The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-07-13
The WEEK IN TRADE.
GENERAL BUSINESS CONTINUES
PROSPEROUS, UNAFFECTED By
SPECULATIVE UNREST
STEEL TRADE MORE ACTIVE
Improved Demand Noted for Fin
ished PrOducts-Greatest Uncasi-
ness in Commercial Situation
Is Uncertainty as TO Crops

NEW YORK, July 12.-R. G. Dun &
Co.'s weekly review of trade tomorrow
will say:
General business continues its even
course, with all the leading industries
well employed and with confidence eX-
pressed on every hand Bountiful crops
of wheat seem assured and the damage
to corn, while considerable in some di-
rections, does not promise to be sufil-
GENTLY general or serious to at all I'M
pede the progress Of the country. Labor
troubles are in process Of settlement,
and specula tors have been responsible
for most of the unrest which has been
reflected in the markets.
Steel mills are actively employed, and
there is a distinct improv ement in the
demand for finished products, while quo
tatlons are without alteration. In bars
for use by makers of agricultural imple-
ments there is q brisk movement, plates
are taken readily, and there is no sign
of diminished purchasing in structural
material. Rails are ordered freely, with
notable pressure for trolley and other
light weights. Billets are more quiet
and few new transactions are recorded
in pig iron. The total number of pig
iron furnaces in blast on July l, as re-
corded by the Iron Age was three less
than month previous and their week
~ capacity was 31095O tons Although
this is a trifing decrease of 3,5I5 tons
compared with the production on June
!, it far exceeds all earlier records. On
July l, 1900, the weekly output was 2S3-
49, and in 1883, it was 263, 1863 tons. The
most startling and gratifying feature of
the situation is the decrease of L, 1875 tons
in furnace stocks, notwithstanding an
output at the rate of over 100000 tons
annually.
Improvement is general in the foot
Wear industry, although higher prices
can be obtained. The market for split
goods is lirner in tone and advances are
expected, while mons satin shoes are in
better request. Jobbcrs have light stocks
of summer good, which retailers should
exhaust before the season ends Leather
is in good demand and firm, but with
out quotable change in price. Western
shoe manufacturers have bought glazed
kid in the local market and also taken
freely of other upper feathers. The large
buyers of dry hides withdrew from the
market owing to the prices demanded by
importers and trading became duh.
Textile lines have settled in q steady
position that promises more lasting pros
perity than If prices had been forced high
er or sensational activity had followed
the altered attitude of buyers. In job
bling circles it is thought that trade will
not be prosecuted vigorously until AL
good orders. Heavyweight woolens are
securing duplicate orders, and mills are
making extensive preparations for the
lightweight season. Manufacturers are
we'll employed and eXhfbAt increasing
interest in raw material. Wool has not
altered in price, but the market is lirmer
and sales increase. Growers are said to
be selling rather than consigning, while
many ranchmen refuse to do business at
present prices.
In the cotton goods division there is
nothing new recent advanced prices be-
ing fully sustained, and mills keeping
wheels in motion as a rule The raw ma
terial has declined. large receipts of the
old crop and many bright dispatches
from the South having more effect than
stories Of drought in Texas.
Grain crops this season are occasion
ing much uneasness among spectators
owing to the extremely complicated sit
uation. According to latest official and
unofficial prognOstcatio ions, there is rea-
son to anticipate the heaviest wheat
yield ever harvested, and making the
customary allowances for domestic con-
sumption, even with the small supplies
on hand when the year opened, there ap-
pears available for export about so per
cent more than went abroad in the year
of greatest shipments. Yet prices are
far above the low record and vigorous
rallies follow each decline. Extensive
needs abroad continue the movement
from Atlantic ports for the week
amounting to 2,20S6 S4 bushels, against
219S,443 bushels a year ago, and Western
receipts were 4,57927S bushels, against
2,GlS,67 bushels last year Corn ex-
hibited remarkable strength, drought and
heat since July l giving reason to ex-
pect less than the official report which
indicated more than 1900, OO0 COO bushels
The cereal is now at an exceptionally
high point, and estimates of 200, coo $50
bushels for export are too high, as for
eigners will not buy freely at the en-
HANGED value.
Failures for the week numbered 20S in
the United States. against 1876 last year,
and q in Canada, against "a last year