The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-02-18
TRADE is EXPANDING
TO FORMATION OF MANY
TRUSTS
DULLNESS MAY COME LATER
IL. G. Dun Il Co.'s Summing Up of the
Business Situation Is Favorable,
Notwithstanding Recent Bad
Weather-Week's Output of Iron
Again Large-Rise In Grain Not
Due to Fictitious Demand.

Due to Fictitious Demand
NEW YORK. Feb. 17.-R. C. Dun &
Co.'S weekly review of trade will say
tomorrow:
Beyond question business is expend-
ing and in many branches it is larger,
Notwithstanding speculative cOmbina-
lions which tend to reduce it. All
monopolies or attempted mOnopolies,
stimulate business while they are COM
ing, but tend to stifie it after they come,
and the throng of combinations ana
trusts which have been formed or pro-
posed have given temporary but very
questionable impetus to trade. But be-
yond the influence of these there is
genuine and substantial enlargement
or business due to the uneXampled
prosperity of a growing population.
The weeks output of pig iron Feb.
was 1883 tons, against 243,516 Jan.
!. and 232, 52S Dec. L. The annual week.
ly production thus indicated was about
l,OO0 tons greater in January than in
December and the unsold stocks were
reduced 1857 tons In January, so that
the apparent consumption in manufac-
lures was in January 1,11O,079 tons
against 109S, 176 in December The
stoppage of several furnaces for neces-
Sary repairs at a time when the de-
mand Is most pressing, caused some
fear of famine. although quite a num-
Der Of other furnaces have started
since Feb. 1, or are about to start. Pig
iron has advanced, but the largest con-
sumption ever recorded in any month
Is In part due to the hasty purchases
Of products about to be controlled or
advanced in price by a combination.
There are so many of these in the
iron and steel industry that the present
market does not clearly Indicate the
magnitude of demand, and disappoint-
ment in some branches is not improba-
BILE. But the rise Of 81 in steel rails,
with the entire capacity Of all works
engaged until after July 1. is not I'M
natural, nor the strength in plates for
which the legitimate demand Is beyond
all precedent, and the same is true OF
bars. the quantity required for cars,
railway and agricultural implement
works being enormous. In pipe the as
ISOLATION lifted prices per cent. with
very heavy order from Indiana gas
works as does the expected combina-
ton in sheets.
mo fictitious demand has caused the
rise in grain, for the exports continue
SO heavy in wheat and corn that the
advance of $40 in wheat in abundant
ly justified. and the rise Of &c in corn
seems scarcely enough for the occa-
sion When it is remembered that the
exports Of corn thus far this year are
the largest ever known. there Is room
for establishment at the continued for
eign demand. That it persists in spite
of the strong advance in price here
since Sept. 1, is most encouraging. 1t
is obviously impossible to Judge how
far it may go.
Nor does the foreign demand for
cotton abate. although the price has
again been raised three sixteenths dur
ing the past week. The exports have
decreased some. but the controlling
fact is that a remarkable shrinkage IN
receipts from plantations appears to
Indicate a smaller yield than has hith-
erto been expected. 1t should be re-
membered that the receipts have been
greatly hindered of late by bad wealth
er, and when it passes away they are
likely to look large as they now look
small, but snow in New Orleans also
means failure to save and market some
cotton which might otherwise be saw
ed The heavy demand for goods helps
to advance prices just now, although
no assurance can be given that the
declining price will not presently check
that demand.
There is much more inquiry for wool
and the manufacturers have larger
demand for heavyweight goods. but
they maintain that they cannot pay
| prices now demanded for wool, and
most of the purchases made appear to
have been at some concessions. Sales
at the three chief markets were $780,,
200 pounds, which Is about the weekly
consumption with Eastern mills well
employed.
"The minor metals have been running
| weaker with a reaction in London. al
| though the industries have shown no
abatement Of demand in this country,
| and the rise in prices here is largely
| due to increased consumption.
Failures for the week have been 17S
| in the United States, against 279 last
| year. and Is in Canada. against IS last
| wear"