Jasper County Democrat, Volume 6, Number 19, Rensselaer, Jasper County, 15 August 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

Itw York,

“Trade advices from nearly every section continue to show a* favorable

conditions a* a year ago, and in many tinea the volume of transactions haa been increased. Jabber* report fall business opening with excellent prospects, and manufacturing plants "are well occupied, with the exception of the cotton mills. Distribution of merchandise is *o heavy that railway equipment already proves Inadequate, although crqpa are not the factor that they will be in a few weeks. Earnings for July exceeded last years by 12.7 per cent and those of 1901 by 20.2 per cent,” according to R. G. Dob ft Co.’s Weekly Review of Trade. Continuing, the report rays: On the whole, news from the farms is less favorable, but no serious curtailment is assured, and many section* made very bright reports. * A* decline of 1.5 per cent in the coat of commodities during July is evidence thflfprice* are less inflated, ranee the chang9'was mainly in meats and other food, which have been' ruling at an abnormal position. Consumption of iron and steel is on a large scale, and in many departments the last week has witnessed the signing of numerous contracts, but there is a tendency to delay purchases beyond early needs. Thia conservatism is not surprising in view of the uncertainty regarding the security and financial markets, together with considerable interruption to structural work through labor controversies. The rate of consumption and the moderate size of orders, however, Indicate that stocks are running low, which encourages furnace men and mill operators t 9 hold quotations fairly steady.

A moderate tonnage of pig iron has been ordered, and in partly finished products the best feature just now ia the bidding of agricultural Implement - makers. More pig iron was imported during July than anticipated, and German billets are still offered *t Pittsburg, but the domestic makers announce their intention of meeting foreign competition. There is less pretuure for tin plates, the peculiar weather extending the canning season and giving more time for delivery of cans. There is full occupation in all branches of this industry, and in merchant pipe also the mills have full order books for many months. Although jobbers report bright prospects for fall trade, it la remarkable that they make so little effort to-eecure forward deliveries. Irregular distribution of orders is reported in woolens, rome lines being withdrawn, while others make little progress. An increase iu number of buyers ia encouraging, and in the aggregate sales are fully up to normal. Hradstreet’a Trade Review.

Summed up in a sentence, it may be said that the past in trade and industry Is satisfactorily secured,.while the future, . despite tome mainly sentimental drawbacks, is highly promising. Divided geographically, it is to be noted thgt the East feels the effect of speculative liquidation, and the dulling effects on manufacturing of high prices of raw materia! or of strikes, while the West and South contemplate the prospects of good yields of staple crops and remunerative prices for the same with confidence, and even optimism. Wheat, including flour, exports for the week ending Ang. 0 aggregate 3,040,820 bushels,, against 3,191,442 last week, 4,244,383 tide week last year, 8,831,199 In 1901 and 3.318560 in 1900. For five weeks of the cereal year they aggregate 15,047,253 bushels, against 20,793,203 In 1902, "32,507,145., in 1901 and 14,868,797 in 1900. Corn exports for the week aggregate 884,428 bushels, against 928,839 last week. 70,611 a year ago, 990,714 in 1901 and 2,890,754 in IfWO. For five weeks of the present cereal year they aggregate 6,242,093 bushels, against 494,437 in 1902, 7,224,413 in 1901 and 18,249,731 in 1900.