The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-05-24
The WEEK In BUSINESS

s Unless all signs fail, or something of
an adverse nature entirely unforeseen de- !.
velops, the country Is IN for good meas
ure of business activity for considerable
period to come. E T.
The coal strike has apparently spent its
greatest force as a disturbing factor.
For weeks the prospect of a serious, labor
controversy hung over the eastern indus
trial world, and was a hindrance to trade
in all lines When it finally came, bust
ness In general suffered less than had
the effect had been discounted. This
strike is a very serious thing, and it
might readily spread and be developed
into something big enough to give the
whole country setback, but the business
world Is not looking for anything like
this. There exists the firm hope that
somehow, or by some means it will be
fixed up in a manner mutually satisfac-
tory. @ 49,
To get the really hopeful and encourag-
ing view of things, we must leave the
east and come to the northwest. Here
there is nothing adverse, or at least
nothing important enough to be worth
considering. 1t is really remarkable how
western RAILROAD earnings keep up. When
it is considered that last year the earn
ings were, 10 per cent greater than ever
before, and that this year they are main
tanning another gain of nearly 10 per cent,
it will be seen how large has been the
IN, rof fc ut
many of the homeseekers who went into
the northwest in the early spring were OF
the very poor class. Most of them have
more or less money: Already they have
been better buyers than was expected of
them. Retailers are carrying on an act
i've selling campaign, and the jobbers are
feeling the beneficial effect.
And why should not the country buy
freely of everything needed?@ With the
exception of a limited area the north
west stands to produce bountiful crops
this year. OF course; we are far from
the harvest and anything may happen
meanwhile; but crop conditions, viewing
the northwest as whole, have rarely
been mere favorable at this date, and the
farmers are not inclined to turn pessi-
mists, with such good growing weather
as was experienced this week. =
1t begins to look as if some of the iron
contracted for weeks ago, for delivery
late in the fall, may have to- go over into
1908. Structural steel mills are feeling
the greatest pressure at present and the
plate and bar mills are crowded. :
!, Failures for the week We're only 152,
against 100 in the previous week, and 1872
in this week last year. .....
Minneapolis bank clearings at $10,1 1884,,
257 show a gain of 1877 per cent over last
year. --
A better feeling in London caused by
hope of an early ending of the Boer war,
found reflection here. Considerable
money came into New York from. the
COZ ntry. relieving the situation. Features
of the week in stock exchange circles
were the circulation of a false report that
the government would withdraw it's suits
against the Northern Securities company,
and the remarkable strength and activity
il Canadian Pacific stock which sold at
the highest point Known
The good Their and favorable crop
prospects have not been without effect
in wheat, and an easier tone, has ruled
with moderate declines. The northwest
cash wheat and supply outlook remains
firm, but the southwest is weaker. Win
ter wheat harvesting is getting under way
in Texas. For the week the country ex-
ported wheat and flour equal to 5,1s4 900
bushels, which compares with 5,172 900
bushels in the previous week and 4,796,o0o
bushels year ago..