The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-02-20
SEVERE WEATHER
DISTRICTS TRADE
ButManufacturers increase Ca
paclty and Buyers Place
Liberal Orders.

NEW 4OFtks FEB. 19.--R. IT, Dun q
Co.'s weekly review of trade this week
will say:
1nciement weather alone prevents
definite revival of business. Outdoor
work is retarded and traffic impeded to
an extent that cannot be accurately
measured, but is obviously sufficient
to neutralize the favorable effect Of
many encouraging, factors, while win
ter wheat is threatened; although not
yet definitely injured, and early farm
preparations must be postponed. Sew
eral leading branches of manufacture
are increasing active capacity, and
thousands of interior buyers are plac-
Ing liberal orders at the principal
cities.
The usual temporary advantages Of
war are felt in the markets for staple
commodities, notably foodstuffs, but,
while this helps the domestic producer.
1t harms much larger number by en-
hanc1ng prices to home consumers.
There is little friction between en-
ployerS and wage earners, except re-
garding the bituminous scale, but the
cause of industrial peace has lost its
foremost champion. Despite Interrupt
ton by storms, railway, earnings thus
far reported for February were only 4
per cent smaller than year ago. when
there was also much severe weather.
Foreign trade returns for the last week
at this port show an increase of
$1,152,012 In value Of exports, as COM
pared with last year, but imports were
Slightly smaller. Financial conditions
are satisfactory, money remaining
easy and foreign exchange undisturb-
ed by complications abroad.
Confidence Is Shown.
While is appears that the output of
pig iron has increased more rapidly
than the demand, assuring some accu-
mutation of stocks for the month, yet
the mere fact that. the leading inter-
est has now about so per cent Of it's
blast furnaces In operation indicates
confidence in the future.
When spring building operations be-
gin large demand for iron and steel
Is expected, and contracts are soon to
be placed for Baltimore work. A
large tonnage of fails, is announced,
and bids are under consideration for
terminal improvements and rolling
stock, the railways recognizing the
need OF avoiding any further delay.
Ease In the money market has made
II possible to secure funds. There Is
still uncertainty regarding the ore sit
uat1on, producers failing to agree, and
a committee has been appointed to
settle the disputed points, if possible.
Cotton and coffee lost more of the
recently inflated quotations and specu-
lative activity fell to a normal condi-
ton.
Domestic spinners have taken more
freely, but exports have fallen below last
years figures. The statistical position
Is generally considered to warrant
prices at IL or 10 cents. Wheat attain
ed new high records, May options ris-
ing to about 81 at this city for the first
time since the Letter corner In 1898.
Minor cereals were also forced to much
higher prices, followed by irregularity
as profits were taken.
g Foreign Trade .QpensiAVeIE. @aaa
Foreign trade Started the new year
most satisfactorily, as shown by official
returns for January. Two factors con-
tributed to swell the value of exports,
preparations for war in the. Orient and
high prices AfOr farm STAPLES Exports
were valued at $f41,66S,4S3, against
STA, 819,566 in December, and $133.992.-
-26S IN the corresponding months last
year. = q
Exports in the opening month of the
year are always smaller than in De-
cember and, moreover, the present COM
parison is being made with a month
that far surpassed all records. No pre-
hibit as last month. Imports were val
ued at $S2.619,449, compared with $77,-
767,992 in December, and $85,174,786 in
January, 1903. On merchandise ac-
count this nation increased its credits
abroad to the extent of $59,044, O34, sill
yer exports amounting to $2,008, 755,
while net imports Of gold were $7,633,-
941, leaving balance on all accounts
of $53,418,848. Ilapprts of gold for the
last seven months were exceptionally
heavy, $59.517, 1861 pmpared with $780,
01O,824 in the previous year.
Liabilities of commercial failures thus
far reported for February aggregated
$5,S44,692, of which $2,004,911 were in
manufacturing, $2,515.179 in trading,
and $824,602 In other commercial lines.
For the same period last year liabilities
were $6,S64,2S5 Failures this week
numbered 267 in the United States,
against Eat last year, and 20 in Canada,
compared with 26 year ago.