Jasper County Democrat, Volume 5, Number 41, Rensselaer, Jasper County, 17 January 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

~ “Collections are notably; NeV YOrL prompt at all leading cen J — 1 alters, bearing testimony to the strong financial position of the nation’s industries at the opening of the new year. Distribution of merchandise is heavy and manufacturers are pressed for prompt delivery. Orders for spring goods come freely, and in some lines there is more than n sample business in. fall weights. Tardy deliveries in the past lead purchasers to anticipate requirements more than heretofore, nnd orders are being placed far in advance of actual needs.” The foregoing is from the Weekly Trade Review of R. G. Dun & Co. It continues: The fuel situation is still the one seriously disturbing element, rendering ab'normally high the cost of manufacturing and restricting the purchasing power of almost the entire population. Fortunately, this comes at a time of exceptional pfosperity, or there would’be a general contraction of consumption in other lines. There is little interruption to work because of labor disputes, but many operations are interrupted by the delay in transit of needed materials. Railway freight rates were advanced, and one re suit will be a loss of exportation from eastern cities, the traffic being deflected to New Orleans. In the iron and steel industry the most significant event of the week was the discussion regarding the profit-sharing proposal by the leading producer. Inadequate supplies of coke are still restricting operations. Contracts for the new year were made at $4 a ton, but prompt deliveries often commanded $6 or $7, and at Chicago some sales were reported at $lO, Pig iron continues scarce, prices generally advancing during the last week, and the expected advance of $1 a ton was made in wire products. Failures for the week numbered 350 in the United States, against 373 last year, and 24 in Canada, compared with 27 a year ago. Bradstreet’s Grain Figures. Bradstreet’s weekly report says: Wheat, including flour, exports for the week ending Jan. 8 aggregate 5,098,951 bushels, against 3,436,206 last week, 3.567,710 in this week a year ago, and 5,961,095 in 1901. Wheat exports since July aggregate 135,763,176 bushels, against 153,313,937 last season and 103,874,914 in 1900. Corn exports aggregate 2,856,986 bushels, against 2,537,542 last week, 136,873 a year ago and 4,897,345 in 1901. For the fiscal year exports are 13,583.406 bushels, against 2n.957.354 last season nnd 103.750.945 in 1901. All speculative markets CuiCdjO took a t,iru f° r the better during the week anil in stocks and grain the depression has been shaken off; there were signs of renewed pqhliq interest and broader markets seem assured from now on. It may safely be stated that the average grain man is a ball. Insofar as his opinions are influenced by the wheat supply situation in America, eshpecially iu the Northwest. There is, however, a large acreage of new winter wheat, and while it is impossible to know anything decisive as to the prospects so early, such reports of conditions as have been received are generally favorable. And in Argentina a large crop, said to be of good average quality, is being harvested. The more conservative trader will want to know bow the winter wheat will show up in the spring, nnd about how much wheat Argentina is likely to throw into Liverpool, before buying heavily, but many argue that the Northwestern supply nnd demand situation w ill be the factor of overshadowing importance later in the year, and are bhilis even at this time, believing that the best has been heard of winter wheat conditions, and that the effect of a big Argentine crop is likely to be liscounted by the Liverpool trade.