The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-14

, and more forcibly yet by the heavy
purchases they are making. But the
customary signs of prosperity are not
lacking. The strong rise in stocks, the
growth of bank clearings and railroad
earnings, the heavy speculation in
| many products, but most of all in
wheat. have made the week one of
| SURPRISING interest even to those who
| best remember the upward rush in
| 1879. At the principal clearing houses
| through the country payments in July
were for the first time slightly larger
| than in 1892, and IL per cent larger
than last year: in the first week of
August, II per cent larger than in
1892, and 28.4 per cent larger than last
year, and in the second week of Aug
ust they are 17.9 per cent larger than
in 1892, and 1S.1 per cent larger than
last year.
The great crops and the haste of
foreigners to buy and ship-wl1eat in
view OF shortage elsewhere, have made
the week memorable. Taking Of
profits by pool lowered the price 8
cents on Saturday, but it has since
risen cents.
In all the great industries a. large de-
mand for products appears with strong
speculation in materials and in inter-
medlate, products. In the iron and
steel branch, starting of many works
atter settlement of wages keeps prices
low, and even depresses some, but the
fact that the demand rs growing leads
70 70 neaVy purchases of iron ore, 900
IONS at Cleveland in a week, and of
o1llets, 10000 tons, while concessions
recently reported in pig iron have
ceased The output of furnaces was
aug. l, 1853 tons, against 164. .O64 Julv
l. ana decrease in known stocks un-
soId indicates a consumption for two
months past, averaging $4,000 weekly
hn ~,
months of 1892, though below the
greatly increased capacity of works
now. Sales of tin are moderate. of
copper to American consumers large
II IS said at lie for lake, and of lead
at 9I272, with speculative realizing. but
HT;aky iasy sales OF TIN plates are bringing
slightly better prices.
All textile industries are ENCOURAGED
ny greatly improved and really large
uenIand Tor goods which causes nanv
70 advance in price. With production
Ihuch curta1led, stocks of cotton goods
ate rapidly decreasing, and in woolens
advances have been made in cIav
worsted and mixtures f1anna1s 40
fnlddlesex suitings; speculation in wool
continues, with prices about 1c higher
put sales of 23,499, 800 pounds in two
weeks show the willingness of Some
holders to realize. S044t0
PUBLIC IS AFTER STOCKS.
NEW YORK, Aug. 13.-Bradstreet's
review Of the stock market tomorrow
VIII say: After little hesitation at
the beginning of the week the market
mas broadened and advanced on an
enormous volume of transactions
PubHc buying Of an aggressive kind
mas mas absorbed all offerings and the lead
ing financial and speculative interests
nave evidently lent their aid to the
movement. A feature has been the
aItention paid to low priced and ne
sIected securities, many stocks of this
cIaSs advancing merely in sympathy
WIN WI the general movement of prices
4. Inc advance in grain and confirma-
tlon OF previous estimates of Eurone's
requirements, together with the dron
IN exchange and expectations of large
gold imports are among the LEADING
FACTORS in sustaining the decided buI1.
lSh sentiment. The street is also in
nuenced by the increasing returns of
raAlroad earnings all over the country
as we'll as by the accounts of the vol
ume Which railroad earnings are as
Stunning. The movement has not been
without dangers of over purchasing
and the creation Of weak accounts. 4
moderate selling movement on Fri
day, which was, however, steadied bv
the leading bull interests before it had
gone very far, was therefore looked on
with some satisfaction.