Jasper County Democrat, Volume 6, Number 29, Rensselaer, Jasper County, 24 October 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

„ .. T“| R. G. Dun A Co.’s n6V iOrlL Weekly Review of Trade ————— says: Whils some contraction in trade and industry has undoubtedly taken place, it is not in proportion to the reduction of 20 per Cent in pig iron output, or tho reaction in prices of securities, although in normal years these have usually proved fairly reliable barometers. Many branches of manufacture, however, are working full force, with large orders still unfilled, while the latest returns of the crops are most encouraging. Finance and labor are the disturbing elements this year, neutralized very largely by favorable commercial and agricultural conditions. The net result is a fairly well maintained volume of trade, offset by conservatism in carrying out protected new undertakings and proposed extensions of facilities. Railway earnings thus far available for October are 6.2 per cent larger than last year and 12.7 per cpnt above 1901. Weekly conflicting reports are received as to the condition of the iron and steel industry. There is evidence that the decline in quotations has been checked, Although it is occasionally stated that special terms are made on important contracts. A better inquiry is noted In the West, pig iron being freely taken by open-hearth steel furnaces and makers of railway supplies, and iu some favored lines the new orders cover deliveries through all of next year.

“ Under the stimulus of CbiCaQO. seasonable weather condia _ tions farm work progresses. satisfactorily, and reports indicate some increased activity in the distribution of goods And in manufactures. October buying is of a gratifying volume, and while this is most apparent in the leading retail lines, the jobbing sections are also doing a fair house trade, nnd make large shipments of dry goods, furniture and carpets, clothing and foot wear. Grain shipments for six days, including 8,922.447 bushels of com, aggregate 6,274,390 bushels aud are 8 per cent over the previous week. The wheat market preseated tlie most interest, owing to stronger buying and the scarcity of that cereal. Com operations were on a large scale, and sales of futures M ere influenced by growing supplies. Compared with closing prices of a week ago wheat advanced 2% cents and corn and oats each declined % cent: Live stock receipts, 81(k503 head, are 4 per cent under the corresponding week of 1902. Buying of cattle and sheep showed less vigor early in the week, but later improved, and closing prices of both show a net loss of 6 cents per hundredweight Arrivals of desirable hogs had a sharp falling off, and on spirited bidding values were quickly advanced 50 cents. Provisions were in fair demand, principally for domestic account. Bank clearing*, $185,475,635, are 10.02 per cent over a year ago. The movement of currency for crop-moving purposes is normal, but there is increased offering of commercial paper and money ia again qnoted firm at 6 per cent Call loans are infrequent

International's Report. Special telegraphic advices to the International Mercantile Agency from correspondents throughout the Uuited States and Canada are summarised as follows: The most significant trade feature of the week is found in a tendency to greater ease in money for mercantile nsee at Boston, Philadelphia, Chicago and Pittsburg. St Louis bankers anticipate like conditions there soon. 1 . Winter wheat sowing has progressed favorably. Prospects for a top crop of cotton have decreased. Rice receipts at Southern markets have been quite free. Crude oil prices are up 12 cents within two weeks.