Jasper County Democrat, Volume 2, Number 50, Rensselaer, Jasper County, 17 March 1900 — BUSINESS SITUATION. [ARTICLE]

BUSINESS SITUATION.

fMctpi Correspondence: Money has been working a trifle closer lately as a result of the diminishing bank reserves in New York, but general biffdnesa remains at high water mark. Not only is domestic consumption still on ar large scale, but there seems to be an increasing foreign market for aii raw materials as well as for manufactured goods. Europe is taking American Iron, coal and copper in greater quantities, and the expert demand for cotton is such as to be a decided factor in the weakness of sterling exchange. Cotton is higher now than at any time since 1892, and this fact necessarily tends to create optimistic sentiment in the Sooth. * The stock markets, however, continue dull in the face of these trade conditions. Trading is almost entirely of a professional nature, and the price changes are for the most part insignificant. In the case of a few speculative stocks special conditions have operated to bring about decided movements, but, taking tbe list as a whole, the changes as compared with a week ago are smolL In the opinion of experts the situation is not likely to untlergo any material change until something more definite is known regarding the operation of tbe new currency law. Speculative dealings in wheat were on a moderate scale dnring the week, and with iittlo effect on the price of that commodity. The contentions of the opposing parties in the market have come almost face to face for their nsnal spring struggle, and neither side seems willing to yield a foot of gronnd. The enormons crop of Argentina, the coming of which was foretold last November, and which has been in diligent use ever since as a veritable bugbear to frighten bulls, is now being shipped at eve® a heavier rate than was expected. Every week when the export figures to European ports are made known the bears use them as an additional argument for lower prices, without regard to the liberal use previously made. Europe appears, however, to be in sore straits for immediate supplies, which shipments now being made from Argentina arc powerless to alleviate. Chicago being the nearest market from which Liverpool can draw to supply pressing wants, a demand from that port toward the end of the week created a diversion in favor. of the bulls which went a long way toward counterbalancing the effect of heavy Argentine shipments. Corn displayed greater firmness than wheat, its closing price Saturday afternoon showing 1 cent a bushel advance as compared with its value at the end of the previous week. There is plenty of corn coming forward to supply all requirements, but some heavy speculators continue to buy it with such freedom for May and July delivery as to suggest the faith that eonies from knowledge of the ultimate insufficiency of supplies nt present prices for more distant requirements.