Jasper County Democrat, Volume 6, Number 16, Rensselaer, Jasper County, 25 July 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

„ v —“l “Condidons continue satNeV YON. ‘sfartory outside the region i— ' of ' speculation, many reports- indicating further improvement. During recent months the two disturbing factors have been labor controversies and weather 'conditions, but each week haa brought beltST things in these two respects until the outlook contains much that is eneouragiug. Crops are making rapid progress, and die army of unemployed is diminishing,” according to R. G. Dun & Co.’s Weekly Review of Trad*. Continuing, the report says; Railway traffic is heavy, earnings thus far reported for July exceeding last year's by 13.6 per cent and those of 1901 by 19.2 per cent. Retail trade in seasonable merchandise is fully up to the average, and there is less than the customary midsummer quiet among wholesalers, while the preparations of jobbers and manufacturers indicate confidence in a large fall business. Unsettled conditions still exist in forge and foundry pig iron markets, while Bee* senior iron is only barely steady. The chief difficulty appears to be the inclination of prospective purchasers to wait for die lowest possible quotations. This la a condition to be expected in a declining market, but appears unusually aggravating in the present instance. Current consumption is heavy, and the delay is only in connection with distant deliveries.

Structural steel begins to reflect ths settlement of labor troubles in the building trades, but several important undertakings have been postponed until next year, two large buildings at Pittsburg being conspicuous examples. Merchant steel and pipe are in better demand, several large contracts being under negotiation. Steel rails are sold well into 1904, and other railway equipment is still one of the best features in the industry. Southern iron furnaces nnd steel mills are affeoted adversely by the coal miners' strike, although there is a belief that settlement will not long be delayed. It is a season of uncertainty in the manufacture of cotton goods, nnd nothing in the nature of improvement can be pected Until the artificial position of the raw material is radically altered. Supplies of cotton goods in first hands are low, and there is no effort to make spot sales. Buyers fill their requirements for immediate distribution, but in no department of this great industry is there any inclination to anticipate needs of even the near future. As supplies diminish there is a corresponding stiffening of quotations. Blills are steadily curtailing production both here and abroad. New lightweight woolens are being opened, with fair results only, buyers exhibiting no anxiety regarding the future. Failures this week were 213 in the United States, against 213 last year, and 16 in Canada, compared with 20 a year ago. Rradstreet'a Trade Review. The salient features in trade report* this week are the better tone of trade advices from the Southwest, where the feeling grows that a large business will be done. Hides and leather are rather weaker at the East, but eastern shoe shipments are far in excess of last year for the week and season. Wheat, including flour, exports for the week ending July 16 aggregate 3,652,084 bushels, against 2,380,410 last week, 3,775,222 this week last year, 5,221,880 in 1901 and 3,029,381 in 1900. For'two weeks of the cereal year they aggregate 6,033,194 bushels, against 8,179,337 in 1902, 10,238,029 in 1901 and 5,839,291 in 1900. Corn exports for the week aggregate 1,402,404 bushels, against 1,525,084 last week, 130,079 a year ago, 1,714,081 in 1901 nnd 4,182,159 in 1900. For two weeks of the present cereal year they aggregate 2,927,488 bushels, against 315.810 in 1902, 4,514,819 in 1901 aud 8,204,227 in 1900.