The Saint Paul globe., 1901-06-15
WEEKS REVIEW OF TRADE
GOVERNMENTS CROP REPORT HAS
IMPARTED A GREATER DE-
GREE OF CONFIDENCE
IRON TRADE HOLDS IT'S OWN
New High Record Made for Weekly
Production of Pig Iron, while
Furnace StcckS show De-
crease Since May 1.

NEW YORK. June AR. G. Dun &
Co.'S weekly review CT trade tomorrow
viii say:
Confirmation by the agricultural bu-
reau of recent private estimates of the
wheat crop has given to business tone
of greater confidence. Retail operations,
both East and West, are larger, and dis
tribution of merchandise by the wholesale
trade is increasing in dry goods and
boots and shoes The labor situation is
gradually mendng, with the apprecia-
tion of the fact that in some direction
manufacturers would be glad ef tenn
pOrary shutdown of works.
Pig iron production in June l was at the
rate of 314,5C5 tons weekly, according to
statistics compiled by the Iron Age.
This is about the anticipated increase
for May and establishes new nigh wa
ter mark, exceeding the previous record.
An interesting feature of the situation IS
the decrease Of furnaces in blast to 25Z,
which is forty-four less than were active
ly employed Feb. l, 1900 when the weekly
output was 29S,014 tons. Although new
orders for pig iron have been light in
recent weeks, actual deliveries on old
contracts must have reached heavy
total. for furnace stocks June 1 were but
407,723 tons, a decrease of 30,565 tons dur
ing May. Conditions in this industry
must be satisfactory if material is taken
faster than it can be produced, notwith
standing a new record of output each
month. Prices are easier, Bessemer pig
showing a loss, compared with the quota
tion in February of last year, when the
production was near present figures.
This absence of imitation in prices is the
best symptom of the market, and pre-
cludeS a possibility of a collapse like last
year. In finished products there is great
activity, owing to the large amount OF
goods to be delivered July 1. There IS
noted especial urgency for immed ate
shipment by consumers of plates, bars
and structural shapes, the activity in
building operations showing no diminu-
tion.
seasonabIe weather has somewhat
aroused the dry goods market. There is
not yet such activity that dealers are
overwhelmed, but the various divisions
of manufacture are fairly occupied, and
heavy supplies of print cloths at Fall
River have decreased. Lower quotations
recently established had a helpful effect,
but the temperature was more potent for
good.
Forwardings of footwear from Boston
have averaged over 100000 cases weekly
for some time, and shops are well en-
gagged Fall contracts are beginning to
receive attention. Prices are steady.
Retailers are receiving better grades Of
glazed kid shoes without higher quota
tons Local jobbing trade is very active.
Scarcity of heavy sole leather sustains
prices, but light weights are dull and
weak.
Wheat declined to a more reasonable
level with the withdrawal Of speculative
support. The government report of con-
dition of June l was chiefly responsible.
A crop this year equal to the greatest
ever harvested was indicated by the Off
cial statement, and as department fig
ures have generally proved below the
final close. there was heavy selling Of
options. with a fall below so cents for
cash wheat at this city. Foreign buying
promptly decreased with the prospect OF
more satisfactory terms. Atlantic eX-
ports for the week, flour included, were
2.gS5 9S3 bushels, against 4,52O144 bushels
the previous week, and 3,0S1,9 926 the same
week last year
Corn also lost in value, although crop
news was not especially br ght. Atlantic
exports are still unsatisfactory, amount
ing to 21S7, ,525 bushels, against 3,2S6,5s3 a
year ago. Notwithstanding somewhat
lower quotations for corn, the provision
market has developed much strength, and
pork products at the West are receiving
the attention of spectators to an unusual
extent, mess pork rising to Sl5.25 here.
Failures for the week numbered 179 in
the United States, against 162 last year,
and p in Canada, against q last year.