Jasper County Democrat, Volume 5, Number 51, Rensselaer, Jasper County, 28 March 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

Tj 77 7~] “Only one distinctly unN6I lOH favorable factor is reported in the business situation, and it exists more in the fear r of what may happen than through anything that has actually occurred. Several strikes arc in progress, but none that seriously hampers industry, although many controversies are threatened and may interrupt trade unless agreements ore reached. Progress has been made in relieving traffic blockades, and deliveries are more prompt, yet railway facilities need njuch extension if they are to keep pace with the nation’s growth.” The foregoing is from the Weekly Trade Review of 11. G. Dun & Co. It continues: Jobbing trade is very large and the advancing season stimulates retail sales in many lines. Reports from the West are especitlly satisfactory; agriculturists making extensive improvements, notably in tlie purchase of the most modern machinery. Buying of spring and summer merchandise is heavy for the interior, and mills are resuming that have long been idle because coke could not be secured. A careful canvass of building operations at the leading cities makes a fair comparison with last year, outside of Chicago, where special conditions caused exceptional activity in 1902; returns are unanimous in disclosing a decrease compared with 1901, which, however, was the banner year in this respect. High Cost of material and wages of labor are undoubtedly retarding influences at the present time. Railway earnings thus far available for March- show an increase of 14. G per cent over last year, and 2G.1 per cent over IDOL Prospects in the iron and steel industry are still conspicuously encouraging. Only two drawbacks of serious importance are seen—railway congestion end labor disputes. The former lias greatly diminished with settled wenther and coke is moved freely to blast furnaces, while pig iron and other products reach their destination with less interruption. Quotations are fully held at Pittsburg, and a large purchase of Bessemer iron for delivery in the last half of tlie year is still under consideration. Some wire products and cast pipe nre advanced in price, and, as many mills are unable to deliver billets for several months, foreign steel is still purchased freely. Pig iron is continually arriving from abroad and finds a ready market. Textile markets are only fairly active, the buying at first hands for home account being on a moderate scale and forward business indifferent, except in the case of a few specialties. Unquestionably the undertone of the cotton goods market is strong. Demand for heavy weight woolens has decreased, most new orders being for the cheaper grades. More cancellations of early orders are reported. Much better conditions prevail In the dress goods market, both as to sta pies and fancies. New England shoe shops report increased sales, western jobbers placing orders for August and September delivery. Leather is more active, and tanaers are not carrying surplus stocks. The Saarket is in a healthy condition. Anetkar general reduction is reported la domestic bides, but foreign dry hides average higher, despite larger receipts. Failures this week numbered 220 in the United States, against 209 last year, and 22 in Canada, against 31 a year ago. Brailstreet’s Grain Figures. Wheat, including flour, exports for the week ending March 19 aggregate 2,359,598 bushels, against 3,3GG,79G last week, 4,320,304 in this week a year ago, and 3,25G,G44 in 1901. Wheat exports sine® July 1 aggregated 170,046,528 bushels, against 191,494,597 last season and 146,473,063 in 1900. Corn exports aggregate 3,407,068 bushels, against 3,257,999 last week, 839,891 a year ago and 2,605,080 in 1901. For the fiscal year exports nre 40,887,258 bushels, against 23,5)94,701 last season, and 141,588.120 in 15)01.