Jasper County Democrat, Volume 5, Number 47, Rensselaer, Jasper County, 28 February 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

~ ~ j I "Just as the railway conNets YOrK. gestion began to give way :f ore the vigorous efforts of traffic managers the situation became further complicated by the worst snowstorm of tho season, and the movement of merchandise was again interrupted. Latest figures of gross earnings show the usual gains, February thus far surpassing by 17.0 per cent last year, when unusual delay was caused by severe storms, and 1001 by 17.0 per cent. Increased cost of operation, however, necessitated further advances in rates.” The foregoing is from the Weekly Trade Review of It. G. Dun & Co. It continues: Trade wos interrupted to a considerable extent by the inclement weather, except iu certain seasonable lines, notably heavy wearing apparel. Wholesale houses dealing in staples. have received liberal orders and much forward business has been placed. Jobbers urge quicker shipments on old orders, while travelers send in many new contracts. Manufacturers of paper straw goods and clothing report conditions fully as satisfactory as a year ago, aside from interruption by labor controversies. Failures this week numbered 247 in the United States, against 250 a year ago, and 26 in Canada, compared with 31 last year. Bradatreet’s Grain Figures. Bradstreet’s weekly report on grain says: Wheat, including flour, exports for the week ending Feb. 19 aggregated 2,178,752 bushels, against 2,850,439 last week, 3,609,435 in this week a year ago and 3,424,802 In 1901. Wheat exports since July 1 aggregate 158,135,769 bushels, against 176,931,559 last season and 129,662,039 in 1900. Corn exports aggregate 3,731,457 bushels, against 1,830,170 last week, 247,830 a year ago and 8,267,668 in 1901, For the fiscal year exports are 28,370,048 bushels, against 22,806,326 last season and 127,594,834 in 1901. Barring the matter of LDiCanOL bad freight conditions, a which hits every western point, the outlook is extremely favorable. The spring trade is opening up well, and jobbers and manufacturers report the business so far secured of a volume larger than at this time last year. A uniform degree of activity pervades tlie mercantile field, and while the grain trade has not been heavy, but rather under that of last year, the bank clearings tyr the week were large. Prices are being maintained on the staples, and neither in the leading manufactured products nor in country produce has there been the easier prices that bad been predicted some weeks ago. Merchant report collections good, even better than last year. Bad debts are rare. Country merchants are buying freely yet are not overstraining their credits. The good milling outlook htrs been nn important influence for firmness in wheat. It is remarkable that the market has held so well against continued depressing reports. Since Argentine began shipping new wheat, she has thrown about 5,000,000 bushels into Liverpool. The trade realizes in full the bearish Import of these figures, but so far has refused to be disturbed by them. There is a big winter wheat acreage in our own country, and the growing plant is doing well. The recent cold weather did no damage so far as can be learned, ns it was preceded by a heavy snowfall that gave protection. There are many other bearish fentures, yet the bears have made little headway. There are so many who think wheat legitimately worth the present prices that buying support has been forthcoming on every decline. The bearish features will no doubt have effect If they remain, but meanwhile let any damage occur th winter wheat, and the bulls would be quick to start a campaign for a rise.