The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-25
TRADE HOLDING ITS OWN
WIDESPREAD STRIKE OF MA
CHINISTS HAS Rad LITTLE
EFFECT ON BUSINESS
IRON AND STEEL HOLD STEADY
Confidence Is a Result of the Steel
Trusts Action in Not Disturb
Ing Stability OF
Prices

NEW YORK, May PAR. G. Dun &
Co. S weekly review of trade tomorrow
viii say:
The labor situation is the cloud hover
ing over the business world but the
difficulties are not sufficiently wide
spread at present to seriously interfere
with the progress of manufacture and
distribution. Some settlements of strikes
have been effected during the week and
others seem probable at an early date
Meanwhile prices held firm, the capacity
OF producing plants in the leading in
dustries is well employed and crop ad-
vices are satisfactory.
y feeling of confidence in the per-
manence of values appears to have set
tied in all divisions of the iron and steel
manufacture. To this may be attrib-
uted the decrease in orders for distant
delivery, purchasers merely contracting
for their requirements for one to two
months in advance Tranquility regard
ing the future is undoubtedly que to the
action of the large combination which
has made no effort to secure eXorOitant
prices bat manifssts an intention to
maintain quotations at the current level
Independent producers show a disposition
TO work along the same lines and the
net result is less Scrambling to get or
ders placed but no Indication that the
actual demand is any smaller. Notwith-
standing much talk of dullneSs in pig
iron, Bessemer is firmly held at 16 10
delivered at Pittsburg, SIG at valley
furnaces Foundry irons are somewhat
easier All lines of finished steel are
crowded to the limit of productive ca
pacity, and machinery houses at Chicago
are granting machinists demands rather
than risk delay. At some other points,
however, employers appear more stub
born, and there is prospect of serious
interruption TO business.
Although slightly smaller than in the
two preceding phenomenal weeks, ship
ments of boots and shoes from the East
were more than 100000 cases and far in
excess of the same week in earlier
years
Leather has been strong and betting
butts are scarce. Cheaper grades Of
upper leather are less aCtice, owing to
the better demand for glazed kid and
calfskin. Textile fabrics still exhibit
the least animation. and conditions at
Fall River cotton mills are far from en-
coura ging, further reduction in time and
possibly in wages Icing under discus.
sion Wooden mills exhibit little more
activity and buy raw materials.
Correspondents report the winter wheat
outlook steadily improving and there is
every reason to anticipate an abundant
duced acreage and losses by drought in
Texas may amount to about half the
original area planted. The production
in this state however is never sufficient
ly heavy to be an important factor in
the total for the whole country. The
most encouraging feature is the de-
crease in the amount of harm done by
Iessian flies, which earlier in The season
threatened to be severe. InIthe face of
better domestic crop prospects, quotations
continue firm. injury in Germany affect
ing foreign markets. Atlantic exports
have been large for the past week, in
GLIDING flour. amounting to 9.692 AS bush
els. against 2.173,S56 bushels in the same
week last year, and 1,6i6,624 bushels in
1889 Speculation in May corn has
Quoted down. but the general level OF
this cereal continues far above normal
prices. and more liberal receipts have
been attracted to interior cities; 70" the
week, 3,e67.0l2 bushels were received,
against 1.G9i.1S6 bushels last year. On
the other hand 70. eign buying Is re-
str;cted. Atlantic exports being only
] 1876, 500 bushels, against S,5Sl,673 bushels
q year ago
Comparative quiet prevails as 10 cot
ton. Receipts continue liberal spinners
are buying little and there is steady
Improvement in reports of the current
crop condition.
Failures for the week numbered $50 in
the United States. against 1S5 last year,
and 2 in Canada, against 20 last year.