Jasper County Democrat, Volume 6, Number 34, Rensselaer, Jasper County, 28 November 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

' „ w “"I R. G. Dun A Co.’s NSW York, Weekly Review of Trade - —— says: Labor organizations are accepting reductions in wages without controversy, which removes one threatening industrial factor, and in several branclyts of business orders are more numerous, but in the steel industry there is little expectation of liberal buying until 1904. Construction work is decreasing, despite optimistic reports of more building permits issued last month than a year ago. Mild weather still checks distribution of merchandise usually in brisk demand at this season, which is reflected in restricted activity at woolen and worsted mills and clothing factories. There is not the complaint of traffic congestion that was so frequent last year at this time, railway earnings 6.1 per cent higher than in November to date in 1902, testifying to the increased facilities. Meanwhile foreign markets are sought with more persistence. Machinery and hardware have felt the reaction less thus far than structural material and other heavy shapes, while new shipbuilding plants and machinery for the Panama canal are encouraging features of the future. Minor metals are quiet, aside from some speculative fluctuations at London. Failures this week were 249 in the United Stntes, against 266 last year, and 17 in Canada, compared with 24 a year ago.

T~ Seasonable weather CnlCdQO. brought decided improvea ' ment in the final-movement of necessities and sales in the prominent retail branches reached a very satisfactory aggregate, the buying being well distributed and comparing favorably with the same period of last year. Country advices Indicate similar gratifying conditions, and local jobbers received numerous urgent demands for reassortments of staples, particularly In wearing apparel and footwear. In manufacturing lines production is being carefully adapted to demand, and while there is some curtailment of forces employed, most of the mills and factories have a steady run of work ahead. Grain shipments, including 2,032,721 bushels of com, aggregate 4,555,289 bushels, an increase of 30.03 per cent over corresponding week of 1902. Farm work is well advanced and the seeding of winter wheat fully equal to that of a year ago. The foreign demand for bread stuffs has been disappointingly light, but domestic buying has strengthened and except for flour, values reacted higher. Live stock receipts, 384,575 head, are 14 per cent over a year ago. Bank clearings, $176,417,480, are 1.06 per cent under the corresponding week of 1902. Deposits are steady and money is quoted firm at 6 per cent. International’s Report. Telegraphic advices from correspondents of the International Mercantile Agency throughout the United States and Canada regarding the state of trade are summarized as follows: The week has made it plain that processes of readjustment and curb in prices in industrial lines, together with conservatism among commercial buyers, will more than offset the increased promise of agricultural prosperity. Financially the situation has improved since the movement of European gold this way. Mercantile collections are said to be good at nearly all points except Philadelphia and Cleveland, where they are firmer. St. Paul says they are slow In localities. Montreal reports a steady demand for staples at firm prices. Merchants look to an early settlement of the strike of 6,000 employes in the Quebec shoe and leather industry. Toronto advices are of greatly stimulated sales by reason of the colder weather, with particularly encouraging orders from the Northwest. Funds at Dominion financial centers remain comparatively easy.