The Saint Paul globe., 1901-08-24
The WEEK IN TRADE
BUSINESS CONTINUES TO HOLD IT'S
OWN THROUGHOUT THE
COUNTRY AT LARGE
PRICES WE'LL MAINTAINED
Labor Troubles in the Steel Trad e
Have Failed to Cause Any
Widespread De-
preston.

NEW YORK, Aug. 23.-R. C. Dun &s
Co.'s weekly review of trade will say
tomorrow:
Although there are some drawbacks,
notably the labor troubles in the iron
and steel industry, business is of wen
sustained volume, to which fact pay
ments through the country clearing
houses, railroad earnings and the
strength of prices of staple and partly
manufactured merchandise offer ample
testimony.
Except in certain branches of the
textile markets. sellers of merchandise
have an advantage over buyers, and dis
tribution is as large as stocks will per-
NIT.
The Amagamated Association of Iron
Steel and Tin Plate Workers succeeded
in enlisting the sympathy of other work
men with the result that the output OF
merchant bar and wire rods is curtaiIed
to the extent of about $1,000 tons month";
ly. Beyond this defec ion, wage earners
in the allied branches of the steel in
dustry have refused to break their con-
tracts. Many idle mills resumed during
the past week and even in the tin palte
region there is a moderate output
Plates have begun to arrive from abroad,
and prices in the London market sharp
ly advanced.
Hoop and sheet mills increase produc-
tiOn daily, and there is no loss in the
rail division, but some anxiety is felt
regarding supplies of cotton ties as the
pick ng season has begun in many states
Decreased consumption tends to weaken
pig iron, and tin is similarly affected
Exceptional activity is still the rule at
shoe shops and promises to cont nue. for
some months, Old orders are being fiIled
as rapidly as possible, and shipments
from factories show steady increase
over last year of about 30 per cent
One of the most satisfactory signs is
the evidence that little summer stocks
will have to be carried over. Sole
leather continues remarkably strong,
union backs gaining another cent, while
there is splendid demand for hemlock,
bOtn for domestic use and export Belt
ing butts advanced, and kangaroo
leather is much higher. Hides are with
out change in price and selling freely.
Slightly better terms asked for staple
woolen and Worsted goods in no way
diminished the volume of sales. and the
light weight season promises to be one
of activity. In heavy weights there is
also noticed greater interest on the part
of buyers than is customary at this late
date. These improved conditions in the
manufactures give firm tone to raw
wool despite the heavy arrivals at East
ern markets of the new clip.
After a season of dullness at cents a
pound cotton suddenly developed consid-
cradle animation and strength. The chief
influence was unsatisfactory weather in
Texas although there was also in the
speculative market from covering of the
large short interest outstanding. Liver
pool quickly responded to better prices
here There was further support in the
failure of any agreement regarding wage
reduction at FAN River, as a strike would
assuredly have followed, and consumption
of the raw material been materially cur
tailed. Sales of print cloths have in
creased in the last few days, and prices
rose, relieving the situation, but it may
be found necessary to reduce the output
by partial stoppage of wheels.
Other lines of cottons have enjoyed
more activity, and occasional advances
in quotations are reported Decided in
terest is shown in fall goods, the jobbing
trade being well occupied. In lines 7ex-
ported to China there is a fair move
ment.
Grain quotations eased off somewhat
during the week, though the net decline
was small. Corn is still close to the
highest price since 1892, even with a host
of important influences initiating against
such inflated figures Weather conditions
steadily improve making the outlook
customers have been driven away by ex-
orbitant prices to the benefit of Russia
and Argentina, and Atlantic exports for
three weeks aggregated only 1867. $50
bushels against 7636,54S last year and
y, ,720,o27 bushels two years ago. Mean
while interior receipts steadily exceed
those of a year ago, indicating that farm
ers have large stocks carried over from
previous excessive yields. Nevertheless,
prices remain above 60 cents. Slight re-
action in wheat is explained by the de-
crease in Atlantic shipments to 4S53, 735
bushels, against 7S52,S26 bushels in the
previous week. Compared with the ex-
ports of 1,670S17 bushels last year and
2,79S,S& bushels two years ago, however,
there appears a phenomenal gain. Pacific
exports are still retarded by labor
troubles, and the movement will be strik-
ing once started.
Failures for the week number 2t5 in the
United States, against III last year, and
thirty-five in Canada, against twenty
nine last year.
WEEK IN WALL STREET.