Jasper County Democrat, Volume 6, Number 18, Rensselaer, Jasper County, 8 August 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

IBS.; . ,TT let Yurt

“Further evidence of th® solid basis upon which I®gitimate trade is establish-

ed lias been furnished by the equanimity with which commercial and toancial institutions regard the recent speculative collapse. Much more harm has been done to the country’s manufactures and trade by the inflated prices of cotton than by the depression in stocks. Reports are almost unanimous ns to the heavy distribution of merchandise, and this is shown statistically by the increase in railway earnings thus far reported for July, 12.5 per cent over last year’s and 23.1 per cent above 106 l,” according to R. G. Dun & Co.’s Weekly Review of Trade. Continuing, the report says: As a rule retail trade iu summer fabrics has continued heavy, and jobbers report fall business opening well. Labor i* well employed throughout the country except where voluntarily idle. Agricultural news is favorable. Foreign trade is maintained, both exporta and imports from this city showing gains over the corresponding week last year. Moderate improvement is noted in th® tone of the iron and steel industry. Thera is striking absence of urgent orders, however, especially in line® outside of railway equipment. There ks less anxiety regarding the danger of over-production, nit ho ugh dozens of new blast furnace* are in course of construction, and an active capacity of twenty million tons annually is nsw assured. Cables report spirited bidding by European rail mills for large contracts in America that home producers cannot consider, owing to their over-sold condition. Coke is moving freely, but the Alabama coal strike still disturbs fimiaeemen. Another decline has taken copper to about 13 cents. Failures this week were 190 in the United States, again:* 193 last year, -and 19 iu Canada compared with 18 a year ago.

Chicago.

Wheat harvesting is now general throughout the Northwest. As to the yield

,of the wheat crop it is thought that with all the recent improvement and with a yield in South Dakota approximately 10,000,000 bushels more «s partial offset to losses elsewhere, the total is likely to fall under last year, but there will be a good yield on the whole, and a yield for which the Northwest may be very thankful in view of the fact that a mouth ago Ihe entire crop stood in imminent danger of destruction from drought. The coarse grain crops that come to harvest earliest of all are turning out well and there is a big hay crop. Flax is standing well, and the temperatures of this week, although the cause of some nervousness, were not low enough to hjirt it. The smaller crops are good. The flax farmers will have to take less for tlveir crops than for geveral years past when prices were really abnormally high, but eoar.se grains are bringing fairly remunerative priees and wheat will selljibove latrt year on the average. As the fall season approaches the stream of merchandise flowing into the West is becoming heavier. Of all surprising things in the general outlook the most surprising is the continued heavy tonnage of the railroads. There is no abatement of activity save in a few unimportant instances. Merchants in the West, especially the central West, say they are enjoying the best cash business for years and are unable to aecumulaTc a surplus of goods in any line. Car shortages in the Southwest are a feature, this due in part, however, to the crippling of many, roads by recent floods. The railroads are in better shape this year than ever, and this is a very good thing, for it is likely all the additional equipment will be needed this fall .to prevent a repetition of the car famines and freight congestions that were so serious a handicap to business during the late fall of last year.