Jasper County Democrat, Volume 3, Number 15, Rensselaer, Jasper County, 21 July 1900 — COMMERCIAL AND FINANCIAL [ARTICLE]

COMMERCIAL AND FINANCIAL

New York—Clearing honse figures indicate that while the volume of business of the second quarter was not quite up to the reed'd for the first three months of the year, a comparison with the corresponding period last year shows an excess in favor of 1900. The decrease of nearly 20 per cent in the New York clearings is said to be due principally to the falling off in financial operations incident to the flotation of new industrial undertakings. Outside of New York the payments through the banks for the six months ending June 30 show a gain over the same period in 1899 of V/j per cent. The West makes a much better showing than the Bast. In the middle West there has been a gain of over fl per cent, in the far western group of States a gain of over 19 per cent and in the-Pacific States a gain of nearly 13 per cent, l’n New York City and the New England group of Stales important losses are shown. New England has fallen behind 11% per cent for the half year. The character of the trading on the stock exchanges has shown no change. Chicago—Considerable activity in the speculative branches of the grain and provision markets during the week indicated the interest still being taken by the general public in the commodities thus dealt in on the Board of Trade. The unsettled state of speculative opinion regarding the various estimates of the sufficiency or otherwise of this year’s crops was suggested by the frequency and at times violence of tho fluctuations. The nej, result, however, of the trading in wheat and corn comparing tlte prices Saturday afternoon with those prevailing at the end of the previous week, was that they did not materially differ. The Government crop report gave such a poor account of this season’s wheat crop aa to put fresh vigor into the buying of that commodity the day after it was issued. But private crop reporters and statisticians were sneoressfui in raising doubts in the minds of many in the trade as to the accuracy of tlte Government estimates, making claims of a much heavier total production than the figures of the Government experts suggested. If the highest Of the private estimates—that of the Cincinnati Price Current—should ultimately be accepted by the trade, ns it has been already by the grain statisticians abroad, then present prices will probably be found as high as importing nations will be required to pay for our export surplus. The success of this season’s agricultural operations is now’ hanging in tho balance, and largely depends on the suitableness of the weather for the best results to the corn crop. Certain parts of Kansas and Nebraska have suffered somewhat already from exoesnive heat and drought, but the territory thus affected as yet is not extensive, nor is the damage considered so severe as to be incapable of repair by timely rains and more moderate temperature. t •