Jasper County Democrat, Volume 5, Number 9, Rensselaer, Jasper County, 7 June 1902 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

~—' — “Ease in the money marNBI IOrL ket > favorable crop pros- '■ and confidence abroad are the encouraging factors which outweigh the disturbing elements of labor conflicts and unseasonable weather for retail trade at many points. Effects of the depressing influences are less keenly felt because they are believed to be only temporary, and confidence is expressed that, with the resumption of work and normal temperature, there will be a return to the liberal distribution of merchandise. Despite the short corn crop last year, the large yield of wheat and high prices for both resulted in the greatest value for the two crops ever recorded, which means that the agricultural sections are prosperous, and other industries must share the good fortune by increased sales of products. Collections are prompt as a rule, and payments through the principal clearing houses are well maintained.” The foregoing is from the weekly trade review of R. G. Dun & Co. It continues: Notwithstanding diminished speculation, there was an increase of 1.2 per cent at New York, compared with last year’s exchanges. Returns as to transportation show t’n.it losses in grain movement are being more than made up elsewhere, railway earnings thus far reported for May showing a . gain of 6.5 per cent over last year aud 19 per cent over 1900. Efforts to place contracts for £OO,OOO tons of pig iron, deliverable lu the second quarter of 1903, indicate the confidence of the leading consumer as to the future of this industry. There is no cessation of activity at the mills, and finished products nre forwarded to importunate consumers as rapidly as possible. Failures for the week numbered 194 in the United States, against 148 last year, and 20 in Canada, against 27 a year ago. ~ The continued favorable ClliCdCO. weather and reports of crop \ * I conditions promising heavy grain tonnages for the fall have been stimulating to western railroads, and these securities have led in strength on the New York Stock Exchange. Traveling salesmen report demands for staples in the south and parts of the southwest a little lighter and orders are moderate. In the northwest there is no decline, country merchants reporting a continued active demand and jobbers finding business good In all lines. An improving demand is reported for refined sugar. Hides, leather and textiles have ruled fairly steady with strength in some grades. A favorable feature is the ease with which collections are made. Leading jobbers and manufacturers, the country over say they have rarely seen money more plentiful in the country and little difficulty is experienced in getting it in when due. Kansas has 3,895,000 acres of wheat according to the report of the State agricultural bureau. This is a material reduction from the 5,951,000 acres original ly seeded. The wheat acreage abandoned or plowed up has been put to corn. Whatever encouragement might have been drawn from this, or from the continued strength in the northwestern cash wheat situation, was more than offset by the favorable growing weather and good outlook for the new crop. The northwest has had a week that, taken all around, could scarcely have been better for all agricultural growth. It is not in wheat alone that the promise is good, but in all grains, and on the dips iu prices of corn and oats futures, wheat has been quick to follow. There are a number of things in the statistical and supply figures that are certain to prove strengthening ultimately, but they are of no effect now. While the European crop outlook remains good, foreign buyers hold off. and weather conditions at home are so very favorable there will be little chance for any material adzance in wheat.