New Ulm review., 1901-05-01
TRADE REVIEW.
Leading Commercial Agencies Re-
port Business us Brisk in Spite
of Some Drawbacks.

New York. April 29-R. G. Dun & Co. S
Weekly Review of Trade says: business
continues very brisk for the season in the
face of some drawbacks. which at times
might cause marked hesitation. Chief of
these is the floods in many directions
which have interfered with railroad oper-
ations and interrupted the distribution OF
merchandise, and the weather all over the
east has been adverse to an increase of
retail trade. Bank clearings, however
snow that, while speculation has been
heaVy. there must have been a Well-sus-
tanned volume of legitimate business, for
the gains are 14.1 per cent. over 1900. and
Is9 over 1899, outside of New York. and
loo U per cent. over 1900 and $40 over 1898 at
this city. Railroad earnings make similar
~ encouraging gains. Reports from the
interior show special strength in condi-
tons through Missouri. Kansas and Ohio
and the future is full of promise. unless
Ihere IS misfortune with the crops. Much
unfaVorable comment has appeared re-
gardIng the advance in steel rails to $2S.
Yet the change is only in keeping with re-
cent increases in prices of pig iron and bill
lets. Nominal quotations for many prod
ucts of iron and steel have long been dis
regarded in contracts calling for early de-
livery, and list prices are generally NOV
ing up to a representative level. On new
business or export orders it is not unrea-
sonable to make prices for rails on parity
y
After prolonged period of waiting for
definite crop news. the cereal markets sud-
denly awoke to unusual activity. Much of
the increased trading and sharp advance
IN prices resulted from clever manipula-
ton by single western speculator, who
compelled the short contingent to cover
May corn contracts at the highest prices
OF the season. While there was an element
OF strength in the reports of late planting,
slow movement of the old crop held great
er influence, as stocks available for aliv-
cry We're light. Wheat has risen sharply,
partly In sympathy with corn, but there
was bad news regarding the German crop,
and some damage occurred at the west
ailures for the week numbered 215 in
the United States, against 204 last year,
and 26 in Canada, against % last year.
BradStreet's says: while adversely af-
fected by unfavorable weather conditions,
general trade manifests a strong underly-
ing tone which seemingly lacks only the
advent of better weather to become buoy
ant. Cold weather has undoubtedly af-
fected planting and termination in some
sections, but the probable damage to crops
is not as great as earlier advices appeared
to indicate. In some directions activity is
pronounced as. for example, in iron and
steel, where apparently production is
| taxed to its capacity, though seemingly
more to meet existing requirements than
because of new orders. The general price
situation is one of firmness, most com
| modities being unchanged, though there
are few increases noticed, particularly in
coffee, flour, wheat, corn, oats, lard and
tin, While butter, cheese, petroleum and
odd sizes of print cloths show declines
Speculation in wheat this week wds active
and the price movement was upward .