The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-07-30

NEW YORK. July 2s-R G. Dun &
Co.'s weekly review of trade will say
tomorrow:
Big business in January is expected
but big business in July means more
1t is the month of all others when
trade is naturally light, new engage
ments are ordinarily deferred, and men
wait for the outcome and movement Of
crops. But more business Is being done
this year than any previous July of
Whlch there are records. The payments
through clearing houses have been
5.S per cent larger than in 1892, the
year OF greatest prosperity heretofore
and for the month thus far, SIS per
cent larger than last year and S.4 per
cent larger than in 1895. But these
records and others have to be judged
IN the light of heavy decline in prices
since 1892, so that the volume of bust
ness transacted is about 20 per cent
Larger than the volume Of payments
indicates
considering that the purchases of
nearly half the people depend upon the
success of agriculture, and that the
prosperity of the entire transporting
interest is materially affected by the
size of crops to be moved, it may be
sald with reason that the promise of
general prosperity this year is unusuaH
ly bright. Wheat receipts for the month
thus far have been 1908 1873 bushels,
against 1O,652,074 last year, but prices
have declined liz cents, and farmers
are holding back their wheat in the
nope of higher prices. The exports
for the week have been 7.O37,S15 bush
els from Atlantic ports, flour included,
against 1,718,739 last year, and from
Pacific ports 126,177 bushels, against
329,S9O last year, making for the month
1888, 1872 bushels. against 1872 67 last
year.
Corn made little advance in prices,
owing to reports of injury to the crop
and also because exports for the
month thus far have been singularly
we'll maintained, amounting to 6,567913
bushels, against S,009,616 last year.
Wheat, on the contrary, has dropped
about 91s cents. with prospects Of fur
Their decline.
very good, though too much rain is re-
ported in some Southwestern states.
The market is a little encouraged by
better demand, though prices do not
improve. The effort TO curtail produc-
ton at Fall River has been checked by
refusal of mills at other points to CO.
operate.
''The sales of wool show a remark
able increase in large transactions for
which no prices are NAMED, being quot
ed at Boston covering 100000 pounds,
and the aggregate at three chief mar
kets have been 100000 pounds for the
week, and for four weeks 19,499, $780, Of
which 12,511, 400 were domestic, against
46, 200 last year. Of which q, 53S,500
were domestic, and $780, 900 In 1892, Of
which q. 448,9 900 were domestic. The de-
mand for goods Is rather better.
The official report of iron produc-
ton for the first half of 1898 shows an
increase Of over half million tons,
compared with any previous half, and
what is far more important, the con-
sumption in manufactures appears for
the half to have exceeded output. Es-
timating the exports for June-onIy five
months have been officially reported
the consumption has been 5,91S,510 tons,
against 5909,703 produced, averaging
991, S91 tons month, against 9S4. $50
tons produced. It is we'll to remember
that in June, when production de-
clined because of stoppage for repairs.
the decrease in unsold stocks was 4,216
tons weekly. The new orders received
are surprisingly large for the season,
covering 5000 tons at New York for
rails. and 10000 pending for Russia,
and 5000 for Japan, with 10000 taken
at Chicago, and a noteworthy demand
for structural forms at Philadelphia
and increasing for bars, with enough
to keep the plate mills busy for a long
time, a larger demand for bars at Chi
cago, including one order for 5000 tons
implement stuff, and an excellent
structural demand, and the heaviest
demand for plates ever known at Pitts
burg. Sales of Bessemer iron have
been heavy. reaching $4,000 tons at
Pittsburg, without change in prices.
Failures for the week have been %
in the United States. against 2S6 last
year, and 26 in Canada, against % last
year."