Jasper County Democrat, Volume 6, Number 22, Rensselaer, Jasper County, 5 September 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

~ TL 1 “There is still no indfcj IOFn. coWoo of the depression in —— trade and Industry thaw pessimists predicted would follow the decline in securities. Conservatism was veloped by the uncertainty regarding th® effect upon financial conditions, but legitimate business is able to recure funds aa they are required, and the more can; tious progress of business gives promise pf greater permanent gain. Weak spots have been disclosed, ayd the technical position strengthened, ju.'t as occurred in the stock market. Readjustment aftes a period of inflation must of necessity bring some losses, yet the outlook m brightened by the removal of ing industrial clouds,” according to R. G.’ Dun & Co.’s Weekly Review of Trade.’ Continuing, the report says: Dispatches from all sections testify to the libera] distribution of merchandib* and the disposition to prepare for greater consumption of all the necessaries of life, 1 while the crops are making good progress aside from some cotton districts in as. The number of buyers in New Yorid la increasing and a 'heavy fall trade ifi anticipated. It is gratifying to find that consumers of pig iron have at last apparently decided to place contracts without waiting for further concessions. The decline had now reached its limit, judging by ths larger amount of contracts offered, ana this is the most important indication of a restoration to normal conditions prosperity in the steel industry. It M estimated that a large tonnage of structural steel will soon be ordered for delivery in 1904, although this is in a largo measure dependent on labor controversies. The railways are still vigorous purchasers of steel, especially as to rails.' There is a fair business iu plates and sheets, but an effort bo resell an oversupply of billets has produced tempo- j rary weakness in tjiat division.

There is sufficient business on the books of Nei\ England shoe manufacturers to assure full operation of machineryfor several months. While large sales of upper leather are reported, there is little demand for sole. Domestic hides again average slightly lower, but small offerings maintain imported hides. Thus far the liberal jobbing trade in dry goods has not affected the situation at the cotton mills, where the percentage of idle machinery has increased. Woolens are quiet, and the only event of importune® in silks was a special sale at low prices.

“7; Much money will be ClliCdQO. needed in the West. While the movement of grain ha* been much delayed, it will come in finally. Early frosts alone can now prevent the maturing of a fair average corn crop. Eight leading railroads, centering in Chicago, reported enough car* to handle their fall business. Since last year these roads have increated their car equipment 12.37 per cent, motive power 11.5 per cent, yard trackage 10 per cent, and general equipment 5.6 per cent. The feature in the traffic field is the volume of general merchandise moving into the West, much of which goes at once iqfo consumption. The movement of grain to the seaboard is light, which is not surprising when it is considered that; the primary wheat movement is over 5,000,000 bushels behind last year.* Against this there is a tonnage of coal, 1 iron and steel heavier than ever before known in Angust. There are some sign* of a lessening of internal trade, but many indications of an increase in foreign trade. The movement of spring wheat will be the determining price factor from now. pn. The weather has been very bad ft* threshing and the effect will be to delay shipments from the country. Cash wheat in Minneapolis, meanwhile, has settled into middle ground, and is 18c higher than a year ago at this time.