The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-08

Trade as Compared with TINT of
n Year Ago-GcneraI Industrial
Situation is FavOrabIe-Active
Demand for Actual wheat.
NEW YORK Oct 7.-Bradstseet's tomorrow
Will say: with the exception OF sore parts
of the South where heavy storms vel oy
fever, with resulting guarantees check S
tributing a very large 2asiness appears to
be doing, though complaints OF narrow
margin Of profit are wei nigh unGn IN us.
While the bank clearings Of pSemSec 20 n
to q slightly smaller business dine the c IN
try over than one year ago, tbs Wet nS-
ures point TO a fair gain over last year, ana,
therefore, over all previous recon- DIS for this
week of the year. The volume or dlsAlDd-
ton as q whole is well up to or above that
reported a year ago, IN most s-ctlonS, anu
therefore, far in advance or recent pFec d
ing annual periods As for some time past
most activity is Iercepuble in the west
Northwest and on the Pacific coast, pa'tcu-
larly at Puget sound and Columb river
points. 1t has been a carnival and fall cele-
brstion period at number Of W@st m cities
this week, and resulting large stribu il n,
both retail and wholesale, is repor, ed.
Al leading Eastern markets recently favor
able reports are fully maintained, with busl-
ness in textiles, particularly c ttCn ana Wo l.
en- goods, leaz1 tavorably situated: SnS
are not wanting that the spre- d of yell W
fever in SEINE sections OF the S-uth, W tn re-
suItng guarantees, has SHARPLY chez FL
trade in The lower Mississippi val ey, WI lie
heavy storms on the South Atl9ntic coast
have operated 10 arrest distribution and re-
duced the rice crop.
The general Industrial situation is a very
favorable one. Marked activity continues 10
be q feature Of the iron and stesl trade, but
the immense rate Of product or at present in
the absence Of immediate new demands has
caused a shading OF some Few grades cf pig
iron and steel billetS. Movements n an up
ward direction, however, are reported from
the West. Tie situation as to prices g Z
orally is one OF sus aimed strength, wheat
being prominent In this resp ct, while the
most important reduction IS chat growing cut
OF the refined sugar war. To he exceptional
strength OF ocean freghts is cSarg d som
of the falling of in exports from S-utAei
points.
business failures are still down to mini
mum. numbering 1913 for the week, agai st
165 last week 2S7 in this week year ago,
ard 23S IN 1894.
Active demand for the actual wheat and
unprecedentedly small stocks to start win
have con st;tuted a balance for generally e*ti-
mated maximum worlds yields and reoent
considerable increases in stocks at me and
abroad. In the face, therefore, or ga n or
7O0O coo bu in American ard European ockS
last weeks prices, influenced by tire small
net gain in worlds stocks in ptember-'5,-
10000 bu-have ruled frmer and higher.
Bradstreet's monthly report of wheat ock5
shows a total on Oct. l in this country an
Canada of o, 52S eco bu, a gain Of 1925 COD
bu for the month, against II l46,OOO bu
wear ago while European s ocks on a Ike
date are given at q 400C0l bu, a gan OF
only 100000 bu, against 14,232G0 BIZ gain
In September a year ago. A combined "a n l;
here indicated Of only 15500,0GJ bu, against
27O00O90 last year and 20,C0O,GCO to HOO,-
600 bu gain in 1885 and 1896. Stocks in IN s
country and Canada east of the Rocky
mountains on Oct. l are the smallest re-
ported at that date since 1882. Prices of lead
ing staples, as reported TO Braustreet s:w9iie
showing rather more tIregulaIity, are, in the
main well held.
Warmer weather early in the week checked
buying of heavy goods at Canadian cite ,
but better conditions later have favor ably af-
fected distributive trade. Toronto reports
heavy Northwestern buying With farmers IL
that section still deposiurg wheat in ee-
VstOrs. Deliveries are more Epcrai, "a
though prices are still above an export basis
in Ontario.
American lumbermen are reported hiring a
large number Of men for work in Cn 4da
Canadian failures this week number %,
against % last week, 40 in this week YER
ago, 81 in 1895, "a in 1875 and 81 in 1894
NEW YORK, Oct. 7.-R. G. Dun & Co. s
weekly review of trade will say:
It can 10 longer be denied that the large
Eastern advances on wool to be held for high
er prices has helped to retard the natural de-
cline in that product, Of which l0J quota
tatons of Coates Bros, Of Philadelphia, aver
aCe Isle again 20.73 Feb. l. while eXCrao -di-
narily small sales only 2,614,360 lbs for the
week at the three chief markets, against IL
357 go last year, 500 in 1895 and 709 60o
in 1892. indicate very little demand at this
time for manufacture The truth is that de-
mand for goods is not always helped by hEh
prices for wool. The cotton industry shows
better conditions in spite OF the fail OF cot
ton TO the lowest quotation ever known, ana
there is larger demand for most staple goods.
The iron industry still gains so rapidly that
an unhealthy boom would seem to be IN
progress but for the peculiar conditions. In
spite Ct the combination Of valley producers,
who now propose a joint selling agency at
Pittshurg sales run a little below their liked
figures, 5000 being quoted at PlttsDurg ana
ST p far grey forge while Southern and local
iron are steady at Chicago, and anthracite is
not stronger at Philadelphia. But the con-
sumiug demand is remarkably heavy and
large contracts this week cover 5000 IONS OF
structural iron at Chicago; 5000 tone - Bos-
tom 1000 tons ship plates at Cleveland, and
n heavy demand for bars, the Pennsylvania
railway requiring $500 cars and the North
western 1850 cars. Failures for the week
have been I69 in the United States, against PIP
last year, and q in Canada, against % last
gear.
NEW YORK, Oct. 7-Bradstreet's financial
7Niew tomorrow Will say:
It has been an irregular market with re-
a,ricted professional trading. Most Of the de-
velopments, including the current reports OF
railroad earnings, have been favorable, but
the breaks in the industrial stock list under
the lead Of Tobacco, last week, and of Sugar
stock this week, have apparently eliminated
public Interest for the time being. London has
shown a disposition TO purchase the Pacific
stocks, but its transactions have had lltfle
effect The increasing ease of the money mar
ket seems TO be responsible for strength n
the bond list but neither this nor the con-
tinuance Of god imports seem to relieve the
dasEIng spirit of speculation. The chief incl
dent has been the weakness OF American Su-
gar stock on cutting of prices for the refined
article The railroads have been neglected OF
even heavy, but some specialt-es have been
actively manipulated and advanced. Tobacco
has ceased to be a leader OF the market the
revelation about the dlsagreements and liqui-
d2tOn of the pool IN the stock having quoted
the streets 6pprehenS.Ons about the industTi-
ais as a class. Sugar however, took To-
baccOs place in the market. Prices for re
fined have been generally reduced both by the
American company and the opposition re-
fneries until on Friday it was understood
that granulated sugar sold at about 4Ac pei
pound which, it is believed, removes al
profit from the refining business. From 12lH
st the beginning of the week the price o.
Sugar stock fell to 112A, its course being
marked by great irresuarity and frequen
rallies of the short interest. The latter in
cidents were assisted by the apparent scarcity
of stock and the prevalence of a premium fol
borrowing it of lie to Il Of l per cent Tht
other industrials were but little affected b.
the course of Sugar. Peoples Gas was very
strong, rising from 101 to 1852 on inside
support and ntimatons that the arrange
ments settling the natural gas dispute ant
involving the purchase of an important auXi
larry company, which supplies the COMPANY
with oil, are decidedly beneficial, although al
issue Of So, 000 600 new stock Is said to be par
of the arrangement. In the outside marke
the new federal steel company stocks hay,
been the object of considerable dealing a
well sustained prices, the common beinl
about 2Sq30 The railroad share lis
has been neglected. The grangers, with tn
exception Of Rock Island, which had sunpor
on is favorable August statement was dull
Atchison preferred was something of feat
uTe, rising to "a on rumors that dividend
would commence in January. Northern Pa
cifc common, on the other hand, has beef
irregular in spite of foreign support. Ate