Jasper County Democrat, Volume 3, Number 5, Rensselaer, Jasper County, 12 May 1900 — COMMERCIAL AND FINANCIAL [ARTICLE]

COMMERCIAL AND FINANCIAL

New York.—There have been further shipments of gold this week, but money rates continue easy and the outflow of the metal has had no appreciable effect on the situation. Even the stock markets have almost entirely ignored the matter. Money in New York is being freely offered as low as 4 per cent on loans running the rest of the year. Call money in Wall street has this week loaned below 2 pef cent, and the Chicago banks have voluntarily reduced their rates from 5 to 4% per cent. The stock markets have been dull and narrow. Throughout the week the movement has been unsatisfactory to both the bull and bear interests. Neither side has shown any aggressiveness, and the consequence is that fluctuations have been too small to permit of much in-ahd-out trading. Chicago.—Speculative dealings on the Board of Trade were of fair volume and more than average activity in all the chief markets, with the one Important exception of wheat, which was for the most part dull. Fluctuations in the latter were confined to a narrow range. From such a showing it is clear that speculative feeling is not far from being evenly balanced between bulls and bears. That is likewise further attested by a remark heard frequently from both sides, and as often from the one as the Other, that they can see “nothing in the market.” The equilibrium might easily be upset by any one of quite a number of possibilities. The world has still to live three months on last year’s crop, and from the present outlook and rate of consumption commercial. stocks are likely to be reduced to a point that might of itself threaten serious loss to short sellers. The season in Europe is late, nnd consumption might be prolonged thereby somewhat beyond the usual time. In addition the prospect at present is for a poor crop in France and n deficient yield in the United Kingdom. Perfect conditions for thr home crop in the Southwest are minimized so some extent by the poor outlook in several of the important wheat-growing States of the central winter wheat «rea. Accidents may happen where the crop is now the most promising, and the ravages of insects in the already infested districts are, from recent information on the subject, rapidly spreading into fresh territory. Anything is possible of the spring wheat crop. The priie of wheat is low; cautious men are not selling it short. The advance in corn and provisions has been, checked nnd both have suffered some depreciation in value,