The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-05-17
THE WREK TN .R11s1NEss

Inc most unfavorable development of
many weeks in the business world oc-
CURED on Wednesday, when the strike in
the Pennsylvania coal fields was in
augurated. This had been expected, hence
the erect was in a measure lessened, yet
the seriousness of the situation is fully
realized. To what extent this trouble may
spread, how, much Of fight there will be,
and how bad the; general effect time alone
can tell. 5ear .,.,
IN consequence of the strike and its at
tendant possibilities a slight tinge of pes.
slm1sm has colored the eastern reports.
Ihere is nothing as yet, however, to oc-
caslon fear OF a set-b back, and if we turn
from this. district and view the industrial
field as a whole the situation is found to
be very encouraging. .4@= 21E
Good rains fell in the southwest, greatly
stimulating winter wheat, and this alone
Is SUFFICIENT to offset every unfavorable
feature found elsewhere. 1t is interesting
to note that grain receipts at Chicago last
week although, light were the largest
known this year. In Minneapolis receipts
continue very light, which is to be ex-
pected for. a short time yet. We're it a
matter of northwestern sentiment alone,
wheat prices would probably be somewhat
higher. The local cash situation isestrong.
Stocks in Minneapolis are very light, and
to-day''s report shows further decrease for
this week Of 891 900 bushels. A consider
able portion of the northwest acreage IS
still unseeded, and reports received by
T h j. urn,a / to-day fully confirm the
earlier prophecy Of a decrease in wheat
planting and, an increase in corn and oats.
These things afford legitimate ground
for full price maintainence, at least until
matters reshape themselves later. But
the southwest-is bearish,. In a few more
weeks winter, wheat will be cut in Texas,
and harvesting will then become general.
Against the anticipation of any early and
liberal movement into Kansas City and
St. Louis it has been impossible to bring
up those markets to the northwestern de-
gree of firnness. ''.7~
Retail buying Increased with the rains
in the west. Jobbers found considerable
business for fall delivery. In the produce
lines prices have been easing off which is
natural as the season advances. Meat
prices hold relatively firm, however, and
material declines are not expected until
the late summer or fall iron prices are
again f1rmer notwithstanding the country
is breaking all records and producing pig
iron sate thedrate efras ,ooe, 900: tons year.
Wool isasffrm,3 cotton. weaker, land, dry
goods GENERALLY quiet. The approach OF
the canning season tends towards steadi-
ness In sugar at the present LEVEL 49,. -.
The northwest continues active in all
lines. Minneapolis bank clearings for the
week were s11,5Oo,7o9, an increase of III
over the $40, ,O17 of the corresponding
week year ago. : -. ~ -
y Monetary conditions are generally sat
isfactory and New York bankers expect
reasonable money rates for the present
The New York Stock exchange had bear
market nearly every day, and by gradual
dips some material losses were made even
in the best stocks Stock traders do not
look for much of bull market for the
present, but are hopeful Of favorable
turn after a short time. Some of the
stock issues not listed, and traded in on
the curb suffered declines, notably North
ern: Securities, which dipped under. PAL
fol-. the first time and was offered on ono
day down to 9SM.