Jasper County Democrat, Volume 4, Number 50, Rensselaer, Jasper County, 22 March 1902 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

ITJ I “Business in Boston was NRV lOrk completely paralyzed b.v-th# '■■■— strike of freight handftrs and teaiqsters, which directly affected 30,000 men and indirectly rendered other thousands idle by holding plies of raw material. Fortunately struggle seems in a fair way to sente meat. Outside of Massachusetts, however, the labor situation is exceptionally free from controversy, awl evan in the coal mines there is less than the usual agitation as April approaches. Distribution of spring merchandise is making rapid progress, the most sanguine expe<* tations being fully realized in all sections outside the strike area,” according to R. G. Dun & Oo.’s Review of Trade. Continuing, the report says: “Consumers \of iron and steel product® are still anxious regarding conditions dui" ing the next three months. After July 1 it is believed that deliveries will lie ample. According to the Iron Age the weekly capacity of pig iron furnaces in blast on March 1 had declined to 330,710 tons, or about 10,000 tons from the production on Feb. 1. Considering the numerous disturbing factors at work during the month of February, it is gratifying that a much heavier curtailment of output did not occur.

All records prior to Feb. 1 are still eclipsed and the resumption of many idlo plants this month practically assures new high water marks in the near future, unless some unforeseen interruption occurs. As operations at steel works were'also retarded, furnace stocks of pig iron declined only about 25,000 tons during February. The most important event of the week was the heavy buying of ste<-l bars by makers of agricultural implements in anticipation of higher prices becoming effective on April 1. Billets command large premiums for spot delivery, nnd more purchases are reported from foreign makers. Pipes and tubes are more active ’ Official indications of ClliCdQO. reserves on March 1 , * I were not surprising as to the corn, dealers anticipating that supplies would be only about one-half last year’s, but the statement that 23 per cent of the enormous wheat yield remained in farmers’ hands was not calculated to sustain values. Needed rains in the Southwest made the market look more favorable for the next crop. A sustaining feature was the interior movement of only 2,618,819 bushels, against 3,902,650 last year, while on the other hand total exports from the United States were but 2,598,472 bushels, compared with 4,962,674 a year ago. As to corn both comparisons were striking, receipts aggregating only 1,893,950 bushels, against 4,131,837 a year ago, while Atlantic exports fell to the lowest record for many years, 96,109 bushels, against 8,339,902 in 1901. The corn traders had the government report on farm reserves last week showing 29 per cent, or 384,000,000 bushels, held March 1. This is the smallest on record. It was expected to stimulate new buying by outsiders, but the close Saturday found prices only %c higher than the previous week. No surplus producing State has over 32 per cent, and Kansas only 14 per cent of its crop left. With an ordinary consumption there Is not a surplus bushel, and the high prices will necessitate continued husbanding of supplies to get through tb the next crop. The small farm stocks mean the same thing as last year; we will go into the new crop in the fall with no stock. It is al-4 taken as indicating good prices fur seu eral years to come. The country move* ment is light, receipts last week being only 820,000 bushels, and shipments 814,000 bushels. The movement both ways Is about 50 per cent of last year’s. Farm reserves are as estimated a week ago. 30 per cent, or 198,000,000 bushels, the smallest ever reported. Prices for May are within l%c of the top price, which makes shorts uneasy.