The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-03-15
RAIN HELPS, STRIKE RETARDS TRADE

NEW YORK, March AR. G. Dun &
COS weekly review Of trade tomorrow
will say:
BUSINESS IN Boston was completelypar
alyZed by the strike of freight handlers
ana teamSterS, which directly affected
10000 men, and indirectly rendered other
thousands idle by holding back supplies
OF raw material. Fortunately this strug-
gle was brief, but another will begin on
Monday at Fall River mills and other
textile plants in that vicinity. Outside
of Massachusetts, however, the labor sit
uation is exceptionally free from contro-
versy, and even in the coal mines there
is less than the usual agitation as April
approaches. Distribution of spring mer-
chandise is making rapid progress, the
most sanguine expectations being fully
realized in all sections outside the strike
area.
Consumers of iron and steel products
are still anxious regarding the next three
months. After July it is believed that
deliveries viii be ample. According to
Inc Iron Age the weekly capacity of the
pig iron furnaces in blast on March /
had declined to 330,710 tons from the pro-
duction on Feb l. Considering the
numerous disturbing factors at work
during the month of February it is graf
flying that a much heavier curtailment of
output did not occur. All records prior
to Feb. 1 are still eclipsed and the re-
3 sumption of many idle plants this month
practically assures new high water mark
in the near future unless some unforeseen
interruption occurs.
Heavy Buying of Steel.
AS operations at steel works were also
retarded, furnace stock of pig iron declin-
ed about $4,000 tons in February. The
most important event of the week was
the heavy buying Of steel bars by makers
OF agricultural implements in anticipation
OF higher prices becoming effective on
April l. Billets command large pre-
miums for spot delivery, and more pur-
chases are reported Pipes and tubes are
more active as the season advances,
while large contracts have been placed
for structural shapes. Better transpor
tatiOn for coke is rapidly reducing surplus
stocks in the yards, and supplying fur
naces with all the needed fuel.
Labor disturbances have tended to
strengthen the tone of textile products by
reducing available supplies, which were
already none too large. Sellers recently
declined much business Notwithstanding
the uncertain price of the raw material,
and were in good position to stand the in
terruption. On the other hand buyers
have anXiously accumulated the small Of
ferings All divisions of the cotton
market are affected and a general advance
in quotations will follow any interrupt
ton to manufacture and transportation,
owing to the healthy consumptive de-
mand. Export business is still checked
by the firm views of holders. Com
plants are also heard as to the delivery
of wooden goods, but trade is only fair
and cancellations on orders on overcoat-
ings are frequently reported.
Farmers Hold Large Stocks.
Official indications of farm reserves on
March l were not surprising as to corn,
dealers anticipating that supplies would
. be about one-half last years, but the
statement that 25 per cent of the enor-
nous wheat yield remained in farmers
hands was not calculated to sustain val
ues. Needed rains in the Southwest made
the market look more favorable for the
next crop. A sustaining feature was the
interior movement of only 1851, S91 bu,
against 1902, $50 bu last year, while on
the other hand total exports from the
United States were but 2598,472 bu, COM
pared with 4,962,674 a year ago. AS to
corn both comparisons were striking, re-
ceipts Gggregatng only 1,893,950 bushels,
against 4,131,337 year ago, while Atlantic
exports fell TO the lowest record for many
years, 96,109 bushels, against 3,339,90 in
1891.
Cotton was pulled both ways; light re-
ceipts, reports of almost exhausted stocks
at the interior, ready purchases by South
ern spinners, and fairly well maintained
exports being the upward influences,
while talk of reduced time at Lancashire
mills, the impending strike at Fall River
and general interruption to traffic in New
England initiated against the staple.
Failures for the week were 232 in the
United States, against 209 last year, and
"a in Canada, against 80 in 1901.