The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-12-05
The Week in Business.

To-day marks the close of naviga-
tion on the Great Lakes and bring the
end Of an active season.
Statistics will shortly be compiled
showing the movement Of freight, with
comparisons, and we already know
that of the three great commodities,
grain, coal and iron ore, that make
up so large portion of the lakes
tonnage, the two former have exceed
ed in volume the totals of the preced-
ing year, while the latter will show
falling off. "-@
There has again been witnessed the
annual rush of merchandise to the
lakes just prior to their close, and this
year an enormous season's-end volume
of business was handled at lake ter
minals with less complaint of delay
than usual
The railroads co-operated with local
shippers DESTROYS of taking advantage
of the half water routes while still
the lake and rail tariffs maintained,
and the promptness with which facil-
titles were afforded for moving out a
big freight tonnage was in contrast
ito conditions a year ago, when at times
freight cars were at a premium. In
the city's leading industry production
was forced to fullest capacity. Heavy
loading out of flour had foreshad-
owed a big production, yet weeks
output of 454,150 barrels--an excess
of 10,320 barrels over the former high
r..
ed. The new record not only adver-
tised again to the world the command
ing position Of Minneapolis as flour
producer, but, coming at this time,
when more quiet trade and moderate
business is the report from the coun-
try at large, and leading industries
Except those in eastern shoe-manu-
featuring centers) are producing less.
it stood out conspicuously. 1t drew
the attention of the commercial world,
and fathered the comment that at
least one industry is unaffected by any
general tendency towards recession.
Locally there has been good business
in other lines. Jobbers in seasonable
goods are doing a satisfactory trade,
u,
buying is being felt by the retail trade.
Bank clearings Of 1,S96,232: are sea-
sonably large, attesting a general trade
a little heavier than in the correspond
ing week last year. In this respect
Minneapolis shows up we'll among
American cities.
In the country at large, and espe-
fy, y, CT
the New England states, the interest
of the day is principally conferred in
the matter Of wage reductions. BY
Jan. it is expected the wages of ap-
proximately 100000 employees will
have been cut in some degree. Last
week it was the subject for favorable
comment that these wage-scale revi-
sions have been accepted without de-
muir, and with the further spread
of the movement the situation in this
respect remains unchanged. Some
months ago the disturbing factor was
the labor situation. To-day this is
secondary, and with reference to the
maintenance Of activity in general, the
important considerations are the pros
the probable effect of higher raw ma.
terial upon some important manufac.
turing lines.
A wave of strength is. sweeping the
speculative markets with effects very
surprising. Wheat has been on the
rise, and stocks were up. Coffee, q
neglected commodity, speculatively
dead for two years, experienced a re.
vivaI Of interest and made sharp ad.
vances, while in cotton the enormous
gains in prices were sensational fea.
lures of the week. The cotton rise
showed it's bad effect in an immediate
resumption of the cry of ruinous raw
material prices, for which there has
long been much justification In fact
In efforts to adjust the business t.