Jasper County Democrat, Volume 5, Number 3, Rensselaer, Jasper County, 26 April 1902 — COMMERCIAL AND FINANCIAL [ARTICLE]

COMMERCIAL AND FINANCIAL

“ ~ ~j “Weather conditions have Nev IOFK. been .potent for good during the past week. Retail distribution was greatly accelerated, which in turn enlarged jobbing trade and brought more pressure on manufacturers for prompt shipment; agricultural work was facilitated and building opera* tions made rapid progress; traffic increased at the interior as the condition of country roads improved, which made collections better. Some labor controversies were settled and others wete averted. Complaints are still heard regarding tardy deliveries, but freight is less congested, and business has increased to the extent of 6.9 per cent, larger railway earnings for April thus far than last year, and 16.3 per cent over 1900,” according to It. G. Dun & Co.’s Weekly Review of Trade. Continuing, the report says; “Quotations of iron and steel cannot yet be considered inflated, but the market is following a natural course, despite the efforts of leading interests to maintain a conservative position. Supply and demand must in the long run govern prices, and in this industry needs are greater than available stocks, although productive capacity has largely expanded. “Pressure for pig iron is very great, but furnace men have contracted for their output far Into the future, and consumers who want prompt delivery are willing to pay premiums. Similarly as to steel rails, the regular price of ?28 has become nominal on current business, an advance of $5 a ton being readily paid for immediate delivery. This is especially noticeable on urgent trolley construction. Specifications for new buildings promise abundant additional contracts for structural material, while some mills have already sold their entire output for 1902. Machinery and hardware lines share in the exceptional activity, and are doing a brisk export business in spite of high prices. ’’Cotton goods have not followed the fluctuations in the raw material, although its strength has contributed to the steadiness of the finished product. The feature of the week was the Increased inquiry for export, and mills catering to this trade are sold far into the autumn. In the domestic trade many bids slightly below ruling prices were not considered, and it is evident that supplies are in strong hands. Deliveries are being made more promptly, yet there is no fear of accumulation.

“Woolen goods are in less urgent demand, purchasers having secured most of the cloth which the American company was unable to furnish owing to the strike. Buying of dress goods has decreased, and jobbers are beginning to go out with fall lines. “Footwear shipments fr>rn Boston have decreased, but jobbers are placing orders for fall and the shops are fairly well occupied. Shoe manufacturers are buying leather more freely, holding prices fairly steady, except for hemlock sole, which lost half a cent. “Grain and meats have continued very strong. There was some logical explanation of the advance in corn, interior receipts falling to 857,000 bushels for the week, while Atlantic exports rose to 884,003 bushels, an unusually large total for recent times, although small by comparison with the corresponding week in preceding* years. Wheat was sustained by exports from all ports of 4,485,352 bushels, flour included, against 4,613,891 a, year ago. " “Cotton attaint'd a higher price, Southern markets leading the advance on decreasing port receipts and a good demand from spinners. Sugar and coffee have been notably weak, the latter falling to within a sixteenth of the bottom record. “Failures for the week numbered 261 In the United States, against 206 last year, and 24 in Canada, against 21 a year ago.”