Jasper County Democrat, Volume 5, Number 19, Rensselaer, Jasper County, 16 August 1902 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

Tj ~ r~| “Bright prospects in ag» MW IOrK. ncultural sections,far outweight the adverse Influence of labor disputes which are still retarding trade and manufacture. Confidence in the future is unshaken, dealers everywhere preparing for a heavy fall trade, while contracts for distant deliveries run further into next year than is usual at this date. Activity has been noteworthy in lumber regions, and fish packing made new records. Railway earnings are fully sustained, the latest returns showing an average advance of 3.9 per cent over the corresponding time last year, and 21.8 per cent over 1900.” R. G. Dun & Co.’s Weekly Review of Trade makes the foregoing summary of the trade outlook. Continuing, the Review says: “Aside from the fuel scarcity and some congestion of traffic, the iron anJ steel situation continues propitious. Coke ovens in the Connellsville region maintain a weekly output of about 250.000 tous and find ready buyers at full prices. Much more could be used to advantage. Conditions are indicated by the number of orders going out of the country which domestic producers cannot undertake. Thus far the imports have had little influence on domestic prices, except as td billets, which are freely offered beloW the home market level. New contracts for pig iron were placed this week covering deliveries in the second quarter of 1903, and structural material is desired for bridges and buildings that will not be received until even more remote dates. “Splendid growing and harvesting conditions have prevailed in most sections of the country, especially where the larger and more important crops are raised. It is now almost certain that the agricultural returns will be far above the average as to quantity, while the low stocks at the opening of the season are calculated to sustain prices, and there is iittTe prospect of a return to the low quotations of preceding years of bumper production.

7~ The week was marked by CDICaOO. il Bain * n a 'l western raila I road traffic and an increase in the volume of west-bound tonnage. This means the beginning of the period | of active buying that has been predicted ever since it became evident that this would be a good crop year. In the Northwest the harvest is practically made, and conservativeness and hesitation through fear of possible eleventh-hour calamity are giving way to confidence mid a desire for further business expansion. The West has begun buying heavily and ip taking a full share of luxuries. The unusually large proportion of high-class freight carried, with its wide distribution, is highly gratifying to western railroad management. This western prosperity has been the keynote in everything of comment upon the general business 1b the country at large. Some 300 locomotives were added to the equipment of the Great Northern. Northern Pacific and Soo roads during the year. The facilities for handling the Northwestern crops are materially increased over last year, yet even with this there is more concern lest the roads be unable to handle everything with promptness usually demanded by shippers. There will certainly be more tonnage this year than ever before and there is the opportunity for railroad earnings in the Northwest surpassing every previous record by far. The grain trade is waiting for an estimate of the Northwestern whejt yield. Wheat prices, meanwhile, have been on sharp decline under influence of the favorable crop news. Looking over the whole field, everything in sight at present seems bearish. Statistically there are some things favorable to wheat and while they are naturally ignored at this time, they may be important later. For one thing, the world’s visible supply of wheat now stands at only 47,376.000 bushels. A year ago at this time it was 71,920.000,000 bushels; two years ago 89,888.000 bushels, and three years ego, 90,192,000 bushels.