Jasper County Democrat, Volume 5, Number 37, Rensselaer, Jasper County, 20 December 1902 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

” ~ ~1 “Lower temperature and NBW iori I holiday demands have com- ■■ ' ■*bined to accelerate retail trade, sales largely exceeding the eorre-' spouding week in preceding years. Much postponed business is being made up and shipping departments are crowded with work," but wholesale trade has ruled quiet. Railroad earnings for the month of November exceeded last year’s by 7.0 per cent and those of 1900 by 20.5 per cent." The foregoing is from the Weekly Trade Review of R. G. Dun & Co. It continues: At first glance the sudden rise in furnace stocks of pig iron to 94,296 tons, compared with 71,858 on Nov. 1, might suggest that consumption was below production, but obviously any accumulation that occurs is due to inadequate transportation facilities, since needs ar» urgent, as evidenced by the imports of eastern steel works. The pressure is still greatest for railway supplies, with structural material next as to urgency of demand. Small supplementary orders for spring shoes are received by New England sitops, but the season is practically over. Aside from activity in union sole, the leather market has been quiet. Further recessions have occurred in domestic hides. On the other hand foreign dry hides are firmly hold, despite increased receipts. Conditions are practically unchanged ns to cotton goods, a fair volume of orders preventing accumulation at the mills. Quotations are steady, and export sales of heavy brown cottons continue very small. Woolen goods for next fall have been opened at an average advance from 5 to 10 per cent. Failures this week in the United States are 209, against 201 last week, 213 the preceding week and 273 the corresponding week Inst year, and in Canada 30, against 15 last week, 10 the preceding week and 17 last year. Rradstreet’a Grain Figures. Wheat, including flour, exports for the week ending Dec. 11 aggregate 3.761,917 bushels, against 5,704,440 last week, 3.879,808 in this week last yenr and 4.375,577 in 1900. Wheat exports since July 1 aggregate 120,507,495 bush ds, against 130,303,381 last season, and 30,008,003 in 1900. « Corn exports aggregate 1,301,280 bushels, against 1,151.503 last week, 278,307 Inst year and 4,853,458 in 1900. For the fiscal year exports are 5,100,186. against 19,794,958 last season and 84,900,31)0 in 1900. ~~ Seasonable weather has ChiCiM been a help in the retail * trade lines, although nine of twelve leading western centers show on the whole a smaller total volume of business for the week as indicated by the comparison of bank clearings with lust year. There was a remarkably strong wheat market during the week in the face of many things that ordinarily would have worked for depression. The Canadian government report of the quantity raised last year was bearish, our own government report of the growing winter wheat extremely Itearish, and many other items were of the same tenor. We exported only 3,761,047 bushels last week, against 5,701,440 in the corresponding week last year. Yet May wheat advanced over 2la cents. The legitimate grnin trade cares little, howeyer, for depressing news as to the future, while we are on an immediate export basis at the seaboard, and are selling wheat to Europe, as on Tuesday, when over 700,000 bushels were taken. The South American imbroglio has also been a consideration on the part of the more venturesome of the speculative element. While the probability of our country becoming entangled in the Venezuelan mix-up seems very remote, there can be no doubt that the effect upon American speculative markets would be very disturbing should we become Involved with the great powers.