The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-01-01
GREATEST
EVER KNOWN
HISTORY HAS NOTHING TO EQUAL,
INDUSTRIAL ACTIVITY
OF 1901
STEADY GAIN IN PRODUCTION
Rise of Values Has Been Legitimate
Farm Population Especially
PrOsperOus-Produc
Capacity Expands.
SILVER DECLINES STEADILY


NEW YORK, Dec. 8l.-Dun's review
viii say on Jan. 4:
Most marvellous of all the phenomenal
evidences of advancement in business
during the year was the progress made
in manufacturing. 1t is impossiD.a to be
too extravagant in deiineating the move
ments of the Industrial world Never IN
the history Of this or any other nation
has such development occurred within
the space of twelve month. The ex,
pansion of productive capacity was
enormous, the improved methods of work
and organization were conspicuous, wise
economies were introduced put more
than all other factors that made for
, permanent prosperity was the conserva-
{, tive resistance to price imitation.
Iron and steel.
After the reaction of 1900 the level OF
prices remained depressed for some
months, but gradually responded to the
: increasing demand as excessive accumu,
lations were absorbed From a condition
OF glut there arose almost famine
greatly exaggerated by the stubborn
strike. Some idea of the changes in size
of supplies may be found in the COM
parison of furnace stocks of pig iron, as
published in the Iron Age, which amounts
ed to 54S 663 tons on van. l. These ng>
ures steadily declined throughout the
year until only 223,462 tons were held on
Dec. j.
Aside from the slight fall during the
period affected by. tnes strike there ap-
pears almost steady gain in produc-
ton, closing with, the maximum guam
tity on record. Willis the output on Dec.
l was at the unparalleled rate of 1OS97-
672 tons yearly, it is obvious that the
actual production for the year was mitch
smaller, although quite sufficient to es
tablish a new record, and, Judging by
the amount of business already placed
for 1902 the current years yield may
not unreasenably be expected to surpass
100000 tons. Output of rails was be-
yond all records, YET contracts for 1902
already haver cached another high-water
mark of probably 100000 tons.
Minor Metals.
Readjustment of quotations was Sc
cured during December after a year OF
unreasonably inflated prices. Copper was
stubbornly held at II cents most of the
time, but when the reaction began there
was fall of cents within a few c0ys.
Tin was advanced to 2Ss4 cents in June,
but fell to 22 cents In December. Sim
tlarly with lead, the nominal price of AS
cents was cut to 4 cents. Tin plates
closed the year where they opened, put
In the interim there. was an advance of
81 on account OF -le famine that followed
the strike.
All records of output for hard and soft
coal were surpassed during 1901, despite
the scarcity of ears that retarded opera
tlons. A feature Of great advantage was
the expanding export movement, which
reached more encourag ging proportions
than in earlier years. In ten months the
value of shipments was $19.0S7, 1853, against
ST, 1854 the year previous. Coke ovens
made phenomenal record, establishing
new higf1-Water mark of weekly output.
at 44,529 tons late in November
An entire year of activity and an era
of high prices characterized the leather
market, but there has been no boom
such as existed during 1885, and resulted
in one of the most disastrous slumps
ever known in the leather industry. The
rise in values was steady and by easy