southwestern a con-
siderable loss compared with 1893.