Jasper County Democrat, Volume 4, Number 25, Rensselaer, Jasper County, 28 September 1901 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

I* ] Now that the last sad act Nei York. in the national tragedy is l I finished the future is anticipated with greater confidence than business interests felt when they were uudir the depressing influence of the shocking occurrence at Buffalo. The purpose of the new executive to carry out the policy of his predecessor means that the country lias undergone a change in Presidents, but not in administration. The latter is always attended with uncertainty. No developments of a disturbing ha- I ture have occurred in the business world. That there will he some hesitation in new enterprises is expected, but bankers have found nothing to create apprehension. As the first evidence of a sentimental or decided influence in the business situation is found in the stock market, all the re-st,ttri-cs of Wall street were used to make the opening prices on Monday auspicious. To that end New York buying orders made the market for American stocks in London a strong one witli a gain of several points. With that start it was easier to bring about the buoyant market with which Wall street began the week. The manipulation was probably one of the greatest in the history of the street. In every field of the country’s work business has proceeded evenly, though quietly, on account of tbe calamity. Thursday was observed universally as' a day of mourning. " j The unfortunate condition CtliMGO. J ,ls the corn crop this year ... . —I was brought forcibly before Ihe country again by severe frosts, which injured the yield a little more. It has now suffered from both extremes of the elements. This damage caused a sharp advance in corn on the Board of Trade on Tuesday, but the whole gain was not held. Chicago houses sold stocks in the New York market on the same day and forced a decline of two or three points in many securities. The money market ii easier in feeling and there appears to be no prospect of stringency. The lieavi-, est. wheat crop ever raised iu the country is being moved without causing tight money rates iu tbe large centers, and country banks still have enough funds to come to the central cities for loans. A small engagement of gold for import from France was announced, but tbe following day foreign exchange was firmer and farther from the point at which the metal can be brought in profitably. The Bank of England has advanced its selling price of gold again to prevent shipments to this country. Germany contributes more failures. The Reicbsbank, which has been relieving the money market by loaning freely, is likely to raise its rate above per cent. Wholesale and retail business has been helped by the early cold weather. A number of mills of the United States Steel corporation have reopened already and uteel products are sold well ahead to next year. The restoration of prices to a normal basis will aid consumption.