Jasper County Democrat, Volume 3, Number 13, Rensselaer, Jasper County, 7 July 1900 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

New York—Reports of declines in commodity prices continue to come in, and there has been soihe falling off in the volume of business. The months of July and“ f August always have been a comparatively dull season in nearly all lines of trade. The fiscal year of the Government has ended, and advices from Washington state that experts estimate that exports of merchandise will reach the enormous total of $1,400,000,000, an increase of $173,000,000 as compared with the preceding year. In the stock market the situation is still one that tends to conservatism. Buying orders are being held back because of the presidential campaign, the reports of crop damage and the Chinese complications. The prevailing idea now is that the market will continue dull and rather narrow for several weeks. Chicago—The speculative fever in the wheat market gave no sign of abatement during the week, although the trend of prices was reversed and the previous week’s advance all but obliterated. The pace had been too fast, and, alarmed over the probability of future scarcity, the operators figuring on a/rise lost sight of the present plenty. Because of the latter condition the speculators lacked the assistance of the millers and shippers, who on the eve of deliveries from the new crop were naturally desirous of awaiting the effect Upon the market of the early movement before buying more than was necessary for their immediate wants. There would appear to be no remedy for the shortage of spring wheat except such economy in its use as must come from higher prices. But it is not likely that speculation will do much more toward the application of this remedy until the test of experience from diminished supplies has been applied and shall give clearer indications than al present exist of their actual necessity. Unless the present information concerning the crops of Europe proves to be wrong, the importing nations will require as much wkcat from this side as they took during the crop year now about to close. That such a quantity can be supplied at any such prices commanded for the previous crop is out of the question. Corn hung in the balance between the influences es reported small reserves of old corn and a favorable week for the growing crop.