The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-12-27
The Week in Trade.

close of a year is always a period OF quiet
In many business lines. 1t is the period
when the average business man, finding
routine work broken by the holidays, and
a tendency towards relaxation every,
where. takes time for quiet thought and
careful elaboration. With the search for
causes of success or failure and the turn
ing over in the mind of existing factors
that make for strength or weakness
comes glance into the future, and a
long look back over the closing year. |
But three more business days remain OF |
1902 and these are days for planning, |
DAVIS for introspection and retrospection. |
The passing of 1902 will mark the close |
of a year of unprecedented activity
Never before has the general volume Of
trade been so large, never was there a
more general report Of satisfactory condl-
tons. Many new enterprises nave been
launched and so large a measure OF sue
cess has attended as to surprise even
the most sanguine. Old firms have IN
creased their trade enormously, and many
houses, especially in the Industrial held'
have lost identity in the process OF con-
AS the country has prospered so has
Minneapolis prospered. Indeed, the city
has not only kept pace with other centers,
but in some respects has led them, and
with the gratifying conditions in the en-
tire northwest finding reflection here, the
growth has been remarkable. The city
has increased largely in population, the
building record is excellent the retail
trade has grown wonderfully, the jobbing
interests have expanded, and number
Of new jobbing firms entered the field
New grain elevators have been built and
more are now building. When the figures
are compiled it will be found that as a
manufacturing city, Minneapolis has in
creased her Importance. largely. The
-four mills have" increased their capacity
and a new record in production will be
made. The business=of the: postoff1ce ex-
banded, the freight traffic In and out of
Minneapolis was on an enormous scale,
and two new lines Of railroad came into
the city to get a share of the business.
The banks have strengthened and CONSOLE
dated and in the matter Of the compare
tive growth in bank clearings, Minneapolis
will stand close to the top and may lead
every city in the country. .E:tS; -
So many new records have been made
that lack Of space forbids an enurnera.-
ton here. Most important Of all, perhaps,
in viewing the country as a, whole, Is. the
result in iron,' since iron is the. ba-
rometer Of trade. In 1901 the country
produced the remarkable total of 1875
900 tons Of pig iron, yet it is expected
that the production for 1902 will exceed
this by 100000 and show a grand i;tbtal
in excess Of 17,77O,0OO tons. From the
Lake Superior iron mines the shipments of
ore reached the total of .27,039,O59 tons,
against 2O,149,669 tons in 1901, gain Of
7,ose,ses tons These are remarkable
figures and they are important to every
business man, since it Is a safe PROPOSE
ton that whatever may happen in the
speculative markets, no. serious setback
in general prosperity need be feared
while the iron trade is good. And II the
iron trade may be used as a guide, as II
has been in the past, then there is already
assurance of e,. continued, prosperity
through the first half of 1908. for the mills
will be taxed to the utmost to fill the
orders booked for delivery in that time
And the stocks of ore at Lake Erie points
at the opening Of navigation in 1903 will
be larger than at any corresponding date
sfn the past with the chances of the iror
trade being crippled by any unforeseen
labor trouble on the lakes much less thar
usually.
If we turn 70 the railroads we find tina
The construction Of ,o26 miles Of nev
road brings the present mileage of tn,
country to ao3 900 miles, and that in thu
matter of new rolling stock every recort
was broken. the roads having added t
equipment 1910 locomotives and 164, "a
cars, and yet with this increase. there i
the old story of inability to handle all tn
business offered. We. have assurance tina
the, roads will, continue the policy Q
Increasing equipment: through 1903 in tn
fact that the locomotive: and car build
ing companies are very heavily sold ahead
The railroads have not been in haste #
Y spend their heavy earnings Of the prosper
Gus year, and have been adding to sur