The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-02-25
TRADE OUTLOOK GOOD
II G. DUN & CO.'S WEEKLY REVIEW
SAYS THE SITUATION Is
WITHOUT PRECEDENT
FAILURES REMARKABLY FEW
I'm Every Respect Favorable
Iron and Steel Industries SO
business Is Declined Save at an
Advance.

NEW YORK. Feb. PAR. G.. Dun &
Co.'S weekly review Of trade will say
tomorrow:
The situation is without precedent.
Business has never been better. on the
whole. and in some great industries the
gain is astonishing. Exports surpass
last years as much as imports, though
the excess over imports then was
heavy. Failures are smaller than last
year. and smaller than in either of six
years past. Stocks are stronger, the
| average for the active railway securi-
ties being little higher. and for trusts
| much more. owing to the extraordinary
advance of 48A in Tobacco.
Payments through exchanges show a
greater volume of business than ever
before at this season, and nearly one
half larger than in the best Of previous
years. The Outgo of breadstuffs and
cotton continue But there are many
who fear that such prosperity cannot
last.
Popular impressions have to be reck-
oned with because they control events
Yet at every point of danger, except
one, the signs are in every respect
favorable. The upward rush Of 1850
per cent in the prices of pig iron since
Jan. and 17.6 per cent in prices Of iron
and steel products does indeed raise
question whether exports of such
products may not be temporarily
checked. but if they could be entirely
stopped, as they are not. the balance
due this country would still be large.
The crush Of demand for finished
products at a time when nearly all the
works are crowded by orders covering
I production until July 1. or later. causes
many to refuse to contract beyond that
date except at higher prices, and rise
under such circumstances may prove
the one thing needful to sober buyers
and to bring into the list Of producers
other establishments heretofore idle.
While fairly large capacity of pro-
ductior is still in reserve. the demand
now pressing for cars, vessels. bridges,
buildings and pipes Is partly to an
ticipate an expected rise in prices.
The best sign is that the great pro-
ducers appear to be anxious to main
tain their hold on foreign markets, al
though just now unable to take orders
for future delivery.
1t is a sign Of similar import that the
| boot and shoe manufacturers just at
this time seek better markets by a
| somewhat general reduction of 21a cents
in prices, although leather avera ges
slightly higher. The shipments from
the East have been smaller than in
four of the past six years in quantity,
dlu OIlly 10, 100 cases larger LUdu Ill
1892, and having gained nothing dur
ing all these years in proportion to pop
ulation, the Eastern manufacturer nat
urally seeks more business. The in
crease in the price of grain leather has
not hindered much, while a few sales
Of sole leather are not necessarily at
quoted prices. A number of factories
have been out Of work, and sales at
a reduction do not cover all grades Of
goods.
Nobody can judge what the clothiers
may buy as yet, and the wooden manu-
facturers have very uncertain mar
ket ahead, but judge that there was a
heavy demand for goods, and many
large mills are looking for chances in
the wool markets. Little weakness is
there seen, except for fleece and in
quarter and three-eighths blood and
comblngs wool prices are generally
strong, with scarcity of supply, but
sales for three weeks have been Is, 050,-
200 pounds, against "a, 753, 500 two years
ago, with free wool. and 1905, 200
pounds in 1892
The demand for cotton goods in
creases, although there is some hesita-
ton regarding the price of material.
The urgent demand for goods of all
qualities, stiffening the price of staples
as we'll as of fancy goods, gives the
highest confidence to dealers. Cotton
has sold an eighth lower, although the
material decrease in receipts and large
exports still give hope of an advance.
Failure for the week have been 191 in
the United States, against 233 last
year. and 40 in Canada, against 80 last
year.