The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-11-13
VOLUME OF. PAYMENTS THROUGH
CLEARING HOUSES LARGER
THAN LAST YEAR.
RETAIL TRADE L IMPROVED.
COLDER WEATHER HAS MATE
RALLY HELPED ,DIsTRIBU-
TION IN SOME sEcTIoNs.
PURCHASING POWER. INCREASING.
Favorable Feature of the
Last Week.

NEW YORK, Nov. 12.-Dun & Co.
weekly review of trade will say tomor.
row: Colder and more stormy weather,
so long needed to accelerate distribu-
ton of winter goods, has materially
helped in some quarters, and the re-
sulting improvement in retail trade is
mentioned in nearly every Northern
dispatch this week, SO that orders to
fill stocks have been encouraging and
In some branches the demands for i'm
mediate delivery show that the distri-
button to consumers has already gone
much beyond the expectations of deal
ers. But this is not yet the general
rule, and with many complaints of
delayed trade from other quarters
there still remains the extensive shrink
age caused by fever and quarantines
at the South. 1t is, therefore, the more
surprising that the volume of all paw
ments through clearing houses con-
tfnues about as large as in 1892 and
1871 per cent larger than last year.
Railroad earnings also nearly equal
those of 1892 for the first week Of No
vember, and half the mileage in the
United States shows earnings in Oc-
tober of $50, 1854, 996, or per cent larger
than last year and % per cent larger
than 1892
Speculative markets feel dissappoint-
ment because prices do not rise far
Their and faster, but 1t is fortunate for
producers and dealers that the experi-
ence Of some past years in that respect
has not been repeated There is moth
Ing to cause general reaction, the pur-
chasing power Of the people is grad
ually increasing, and after the lull
which follows extensive replenishment
OF stocks, trade should give ample evil
dence Of that increase
The output of iron furnaces Nov. I
was 213,159 tons weekly, against eco 129
Oct. l. a gain of 81 per cent, and I'M
sold stocks decreased AZ, $50 tons in Oc-
tober, indicating larger CONSUMPTION
IN manufactures than ever before, even
when the output of pig was pushed by
swiftly advancing prices to the highest
point, 217, $50 tons, Nov. 1, 1896
Woolen mills generally have orders
for three months ahead. and are not
seeking further engagements. Large
sales of speculative lots of wool at
prices not stated suggest that it NAV
be lower before the mills need further
orders. A year ago the price began to
mount, with heavy speculation, and
has risen SO per cent without reac-
ton. in quotations, while the rise in
goods averages but IA per cent. The
decline in cotton and the slow demand
for goods, owing In part to warm
weather, have led cotton mills to con-
fer about curtailment of production
| and further reductions have been made
in brown sheetings and drills. prints
! and by jobbers in bleached goods. Cot
ton declined an. eighth to 5S7 cents
for middling uplands, and both exports
and taking of spinners have been large.
Wheat dropped over 2 cents, but has
since risen as much, with heavy buying
| for export. Western receipts continue
| heavy In two weeks IA 028, 907 bushels
against 1851, 1872 bushels last year
while Atlantic exports, flour included
have been 6,562,025 bushels, against
| 1921 ,231 bushels last year. An English
authority reckons the worlds yield at
| 161, OO0,O00 bushels less than last year
which would mean a market for all
| this country has to spare Corn exports
! are again larger than last year, and
| the price has risen rs cents. Later
prices of meats do not indicate that
| farmers have as yet much inducement
| to save corn for feeding
| Failures for the week have been 291
| in the United States, against 27S las;
| year, and "a in Canada against 48 last
| year.