The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-08-20


With the Expectation of Benefits
to Export Trade as Result of the
Return of Peace Give Buoyancy to
the Trade OutIOOk-Situation in
Cereals Shows Little Change.
NEW YORK, Aug. 9.-Bradstreet's
tomorrow will say:
Perhaps the most interesting of the
general business situation at present
is the air Of confidence with which
the mercantile community awaits the
approach of the fall trade period
Whlle, or course, based in some de-
gree uoon favorable results already
achieved In many lines, It is unques-
tonably true that the fiattering crop
OUTLOOK at home and the return of
peace, with the expectation of benefits
70 our export trade, naturally expected
TO accrue therefrom, make much of
the feeling thus expressed Reflection
or the growth Of fall trade is found in
the steady expansion now going on.
bank clearings, the improving demand
at higher prices for most makes Of
iron and steel, the generally favorable
railway earnings which. in default of
a large movement Of crops to market
point to large return trade, and the
reports of continued activity in dis
trbbutive trade, West and South, with
signs of moderate increase in inter
est at leading Eastern markets which
hitherto have not shared largely in
the trade improvement. The immense
business doing in iron and steel prod
ucts, at advanced prices calls atten-
ton to the proporttonately less notable
expansion Of crude iron trade Pig
iron statistics, in fact, point to an
even smaller output for the current
month, some Of which curtailment, Of
course, is naturally based upon mid
summer conditions. Advances in many
grades Of iron, notably Bessemer and
Southern pig, are features of the week,
as are also higher quotations for steel
billets at nearly all markets, wire rods
and great many classes Of finished
iron and steel, particularly structural
material Advances in copper on the
strong statistical position, and lead
are also among interesting features in
the metal trades. AT the West iron
and steel is particularly active, and
the number Of orders already booked
make manufacturers fairly independ-
emit regarding prices, and favor an adj
vance on future business.
The situation in cereals show little
change. The balance Established by
the phenomenally reduced visible sup
plies, active milling demand at home,
and fair export inquiry ON the one
hand, and very promising crop out
look on the other hand. tends to
steadiness in prices, and other cereals
sympathize with wheat. Large sup
plies of raw cotton at home and
abroad, and the prediction of a yield
this year nearly equal, if not exceed
ing that grown a year ago, while nat
urally stimulating to business at the
South, has a depressing effect upon
the price of the raw staple, and quota
lions are fraction lower for the week
and two cents a pound lower than a
year ago at this time.
Reports as to collections the coun-
try over are very encouraging. From
winter wheat sections especially re-
ports are very good. Some slownesS is
noted in payments at the Northwest,
but this is expected to disappear when
the spring wheat crop moves.
Business failures are larger in num-
Der than last week, aggregating 1875
against 157 last week, but compare
with 221 in this week a year ago, 264
in 1896, 1872 in 1895, and 251 in 1895.
Buyers are appearing in increasing
numbers at leading Western markets.
Chicago reports increased activity in
distributive trade on country demand,
WIFI QIy SOouS SHlpIleHLS especially
large. Sales Of iron and steel are re-
stricted to inability to deliver. The
short pack of canned salmon has adj
vanced prices. Southern and Western
buyers are arriving at st. Louis, and
dry goods. boots and shoes, hats and
caps are all active. Advances in struc-
tural iron are a feature, and tin plate
and sheet mills are behind on orders.
Kansas City, st. Paul, Omaha and Min
neapolis report active trade. East of
the Mississippi and north Of the Ohio
river, in the West, reports of trade are
not so fattering, but steady business
is reported doing, with some slight i'm
provement at a number of markets.
Bad roads still restrict business at New
expected. At Memphis the outlook is
for the heaviest business in the history
of the city, but damage by cotton
worms affects trade at Galveston. In
the South Atlantic cities reports are Of
a perceptible improvement in trade. On
the Pacific coast, while business is
quiet in California, large crops in Ore
gon and Washington are expected to
make fall trade lively. Oregon fruit
men are doing a good business, and
are shipping ITO California points. At
the East, more is doing at Baltimore.
Southern buyers are increasing in num-
Der, and stocks are reported heavily
reduced. Business is active at Pitts
burg, iron and steel being especially 50.
At Boston and New York a moderate
improvement is noted. The depressed
condition Of the raw staple tends to
discourage future business in cotton
goods, but print cloths are firm, and
there is less talk Of curtailing produc-
ton ait Fall River. In wool and
wooden goods business is only mod
crate, and manufacturers buy for pres
ent requirements. Orders for mems
wear goods for the spring trade are
coming in better.
''Wheat and corn shipments are
smaller than those Of last week, but
are still ahead of last season. Wheat
shipments for the week, including flour,
aggregate 3,795,9 1898 bushels, as against
1928, COG bushels last week and COM
pared with 5,316,S03 bushels in this
week of 1896; 2,3S9,140 bushels in 1895,
and 3,1S2,100 bushels in 1894. Since July
l, this year, the exports of wheat ag-
gregate 2195O, 666 bushels against 81
49,, 346 bushels last year. Corn exports
for the week aggregate 3,196,021 bushels
against 3,517, 952 bushels last week, g.
,035 bushels in 1897; 2,769,601 bushels
in 1896; 1.195,238 bushels in 1895, and
100000 bushels in 1894 Since July 1.
this year, the exports of corn aggre-
gate 20,22S,365 bushels. against 1885,
S93 bushels during the same period last
year.
Canadian trade is quiet, but the
tone is one of confidence, based pri-
r1arily upon an expected wheat yield
larger than ever before in the Domin-
are good, but mills are now able to
keep UP with the orders, and imports
of United States cotton goods have
ceased. At Toronto business shows a