The Saint Paul globe., 1897-10-16
BAROMETER BY WHICH DITN's
MEAST-RES THE IMPROVEMENT
IN BUSINESS.
CRITICISM is 0UTWElGHED
BY FOREIGN TRADE AND THE VOL.-
TME OF CLEARING HOUSE
PAYMENTS.
BRADsTREETrs NOT so OPTIMISTIC
Activity in the Distribution of Cen
ernI Merchandise Less Active
Than a Month Ago.

NEW YORK, Oct. 15.-Dun & Co. s
weekly review of trade viii say to
morrow: Foreign trade in September,
the heavy increase in pig iron produc-
ton and consumption, and the largest
payments through the clearing houses
ever known in October, are indications
which outweigh hostile criticism from
some quarters The increase in en-
plOymeut Of labor has continued, with
further accounts daily of works open
ing, Increasing force of hands or rails
ing Of wages, and al every point where
actual production can be tested it a.p-
pears greatar than ever before. Ef-
fCrts by the Bank of England have de-
1Hyed further gold exports; but with
cotton movement rising, large ship
ments to this side are deemed certain
and not distant.
More gold, hOwSEar means less just
now than more iron. The output of
pig iron Oct. was 200.128 tons weekly
against H. 782 a year ago, the increase
since July having been % per cent
UnsOld stocks have been reduced at
the rate of 40,271 tons weekly in Sep
Iember, indicating q consumption ex-
ceeding 2S2, 600 TONS weekly, which is
about 10000 tons greater than ever be
fore and 40 per cent greater than three
months ago. Prices Of pig hold steady.
though the production has been fur
Lher Increased since Oct L and prices
Of finished products gradually rise with
especially heavy demand for plates
rods and bars, while another contract
has been taken by the Illinois Steel
company TO deliver 10000 tons Of steel
rails for Japan, and the Pennsylvania
company has bought $4,000 tons Ore
shipments on the lakes surpass all rec
0rds.
The cotton mills are producing as
largely as cheap cotton invites, and
with moderate demand print
cloths are lower al :. a cents, and some
grades Of other goods are slightly re
duced. Sales Of wool for TWO weeks
have been p. 331. SOC pounds Rt three
chief markets, of which 10 s398 800 were
domestic, and, while quotation 10 main
ta1Ded, large lots previously with drawn
by c0nsigners are now offered The de-
uand for spring goods is limited, but
the prices Of some qualities have ad-
vanced q shade further
Wheat has been fairly steady but
moving more largely than last year
from the farms and from the Country
Western receipts We're 15,16I054 bushels
in Two weeks of October against IA. .235,
0l5 bushels last year, and Atlantic ex-
ports 6,463, ,401 bushels -four included,
against Z, ~ ,S45 bushels last year, while
corn exports were 3,262, ,S387 bushels
against :, ,309. 925 bushels last year. Sep
teIn.ber exports of wheat surpass all
records, amOuntig 10 "a, 868, 1873 busheIs
against 17646, ,815 bushels last year, ow-
ing to high prices, the value being
ever Zoe per cenT larger for all bread
stuffs. The price Of wheat has declin-
ed q Of q cent and corn ! cent with
the government report Of yield eX-
ceeding 1. 100000, 900 bushels.
Failures fOr the week have been 2223 IN
the United States against 328 last year.
and sc in Canada against 40 last year.