Jasper County Democrat, Volume 4, Number 52, Rensselaer, Jasper County, 5 April 1902 — COMMEPCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMEPCIAL AND FINANCIAL

FT “ ' I “Favorable weather greatIwV I Oil. facilitated Easter retail I 'trade, the volume of transactions in all lines of wearing apparel being of exceptional magniture. Activity was by no means restricted to the specialties, however, the general distribution of merchandise exceeding that of previous seasons, with prices well maintained. A distinct evidence of the vigor of legitimate trade is found in the decline of only 21.4 per cent in bank exchanges at New York, notwithstanding the fact that transactions at the Stock Exchange were not more than a third of those in the corresponding week last year, while nt other leading cities clearings exhibited a gain of 9.8 per cent over last year and 31.5 per cent over 1899.” R. G. Dun’s weekly Review of Trade thus sums up conditions. The review continues:

“Demand for an eight-hour day after May 1 by the blast furnace men was the most disturbing feature in the iron and steel industry, and this is not causing much alarm, as an agreement will probably be reached during the intervening month. Production i» now beyond all previous records, and the movement of coke is ample, although the early opening of lake navigation may withdraw some of the transporting facilities, which cannot well be spared. Buying has been notably active in bars for implement-makers, and producers have sold their entire output so far ahead that new business is not sought. Aside from the advance in bar iron at Pittsburg to SI.BO and foundry iron at Chicago to $18.50, there are no important price changes,, Southern furnace products having decided to postpone the contemplated advance. “Failures for the week numbered 205 in the United States, against 206 last year, and twenty-two in Canada, against twenty-nine last year.”

—~l Navigation will soon be in CbiMOO. fuJl blast on the great * I lakes. This is much earlier than the average opening and the lake carrying trade will have th# advantage this year of an early start, and a longer season. The grain movement from the head of the lakes eastward, will probably not be as heavy as in some years past, but it will be of large proportions. The ore carriers have a good year in prospect. A marked feature of the week has been the demand for building material and everything accessory thereto. Lumber is in continued active demand and prices are very firm. The hardware trade reports the best week of this year, with the outlook favorable for increasing business from now on. Advances have been made in many of the leading lines of food products, especially in meats and provisions. Jobbers report a general lessening of demand and a lighter run of orders, which is natural in view of the recent activity in all jobbing lines. This activity has passed for the time being into the retail trade. A good winter wheat crop will mean much for the southwestern railroads and for the entire stock list. Any adverse turn in conditions calculated to cut the wheat yield materially, would, it is believed, have immediate depressing effect, especially in the stocks of those roads that had to stand the brunt of the corn loss in last year's drought. To date everything is propitious. The acreage is larger this year than last. Abundant rains have fallen, and in general the condition is satisfactory. There is talk of a bull market in stocks when the crop shall have gone far enough along into maturity to make such a movement safe, but the most critical period has yet to come, and for the next few weeks the stock market will hang on the crop reports. The grain markets show the same weak tendency, and it is impossible to stir up any bull enthusiasm in the face of the favorable winter wheat crop reports.