Jasper County Democrat, Volume 5, Number 14, Rensselaer, Jasper County, 12 July 1902 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

"Tj Z 71 Quiet conditions have prefl6W IOrK. h'ailed iu most branches of ’business, especially in those markets already affected by labor disputes. Large interest payments testify to the prosperous condition of railways, Industrial corporations and financial institutions, and, aside from the labor troubles, the half-year just ended was remarkably satisfactory. Railway earnings for June exceeded last year’s 6.4 per cent and those of 1900 by 19.9 per cent.” The foregoing is from the weekly review of R. G. Dun & Co. It continues: /Jn the iron and steel districts there have been no. developments of importance. Leather is dull and hides are weak. Iu the textile markets the cotton goods sold freely at recent concessions e*hl the tone was steady, while woolen mills ate more actively engaged and buyers are in the eastern markets for raw material. The general level of grain prices i* higher for the week, especially corn end oats. Eastern markets reflected the strength, but did not share the activity. Both receipts and exports have been light, wheat arrivals amounting to only 2,4(53.393 bushels, against 2,889.990 last year, and exports from all ports of the United States were 2,724.639 bushels, compared with 2.870,103 in 1901. Cotton prospects brightened with rain in the Southwest, yet there was no weakness. Commercial failures in the first half of 1902 numbered o.iiis, with liabilities of $60,374,85(5. Although this is an increase of $4,579.1(5(5 compared with last year and $18,311,923 more than the exceptionally favorable record of 1899. it is necessary to go back fifteen years to find another more gratifying showing than that of 1902. Despite a few exceptionally heavy failures in British Columbia. total liabilities in the Dominion of Canada for the first half of the year were only $5,739,451,- against $5,530.92*5 last year, while the number of defaults, 610, compares favorably with ail recent years. “ July corn passed wheat iD UliCaCO. * ,s ui’ WHr d movement last week and corn traders are as much at sea as to what the Wall street bull clique intebds doing as they were a week ago. Last the bull clique more aggressive and the July price move up from 70*2 to 78c.. fall to 73*4c, and again advance and finish at 77c, a gain of B%e f<>r the week. The bulls have all the advantage. The conditions could not be more favorable if they were made to order. The wet weather over the entire corn belt has cut down offerings by farmers so that even the high price laa failed thus far to bring out a large quantity of corn, and last week’s arrivals were only 731,000 bushels. There were many conditions in the wheat market last week that made it favorable to the bull. The most important was the weather. It was too wet over the greater part of the Southwest, following the rains of the previous week, The trade assumes that after the long spell of bad weather there is to be a change for the better. If it fails to come there will be a loss of a considerable proportion of the crop. So far, there has been some damage to the quality, but the loss of quantity has been slight* The cattle market was nominally unchanged, about two-thirds of tho arrivals the closing day of the week being Texan's billed direct to packers. Hogs advanced sc, sheep ruled steady, and lambs sold a little higher. Top piriees for the week were as follows: Native steers. $8.50; Texas steers. $7.65; heifers, $7.25; bulls, $6.00; hogs, lambs, $7.40, and sheep, $4.75. Receipts the past week, compared with the previous week, decreased 4,500 cattle, 47,300 hogs and 3.500 sheep. Compared with the corresponding week a year ago, there was a decrease of (500 cattle and 1,400 hogs,, and an increase of 13,500 sheep.