The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-01-01
TRADE Of THE Old YEAR
WHAT II. c. DUN's REVIEW HAS TO
SAY OF THE TWELVE MONTHS
BUSINESS
THE BAROMETER OF TRADE
Iron and steel Record shows "a Re-
nRri1nbly Heavy Years Output,
With Conditions Fairly
Prosperous.

NEW YORK, Dec. 31.-Dun's review i'll
its summary, reviewing TIE business of
the wear just closed viii say regarding
the leading markets: Conditions III iron
and ~stesl during 1900 were much more
sound than in the preceding year, when
speculation was rife and prices inflated
far beyond The bounds of reason.
Statements of the weekly capacity of
furnaces, in blast show that the highest
point on record was reached February 1,
While there was little diminution during
The next lew, months. But with the col
lapse of speculation during the spring.
Y and realization of the fact that opera
lions had been Gverdone, there came a
steady reduction in output. From 2c6
furnaces in blast on February 1 there
followed a continual shutting down until
but POI were in operation on November
. and the weekly production decreased
2,7l0 tons. Even at this rapid rate of
declining output stock accumulated with
startling rapidity and on October the
top was reached at 670,531 tons. Business
conditions were satisfactory and demand
expanded while exports of finished prod
ucts grew very heavy when prices reach
ed a level that made competition possible
with British and German producers In
two months ending Dec. 1, furnace
stocks Of pig iron decreased 113, S95 tons
and the tone was so much improved that
Manufa ctured articles have moved
along on similar lines. Quotations of
iron and steel products at the beginning of
the year were little below the level pre-
vailing thirteen years previous and that
fall was almost uninterrupted until Oc-
tober when the average was but SIS. 6S per
cent of the figure prevailing Jan. l. 1887.
1t Is difficult to select any one branch
of this industry as being pushed harder
than another. Railway supplies of all
kinds have sold very freely and the mar
ket is flooded with urgent orders for
freight cars. Structural material parti-
. cularly for bridges and ships has been
in much better demand than supply
Street rails were reduced from last
years price of $35 to $26 but it was an
open secret that the former figure had
only been nominal for months prior to
the official change in September. Con-
tracts for 600 tons, deliverable during
1901 have been placed at $26 and numer-
Gus export orders also suggest the posi-
bility that the list will be maintained
Tin bcurded up from 2514 cents at the
opening to 50 cents in July, and then
gradually lest all the gain But during
1.-The last week there was recovery 10
IA cents. Copper has done nothing
startling, variations remaining within
the range of q cents. Opening at 1615
there were sales as low as 1914 cents, and
the close was at the top, at II cents
There has been very active and do
nestle production pushed. One authority
places the American yield well in ad-
vance Of any other country. Lead fell
Erom $40 at the start to 1913 and re-
covered TO S4S7, where it has been main
tanned by the smelling company for
many months.
The year 1900 opened with favorable
conditions prevailing in nearly every
branch of the dry goods trade. The home
demand continued good for the first
three months and then fell away until
by June the market had lapsed into
pronounced dullness. and from a steady
upward course in prices began gradually
10 decline again. The arrest of buying
was remarkable. In wooden goods stocks
began 10 accumulate again and their
course up to the close of the year has
shown pronounced weakness In both
mems wear fabrics and dress goods with
the result that the gain in prices made
last year, and in the early part of this.
has been lost in many directions, and
where any retained at all is of limited
extent.
A Sudden demand from China for heavy
brown cottons in May, the first purchase
made for that market in several. months,
unfortunately was checked by the out
break of the Boxer rising, and since then
there has been an entire suspension OF
buylng Tor that country. In September
another stimulus was given to cotton
goods BY the rapid advance in raw ma,
Ierial,7whfch followed the Galveston dis
aster and short crop predictions Prices
resumed their upward course and the
market ruled strong again until the end
OF october, when there was another lull
in the demand. Stocks, however, had
been well. cleaned up as a rule, and al
though some Of the staple lines have
fallen off slightly. fairly steady tone
has prevailed since
The prosperous condition of the cotton
goods trade last year and the early part
of this has had marked effect upon the
cotton Industry in the south, raviving the
boom in mill building which previous de-
preston had checked. A number of new
mills have been added and many more
are in course of erection It is proba Bile
uhat when the years statistics are COM
piled thew will show the addition of
nearly 1,GO0.000 spindles to the productive
callacity of the south.
After advancing from 1901 cents as the
average of 100 grades Of wool renorted nv,
Coates ard Brothers on NAV TO 81 N j.,
Lee 1889 1t was only natural thof tbe
year lSt0 should witness severe reaction
ana return to a more nominal level. THE
oeehne was gradual and the year closed
ABOUT Y per cent below the ton POINT
touched u months previous
The closing year of the century was a
reiliarka bly, satisfactory one for farmers
ana planters. notwithstanding tha fact
mat some sections harvested smaller
trops than IN preceding years While
i'e oouth produced less cotton than in
lie TWO previous record breaking sea-
sons prices were the highest in ten Years
anu me net profits made on plantations
were enormous, Spring wheat states
iost much grain but Kansas and other
large Winte~-wheat growers made hIa
crops and the average price was high
In fact the cereals were all abnormallv
loss in exports so thai Russia1 no-. q.
were able to Secure much foreign trade
that had belonged to American pro
1ncers. Corn was put up TO within a
traction OF SO cents and speculative
manipuiation forced the chlcsgo price
stiil higher These operations had NAT
urady deioterious effect on expectation
and surplus countries reaped much of
the benefit from excessively inflated do
nestle markets
REAL ESTATE TRANSFERS
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