Jasper County Democrat, Volume 3, Number 21, Rensselaer, Jasper County, 1 September 1900 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

New York—There has been very little actual change in the situation during the last week. Prices are still somewhat irregular, for the reason that in certain lines, notably in iron and steel, readjustments are still in order. The'belief prevails— however,- thnt vahies —generallyhave touched the lowest marks for some time to come. Railroads th rough out_the country continue to make an excellent showing'in the matter of earnings. This is particularly true of the Western lines. The bank clearings also indicate that the volume of general business is being well maintained. So far as the stock market is concerned, it seems to be the consensus of opinion that securities will ultimately reach a higher level of prices. As a rule, even tire bears concede that as to the immediate future opinions are not quite so unanimous. The market is evidently under control of the large interests. and yet in view of the crop uncertainties and the political campaign, it is perhaps not considered good judgment to start a sustained upward movement at this time. Chicago—The wheat market evinced considerable strength last week, the firmness being for the good and sufficient reason that in the markets of the importing countries American wheat was underselling the product of its competitors. Proof of this was the heavy purchases made here for foreign account. Besides the foreign demand as an aid to the market the unfavorable weather was a drawback for securing the remains of the drought-strickmi spring wheat crop of North Dakota and nortliern Minnesota. Tlie rain that was withheld during the period of the plant’s growth, when moisture was of vital importance, lias recently been pouring in floods, just at the time when dry weather was urgently needed for the in-gathering of what the previous drought had left.. Morq than the usual ill effect of a wet harvest has been experienced because of the necessity of using mowers and headers in cutting the grain this season on account of the shortness of the straw. The heads of the grain thus cut. gathered into heaps in the lieldSi-liave been subjected to the most injurious effects of incessant rain, accompanied by a high degree of temperature. the result of which, according to numerous well authenticated from the suffering territory, has been the rendering unfit for milling purposes of a large portion of the wheat which had been saved from the drought. The full effect of the last-named addition to the original calamity in the Northwest has not yet been experienced in the market. The rain that has been playing havoc with spring wheat came in the nick of time to benefit corn, the price of which failed to maintain to the end the buoyancy that marked the trade early in the week while the bad effects of continuous drought were still being feared.