The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-03-15
THE COURSE OF BUSINESS

TWO OmlnOuS clouds lOOmed up on Iue
industrial horizon early in the week.
Boston was the storm center of one, the
other hung over the anthracite coal re-
gion. Thirty thousand men were directly
handlers strike in Boston, which had
reached so acute a stage that the gravest
fears were entertained. Every effort was
made by the leading merchants, aided by
the governor of Massachusetts to bring
about a settlement. Sufficient pressure
was brought upon the railroads to force
concessions, and by securing slight mod
ification of the demands of the men,
compromise was reached.
In the coal regions there has been
nothing as yet more serious than threats
and mutterings. 1t is the belief in Wall
street that the difficulties and misunder
standings will not be permitted to grow
as strike in the coal regions at the pres
ent time would be especially bad.
The period Of the year is close at hand
when labor troubles are most to be ex-
pected. 1t is interesting to note that
ing possible demands by voluntary action
A machinery firm having plants in Mil
waukee, Chicago and elsewhere, employ
ing 5000 men, announces an increase of
per cent in the wages of every employe.
The week witnessed the floating Of very
heavy bond issues in New York, the
Pennsylvania company and the Steel cor
poration putting out bonds aggregating
SIC, 900. 900. The favorable manner in
which these issues were received gives
evidence of stability, and has been taken
as indicating a growth of favorable senti-
is a hesitating one, with the volume Of
business moderate. The public is wait
ing for something stimulating before
coming in. The price ranges remain mar
row, except where activity develops In
some special stock, or group of allied
stocks. .,~
Spring is opening up early this year
and the effect of this fact is seen in all
lines of business. The outlook in textiles
is good except for the fact that labor
troubles are in the air and signs Of dis
satisfaction are seen in the Fall River
district as elsewhere. Activity is noted
in footwear, shipments from manufacture
ing centers increasing materially. Agri-
cultural implement manufacturers have
been large buyers of bars, and this, with,
increasing inquiry for structural iron, has
brought additional strength into the iron
and steel markets. Pig iron advanced SO
cents per ton and the bulk of all the bust
ness in the iron and steel trade was on a
rising scale. Wool is very firm notwith-
standing the adverse effect Of the Boston
strike upon the wool trade.
Bank clearings at $2,121, 197014 show q
nominal increase for the week. gaining
about 1 per cent, The country outside
New York gained 1875 per cent. Mime
apolis increased by 31.6 per cent.
There has been decline in wheat under
pressure Of very bearish conditions.
Rains over the southwest took the
strength out of the market, and stopped
the damage reports that had been coming.
Apparently the winter wheat crop is in
seasonahle condition. Reserves of wheat
on the farms are larger LHdu at This ClU6
last year, and foreign demand Is dull.
This latter is evidenced by the fact that
exports Of wheat and flour for the week
were only 100000 bushels, as compared
with 1895, 900 bushels in the previous
week and 4,690O0O bushels year ago. It
is, however, largely a weather and crop
market, and while the outlook may be
bearish from the foreign demand or sta,
tistical viewpoint. sudden reaction from
depression will follow any changes in the
favorable condition OF the growing crop.
At any rate, congress is now interesting
the people. 1t is long time since there
has been such curious situation in the
lower house as now. The political an
alyst can find endless delight in dissolv-
Ing the insurgents into their component
parts and examining the motives OF each
part. There are so many motives in
volved and such complication of alliances
that it is not hard to understand why our
Minnesota members think they are pursu-
ing the correct course, even though it is
so emphatically at variance with the ideas