The Saint Paul globe., 1897-05-29
TRADE VOLUME LARGER THAN
EVEN THOSE MOST DIRECTLY
INTERESTED REALIZE.
LITTLE MARGIN OF PROFIT.
PEOPLE DECEIVED WHO ARE AC-
CUSTOIED TO RECKON ONLY By
VALUES.
FROM BRADsrREETs VIEW POINT.
Spring Business on the Whole Has
Been a Disappointment In Its
Actual Results.

NEW YORK, May 2S.-Dun & Co.'S
weekly review of trade tomorrow Will
say: People are actually doing more
business than they realize They
reckon on values, but these are much
lower than in any previous week OF
prosperity, and leave little margin for
profit In quantity there is almost as
much business being done as in the
years of greatest prosperity, anu.
though the increase in poulation would
call for material expansion, the COM
parison is not discouraging. The re-
covery is slow, hesitating and gradual,
but more has been done, on the whole,
in May than in April, while returns
of April showed the volume Of business
only 10 per cent smaller than that OF
the best year heretofore. Yet, hes1ta-
ton is doing it's work every week, and
Inultitudes are waiting because of pos
sfbilities at Washington, who ought to
be filling the demand for labor and the
products of labor.
Events have proved that the crop
of wheat going out is much larger
than any of the markets expected, and
Western receipts for the week were
80 per cent larger than last year, while
Atlantic exports have been for four
weeks 6,315. .329 bushels, flour included,
against 4,9SS,777 last year. At this sea-
son actual receipts count rather than
predictions, and the truth is that the
country has exported an extraordinary
quantity of wheat and flour, and yet
has so much to spare that the May
option has declined near a cent for
the week. ...
Besides the outgo Of corn, largely
taking the place of wheat in foreign
consumption, is far beyond precedent
or expectation and for four weeks has
been $3.50, ,O91, against 6,0O1, 1886 last year.
With liberal interior supplies, the
price has declined a fraction. Cotton
is unchanged although at this season
exports are insignificant.
Manufacturers have special causes
for delay, owing to the possible COM
petition Of foreign goods, largely i'm
ported, but there has been no setback
in prices, although cotton goods ar,
dull without large demand, and print
cloths are at the bottom price. It is
evident that production far beyond the
consuming demand has forced the in
dustry into a waiting attitude Dis
tribution of all dry goods is at present
retarded also by cooler weather than is
usual at this season. The woolen mills
are producing more than they have
done for years, though much less thau
they could or would like to produce,
and manufacturers are doing almos.
nothing in the. wool market, though.
speculation has kept the sales. large
The iron manufacture gains in spite of
the closing of some furnaces. The pro-
duetion of pig exceeds consumption
and is somewhat decreasing, while the
consumption has gradually gained this
week, in part because Of several struc-
tural contracts, including 1000 tons for
this city alone, and in part because
of the agricultural implements works
have made larger demands, and also
because of the proposed leasing Of
nearly all the rod mills in the country,
which has caused some buying.
Failures for the week have been 214
in the United States, the smallest in
any week since September, 1895,
against 239 last year, and % in Canada
against 20 last year.