The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1903-10-16
review OF THE
TRADE SITUATION
No Important Developments in the
Commercial World During
the Past Week.
MORE CONSERVATISM SHOWN
AMONG The MANUFACTURERS
Have Been More Cautious, as Whole,
in Making COntracts-Uneas iness
Regarding the Financial Situation
Growing Less-SituatiOn in Iron
and Steel Industry.

New York, Oct. 12.-R. G. Dun &
Co.'s weekly review of trade says:
There have been no developments of
Importance in the commercial world.
AS a rule there is more caution in
making contracts, especially among the
manufacturers. Uneasiness regarding
the financial situation recedes as the
season advances without producing
any monetary pressure in connection
with crop moving. The proposed re-
duction in pig iron output has been en-
dorsed by all leading producers,
steadying prices just when changes in
freight rates started another reduc-
ton. Other manufacturing news is
favorable, except where the raw ma
terial markets are unsettled or labor
struggles cause troubles. Suspension
of an iron plant was attributed to the
latter cause and the movement OF cot
ton at New Orleans also suffered be-
cause of a strike.
Iron and Steel.
Reduced dividends and curtailed
production in the iron and steel indus
ing and that there is no disposition to
disguise the fact that business is not
progressing without Interruptions. Yet
there is nothing alarming in the sit
uation, and a few years ago the con-
tracts now in sight would have assured
full occupation for all plants. Prices
receded as it became apparent that the
industrial boom was interrupted, and
it is now found desirable to shut down
plants not thoroughly equipped
Failures this week numbered 239 in
the United States, against 245 last year
and II in Canada compared with 81 a
year ago."
Bradstreet's says: TRADE conditions
are still irregular. Business is of fair
volume, but not so active as year ago,
partly because of the backward season,
heavy rains interfering with crop move
ment and collections vexatious labor
troubles, past and present, discouraging
building operations, and the spread OF
the conservative feeling among buyers,
based upon stock market liquidation
and the feeling that high prices of many
products will tend, if it has not already
done so, to automatically check con-
sumption. Many underlying conditions
are, however, still favorable. First in
Importance should be reckoned the de-
cidedly better tone of advices from the
corn crop, which has developed larger
yield and better quality than was
earlier deemed possible. Special in
quiry by Bradstreet's points to yield
of at least 2,250,OO0,0O bushels of a
grade generally far superior to that Of
year ago.
As Seen by Bradstreet.
~The best trade advices come from the
southwest, notably at Kansas City and
st. Louis; from the western sections,
such as Nebraska and Iowa, where corn
is turning out better than expected;
from the Pacific coast, where trade is
still unqualifiedly good despite the slow
ness of new wheat and other crops to
such as the Mississippi valley, where
present prices for cotton offer a good re-
turn for fair yields. Heavy rains have
interferred with threshing of spring
wheat in the northwest and retarded
trade and collections, while weather at
the east has also been unfavorable to
trade, reduced at some large cities by i'm
paired buying ability growing out of
strikes"
Goodness Prevents Catastrophe.