The Saint Paul globe., 1902-02-08
BUSINESS IN THE WEST IS GOOD
Railway Earnings Still Growing Manufacturing
Is Increasing-Famine in the Pig Iron
Market Produce Pits Are Quiet.

NEW YORK Feb. z. r. G. Duns
weekly review of trade tomorrow will
say:
Interruption to railway traffic and out
door work by severe storms was the only
unfavorable factor in the business situa-
ton during the past week, while manu-
featuring activity increased and distri-
button through. retail channels was un-
diminished. Reports from the West are
generally encouraging, but few Southern
points are slow to exhibit Improvement.
Railway earnings continue their mOnot-
onOuS record of increase for January,
gaining 7.2 per cent over last year and 24.2
per cent over 1850. The fourth week 8
earnings We're somewhat reduced by bad
weather.
Famine conditions exist in the market
for pig iron. 1t is doubtful whether there
was ever time in the history of the ma
ton when this metal was so scarce. If de-
liyeries are wanted before July l. it is
often necessary to pay premium and
consumers have been compelled in some
instances to place orders abroad. Efforts
are being made to repurchase iron sent
abroad last year, since that may evade
the duty. German billets are still arriv-
ing, but the market abroad is advancing,
which will tend to check the movement.
Structural material supplies utterly
inadequate and railways are so urgent
for supplies that an order for rails may
go abroad.
In the light of these reports it is not
surprising that exports of iron and steel
fall off and foreign contracts receive
scant attention.
Activity is general at shoe shops,
particularly in the West. and New Eng
land factories are shipping at the rate
of per cent more than last year. No
concessions are made from the recent
advance, but there are still buyers who
prefer to accept a poorer quality at old
prices.
Print cloths have risen slightly and all
lines are firmly held Exporters are bid
ding for coarse colored cottons, but in
these, as in most grades, buyers and
sellers are far apart in their views of the
right prices. The situation appears to
favor holders.
Compared with the erratic course Of
the cereals during the preceding month
or two, produce markets have been
quiet this week. In the case of corn
there are many expressions Of faith in
lower prices without aggressive specuIa-
ton on the short side. There was no
support in Atlantic exports of 122, 1863
bu compared with S,9734 1852 q year ago.
Heavy storms curtailed the interior
movement to 392. .699 bu, against 5,016S86
last year. Exporters of wheat evince
a disposition to wait for easier terms,
but shipments of old orders were 4427,-
296 bu. against 1890, 1881 a year ago.
Among the other staples cotton receiv-
ed a little support. Notwithstanding lib
eraI port RECIPES. Final returns Of COM
merciaI failures during January exhibit
an exceptionally large number Of in
sOlvencies and also an unusual amount
of defaulted liabilities. In manufactur-
ing lines there were 264 failures. involv-
ing &C. 30S 94S, an increase of 81, ,6O7, 1854 over
the liabilities last year Defaulting trad
ers numbered 1,120 with liabilities of
$7,116.972 an increase of 172 in number
and 81, ,805, 1853 in amount