Jasper County Democrat, Volume 5, Number 34, Rensselaer, Jasper County, 29 November 1902 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

~ ~ “Voluntary increases in 118 V IOFK. by some of the larg- ————— est railway systems in the country bear eloquent testimony to the amount of business handled in the past and emphasize the confidence of officials in continued heavy traffic. Moreover, by this addition of large stuns to the purchasing power of railway employes, there is assurance of a larger demand for all staple lines of merchandise. “Temporarily, sales of seasonable lines >of wearing apparel are retarded by mild weather, but this loss will be fully made up whon low temperature becomes general. Itreparations for holiday trade are on an unprecedented sea h\ especial Iya t interior points.” R. G. Dun & Co.'s Weekly Review of Trade makes the foregoing summary of ‘the industrial situation. Continuing, the review sayau_ : There is no relief as to the congestion of railway traffic'nor any immediate prospect of fire movements at the points of most serious blockade. Coal freight is steadily gaining and all railway earnings thus far reported for November exceed last year’s by 50 per cent and those of 1900 by 15.9 per cent. Orders are now coming forward for iron and steel products that have been held back many months in expectation of an easier market. Instead of making concessions, however, producers ask premiums for early delivery and hesitate to accept contracts where materail and fuel are not in sight. ‘No relief is reported as to the movement of coke nor is any anticipated for some time to come. In fact, one authority; suggests that the stination will not be normal before April. Imports relieve some departments of the industry. Failures for the week numbered 266 in the United States, against 218 last year, and 24 in Canada, compared with 81 a year ago. The congestion of freight ClliCdQO. at principal industrial * ‘ points throughout the country has reached a stage more serious than ever before. A year ago at this time there was a ear famine, and loud complaints were heard of the quantities of merchandise piled at commercial centers awaiting opportunity for forwarding. The roads meanwhile have increased their rolling stock by the addition of many thousands of pieces but the expenditure has gone more into increased carrying capacity than to increase in motive power, with the result that even in Chicago and the West there is complaint, while in the East, where the situation is critical, there are miles of cars bearing some proportion of perishable goods, that the roads are unable to move • ff promp-t ly. In the Northwest the complaint is still heard of -weather unseasonably ;i>il<l. Some lines of fall and early winter merchandise nre dragging a little in consequence. There is just a trace of holiday buying, and in the staple lines merchants report the demand running even more than ever to the choicest articles. Manufacturers have had to contend with advances in raw material in a number of lines. Hardware men have experienced a slight decline in 'demand for material entering into the construction of buildings as is natural at this time. The iron situation remains very strong. The wheat market presents much the same features. Statistics have changed. The visible supply is larger, stocks in Minneapolis/are somewhat larger, and receipts at primary points have been showing some increases, yet ns the figures bear upon the situation they are fully as favorable to price maintenance considering that we are now In December. Were it purely n matter of statistical influence the position of wheat would not be hard to define, but recently the manipulative influences of Armour and other large operators have been felt and the trade is inclined to watch the moves with the greatest interest for the present. Meanwhile the Minneapolis mills are consuming a great quantity of wheat, the sennonrd is close to a free export basis, and Duluth is selling wheat to go abroad from time to time.