The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-02-23
CATCHING Up IN THE EAST
RELATIVE BUSINESS DULLNESS IN
THAT SECTION is NOW
DISAPPEARING
WOOL TRADE IS IMPROVING
Feeling Tint Hard-Pan Has Been
Reached Responsible for the Bet
terment-Marl<et for Finished
COttons Not So Good.

NEW YORK, Feb. PR. G. Dun &
Co.'S weekly review of trade tomorrow
will say:
Business in the East, and particularly
along the North Atlantic coast, shas been
catching up with the rest of the count
little this week, SO that in the few
lines where complaint has been heard L.
calIy OF late. the tone is better. This
comes from the working off of retail
stocks which owners feared would have
to be carried over until next season.
In builders hardware the buying has
been notably better and the distribution
in the grocery jobbing trade has been
giving a considerable stimulus. Even
the laggard dry goods market has shown
a good measure of Improvement, though
IN cotton goods there is still much to be
desired, for the larger buying has not
brought any Improvement in the general
tone and in some directions the market
Is slower than a week ago. From etle
interior adViceS are almost uniformly
favorable. with a very heavy movement
of general merchandise and farm imple-
ments over the Northwestern railroads.
WOOL MORE ACTIVE.
Activity grows more pronounced in
wool, sales at the three chief Eastern
markets aggregating S,52S 500 lbs for the
last week. against G. 972 eco lbs in the pre-
Vious week, and 2.SS3, 400 lbs a month ago
Although transactions are heavier than
at any time III over year, the situation
Is far from satisfactory, as each week
brings a lower level of prices. There is
little evidence of a better demand for
goods, and while some holders of wool
are sacrificing stock in order to make
room for the new clip, the actual supply
Is not materially decreasing.
Purchases are larger because OF the
feellng that prices must be near the bot
tom, and this statement is deepened by
the statement that the prices are now'
down near the point when the great adj
vance began in 1899. 1t is above that
point by PC, although a few grades were
fearer the price on May 1, 1899, than the
general average. Unless manufacture IS
receive larger orders and reduce exces-
sive stocks before supplies are aug
nented by another clip, it is difficult to
see why prices should advance even If
they are at the level of two years ago.
COTTON GOODS DEPRESSED.
The other textile industry is not in
much better condition. Instead of being
able to advance prices of cotton goods
in proportion to the high quotations re-
Gently made for raw cotton, the mills are
meeting with little demand and even at
reduction of &c for prints, there is no
activity. Many mills have already re.
stricted operations and more will stop
terial was advanced to the highest price
In ten years, it could not defy the law
or supply, demand and prices, which
eventually restores an equilibrium
On Tuesday a decline of $1375 a bale
from the top point had occurred making
1t possible to manufacture at a profit
cut this does not help mills which have
goods on hand made from cotton pIr-
chased before the fall to the lowest price
IN eight months. Footwear Is firmly held
at unchanged prices, with good buying
of spring lines in the Boston market
western trade is less active and some
orders have been countermanded Lea tn
er Is firmer, with exceptionally large
sales.
IRONMAsTERs BUY.
No diminution appears in the movement
MOD mote
rushed with orders and new contracts
freely bought and prices tend upward
Billets and other partially manufactured
forms are advancing and finished goods
would command higher prices if imrne-
date delivery could be Secured Struc-
tural shapes are still a feature with
large operations pending III bridges and
track elevation. More coke ovens are
added to the active list, making the out
put much heavier than at any recent
date. Lumber and materials are in good
demand owing to extensive preparations
for spring building. and at Buffalo there
Is special activity on account of hotels
and other work in connection with the
exposition.
Grain markets are devoid of wide f1uc-
tGations, although many reports are cir
culated regarding the condition of win
ter wheat. 1t is too early to secure def
mite information and traders are not in
fuenced by rumors. News from India
and Australia indicates a larger crop
than last years.
Failures for the week were 253 in the
United States, against 201 last year, ami
80 in Canada. against 80 last year.