Jasper County Democrat, Volume 5, Number 39, Rensselaer, Jasper County, 3 January 1903 — COMMEPCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMEPCIAL AND FINANCIAL

New York. 1

“Trade and speculation experienced the customary holiday quiet, except in

Christmas goods, which sold freely, many packing and shipping departments being still engaged on this class of work, which could not be completed at the specified time. Industrial undertakings are interrupted in many cases by the taking of inventories, while other plants are closed because fuel cannot be obtained. “Orders’still come forward freely, and the new year will open with more business on the books than ever bef<«?e. Prices of commodities nre firmly held by the steady domestic demand, and there is a good export movement of the leading staples. In this as in many other instances, however, there is still the drawback of inadequate transporting facilities, which restrict shipments to the siaboard.” It. G. Dun & Co.’s YVeekly Review of Trade makes the foregoing summary of the industrial, situation, and, continuing the review, says: Financial conditions are satisfactory. Railway earnings thus far reported for the mouth of December surpass last year's by 5 per cent and those of 1900 by 11.0 per cent. Quiet conditions in the iron and steel industry, unaccompanied by any sign of weakness, testify to the healthy tone and suggest a bright outlook for the coming year. Furnaces and mills will extend the season of idleness beyond the usual time, not because orders are lacking, but in order to accumulate a moderate supply of coke. The situation in regard to shipments from Comiellsville lias not improved. A very large amount of business will be carried over into next year, probably more than in any previous season. New contracts have come forward more slowly of lute, mainly because of the uncertainty as to date of delivery, although there are prospective purchasers who still anticipate better terms in 1903.

Chicaga ]

The passing of 1!*02 marks the close of a year of unprecedented activity.

Never before has the general volume of trade been so large, never was there a more general report of satisfactory conditions. Many new enterprises have been launched and so large a measure of success has attended as to surprise even the most sanguine. Old firms have increased their trade enormously, and many houses, especially in the industrial field, have lost identity in the process of consolidation so characteristic of the times. As the country lias prospered, so has Chicago prospered. The city has increased largely in population, the building record is excellent, the retail trade lias grown wonderfully, the jobbing interests have expanded, and a number of new jobbing firms entered the field. YY’hen the figures nre compiled it will be found that Chicago lias increased her importance largely. If we turn to the railroads we find that the eonstruetiou of G. 020 miles of new- road brings the present mileage of the country to 203,000 miles, and that in the matter of new rolling stock every record was broken, the roads having added to equipment 4.070 locomotives and 104.547 cars, and yet, with this increase, there is the old story of inability to handle all the business offered. We have assurance that the roads will continue the policy of increasing equipment through 1903 in the fact that the locomotive and ear building companies are very heavily sold ahead. The railroads have not been in haste to spend their heavy earnings of the prosperous year, anil have been adding to surplus, until ns we turn into 1903 we find the largest sums ever known in the strong boxes of the roads. Two great systems, the Milwaukee art'll the Atchison, are carrying nn excess of $20,000,000 each, and twenty-six leading roads will carry over in all nbout $105,000,000. The bulk of this will go eventually for new lines, or betterments, and new equipment on old lines.