The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-06-09
TRADE SHOWS SOME GAINS
as YET OF THE BETWEEN-SEA-
SONS CHARACTER, HOW
EVER
Some RAIN IN NORTHWEST
Considered Not Enough TO Render
the Situation Free of Danger
Probable Eject of Lower
Prices of Iron.

NEW YORK, June S.-Bradstreets to-
morrow will say:
New business at wholesale is of a
betWeen-seasOn's character, but warmer
weather has offered a stimulus to rail
business in some sections. Chief activity
and most attention is, however, still con-
centrated on the price situation, and ef-
forts to readjust quotations to meet cur
Eent demand and supply conditions go
forward steadily. The only exception to
The general downward trend of prices is
that furnished in leading farm products,
notably cereals; but here the moving
cause is hardly a favorable one, being
the result Of less satisfactory crop re-
ports, particularly from the Northwest,
and it is TO be noted that advice from
the Central West, where the winter
wheat yield promises to be very short,
are also less favorable.
The Northwest has had some rains
but it is claimed not enough to render the
situation free of danger. Corn crop con-
ditions remain favorable, as likewise do
those of oats, but these grains and hog
products have sympathized in the up
ward movement of wheat, which has at
last broken from its lethargy, and is
again attracting speculative trade. Crop
advlces, IL might be added, are not flat
tering. The German rye crop promises to
be very short; the same reports come
regarding French wheat, and English
crop advices are not of the best.
If, as has been claimed lower prices
for iron favor an increased consumption,
current developments in this trade may
be classed as favorable, because conces-
sions are being steadily made in nearly
every branch of trade. The price of Bes-
semer pig and steel billets for the last
half of 1900 has been agreed upon, the
result being drop of Is per cent in pig
iron and 20 per cent in billets from the
old nominal quotations, which, however
have not been closely adhered to of late
Southern iron advices are of shading in
quotations, in sympathy with similar &C
ton taken at Plttsburg, Chicago and
other iron markets. Prices at Birming-
ham are on parity with those of Eu-
rope, freight charges considered here, as
in the North, the possibility of labor
trouble inTudes itself.
Cotton is slightly weaker on reports of
nedFlly increased acreage, but the crop is
late, and advices this week are Of an ex-
cess of rain in the Mississippi valley and
IeXas. Cotton goods are dull Wool is
dun, and, on the whole slightly weaker
al Eastern markets. Mems wear goods
recorders are of fair yoIume while the
mills engaged on Women's wear goods
are fairly well employed. The outlook
daVorS lower prices for the new spring
weights.
Little that is new comes from the shoe
business. Leather Is dull and rather
weak. Price shading is reported the rule
in lumber, and this. coupled with low
water in the Northwest, will, 1t is hoped,
restrict new production.
Surplus visible wheat supplies are de-
creasing rapidly, lending interest to cur
rent unfavorable crop reports. The de-
crease in American stocks, as reported to
Bradstreets In May, was 13,330000 bu,
against a falling off of 9,O33,O00 bu in
April Supplies in Europe, Australia and
Argentina also decreased though to a
a, much less marked extent, and the result
is an aggregate world supply on June l
of 143,5SS00O bu, supply 1865 900 bu less
than on May l. and comparing with a de-
crease in May a year ago of less than a
million bu, and two years ago with an in
crease Of nearly 2,00009 bu. The decrease
in American and European supplies is
the largest reported in any month since
1898, and IS tie largest reported in May
since 1895.
Business failures for the week number
1S4, as compared with 135 last week. 178
in this week a year ago, 221 in 1898, 256 in
1897, and 234 in 1886. There were Sc fail
ures in Canada in May, involving 1896, $50
Of liabilities. an increase of ID per cent
in number and of IS per cent in liabili-
ties over the same month a year ago"