The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-20
low POINT PASSED
TRADE WEEK MORE HOPEFUL,
THAN ANY SINCE EARLY IN
NOVEMBER.
GREAT ACTIVITY IN IRON.
AN UPWARD IMPULSE FELT IN
EVERY BRANCH OF THE IN
DUSTRY.
GAIN IN OTHER LINES AS WELL
Condition of the Money Market
Favorable to Future Undertake
ings-Bradstreet's Views.
GAIN IN OTHER LINES AS WE'LL

NEW YORK, Feb. 19.-Dun & Co.'S
weekly review Of trade will say: A
large increase in the iron and steel
business, on account of sales covering.
eight to twelve months production OF
the largest works; a better demand for
wooden goods and slightly better for
cottons, gain which may prove last
ing in boots and shoes; slightly better
prices for wheat, cotton, wool and iron.
and a money market we'll adapted to
encourage liberal purchases and i'm
proVement in business, have rendered
the past week the most hopeful since
early in November The heavy excess
or merchandise exports over imports
IN January, exchange rates, showing
that Europe is still largely indebted to
THIS country on current account, and
the prospect that congress will adjourn
without any disturbing action, ali have
their favorable influence upon the
money market, and upon future under
takings.
In nearly every branch, the iron and
steel industry feels the upward impulse
supplied by purchases of steel rails,
said to be half million tons each from
the Illinois Steel company, and from
the Carnegie company, besides some
from other companies, in part as low
as Sl5 per ton. Nearly all the great
railroads of the country have seized
the opportunity to supply themselves
with rails for one Or two years require
ments.
Other industries are gaining also.
though less conspicuously The recent
decline and cI1hcQnIonf vic ~,
cotton have not materially affected the
manufacture which is gradually get
ting rid of its accumulated surplus.
The sales of wool have sharply declin-
ed, but owing tC the heavy transactions
early in the month. the sales for three
weeks have been sc, 900 pounds. The
larger mills have acquired full supplies
for the present and at any advance Of
prices, they appear ready to drop out
of the market. The demand for wooden
goods does not seem 10 have expanded
materially, and no QuOtable change in
prices has appeared during the week.
The heavy exports in January fol-
lowing the unprecedented excess Of
exports over imports Of merchandise in
the four previous months, are largely
due to the facts that neither the wheat
nor the cotton markets have been ma
terially controlled by speculation.
Wheat dropped to 1915 cents, but rose
10 o5.Zo cents, with no important lf9=~
pulse except the conviction that re-
cent prices have been low enough The
Atlantic exports, flour included, were
only 1,235,375 bushels for the week
against $4,000 last year, but for three
weeks have been 5,09O,471 bushels
against 5s448.429 last year. The West
-ern receipts are still small, for the week
only 1,507,8 45 bushels against 2,415, 558
last year. and for the past three
weeks only 4,699,24O bushels against
8,328,771 last year. Meanwhile, the
Western receipts of corn have been
well nigh double last years, and for
three weeks the Atlantic exports have
been 6,317, PA bushels against 3,234S99
last year. Evidently this movement is
displacing many million bushels Of
wheat in foreign consumption.
Failures for the past week have been
303 in the United States against 280
last year, and 58 in Canada against &c
last year.