The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-09-06
The Week in Business.

It is said that the oldest financiers in
were so few bears in evidence in Wall
street as at present. There is in fact no
stock market leader on the bear side, and
no attempt at organization or concen-
trated effort on the part Of the men who
operate for declines. Everyone
those conservatives who advise caution on
the part of investors, and predict a SET
back as a result of recent sharp advances
and higher rates for money, while still
believing in an ultimate range of prices
higher than ever known.
Interest in this on the part of business
men entirely remote from Wall street or
the stock exchange influence arises from
the fact that considerable part of the
buying Of the week, especially in the
shares Of western railroads was attributed
to demand of the solid Investment char
acter, which is a strong indication of gen.
eral confidence in the future of the west.
The speculator, operating for large profits,
hastens to act on the first indications of
conditions to come promising a rise in
values. The prudent investor, content
with a smaller return and with safety as
prime consideration, waits until he feels
assured that the promise is about to be
realized. e
To what extent the advances already
made have discounted the future, is prob
lematical Certainly it is a reasonable
assumption that if the western railroads
dependent largely upon corn, or the ton
mage derived indirectly from corn, we're
able to hold up earnings last year, and
even make increases. they should do Won
derfully well this year, when, as an illus
tration, the present condition Of corn in
Missouri is 1OS, while last year at this
time it was 20 on a much smaller acre
age.
More Scotch iron was brought over
this week for use in Chicago. A little of
unfavorable comment was occasioned by
this although just why 1t is hard to see.
It has no special significance and means
nothing more than that we must have
iron, and as there are many difficulties
in the way Of maximum production the
most important of which is the coal strike,
consumers are going abroad for what they
cannot get at home. The foreign iron
makers will lose their American trade
whenever American mills can book the
orders.
The northwest has had another week Of
unreasonable weather. In spite Of this,
however; trade is reported good, and COL
lections easy. The unfavorable feature is
the continued light crop movement. To
date Minneapolis is far behind last year
in the matter of wheat receipts. This
time. The grain will begin coming in
quantity eventually but every succeeding
day of bad weather delays the move
ment still further. Something of a scare
was worked up in small way by low
temperatures over the northwest and the
possibility Of damage to wheat in the ex-
IRENE northwest, and to the late fax still
in some degree immature. Price ad-
vances were made on the prospect, but
nothing very serious developed.
Failures for the week were under the
average and there were no new develop
ments of an unfavorable nature in the
industrial lines. The feeling is growing,
however, that the anthracite strike must
be settled even if a. settlement must be
forced upon the mine owners and their
property rights disregarded, in view of the
existence of something that has grown to
be serious menace to the general pros
perity. y