The Saint Paul globe., 1902-02-01
BUSINESS SITUATION
is SATISFACTORY

NEW YORK, Jan. 31.-R c. Dun &
Co.'S review of trade tomorrow win say:
Despite some -4drawbacks, the business
situation continues satisfactory, with es-
pecially good news from manufacturing.
centers. Labor disputes are somewhat
more numerous, and low water stopped
mills in parts of the Northwest Special
lines were stimulated by seasonabIe
weather, but the. same influence affected
others adversely.
Although manufacturers of steel have
stubbornly resisted imitation of prices.
the urgency of consumers has attracted
more importations Distant deliveries are
undertaken by domestic producers, but
where. immediate shipment is required,
1t Is often impossible TO prevent foreign
makers securing, the business. sxas,..
AS anticipated, the ore companies fixed
Bessemer at the old rate ofrr$I25 The
remarkabie report of the steel corpora
tion gives some idea of the volume Of
business transacted last year, while con-
tracts already placed practically assure
still greater activity for 1902 All lines
have share in the vigorous demand,
with wayaandestructural supplies lead
ing, and preparation for spring work has
removed the dulIness from pipe and tube
departments, Minor metals finally reach
ed point where consumers were at
tracted and recovery was general
Footwear shops in New England have
large orders for spring goods, and are
still busy on seasonable lines, while
weekly shipments continue to exceed
those of last year. Wholesale buyers
are in the Boston market, but show an
inclination to delay placing contracts at
the present advanced prices. Hides have
declined still further. Textile mills are
we'll occupied and the lack of accumu-
lations in first hands gives strong
tone to the market, though there is much
evidence of conservatism among buyers
While the size of the cotton crop re-
mains uncertain, it must exert a quieting
influence on goods. Fewer lines of new
Woolens have been opened than were ex-
pected. The raw material is-sustained by
brisk competition and firm prices at the
London wool sale. -ts
Even at the lowest point Of the week,
wheat was S cents and corn Is cents
higher than at the corresponding date
last year. Foreign buying OF wheat was
not perceptibly stimulated by the lower
prices, but there continued a steady out
go, aggregatlng 3,7S6,S73 bushels for the
week, -four included, compared with g. 324-
75S a year ago. Consumption Of wheat as
fodder or holding back for higher prices
prevents the big yield from swelling re-
ceipts, which, for the week We1e 2S4O,0 ,0S1
bushels, against 2,775,955 last year
The reduced yield of corn is reflected in
interior arrivals of only 2,379, ,365 bushels,
compared with 4,90S,962 a year ago, while
the high price is responsible for Atlantic
exports of 331, $50 bushels, against 2,41S,-
0l3. last year . a I'D.
Conflicting statements hold the cotton
market in suspense, but there is no I'M
certainty as to the unparalleled yield Of
coffee, which put the price within frac-
ton of the lowest point on record
Liabilities of commercial failures dur
ing four weeks of January aggregated
$l2,S02,0O7 Of which 1888. 292 were in man
ufacturing, $6495. 9S4 in trading and s7S2,-
631 in other strictly commercial lines
Aside from few exceptionally heavy
defaults the showing is very good as to
manufacturing. Large decreases appear
lin liabilities, as compared with last years
failures in iron, machinery, cotton, lum-
Der and chemicals.