The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-09-10

Staples the Highest Reached
During the Past Five Years
Tone of Wheat Has Been steadier
Failures Are Few.
NEW YORK, Sept. 9.-Bradstreet's
tomorrow will say:
Heat and holidays have impaired an
Irregular appearance to speculative and
general distributive trade, this week,
and therefore to bank clearings more
particularly at the East, but with the
arrival of cooler temperatures some i'm
prOVement is reported at those mar
kets. G6ne,ally speaking favorable ba
sic features, already noted, still con-
tinue most in evidence, and the atti
tUde Of quiet confidence in future good
trade is undated Cond lions in many
leading industries but particularly in
iron and steel and its various products,
are of continued, and in some cases,
growing strength. The general level
OF prices Of staples is the highest
reached for five years past. railway
earnings, favored by the enlarged
movement of wheat to market, are
showing larger gains than have been
recently reported. A good export de-
mand for agricultural and manufac-
tured products IS reported. Failures
n,
trade are conspicuous by their infre-
QUency. Less favorable crop reports
from abroad and good export inquiry
are reflected in a rather steadter tone
I'm wheat, and in advanced quotations
for ocean freights. Corn continues to
experience a weather market, but pros
poets Of yield are still regarded as ia
vOrabe
Following the intense activity in the
placing of orders for iron and steel in
the past few weeks has come q quiet
Ing in the demand. but experiences Of
buyers and the very firm and, in some
cases the upward, tendency of prices
point TO the conclusion that the lull is
due almost entirely to the mills being
already heavily oversold. Export bust
ness has certainly been checked by the
inability OF American mills to deliver
within time limits set, but orders have
been placed at the West for a large
amount Of steel bars for shipment for
England. Pig iron is strong. Southern
iron is in particularly good export de-
mand. and holders readily refuse orders
where anything less than the full mar
ket price is offered. Talk of a further
35c advance comes from Birmingham.
'Unabated activity is reported at
Chicago, and dry goods shipments can
not be made fast enough. Small but
numerous advances in prices of differ
that city and St. Louis. Railroads are
reported buying two or three months
ahead of demand.
"Rusiness is active at Kansas City,
Omaha. Cleveland, Louisville and
throughout the entire Northwest. On
the Pacific coast San Francisco reports
merchants interested In developing
trade with Hawaii Healthful activity
exists in distribution at Portland, Ia
coma and Seattle. Some check to trade
is reported in the lower Mississippi val
ley. caused by reports OF yellow fever.
and heavy rains on the South Atlantic
coast are said to have impaired cotton
prospects and TO have checked trade
and collections, but the report from the
South as a whole is good based partly
upon last seasons immense yield and
confidence in another heavy crop TINS
year. Southern mills have done well
during the season Just closed, contrast
Ing sharply with Northern mills in this
respect, hut the need Of an increased
foreign outlet for our goods is unmiS-
taxable In the East much is done in
lumber, paints and glass at Philadel-
phia. General trade is quiet at Balti-
more. Hot weather and holidays check
cd business in dry goods, but cooler
weather has brought an improved de-
1Eaud.
Wool prices are again falling off at
Boston common goods especially and
the demand for mems wear goods is
not up TO the average.
Wheat shipments for the week, in
Guiding flour, aggregate $500, 208 BUSH
els, as against 3,6S7,040 bushels last
week, 5461 506 bushels in this week one
year ago; 3,799,141 bushels in 1896 1,810,-
039 bushels in 1895, and 2,789,000 bushels
in 1894. Since July l, this year, wheat
against 1891, 1852 bushels during the
same period Of 1897. Corn exports for
the week aggregate 1865, 869 bushels,
gainst 1,661, 700 bushels last week, A.
9I3,348 bushels in the corresponding
week Of 1897; 2,255, 288 bushels in 1896,
S4a502 bushels in 1895 and 90 $40 BUSH
els in 1894. Since July l, this year, the
exports Of corn aggregate rs, 407, $40
bushels, compared with 30,476, 757 bush
els last year.
Business failures in the United
States number 142 against 165 last year,
10 in this week a year ago; 1S9 in
1896, 2l3 in 1895, and 223 in 1894 Bust
ness failures in the Dominion Of Cana
ga number II against % last week; 81
in this week a year ago; Al in 1896, %
in 1895, and Is in 1894"
NEW YORK, Sept. 9.-R. G. Dun G. Co.'s
weekly review of trade will say tomorrow:
The volume Of business Is larger than
1t ever has been. Investors across the water
nave caught the cue and purchases of Ameri-
can bonds and stocks have been heavy for
several weeks. Wheat has been about one
cent higher in Drice fer spot. with Western
Itcelpts only about as large as those of last
year Ior the week. No doubt some farmers
nave learned that 1t is poor business m
ma PACK Tor hlgher prices, and vet very 1,,arvJ
are DONG IT, and are making inevito III
q more disastrous decline after a tins
Atlantic exports for the week have -,
22O2,lOO bushels glinst 4,243 1856 last vear.
Iour Included and Pacific exports 1G9 100
against 1884 last year. Corn is a shade
higher, one estimate promising only 9S0 =
OCOCG0 bushels. N'
me Financial Chronicle, with a Weld Of
Hl6O,S60 bales in 1897, Of which 7646 OS5 were
exported, LSo6,OOO were consumed in North
ern mills, l,227959 in Southern mills: 100 =
OS We're added to Northern mills and % OH
10 common stocks. 1t is but fair to saw +hat
the Financial Chronicle makes no caIcuistiops
OF the quantity produced, but not marketed
which the New Orleans cotton aychanga
reckons at $50 900 bales, presumably incIud-
ing Gotten owned by mills, but not yet con-
9umGa. me me. European mills stocks. according
70 Mr.. Ellison, are 10000, against 392 0G0
bales year ago, the American 499 775
against 1886 a year ago. The common
stocks, here and abroad, 16l4 900 bales
against 6e5,OOO year ago. and other allow
ances leaving on hand for the coming 1aor
SC3l, 600 bales, about as much as was sSti-
mated month ago. and indicate a CON
sumption Of 3,GS3,939 bales in this countrv
against 2 S93, 452 bales In the largest nrev;oHss
year. The increase of "A per cent in Southern
consumption during the past three years
with decrease of nearly 9.3 per cent in
Northern mills is significant.
NObOoy can guess how great the demand
Tor iron and stel products may be month
hence, but the manufacturer has the patience
to wait for actual demands before Roistin9
prices. So he 6iVaDo.A hos -