The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-09-24


NEW YORK, Sept. R3-R. G.. Dun g.
Co.'s weekly review of trade Will saw
tomorrow:
Europe will have to consider pos
slble American needs for money much
more anXiously in the future. Doubt
less there has been for many years a.
ieellng that the new continent could
be put off with promises. But the CON
troll of this country. over money mar
kets in the old world is coming TO he
that of master. Our banks lend over
there heavily when it is most conyen-
lent for them, but they draw on Eu-
rope whenever they want money. and
no longer have occasion to limit their
drafts. This country is not drawinp
on Europe as largely to pay for bread.
stufts as 1t did year ago, and wheat
exports for the week, flour included
have been 3,963204 bushels from At
lant1c ports, against 3677 868 bushels
last year, and SAB, AIT from Pacific coast
ports, against 1,094S93 bushels last wear
making for three weeks II, 203. 941 bush.
els from both coasts, flour included
against 10, 500, 129 last year. Prices have
risen sharply, about four cents for the
week, and the exports of corn. though
not as large as last year. have been
heaVy IN comparison with any other
year The price is slightly advanced.
Reports from different cities disclose
a wonderful activity at the chief CEN
tiers OF Western trade the dispatches
from Chicago, st. Paul and st. Louis
being especially significant To East
ern dealers it may be hard to realize
that such an extraordinary activity ex-
lists in the West, although their own
trade is excellent. In Eastern markets
1t is commonly said that no larger
trade has ever been known except in
1877, but the Western cities are running
Things much after their own taste this
year, having greater advantages than
ever before in heavy bank balances,
ana While the exchange week fell be-
low those of last years. per cent, they
are u larger than in the same week in
1892 -
The iron and steel trade expands with
a rapidity which throws into the shade
all expectations, with a steel famine in
Germany, and Great Britain in the
market for tin plates, and American
works are crowded for months ahead
New orders at Chicago cover 80 900 tons
tin plate bars, besides 1000 tons sold
at Philadelphia. Rails are firm, and
markers are thinking of advancing
prices, some sales have been made at
chicago below agreed prices for de-
livery at the far West. Plates are
strong everywhere, but on account of
car construction, especially strong at
Chicago, and the demand for bars on
the same account, issheavy, with an
order at Chicago for 1000, and several
others for 500 cars each. Prices have
slightly advanced for plates, bars and
for wire nails. which are in much bet
ter demand than heretofore. Coke pro-
auction increases, the output at Con-
nellsville for the week having been
l4O65S tons, against 1911 for the pre-
ViOus week, and tin is somewhat
stronger at 1915 cents, rejecting an
advance at London, while copper is
quiet at 12.5 cents for lake, and lead is
comparatively inactive at 4 cents. Tin
plates are selling at $2.S21a for full
weight Bessemer. The copper produc-
ton in August was 19,5O8 tons domestic,
against $500 foreign, and the lead pro
duction, as officially reported, has been
1878 tons for the half year, against
289,59S for the full year of 1897.
The textile industries are not shar-
ing the Seneral improvement to a full
extent, in part because the heavy de-
cline in cotton, with the large stocks of
goods accommodating, makes the mills
disposed to wait for future develop
ments, and in part because the price of
wool is higher than the mills are at
present disposed to pay.
Print cloths are a shade lower, and
also brown drills and in some wooden
goods, especially ladies' cloth, prices
are slightly reduced. There is little dis
position to secure trade in wool by con-
CessiOnS, and sales for three weeks have
been only 10,708700 pounds, against
40, 451, 400 for the same weeks last year
and 23, 463, 700 in 1892.
Failures for the week have been 173
in the United States, against 2O9 last
year, and is in Canada, against % last
year.