The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-03-02
GENERAL TRADE Is GOOD
TEXTILE FABRICS AND WOOL ARE
THE ONLY LINES SHOWING
DEPRESSION
HIGH-PRIcED IRON AND STEEL
hessemer Pig and Gray Forge at
Hest Quotations Since August
Finished Products Selling
Above the Pool Prices.

NEW YORK. March 1-R. G. Dun e.
will say:
Jobbing trade in groceries hardware
and iron specialties has further gained in
volume In the East since our last report
and retail business has been good except
Ior slow movement of some descrip-
lions or dry goods, notably clothing of
winch dealers fear they must carry over
unusually large stocks In the West and
southwest. however, the season has been
satisfactory.
The greatest Industrial combination
ever arranged-that providing for the
union of the leading steel interests-has
not directly aHected business as yet, and
may not do so, otherwise than by remov-
ing some of the unnecessary competition
from the industry.
Nominal quotations of iron and steel
are misleading. According to published
lists, 1t appears that, while pig iron has
steadily advanced for many weeks. little
change has occurred In finished products
This discrepancy is due to tie figures
nXed by the various pools and asSocia-
tons, but at which it is impossible to Sc
cure prompt deliveries. Actual business
Is done at extensive advances over these
prices, billets selling at 81 at Pittsburg,
or more than 81 above the nominal rate,
Whlle plates, bars and structural shapes
are only available when special terms are
offered. Even on distant deliveries mills
are asking higher figures, and every line
OF steel production at Pittsburg has al
ready covered full contracts for the next
two months, while there is a general feel
ing that material advances will occur be-
fore May /; Bessemer pig iron sold this
week at $15.25, and gray forge at $19,
prices that have not been equaled since
early in August. Coke production is enor-
nous, and Connelisville prices at last
show definite advance
Further advances appear in the sales
of wool at the three chief Eastern mar
ketS, 3,80O,OO0 pounds changing hands,
against 1928 900 in the previous week. y
year ago total transact ons were less than
- N0F~nf IONS rlanTs
is still no reason to believe that the
heavy buying results from better condi-
lions at the mills. as orders for goods do
not appreciably expand, except In few
special lines. If manufacturers were bid
ding for raw material largely, the decline
in prices would be checked, but the av-
erage on March was the lowest since
June, 1899.
Shipments of boots and shoes from Bos-
ton We're 87,026 cases, against "a CTS in the
week preceding, and 10O,S56 a year ago.
sampling and returned home. Shops have
ample work for some time to come, and
prices are we'll maintained. Large stocks
of hides depress prices at Chicago, TAX
ing the average to the lowest point since
last October
Curtailment Of production by Southern
yarn mills has become general. and at
Fall River there is much discussion Of the
advisability of reducing output or lower
ing wages Loss in domestic. consump-
ton of raw cotton seems assured, and do
nestle buying is far from satisfactory
The position of this staple Is not made
frmer by news that sales of fertilizers
surpass all records in many Southern
states.
Grain markets are firmly maintained
Domestic crop conditions are encOurag-
ing, and the best foundation of strength
is found in Atlantic exports during Feb
ruary Of wheat, flour included, amount
ing to 10,34S,204 bushels, aaginst 7,157, 1T
last year, and 14,73O,262 bushels corn,
against 1924, Gas in 1900
Commercial failures in February were
1924 in number, and $11 2S7, 211 in amount,
compared with 1242 in January, with La
bilities of 81 220,S11
1T is worthy of note that nearly third
Of the liabilities in manufacturing fail
ures were due to single bankruptcy Of
a railway contractor while not one of The
1877 trading defaulters owed as much as
$100,0