The Saint Paul globe., 1902-07-12

NOUS passenger rarric.
NEW YORK, July 11.-Bradstreet's
tomorrow will say: Warmer and more
settled weather in many sections has
helped seasonable trade and made it
possible to ascertain that the earlier
reports of grain damage from rains
were rather exaggerated. Among the
industries iron and steel rank first in
activity, and the Chief source of COM
plant is the scarcity of coal and coke,
limiting pig iron production at crit
ical period. The labor situation has
rather improved, If anything. Rail-
way earnings thus far reported for
June (the anthracite roads eXcepted)
show an aggregate gain of per cent
ON last year. and all reports as to prob
able crops and trade point to the main
tenance of a heavy tonnage.
The strength of food prices, partic-
ularly of cereals and meats, is based
on small. Immediately available sup
plies, rather than fears of possible fu-
tllre shortage. Except for wheat, high
est prices paid for ten to twenty years
past at this time are being paid. Tex
tiles and other manufactured goods
tend lower and thus affect the general
level of values.
Proof of Prosperity.
The ability to pay the prices ruling
In the past year is one of the best
evidences of the prosperity prevailing
among all, classes. Further light in
this matter is shed by the reports from
all parts of the country of enormous
passenger traffic by rail and water
during the first week of July. Failures
are down to a low summer minimum.
1t is significant fact, in view of
recent crop damage talk, that the gov
ernment report for July shows that
winter wheat, oats, barley, rye and
hay all improved in condition during
June and spring wheat alone lost a
tribe. The bumper crop of corn (n-
dicated in these columns for some time
past, due to large acreage and good
condition), seems measurably within
sight, in view of the agricultural de-
-partment report that most of the lead
ing states are above co. This report
is taken to indicate not far from $780,
100000 bushels crop, a total never hith-
erto reliably estimated The wheat
crop, despite drawbacks, promises still
to reach one-f1fth above the ten-year
average, and the indicated oats pro-
duct1on has never yet been equaIed
Barley, rye, potatoes and fruit crops
all promise better than a year ago.
Retail Business Looks Up.
Trade in seasonable goods at whole
sale has been restricted, but warmer
seasonable weather has helped the re-
tail business. Fall business has been
of good proportions at the West, and
clothing and shoes have done especial
ly we'll at st. Louis. Shut downs of
Schuylkill, Lehigh, Mahoning and She
mango valley furnaces, because of lack
of fuel, reduce the volume of iron pro-
duction when their full production
could be adVantageously handled. Rails
are in unprecedented demand, and so
per cent of the country's production
for next year has already been ar
ranged for: In structural shapes and
other forms also, demand is eager,
and six months production is easily
on the order boks. Import arrivals of
iron and billets are large In some
lines, however notably tin plates, wire,
sheets and bars, new business is slack
Hardware is in very active sale, a.
feature being the large business in fall
lines already booked.
Exports Light.
Preliminary returns of export trade
for the fiscal year. show the smallest
exports of breadstuffs for four years
past, due to the shrinkage in corn and
oats, more than offsetting probably
the largest wheat shipments on rec
ord. High prices for cattle checked
exports also, but provision shipments
have broken all records. Cotton ex-
ports are rs per cent below last years
record-breaking total, but petroleum
exports were never before euualed.
The aggregate of the exports of bread
stuffs, coal and provisions, cotton and
petroleum, is 16 per cent below last
year, but still 1 per cent larger than
two years ago, which was up to that
time the greatest ever recorded.
Wheat, including flour, exports for
the week ending July 10, aggregate
4,440,000 bushels, against 3211215
bushels last week and 5,016,149 bushels
in this week last year. Wheat exports
since July 1 aggregate 6,009, ,115 bush
els, against 7,541,24 bushels last sea-
son.
Corn exports aggregate 185,131 bush
els, against 127,969 bushels last week
and 2,S00,738 bushels last year. For
the fiscal year corn exports are 249,115
bushels, against 4,294,6S6 bushels last
season.
Business failures for the week num-
Der 159, as against 1913 last week and
199 in this week last year.