Jasper County Democrat, Volume 3, Number 4, Rensselaer, Jasper County, 5 May 1900 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

New York.—So far as legitimate business interests are concerned the feeling of .nervousness occasioned by the recent closing of several steel mills seems to have worn away. The iron aud steel trade itself is still in a somewhat unsettled condition, however.♦ The export trade is still large, and earnings of both railroad and industrial companies continue to compare favorably with last year. The stock markets hare been irregular. Trading has been largely professional in character, the public showing little disposition to take the long side so soon after the shake-out. There is also a feeling that with the approach of the time for opening the presidential campaign there will come a further material decline in prices. The money markets continue easy. Call rates in New York have been quoted at 2 to per cent, and there is an abundance of time money obtainable at 4 per cent for the year. The Chicago rates also have been shaded this week, 4% per cent being now generally quoted on call loans. Chicago.—The most noticeable feature of the grain markets during the week was the marked change of sentiment as regards wheat. For some time back the feeling generally hfts been bearish. Crop prospects have been most cheery and with the time for May deliveries drawing near it has been felt that the natural course t>f the market was downward. Thusrsday the first evidence of a change in sentiment was shown when France was found to be in such a disastrous condition regarding her crops. Her minister predicted that because of' injury from various causes the country would be compelled to depend upon foreign sources for upward of 32,000,000 bushels. Despite optimistic reports of growing crops it has been known all along, that Michigan, Ohio and Indiana were below normal condition. Kansu? Is complaining of chinch bugs and in some parts of the State the Hessian fly has appeared. Liverpool has been bearish, but reports that Argentine arrivals from the interior are falling off. Because of the, uncertainty of the conditions trade has. been quiet. The price of wheat is about 13 ceLts below the average, hence there ia no great inducement to sell. Corn continues to show the firm undertone that has characterized - that market for so long. Too much rain has fallen to be of benefit to the crop, the truth being th.it planting has been hindered considerably by the wet weather. Stocks are light and there is good demand for the article, especially from across the water.