Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1900-07-05
REVIEW of TRADE.
An Outline of the Situation in Com.
mercial Circles,

Weekly Review of Trade says: "The country
begins to feel some of the effects of it's new
place among the nations. Influences at
1ectlng It's business during the week
ranged all the way from boycott at St.
Louis 10 war in South Africa and from
sun spots to the relief of Peking Droughts
and sun spots have played their part be-
lore, put none can quite foresee all the re-
suits Of defending American rights in
CHINA. Political influences also tend to
color current opinion about most things in
presidential years. All these and other In
nuences work together to create a state of
uncertainty until the controversy is over
THE long effort to hold nominal prices
Tor iron at Pittsburgh has ceased. and the
associations now recognize an open market
IN winch Bessemer is offered at $40 and bill
let's at $26, with grey forge at $17. Scarcely
single transaction is reported, buyers alb
staining even more than when prices were
purely nominal, and while there are many
considerable contracts waiting for safe
basis In cost of material, the problem is a
rather difficult one. Over 30 furnaces are
said to have gone out of blast. and while
some have been stopped for repairs, many
more will be idle for a time until wage
scales for the coming year have been set
tled with labor organizations With a
proper adjustment Of supplies and prices
to the actual demand heavy business is
possible. but delay at this season may at
feet prosperity for some time to come.
Neither official nor unofficial accounts
have removed doubts about the wheat crop,
and IT 1T proves as low as one estimate, $780,
10000 bushels, the extent to which it may
now be displaced in European consumption
by corn will be seriously tested. Exports
of wheat and corn were 429, O0O 900 bushels in
1898. and 400O00,000 in 1899, and have been
about 100, 100000 bushels and 21O,0OO0OO bush
els OF corn in the crop year 1900, but never
as large before, for in 1892, when 225, 000 600
bushels of wheat went abroad there were
only, 75,OOO,00O bushels of corn But all re-
cent estimates of production have been so
tar d1strusted, and it is scarcely good sense
to base grave apprehensions on any so
early in date, and the census this year will
be awaited with especial interest, because
1t will help to show how unworthy of re-
lance some estimates have been.
Failures for the week have been POI in
the United States, against ISL last year, and
q in Canada, against % last year."
Bradstreet's says: "Distributive trade is
dull, seasonably so in most instances, and
prices of manufactured products are gen
orally weak, but exceptions to the former
are found where crop conditions are excep.
tionally promising, and in the case OF
prices where the readjusting movement
has been OVerdOne on the down side. The
upward rush of wheat prices eliminated
at the close of last week, and the reactions
and irregularity since, mainly due to heavy
realizing. would point to the movement
having been temporarily al least overdone
Reports Of rain in the northwest. Thought
is claimed too late to help the crop in Min.
nesota and the two Dakotas have had some
reassuring effect, and second thought ap.
parently inclines bears to the belief that
the late advance discounted much of the
expected, or predicted. shortage in the
yield of the worlds crop. Advices from the
northwest are of little more than half a
crop of wheat, but estimates as to the out.
turn in bushels vary accordingly as the
government report of 10000, 900 bushels o.
the commercial estimate of 200. 1000, 00Obu
els yield last2year In the three states are
used as a basis.
"a short lived scare on the reports OF
dry weather in the corn belt sympathy
with the early advance in wheat and. wha.
is more important, apparent Increased
popularity of corn on home and export ac-
count was responsible for this cereal reach
ing the highest point paid for a year past
Oats and other farm crops also sympa-
thized. as did most hog products"