The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-06-04
OUTLOOK ENCOURAGING.
Dun's Weekly Review of Trade Con
ditiOhs Makes Flattering
Showing.


NEW YORK, June 3.-R. G. Dun &
Co.'S weekly review of trade will say
May having been the first full month
of actual war, the fact that failures in
that month were smaller, even though
but little, than in the corresponding
month last year, and nearly 10 per
cent smaller than in May, 1886, is some
what encouraging, the more because a
year ago the remarkable decrease in
May gave proof of the heavy improve
ment in business which made the year
so gratifying in general results. Large
failures were eight in manufacturing
for $2.3S5,000 this year, against thirteen
for 81, 965, 900 last year; and In trading,
five for $500 900, against ten for 81, 576,077
in 1897. Hesitation in extending usual
credits soon after war began naturally
affected weak more than strong con-
Germs, but it soon gave place to steady
and increasing confidence.
Wheat dropped "a cents from the
highest point after the May deal cul-
minated, and has since been weaker
for July, because of accounts promis-
ing an enormous yield. Those who
were nearest the truth last year, now
predict about 700, 900, 900 bushels for 1893,
and all accounts make acreage much
larger and conditions much better than
a year ago. But, with $1.15 still paid
for No. red in elevator, and a for
eign demand reaching 4,294,4 9S bushels,
flour included, from Atlantic ports for
the week, against 2,165,7S7 lats year,
and 1854 from Pacific ports, against
1899 last year, the decline evidently
hastens the marketing of surplus and
gives the new crop a better chance.
1t is not less surprising that Western
receipts for the week were 4,263,520
bushels, against 2,099,79 last year, al
though the crop has been by some sup
posed to be almost exhausted, and corn
receipts were also 7,O76,491 bushels,
against 6,116,523 last year.
Exports of corn for the week have
been 4,SS1, 800 bushels, against 1866
last year, and for the first time in his
tory exports Of each grain have about
reached 100000, 600 bushels in the same
year.
OF all the great industries, the cotton
manufacture gives some sign Of shrink
age, cotton having dropped sixteenth
during the week after a rise In goods
averaging for the month about l per
cent, thus rendering the marketing Of
accumulated stocks somewhat more diff
ficult. But print cloths have advanced
and in most staple goods the demand
is improving. Wooden mills are en-
couraged by a somewhat larger demand
for goods, in part from government Or
ders, and are averaging about l per
cent better prices for goods than a
month ago. There Is not much demand
for wool, which is still held in the main
above the views Of manufacturers, and
prices have declined an average Of half
cent for the month.
The iron and steel manufacture leads
all others in gain over previous years.
Its consumption of pig being apparent
ly more than million tons per month,
or 22S, 900 tons each week, against no. $50
tons per week in May, 1892, an increase
I of 1876 per cent. Works beyond the AL
leghenieS are crowded with business,
and While some Eastern concerns are
running part time, mostly bar mills, the
| government demand is felt most In this
section. Above all others of significance
is the wholly unprecedented demand
from agricultural implement works,
which throw in the shade all their past
| orders while the plate and rail manu-
facturers are beating all records, partly
with foreign orders, one for Canada
having been placed at Chicago for IL, 900
tons. Structural work is very heavy,
the West furnishing a large share of it,
and in sheet bars and rods for fencing
the orders are large. Prices of pig have
been somewhat strengthened by enor-
nous buying orders for Bessemer and
basicNat Pittsburg and of charcoal at
Chicago.
Failures for the week have been 222
in the United States, against 241 last
year, and 16 in Canada, against 80 last
year.