The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-09-25
BUYERS WILL WAIT.
Merchants Not Likely to Anticipate
Requirements as Fully as
a Year Ago.
The Industrial Outlook Rather Less
Promising Money Demand
Increasing.

New York, Sept. photographic advices to
the international Mercantile Agency from trade
lied us follows:
Rain, low temperature and lack of exact
knowledge as to the extent of damage to cotton,
corn and spring wheat, have tended to check the
retail and jobbing demand for dry goods and
other seasonable merchandise at Chicago, st.
Paul. ST. Louis, Buffalo, Dallas and New Or
leans, and collections are interfered with. Loss
In this direction is noted at Boston, New York
and Baltimore Some uneasiness has been felt
among leaders at Philadelphia owing to present
iron steel and anthracite coal. Leading dealers
and fnancters state that more conservative deal
ings in general lines are looked for with In
creased costs of doing business, decreased profits
compared with last year, with the likelihood OF
many merchants declining to anticipate require
ments as fully as year ago.
Cotton Is now seen to be a month late, with
more unfavorable weather reports.
Spring wheat in Minnesota and the Dakotas
has been soaked and much will grade lower.
The m e SO caused in the three states is
Drought has injured the North Carolina to-
bacco crop.
California and Oregon hop crops will amount
ity Of the former crop is superior; of the latter
medium: CALIFORNIA; wine crop Is 20 per cent
larger than last year.
The. most pessimistic opinions as to Indian
corn do not place the crop at less than 1,9OO,-
900, 900 bushels. The industrial situation is
rather worse than better. Thirty or more pig
iron 4urnaces VIII smut QOWn between OcCS1 anu
Jan. L. reducing capacity $4,000 tons weekly.
Railways are buying fewer rails, and less
bridge material. Four anthracite coal COM
panies will mine on half time during the rest OF
the year. Wire and rails lead in activity in
steel.
There is heavy demand for funds from mer-
chants and manufacturers which the banks are
meeting freely. An unusual number of small
banks are being organized turnout the south.
Both Montreal and Toronto report falling
off In demand at the northwest. Grave fears
are experienced over the possible effects Of the
on the situation at Sault Ste. Marie. The Do
minion will send many thousands Of dollars
| abroad for rails If the big 500 steel company
is not revived.
Pacific coast salmon pack is said to be a
failure.
LONDON CLOSING STOCKS, Sept. 25-Con
soils for money, SSh coLsos for account, SS 3-16
Anaconda. 3as; Atchison, 81; Atchison preferred
81; Baltimore & Ohio. tn; Canadian Pacific
al; De Beers, 1eA: Denver. Il Rio Grande,
25A; Eris frst preferred, $50; Erie second pre-
Nashville, 1903: Missouri, Kansas & Texas, 1914
New York Central, 10; Norfolk 4 Western, 30ss
Norfolk & Western preferred, 90; Ontario &
Western, 20H; Pennsylvania, 61A; Rand Mines
93a; Reading, 23h; Reading first preferred, 81
Reading second preferred 81 sout s galway
Pacific, 41A; Union Pacific, 71A; Union Pacific
preferred. STU; United States Steel TN; United
States Steel preferred, 85A; Wabash, 20; Wa
Bar silver firm, ~ s-1ed per ounce
Money, 81 "a per cent.
The rate Of discount in. the open market fol-
short bills is per cent. The rate Of discount
in the open market for three months bills is