The Saint Paul globe., 1898-07-23
WAR NOT A FACTOR.
But Reaction After Phenomen.
Movement of Grain Has IFS ERcc

But Reaction After Phenomenal
Movement of Grain Has It's Effect.
NEW YORK, July PR. G. Dun & Co. in
their weekly review of trade tomorrow will
say:
A state OF war does not disturb business
But reaction after phenomenal movement of
grain causes relative loss. which nanv mis-
take for decrease in the volume of trade So
much grain has been required and shipped
curing the past twelve months that decrease
was inevitable and granger and Pacific roads
SEQ" loss in earnings, even compared with
is92, though not much when compared with
last vecr.
after the surrender at Santiago barely a
week OF rest has preceded the sailing of the
Porto Rican forces. but meanwhile the prss;-
cents proclamation opening Santiago to trade
in terms singularly favorable to inhabitants
there, ard the rush to build up business in
Eastern Cuba are occupying the thoughts of
many enferprising firms. Reduction of one
half IN the tax heretofore paid with honest
instead OF Spanish administration begins to
show to the Cuban residents the meaning of
the change, and they also learn to use money
OF which cur paper dollar is as good as gold
which for them is long step forward
In the stagnant midsummer season. with
business larger than ever before, the great
manufacturers nearly all share the gain
Once before. in 1885. with an extraordinarily
small movement prior to July the shipments
OF boots and shoes were larger than this year.
but in no other year have shipments in three
weeks of July been large. Print cloth
works at Fall River have in part combined
to curtail production, half the spindles of that
city, for q month, but in other branches of the
cotton goods trade no such heroic measures
appear necessary.
There is an increased demand for woo,en
goods. though in some cases SLOW yet In a
number of the production Increases
though the mills not satisfied yet Only
5. 23S, 200 pounds of wool were sold last week,
and in three weeks only II. .S79. 800 at the three
chief markets CT which 8 629 7c9 were 1om= site
against 81. .124 700 last year and 3d. $50 in the
same weeks OF 1892, 1869 600 being domestic
verge Of another revolution since Be samer pig
Is held by curtailment of production in the
South and Mahonning valley at SIS 90 at
Pfttsburg. and yet some steel works have
made some extraordinary sales of billets-1e0 :
eco tons to the great wire association So 900
to rush parties at Chicago, at $3.50 20 900
tons at Pittsburg at $14.75. The demand for
structural forms keep all works busy and in
cludes for the week 3 500 tons at Chicago in
three contracts. and 1900 at Pittsburg in four
others. while the plate mills are everywhere
crowded. sheets and bars are both in better
demand than heretofore. and the prolonged
weakness in cast pipe. which usually requires
nearly 700. 900 tons Of pig in year. may pres
emily be cured.
Heavy sales of Lake copper have fixed the
price at 11kc. and the entire output for the
last half year has been 125 900 tons American
against 4000e tons foreign. although four
years ago the foreign output considerably ex-
''The closing Of seme New England mills he q
doubtlessly affected the price of cotton to
some extent. and yet the crop reports are sum-
cientiy favorable to depress prices one-eighth
during the week. without other influence. The
collapse OF a strong pool to advance prices
and control the market is also reported
Failures for the week have been 207 in the
United States against 227 last year and IT in
Canada against % last year"