The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-10-27
UNDERI()NE IS Very FIRM
THOUGH GENERAL TRADE is DIS
POSED TO WAIT TILL AFTER
ELECTION
BUSINESS IN IRON IS GOOD
And Marked Confidence in Early
Trade Improvement Is Shown
by the Firmness of Prices
for Raw Materials.

NEW YORK. Oct. 26-R. G Dun &
Co.'S weekly review of trade tomorrow
will say:
The elections mean a great deal to all
business, and although confidence in the
future is seen on every hand, it is but
natural that men do not care totake
unnecessary chances and therefore delay
new engagements as far as possible until
after the ballots are counted. But con-
tracts for steel rails for the season thus
FAR are within $4,000 tons of last years
heavy bookings and the confidence in an
ultimate marked Improvement is so
strong that all raw materials are firm
and without any speculative activity to
stimulate them. The agitation for an
advance in billets, though a small one, is
an indication of what the iron ami steel
markets expect in the next six months
and in the great industries sellers of raw
material could easily make heavy con-
tracts if they cared to attach political
provisions to their agreements. How
ever, unreasonable fears may be, it is
likely to be better for business in the
long run that conservative ideas for the
present are entertained The weather
over great part of the country has been
favorable for agricultural operations
which are progressing we'll and in the
East the unreasonable temperature has
retarded general trade compare lively lit
yet this season.
IRON TRADE ACTIVE.
Conditions in the iron and steel market
steadily improve; orders gradually swell
in volume and buyers make less effort to
secure concessions. In most cases quo,
tations are not altered, but there is an
advance to $40 at Philadelphia for bill
lets owing to the better business in rails.
Pig iron moves freely, especially at Chi
cago, where manufacturers have con-
tracted heavily for finished stuff in ex-
cess of raw material on hand. Cast iron
pipe is in urgent demand, and new plans
for shipbuifding will take plates. Bridge
builders are buying structural forms
heavily. Makers of rails and other pro-
ducts of iron have been accused of quot
ing better terms to foreign than to do
nestle buyers. If this is done it would
seem to be the manufacturers affair
rather than the newspapers. Miner
metals are quiet except for further weak
ness in tin. Silver has reached the high
est price in four years.
Cotton showed little recuperative power
after the last weeks decline and closed
lower The loss IN price is $3.50 a bale
since Oct 9, and exporters are still hold
ing off.
WHEAT LOWER.
Wheat also continued its downward
course, owing to the good news here and
abroad, but an encouraging feature was
the accelerated foreign buying as quota
lions declined. Atlantic exports for the
week were 1885, d2S bushels against 2,25S,-
625 Il year ago, and Pacific shipments,
SlS,C43 bu. against 658,5S3 last year. Corn
is slightly weaker, while pork products
have fallen sharply. Most other provis-
ions are heavy, but linseed oil rose
sharply to 75c.
The better tone of the boot and shoe
market was sufficient explanation for the
advance III materials New England
shops are buster than for many months
before, but thus far manufactured goods
have not advanced with materials Sales
of wool at the TIN &c chief Eastern mar
kets continue to increase, exceeding
100000 pounds last week. Prices are not
altered and bids slightly below the mar
ket are refused. Cotton goods move
rather more freely as the price comes
nearer parity with raw material, but
wide sheetings al dull at the advance to
&c.
Failures for the week were 205 in the
United States. against $50 last year, and
Is in Canada against % last year.