The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-02
TRADE BEARS A
HOPEFUL OUTLOOK
Next Six Months Promise to
Be More Satisfactory Than
Previous Half Year

NEW YORK, July 1.-Bradstreet,s
tomorrow will say: Midsummer quiet
rtiles general trade. but good REPORTS
SiVe nope Ior much more satisfactory
i nan year than has just closed. AS vet
Tue Improvement is still largely a mat
.er OF tone and of better feeling and
Is apparently content to move SLOWLY
uhth pending crop prospects become
certainties. o-''e
rleililinary induces of past opera
'lolis conhrm earlier rather pessimstic
reporls' Bank clearings for six months
VIII Idll at least IA per cent behind
year ago, most of the decline beine at
New York, because outside of that citv
the decrease will not much exceed 4
per cent. Railway earnings in J,Iro
LOOK turn for the better and gross
receipts will probably show a gain of
per cent for the month, though de-
creaslng per cent for six months
The fiscal year as a whole owing tn
gains last year, will show an increase
Oh per cent in gross. Net earnings
however, will probably show a slight
increase from the preceding fiscal wear
Ihere are fewer large failures indicat
ing conservative regulation of credits
py business men generally in the first
nan year. Reports of distribution vary
IN different sections and range from (
10 10 per cent below last year. accord
ing as different lines of distribution are
considered
THESE conditions, however, all relate
10 the past, and the future is tradition
any hopetul. Next week will see the
opening of spring lines of wooden goods
ana purchases of raw material both at
the West and the East are increasing.
SLACK demand and overproduction in
some lines have spurred American
manufacturers to seek foreign outlet
Detailed foreign trade figures for Nav
snow that iron and steel makers have
found 1t possible to export more lib
orally. and manufactures generally are
moving abroad so much better as to
indicate that the present year will see
the largest exports of manufactured
goods in the country's history.
Slight Improvement in Iron
In the iron trade the tone is rather
better, though Bessemer iron is easier
production is being curtailed. this
movement being favored by climatic
conditions, and there is a firmer tone
to Southern iron in the West, the result
OF railway rates not being reduced az
expected Finished products are quiet,
but some sales of rails at special
prices are reported. The soft coal in
duStry has been and is a conspicuous
sufferer by the quiet of general indus
try. Anthracite coal for domestic uses
is active, but steam grades are quiet
Sheet shipments from Eastern points
show a large increase over last week.
but this is regarded as a temporary
squirt
Leather and hides are held steadily.
In the cotton goods industry the COM
plant is still of dull trade and of high
prices of raw materials discouraging
future operations, but change for the
better is easily visible Dry goods
jobbers report that distributive de-
mand has answered disappointingly
the reductions shown in many kinds OF
cotton goods during the past two
weeks.
Business failures in the United
States for the week ended June 80
number 204, against 215 last week. 162
in the like week in 1903, 1873 in 1902,
las in 1901 and 146 in 1900. In Cana
da failures for the week number 20,
as against % last week and Z in this
week a year ago.
Wheat, including flour. exports for
the week ending June 80, aggregate
1,127,SS5 bushels, against 1,271,43 last
week, 2,966,6S2 this week last year,
3211 ,215 in 1902 and 3,7S7,639 in 1901.
From July 1, 1903, to date they aggre-
gate 133,855,324 bushels, against 223,-
166,373 last season, 247, 354,473 in 1902,
and 214,947,501 in 1901. Corn exports
for the week aggregate 356,0S7 bushels,
against 387, 1902 last week, 1,420,172
year ago, 127,969 in 1902 and 2,240,933
in 1901. From July 1, 1908, to date
they aggregate 51,555,062 bushels,
against 67,005,7S6 last season, 1885,
934 in 1902 and 173,712,049 in 1901