The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-11-14
GENERAL BUSINESS
SHOWS INCREASE
Some. Pessimism Prevails, but
1t Cannot ObIiterate the.
Encouraging Signs.

NEW YORK, Nov. -Bradstreets
tomorrow will say: Quietness and
even repression govern general trade
and industry, but prevailing pessimism
cannot hide the fact that some really
encouraging signs are visible. Taken
as whole, general business this week
is rather larger, due to the expansion
in retail trade at the Northwest, where
it is favored by cooler, settled weather,
and at the South, where an enormous
quantity of cotton Is being marketed
at excellent prices. Wholesale trade is
still quiet as a whole, awaiting devel-
opments in price and demand. Export
trade seemed to be at last expanding.
Exports of leading products aggregate
the second largest total ever recorded
in October.
A fact that has not been given full
weight is that there are now here such
great accommodations of stocks as
threaten sacrifice of values. Indeed
buying has been conservative for some
time past. Hence it is that. despite the
weakness manifested in iron and steel,
stocks of pig iron in the aggregate are
little more than ten days produc-
ton, and the authorities are asserting
that present quotations represent rock
bottom values. Another example of
this is noted in the leather trade. stocks
of which at leading centers are said to
be well restricted.
Pig iron, though no more active, is
in better tone. A reduction of freight
rates on steel from Pittsburg for eX-
port has been granted by the railroads.
| Other metals show downward tenden-
| cies.
Chief of the depressing features
| brought to light this week are the re-
| ports that finished steel products have
been cut, that wages of iron and steel
and cotton mill employees must come
| down and that some new strikes. nota-
| bly, a general shutdown of Colorado
| coal mines, are menac1ng far Western
| manufacturing and railway activity.
| On the other hand, the fact might just
as well be faced that high prices have
checked demand; that manufacturers
| of iron and steel believe that the de-
| mand can be revived if price conces-
| sions are made, and that the wage re-
auctions are calculated to render this
! policy more effectual, notwithstanding
! that decrease in earnings and con-
| sumptive power results temporarily.
The lumber market is irregular.
| Building activity is favored by the late
| favorable fall. Coal is rather dull.
Eastern shoe shipments are still heavy.
| Print cloths have been dull and I'M
| settled, and the claim is made that
| cloths and coarse cottons are selling
| below cost of production.
Wheat. including flour, exports for
! the week ending Nov. IL, aggregate
| 3,659,S2 bushels, against 4,340,2S1 last
week. 4,44016 this week last year,
| 4,9S9,734 in 1901, and 4,S62,000 in 1900.
| For nineteen weeks of the cereal year
| they aggregated 51,9O1,751 bushels,
against 99,979,6S9 in 1902, 112,657,226 in
| 1901, and 67.446,59 in 1900. Corn ex-
ports for the week aggregated 1,6SS,282
bushels, against 1,459,936 last week,
| 281,901 a year ago, 629,924 in 1901, and
| 3,976,914 in 1900. For nineteen weeks
| of the present cereal year they aggre-
| gate 21,590,959 bushels, against 2,144.799
| in 1902, 16,583,550 in 1901 and 81 1881, 701
| in 1900
| Business failures in the United States
! for the week ending with Nov. IL num-
Der $50, against ZIG last week. 2O5 in
| the like week of 1902, 213 in 1901, 227
in 1900, and 1869 in 1899. In Canada
failures for the week number IS, as
against 10 last week and 10 in this
week a year ago.