The Saint Paul globe., 1899-07-22
NO HALT In TRADE
R. G. DUN & co. REPORT BUSINESS
OUTLOOK STILL SHOWING
IMPROVEMENT
FOREIGN BUGABoo REMOVED

Strikes Seem to Have No Bad Effect
Upon Business Save From Local
StandpOints-Gener Evidences
of Prosperity Are as Great as at
Last RepOrt-Fear Of Deficient
Crops Dissipated.
NEW YORK, July 2.-Dun & Co.'S
weekly review of trade will say: Optimism
is always popular, but more than half the
time dangerous. Seven years of halting
and reaction historically follow three of
rapid progress. But the three of progress
have not yet passed and the most eau
tious search discovers no sign of halting.
Foreign anxieties have been real, but
seem to be passing, and Europe has be-
gun paying literally for more food with
out expectation that securities can be sent
in settlement. The extensive labor strikes
have vanished, and the local do not af
feet national business. Fears of new
and powerful corporations lessen as it is
found that they are controlled by the
same laws which govern the small COM
panies. Above all, the general evidences
of prosperity continue convincing. Fail
ures are the smallest ever known for the
season, railroad earnings the largest, and
solvent payments through clearing houses
in July have been 4S6 per cent larger
than last year and 62.3 per cent larger
than i'll 1892. the best of previous years.
Official returns of the most wonderful
year in the nations commerce show a
decrease of 49,, 900, 900 in value of the great
staples exported, largely owing to prices,
but an increase of about $4,000 in other
exports, mostly manufactures.
Pig iron has not advanced this week,
but mainly finished products, steel rails to
$50 at Pittsburg, billets $34, sheet bars to
$3.50, sheets to cents at Pittsburg and
cut and wire nails both Sc per ton. The
American Tin Plate company settled with
it's hands by granting IS per cent more
wages, and raised the price of plates so
cents per box. Still demands do not abate
though works have to refuse many Or
ders. In plates, one large order for ship
ment to the Clyde was received; in bars,
less urgency of demand appears at the
east but in sheet works are about filled
for the year, and in structural shapes,
besides $500 tons for bridges and 1,2O0 for
buildings at Chicago, proposal is re-
ported for 5000 tons to build a palace for
the Mikado of Japan.
Coke is unchanged in price, and likely
to break the record for production this
month. Tin is lifted to 2S.9 cents by wild
speculation at London, copper is firm at
1S15c, and lead is said to be sold by the
smelling company below $3.50, the quoted
price
Wool is still advancing, Coates Broth
ers' circular of the 18th showing a rise of
219 cents since May Is, speculation being
particularly active in fine wool, because
it is rising abroad, though in less demand
for manufacture here than combing and
medium grades. At the three markets
35,S56 100 pounds have been sold in three
weeks. against "a, 124, 700 IL the same weeks
of 1897, before the present tariff was en-
acted. Manufacturers do not appear to
be buying largely, though the demand
for goods is better, and has caused an
advance in Clays and some other kinds
Cotton goods are unchanged but fairly
strong.
Leather is in good demand and slightly
higher and hides at Chicago rise slightly
with limited receipts.
Failures for the week have been lis in
the United States, against 2O7 last year
and twenty-three in Canada against sew
enteen last year.