The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1897-08-06
THE BUSINESS OUTLOOK,

ln reviewing Gne nrSt week OF buS1-
ness after the new tariff law went in
to operation. R. G.. Dun & Co. have
this to say:
sDispatches from almost every
Northern city of Importance report
without exception improvement in
business, and from Detroit to Seattle
and Portland splendid crop prospects.
The task OF adjusting the business
and industries of the country to con-
ditions created by new law has pro-
crossed with gratifying rapidity and
ease. Even the increasing strength
of the striking coal miners probably
forwards the adoption of the uni
formity plan, which promises to re-
move most of the causes of such
struggles. Some confusion is caused
by events seemingly contradictory by
the closing OF large cotton mills when
many other works are starting and a
decline in some prices when others
are advancing, but the balance is un-
mistakably on the right side.
1.-THE most important event since
the passage of the new tariff, which
was generally anticipated week ago,
has been the marked increase in for
eign demand and advance in price for
wheat, the latter rising Al cents dur
ing the week. Western receipts for
the first time exceeded last years, and
western railways are being besieged
for cars.
THE fact that corn exports exceed
last years, although the price has ad-
Vanced to 32.S7 cents, is further proof
thaG foreign demands are substantial.
With crop news still favorable, pro-
ducers may probably realize something
like SSO,O00,OO0 more than last year
on wheat, which means great diff
ference in purchases by agricultural
states. Corn also advanced 1.25 cents,
and cotton a sixteenth, though re-
ports as to yield are good.
THE industrial sky is partly clouded
by coal and iron difficulties and by the
closing of some large cotton mills.
Having run for months far ahead Of
consuming demand on cotton bought
at comparatively high prices, the
mills see ahead large crop and cheap
cotton, and it is but the rational way
to halt production, clear off accumu-
lated stocks at the season when vaca-
tions are common, and begin the new
year on its own basis.
"The wooden manufacture answers
wholesomely and moderately to the
new tariff conditions, and while the
opening of light weights below about
81 in cost has met very encouraging
demand, the advance in prices asked
is not large. With very heavy stocks
of free wool on hand, manufacturers
are able, and in the presence Of large
stocks of foreign goods are obliged, to
engage for the next season without
advancing prices in proportion to the
rise in wool, and large contracts of
that nature have already been made"
And Dun's view of the situation is
fully confirmed by that Of Henry
Clews who looks upon matters as NOV
ing all right. Operations for the first
week after the new tariff law went in
to effect were much as expected, as
the law had been practically expected
for a week. All the agricultural re-
ports for the week have been good.
The great demand for our large wheat
crop abroad, will maintain good prices,
and it will have an important bearing
upon our foreign trade. This large
export of wheat in addi-
tion to other commodities will, Mr..
Clews thinks, cause large import of
gold, The large imports Of goods
made previous to the Dingley tariff
law taking effect, having mostly been
paid for, and will not enter as factor
in the foreign trade this fall. The
large amount of gold that will come
over, he says, will still further serve
TO strengthen confidence in CONNER
cial and financial circles, that will
carry us into a condition of great ma
tional prosperity.