Jasper County Democrat, Volume 5, Number 25, Rensselaer, Jasper County, 27 September 1902 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

“ J “Domestic trade continlOrk. ues act * ve , high rates for money having thus far failed to check industrial operations or unsettle confidence. Stringency is considered only temporary and chiefly of importance to speculators, while large imports of gold promise relief. Crops are making encouraging progress, despite some injury from frost. Labor disputes are few, the anthracite coal strike being the only one that retards progress, and each week shows some increase in output. Fall distribution of merchandise has begun unusually early, while the volume of orders already placed indicates much the heaviest aggregate on record.” The foregoing is from the weekly trade review of R. G. Dun & Co. It continues: At the South and West conditions are especially favorable, shipping departments working vigorously, and payments are promptly made. Traffic congestion causes complaint, yet railway earnings thus far available for September show a gain of 4.9 per cent over last year’s returns, and 15.7 per cent over 1900. Official returns of foreign commerce during August show the improvement in exports over the two preceding months that was indicated by weekly movement of merchandise and staples, and imports far surpass the corresponding month in preceding years. This liberal buying in foreign markets testifies to well-sustain-ed domestic consumption, particularly as to iron and steel, > Failures for the week numbered 199 in the United States, against 157 last year, and 25 in Canada, compared with 20 a year ago. Bradstreet's says: Wheat, including flour, exports for the week ending Sept. 19, aggregate 5,435,823 bushels, against 5,444,142 last week, 6,840,574 in this wek last year, and 8,535,857 in 1900. Wheat exports since July 1 aggregate 55,537,065 bushels, against 72,181,845 last season and 38,519,690 in 1900. Corn exports aggregate 49,508 bushels, against 91,512 last week, 611,258 last year and 2,134,205 in 1900. For the fiscal year exports are 980,859 bushels, against 12,132,934 last season, and 39,791,241 in 1900.

The railroads of the West LUICdQO. have been overburdened the 8 ‘ I past week in greater degree than at any time since the fall crop movement began. Many complaints were heard of shipments delayed in transit, end in the Northwest it has been not so much a question of the ability of the roads to provide sufficient cars as of ability to move them promptly when loaded. Despite the enormous expenditures for new rolling stock, and an increase in motive power and general equipment, the roads lack the facilities for handling the immense tonnage now offered with the promptness desired by shippers. Everything in sight throughout the Northwest bespeaks the continuance of present conditions, the fall distribution in the jobbing lines having had an early beginning, and the volume of the merchandise movement from the distributing centers into the country surpassing anything ever known at this time. Minneapolis began the fourth week of September with the smallest stock of wheat ever recorded at this time, another decrease during the week, of 235,820 bushels, having brought the total down to 1,083,343 bushels. Daily receipts were somewhat heavier and better comparative showings were made, but the movement must increase much more before there will be opportunity to accumulate stocks. There is a better flour demand, and with an adequate wheat supply the mills will grind heavily for some time to come. Sentiment has turned stronger in wheat, and the fear of a heavy decline to follow any increase in the Northwest movement has been dispelled. While the speculative market may dip even lower on the fluctuations from day to day, there is a growing feeling that the extreme low points have been seefi, and that the legitimate supply situation warrants the maintenance of prices somewhere near the present levels.