Jasper County Democrat, Volume 4, Number 51, Rensselaer, Jasper County, 29 March 1902 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

.. v ~1 “Evidences of further imNEV YOrL provement are numerous. ■' —’ Labor controversies are less threatening, many settlements having been effected, while others are momentarily anticipated; wages have been advanced, not only through strikes, but in some cases voluntarily; traffic congestion has subsided until it is possible .to deliver goods according to specifications; aside from some idle footwear shops, the leading lines of manufacture are very fully engaged, while jobbing trade is of exceptional magnitude. Retail dealings are also very large, the Easter stimulus being felt in all lines of wearing apparel. With domestic demand so vigorous, it to especially encouraging to notice a gain for the last week in foreign trade at the principal ports.” Thus declares R. G. Dun & Co.'s Weekly Review of Trade, and adds: “Pressure for iron and steel has not diminished there perceptibly, yet the impression is growing that after July 1 the situation will become approximately normal, and jt will be possible to secure deliveries with some degree of promptness. This is the more probable, as there has been a further stiffening of quotations and additional importations, which would have been much larger but for the advance in foreign markets. “For some time to come it is probable that foreign commerce exhibits as to this industry will be less satisfactory, but it is worthy of note that imports arc mainly of pig iron, billets and sheets, while the exports of many lines of expensive machinery and other finished products are fully sustained. Large contracts are constantly under consideration for structural material on domestic account, including railway bridges, viaducts, carshops and office buildings. In this respect the domestic consumption this year will far surpass all records. Open weather has brought out a heavy tonnage of merchant pipe.

“ Wheat sold to a new low ChiCdOO. point during the week. a I Rain over the Southwest increased the favorable outlook for winter wheat and liquidation, which had been temporarily checked, again became general. Not everything was bearish. There were some statistical changes and a number of minor items that ordinarily would have had steadying effect, but whatever favorable sentiment arose from continued light receipts at all primary points from decreasing visible supplies and from the fact that wheat has declined 13 cents from the extremely high point of the crop, was more than offset by the good reports of the growing crop. This is the time of year when severe declines in wheat are most to be expected. With the winter wheat growing nicely and spring wheat seeding about to begin, the outlook at this time is certainly very favorable for a heavy wheat crop this year. The grain traders are quick to anticipate. TJiey are now discounting the favorable prospect. At such times sentiment changes about more quickly than ordinarily, and the natural instability ol the market is intensified. Spring jobbing trade continues active. A less pressing demand is noted for dry goods, and there is a subsidence of the rush to have orders filled in some lines, yet new business is large. Wool is firmer, and cotton prices are stationary. The building activity increases the strength imhimber. Flour demands improved and more business was done for foreign account. The agricultural implement manufacturers are an important element in the iron market at this time. Nearly 200,000 tons of steel bars have been taken by them within a short period, and the fact that in some instances enough was bought to cover requirements for fifteen months, is a striking illustration of their faith in the continuance of good business well into 1903.