Jasper County Democrat, Volume 5, Number 44, Rensselaer, Jasper County, 7 February 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

“Z y j~l “Domestic trade and inNBV lOFL dustry continue to prosper, ~ while the fuel situation has grown less disturbing through the special efforts of transporters, aided to no small degree by mild weatlier. Distribution of other products has been restricted by tlie discrimination in favor of coal, and shippers are importunate. Clearance sales are about ended, leaving only small stocks of winter goods. Advance business in spring deliveries is very heavy, and fall contracts are also placed liberally.” The foregoing Is from tlie Weekly Trade Review of R. G. Dun & Co. It continues: At some points tlie harness season opens favorably. In most cases where there is no delay on fuel account manufacturing plants are busy, though cost of materials and labor is very high. Finn prices for finished products are consequently to be expected. Favorable returns of railway earnings are constantly issued, figures thus far available showing an increase of 5.7 per cent over last year and 17.9 per cent over 1901. Miles of loaded cars and thousands of tons of coke piled in the yards at Connellsville tell the story of conditions in the iron and steel industry. Furnaces are closing because of the fuel shortage. By giving coal, live stock and perishable goods precedence over all other freight the railroads helped consumers everywhere, but at the expense of tlie leading manufacturing industry. Many plants are closed or running onlypart time, and few orders for distant delivery are either sought or offered owing to the uncertainty as to when normal conditions will prevail. It is stated that deliveries of pig iron to the lending consumer are several months behind, and spot Bessemer lias risen sharply, yet there is much irregularity, as evidenced by the decline in cast pipe. Locomotives are being turned out of the shops with record-breaking rapidity, and other railway equipment is in equally good demand, while structural material is still a feature. Many additional contracts for bridge building are recorded. Bradstreet's Grain Figures, Bradstreet's weekly report on grain says: Wheat, including flour, exports for the week ending Jan. 29 aggregate 4,420,065 bushels, against 3,538,757 last week, 8,702,368 in this week a year ago and 3,770,000 in 1901. Wheat exports since July 1 aggregate 148,599,622 bushels, against 165,346,186 last season and 115,825,646 in 1900. Corn exports aggregate 2,045.999 bushels, against 2,376,683 last w-eek, 427,018 a year ago and 2,487,707 in 1001. For the fiscal year exports are 20,400,700 bushels, against 21,861,985 last season and 115,395,354 in 1901. A 5-cent decline in wheat CniCdflO. prices was a feature of the a ' week. A fortnight was necessary to work the market up to 82% cents for Chicago May, while in three days the advance was lost. Tlie Armour influence no longer appears, and traders are now getting back on tlie old basis, and forming opinions more from the news of tlie day respecting legitimate supply and demand conditions, rather than from tlie manipulation in the Chicago pit. A strong bull argument and a strong bear feature developed this week. The depressing feature was the shipment of 1,080,000 bushels of wheat from Argentine, this indicating that a free movement from Argentine may be expected from now on. Offsetting this was the report of renewed demand for American wheat from Australia, and of a quantity sold on tlie Pacific coast, iarga enough to more than counterbalance the Argent iye shipment.