The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-15


Fnctor-Bradstreef weekly
Resume.
NEW YORK. Oct. 14.-Bradsueets tomor-
row will say: While the advent Of cooler
weather in most sections OF the country has
undoubtedly been instrumental in causing
some OF the Improvement IN the tone of dis
tributivc trade perceptible at most markets
this week the beneficial effect upon general
business and particularly upon agricultural
products. and tie reported improved demaL
abroad for our staple cereals should not be
lost sight Of. AT most western centers a /
Improvement in the retail and jobbing t ade
in season8ble dry goods, clothing and shoss
is reported and more SelSonable weather at
the South is responsible Tor some reiaXatlon
OF the absurd guarantees which have done
50 much to cripple trade IN that secuoi'
Particularly prominent in this connection Is
the lOOsenng of the guarantees IN the lower
Mississippi valley where it bsgins at last APP
parently. 10 be appreciated That the quar-
antlnGS are worse than the disease they aim
to fight Good export demand genera
European account smaller shipments from
Russian and Danubian points, less favorable
reports regarding Russian and Australian
crops and an undoubtedly active home de-
mand for wheat FOR milling, superuduced by
the active foreign call for -four have al
worked 10 strengthen the price of wheat this
week and sympathetic reelection is foun1
in the improved call for other cereals
slightly better prices. Another favorable fla
lure IN the foreign llaQe SITUATION, 100, mas
been the apparently satisfactory progress
making in developing trade with our new
possessions in the Atlantic and Pacific. Large
orders on Cuban account said to have
been placed recently in New York and heavy
shipments to Manila and other Pacific ocean
points with the reported starting OF new
line of steamships to Honolulu and Australia,
all bear testimony to the energetic efforts
of American business men TO build up our
trade abroad Railroad earnings and bank
clearings continue to furnish favorable ceas-
1f.4 h11sf
TIE leather situation has attracted more
attention this week because of the reported
intention to shut down large numbers OF
tlnneries in an effort to affect the Jrice of
hides. which are now said TO be relatively
higher than the finished product.
Iron trade reports are a repetition Of re-
proportions, but mills and founderies are
kept fully employed on early orders.
Wheat, including flour. shipments for the
week aggregated 4,729 995 Blu, against $751;
22l last week, 59S9 72O in this week q yea-
ago 4,156 81 IN 1895 2 400, AS in 1885 and 3,192
09S in 1894. Since July l. this year, the ex-
ports Of wheat aggregate sc, 628,116 against &C.,
92Q.I32 during. the same period year ago.
Corn exports aggregate 2,7t6 292 as again
1854, 10 last week 224, 716 in the correspond
ing week of 1897, LII, so IN 1896 $50, 672
in 1928 and 113 559 in 1894 Since July l, this
year, corn exports aggregate Al, $50, 243 against
Is $40 SIS last year.
Business failures for the week numb 233
against 1913 last week, 1876 in this week yesr
ago 279 in 1856 2S9 in 1895 and 253 in 1894.
Business failures in the Dominion of Can
ada number this week, % against % last
week are only half what they were one year
ago and-compared with 80 in '96, 81 in '95
and SO IN "a.
NEW YORK Oct. 14.-Bradstreets hnan-
cial review tomorrow wi! say:
Speculation In the early part Of the week
was dull, and the markets tone heavy. Later
on 1t assumed more activity. displaying
tendency to rally from the recent depression.
Professional trading and manipulations sup
piled, however the bulk Of transactions
throughout and the public buying con-
spicuOus by its absence. The alleged in
fuenCe of election uncertainties and the I'M
Sc tied political outlook in Europe have COM
bined to reduce the outside interest TO very
small dimensions. Bearshness On the part
Of traders, however. resulted in the creation
OF a fair short interest, and while the large
financial interests show very evident signs
Of q disposition TO wait until after the cleo
ton certain elements in the street appear
to have taken advantage of the situation to
create a rally on the shorts.
The bond market is dull, with prices well
sustained in the railroad department. The
governments are well sustained and the
demand for new IS carried their price up this
week 20 1853.
INDUSTRIAL stocks have again been the prin-
cipal 0Siects Of attention. Sugar continued
It's irregular decline. falling TO 10S34. but
hes had FREQUENT rallies on the short inter
est. On Friday. however it broke on al
legged new cuts. Tobacco, though less active
has been Irregular. The announcement thai
the control of the Drummond factory at St
Louis had been secured was ACCOMPANIED
by the announcement of the issue of consid-
erable stock to pay for it and the renewal
Of the plug tobacco war On this the price
Of the stock sod down from 1874 to 116 but
support was secured and the stock rallied
The principal feature Of the railway list
was the movement of Northern Pacific. IN
der selling induced by stories Of an integral
gerred was put down from IS to 743a, and that
Of the common from 421s to 3S1s. Later they
It'd
short coverings and fresh buying due to re-
ports that the dissensiCns had been settled
and that a dividend on the common was in
prospect
NEW YORK, Oct AR. g. Dun & CO. s
weekly review of trade will say tomorrow:
with actual payments through clearing houses
~ per cent nrger than in the same W. e1
Of 1892. it cannot be said that business is
~ any sense falling eff, and yet many are
complaining because the amount realized &c
profit is smaller than was formerly realized
On good times. In almost every branch of
business trade is now transacted on a mar
rover margin OF proft than in any other time
OF falr prosperity. There is a great change
and, perhaps, a permanent one in the par
centage Of profits derivable from trade and
able by transporters.
Progressive civilization calls for a lower
range OF profits and Of prices as the volume
OF business transacted Increases, in order TO
make possible improvement in the case of
the working millions
The price of spot cotton is a sixteenth lower
than q week ago, and the January option has
also lost few points, while there is a weaker
market for goods. This is partly due to the
Official admission that the price of print
cloths. now a sixteenth below &c cannot he
sustained without selling agency witch
Is now proposed. Although the productIon
at Fall River is IN excess of demand Tho
dlnerenCe in price is probably more laroeIy
Que 10 the belief that big Weld of cotton
must reduce the price of the material Will
some wooden mills have started onerations
during the week, quite as many have stonre 81
although wool is about 10 per cent lower
S 5a9 twas 1t was Feb !, the manufacturers are
got buying, and the market is ramarka3lv
0uIl, with sales of only $40 700 aft thraa
gnarkets. against 4331, 600 last year. and ID =
s56300 in 1896 and Is. 7OS, 500 in 1892 The
general Keeling Is that the price of the ma
terlaI must decline before the MANUFACTURES
can much increase its sales. Orders for goods
have been little better and a few mills heva
resumed operation, but there is as vet no
rent prices of wool
The iron manufacture again presents small
increase In weekly output, 215. f36 tons
seainst 2lSO4S month ago and with tha
outslde the great steel companies tte
apparent consumption for the rnontb
OF September was 9SS S04 tons against
". 3O3 IN August. There are quite heavv
eastern orders for foundry iron, fully sun
porting prices, and at Chicago prices Of Local
Iron are strong with less disposition to sell
So9thern pig at reduced quotations. The
heavy demand for plates. especiaIIv for sbtS
yards, several of considerable magnituda for
structural work, covering about TX ON0 TONS
ana an unusually heavy demand for bars
especially on account Of orders for car yorI-s
although there has been an exDecta fion ~
big break in cotton ties. Pittsburg has heen
able TO place orders for 80 miles Of 1oinch
pipes and orders for 100 miles are practical
Failures for the week were 2o5 IN Tho T,D,.