The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-27
BREAKING OF BONDS
FOLLOWED BY AN ENORMOUS I'M
CREASE In THE DEMAND
FOR IRON.
THOUSANDS SET AT WORK
WITH LESS RAPIDITY, BUT STEAD,
lily, OTHER INDUSTRIES ARE
GROWING.
EARLY EXPENDITURE OF MILLIONS
Assured by the Total of Orders
Booked by Branches of the
Steel Industry.
SET AT WORK
EARLY EXPENDITURE OF MIIIJoNs

NEW YORK, Feb. 26-Dun & Cor
weekly review Of trade tomorrow will
say: Genuine Improvement in bust.
ness does not come with a rush like
the breaking of a great dam. Tho
growth for some weeks past has been
more encouraging, because in nearly
all lines 1t has been gradual and mod
crate. The rupture of the steel rail
and other combinations in the iron
business has brought out vast guam
tlty Of trade which had been held back
and has set many thousand men at
work, While the slow but steady gain in
other industries has given employment
to many thousands more, but the full
effects will not appear until increased
purchases by all these swell the dis.
tribution Of goods. Meanwhile, it ID
substantial ground for confidence that
months which were regarded by many
In the money market with serious app
prehension, have passed without dis
turbance and with steady gain in the
position Of the country and of the
treasury. The breaking of bonds
which have restricted many branches
of the iron industry, has been followed
by an enormous increase In demand
and In orders booked, and by tbs
starting of many works. Nothing Is
yet settled about the price of lake ore
for the coming season, but some ex.
pect for Mesaba the price of 1896
while others expect a lower price.
With less rapidity, but yet steadily,
other industries are gaining. Although
brown courtyard sheetings are an
eighth lower, and print cloths a. six
teenth lower, it is found that several
cotton mills have started, not covered
by the restriction as to print cloth
works which is carried out Increasing
demand has also started quite a NUM-
Der Of wooden mills, including many
making dress goods and hosiery The
demand for mems woolens is also some-
what better, especially for heavy
weights, and there are improving sales
Of better qualities. Sales Of wool have
been 38,317,2 200 pounds in four weeks,
against 22,366,800 in the largest pre-
vious year, 1892, and the great estab+
lishments are believed to have sup
piled their possible wants for SONS
months ahead, a single purchase Of
100000 pounds South American cross
bred being the most important noted
this week.
Wheat enjoyed a brief rise, then
dropped over 3 cents, and closed 25a
cents lower for the week. While West
ern receipts are 40 per cent smaller
than last year, for the past four weeks.
Atlantic exports, flour included, in the
same weeks, have been 6,340,415 BUSH
els, against 7,043,577 last year, and
the exports of corn have been g. 35, 552
bushels, against 4,195, 282 last year.
The increase in corn more than makes
up in foreign consumption for the in
crease in wheat. Cotton rose 3-16 Of
cent, though without material
change in Improvement Better re-
ports of manufacturing in England
and starting Of some mills here give
hope of better demand. .-:
Failures for the week have been 2S6
in the United States, against 2?S last
year, and fifty in Canada, against fife
ty-eight last year.