The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-06-29
WEEKS REVIEW Of TRADE
r. G. DUN & co. HOLD THAT NEW
YORK BANK FAILURE IS OF
MINOR EFFECT
TRADE HOLDS At HIGH PACE
Favorable Reports From All Indus
tries, Iron and Steel Manufac-
turcrS BEING Especially
Busy for This Season.


Co.'S weekly review of trade tomorrow
will say:
1t does not follow because bad bank
ing methods have caused one of the
smaller New York banks to close it's
doors, with attendant circumstances
that create discussion in Wall street,
that general business is in any way af-
fected by or at all responsible for the
trouble. The country is undeniai0ly
prosperous with respect to abundant
harvest to supply all our needs and in
creasing European deficiencies. the stu
alton is viewed with confidence. A few
more labor disturbances have arisen,
but others have been settled, notably the
dispute over the tin plate scale. Some
disagreements in the coal regions at
times assumes a threatening aspect, but
the troubles have been local and do
not affect the mining industry Reports
from the country speak of a continued
active movement of merchandise at the
jobbtng trade and embracing nearly all
lines.
The fiscal year closes with conditions
in the iron and coal industry in marked
contrast to the situation at the cor
responding date in 1900 Quotations were
then receding rapidly without stimulat-
ing activity, idleness was the rule at
furnaces and mills and wage scales were
under serious discussion with employers
and labor organizations, and far apart
in their views. This year difficulty is
experienced in stopping machinery long
enough to make necessary repairs
Prices are well maintained and steady
without unreasonable initiation while
successful season makes it possible for
many concerns to avoid controversy by
voluntarily reducing hours or advancing
wages, and evidences of serious disagree
ment are the exception. Construction
proceeds an unprecedented pace, so that
structural material, builders hardware
and kindred goods ind ready purchasers.
Railway facilities are inadequate to
handle expanding traffic and shops are
crowded with orders for new freight
cars and other equipment.
Footwear forwardings from Boston av-
eraged over 100000 cases weekly for two
months, raising the total for the haf
year to 2,35S, 81 cases, according to week
ly records of the Shoe and Leather Re-
porter. The largest previous total for
the corresponding month was in 1900 and
fell 154,151 cases short Of the current
year. Exports to Great Britain are a
most satisfactory factor in the present
movement. Some Eastern shops are so
well supplied with contracts that deliv-
cries cannot be promised before Sep
TENDER Local manufacturers are run
ming on short time or closed for stock
taking. Stocks in dealers hands are
light, which gives the market a strong
tone. Leather is active and firm, with
hemlock sole in good demand. Upper
leather is selling freely, not equalling the
activity in sole. Receipts of imported
dry hides are light and prices well sus-
tanned, while slaughter hides at Chi
cago have made further advances and
holders are inclined to wait for still bet
ter terms.
Wheat prospects are further improved
throughout the entire producing region.
More satisfactory to the producer than
evidences Of a banner yield is the fall
ure Of quotations to show commensurate
decline, for there Is good profit at pres
ent prices. Foreign needs continue the
sustaining influence, in four weeks At
lantic exports, flour included, aggregat-
ing 1865 600 bu, against !, ,076 last year
and S,934, 638 in 1899, while Pacific exports
were 3,505, 400 bu compared with 2,753 978
in 1900 and 2, 445,740 two years ago. Corn
is supported by reports of injury and
receipts are less than half last years,
but the export movement is equally IN
satisfactory.
Wheels at textile mills are no longer
generally idle. Improvement in all
branches of this industry has come with
a rush and manufacturers are making
UP some earlier losses. Gains are more
conspicuous in the wooden goods division
because depression had lasted longer and
been more severe. AS the raw material
gradually sought a lower level, mills
restricted purchases In anticipation of
better terms except where orders for
goods were secured. The clothing trade
is now seeking mems wear wOolens and
worsted, and buyers find stocks light.
Values have not yet hardened, but there
is little thought Of lower prices either
for goods or raw wool. In knit goods
jobbers are taking stock, after which
activity Is expected. Last weeks gain
in cotton goods has been held and there
is more business than at any time this
season. Prices are still unsatisfactory,
especially in view Of the further rise I'm
raw material. Many reports of injury
to growing cotton tend to advance prices
in the face Of heavy receipts on the old
crop.
Failures for the week numbered 2O4 in
the United States against 2G7 last year,
and % in Canada against q last year.