The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-04-12
The COURSE OF BUSINESS

Were it not for the continued friction
between manufacturers and employees and
threats OF labor troubles, and some han
d1cap to distribution owing to unfavora BILE
weather, the general business situation
would be almost ideal. The week brought
activity in the staple manufacturing and
Jobb1ng lines, and in some leading COM
mod1t1es advances were made in prices
The northwest had continuation of the
good demand OF the previous week, the
agricultural implement line leading the
others. Both Minneapolis and st, Paul
Ihaue supstantlal gains in bank clearings
Probably the largest single transaction
ever known in the iron trade was the DIR
chase by the United States Steel CORPORA
-tton Of 100000 tons Of Bessemer iron. The
buying of this great quantity for delivery
extending to twelve mont his beyond the
Date OF purchase, is evidence of belief that
present conditions of strength will con-
tlnue we'll into next year. The larger
interests are still cooperating for the
maintenance of prices upon a steady
~-~D>~'
prices moderately. The southern produce
ers hold prices nominally unchanged. but
occasional sales for comparatively prompt
delivery are made at an advance.
mere was revival Of interest in the
speculative markets. and the bank clear
ings In New York reached the grand total
OF 81, $40, $50 in consequence Yet even
at these figures they show decrease of
l7.9 per cent from last year, as the specn-
lat1ve frenzy of 1901 was then at its
height.
Great activity ruled in stocks this week.
me market was buoyant and depressed
by turns. few leading stocks scored
very large gains, on the heaviest trading
seen since the great bull market of this
time last year. London showed firmer
tone, which was reflected here and was the
incentive for the start, and this DEVELOPED
Into an active bull turn. Not all the
stocks made gains, however, and losses
were made In some. Money frightened a
little on one day and threw the market
back In part.
80 @SpSA| " LILO AGRICULTURAL depart.
ment covering the condition of the grow
Ing crop in the southwest was the factor
In wheat. That the government should
make the condition 1871 against a condt-
ton OF 91.5 at the same date last year.
was in itself very bullish. This was
partly Offset. however, by the considerable
increase Of acreage. The whole was tenn
pered by the fact that the figures of the
census department covering the crop yield
OF 1899, given out earlier In the week.
showed wide divergence from the fig
ures of the agricultural department for
that year. This made the trade uncer-
tain as to how to take the report and
while 1t was generally construed as bull
ish, and an advanced in price resulted,
there We're some who figured out moder-
ately bearfsh Interpretation. The pres
ent supply situation is very strong. Coun-
try elevator stocks in the northwest are
the lightest at this date for some time.
About eighteen per cent Of last years
crop, 1t Is estimated, remains on the farms.
Receipts on one day at Minneapolis, Du-
luth and Chicago were only eighty-one
!. cars. one Of the lightest runs known for
years. The local flour mills have tenn