The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-09-15
Prizes }STSJH IN ADVANCE
BULGE IN COTTON WAS REFt,tStyrFD
BY MOST OF THE OTHER
STAPLES
IRON TRADE IS IMPROVING
More Orders Are Placed, and with
out Any Recession From the
Recently Prevailing
Figures.

NEW YORK, Sept. AR. G. Dun &
Co.'S weekly review of trade tomorrow
will say: The tropical storm that de-
vastated the gulf coast almost Wiping
out the city of Galveston and doing dam
age in other parts of the country caused
reduction in the volume of business at
the South, and railroads In the Gulf re-
gion have probably not shown their max
inum losses Of earnings at yet; but even
after such a catastrophe a recuperative
power is Shown. An added cause of hes
1tauon in business is the order for a
strike Of anthracite coal miners. Other
wise the working force has increased
this week, for operations are resuming
al steel mills, and the Miehigan-Penin
Sular car plant and the Deering Harves-
ter works have started up after seven
weeks idleness, with 5000 hands each
From many quarters of the West and
Southeast a better distribution of mer-
chandiSe Is reported in jobbing and re-
tail circles. The weather has continued
favorable for the maturing corn crop,
with cutting progressing and the crop
generally beyond danger; but damage
to cotton by the storm is still an un-
known quantity. Prices of staple COM
modities are higher for the week, hoisted
by the sharp rise in cotton, but in man
ufactured products there is little change,
though steady increases Of business at
the current level is satisfactory
Cotton closed last week at the highest
price in ten years, and a large short in
terest was awaiting. Instead there came
news Of the disaster in Texas and SEN
sational reports that million bales had
been destroyed AT the New York eX-
change trading was far in excess Of all
previous RECORDS and prices rose by
bounds. subsequently there were less ex-
aggerated reports from the South, but
the market failed to respond and mid
ding uplands advanced to IL cents.
COTTON MARKED UP.
The rise in the raw material caused
sharp advances in cotton goods In one
week standard brown sheetiRg rose from
&c to &c; wide bleached sheetings from
20c to Bic: standard brown drills from
5.6Ic to 5.S7c, and staple ginghams from
sc to o-59c. Buyers who have been delay
ing for weeks are anxious to secure lib
efal supplies, both instant and distant.
Stocks in first hands were cleaned up,
and sellers generally withdrew from the
market. Wheat rose above soc again, in
the face of receipts for the crop year
thus far of S.4l5.S56 bu larger than last
year, while exports decreased 10, PSI, S7S
bu, including flour. Reports of heavy
rains in some sections and injury to the
crop, with better inquiries by foreign
houses. explain the advance
More orders are being received at iron
mills, and prices are steady. In struc-
tural and finished material there is much
business, and activity IS becoming almost
universal in the iron trade Steel rails
are waiting for the agreement as to
prices, which is expected to be reached
next week. A reduction in keeping with
other steel products is considered GER
tain, and then the market will be on a
settled basis. Some large makers favor
$3.50 as the new basis, and believe that
nearly 2,000.0e0 tons would be ordered at
that figure. Ship building was never
more active, and a feature was a con-
tract for a coal pier 10 be used In the
export trade.
Boots and shoes begin to recover after
many weeks of idle wheels throughout
New England. Orders are coming for
ward freely, and a return to normal con-
ditions is In prospect. Last weeks ship
ments from Boston were only 81, 142 cases,
which is the smallest amount since the
decline began, but increase in purchasing
promises early gain in forwardngs. Con-
ditions are similar in the wool market
where sales last week aggregated 2,e43, :
600 lbs, against 12,056500 a year ago. Prices
do not fall as might be expected in such
dull season.
Failures for the week were 1G5 in the
United States, against 149 last year, and
80 In Canada, against 30 last year.