Rensselaer Semi-Weekly Republican, Volume 20, Number 97, Rensselaer, Jasper County, 11 August 1899 — BUSINESS SITUATION. [ARTICLE]

BUSINESS SITUATION.

Chicago Correspondence: Conditions underlying the business situation are generally of a favorable* MMI acter. The two undetermined factor* a*f crops and money. As to the former, fwj cent reports have been of a most tTtrriiH aging character, and so far as money II concerned, bankers and merchants naif ■eem agreed that at least the pTSSSdjfI level of rates will be maintained for BOOM time longer; there is a fair prospect of if temporary slight advance as soon as Dm3 demands for crop-moving purposes : ; ;|M come more urgent. The rise in intetSH rates seems a legitimate one. Thai growth of business has necessarily <nH casioned a larger use of money, and ifefl the last year there has been a gradiud£| increasing flow into the regular traM channels. Never in the history of this country |mjj activity been more universal at this pel riod of the year. Production la all lhs<B Is at high-water mark, and still stocks dm not seem to be accumulating. The cm| sumption of merchandise continues to keep pace with the increased supply, fmjj besides the domestic demand new foreign markets are opening. In all departmeamj recent advances in prices are maintateifl and in special lines further appreciation in values has been recorded. Bank clearings for July indicate than general business is active. Returns from the whole country show that the aggtoi gate 9f payments through the banka waßf in excess of 17,000,000,000, a record fo*f that month which has never before bsafl equaled. The clearings of the Chicago banks showed a gain of over $lOO,OOOJ)O0i| as compared with the corresponding] month last year. The stock markets havH been less' active, and prices as a rulej •how some recession from the figures | reached last week. Money continues fin be the principal faetbr in the and the fear of an advance In rates In tended to hold bull speculation in chedtfj The industrial stocks have lately commanded a greater share of attention, and] in some fair advances have been shoim| Hope of a great corn crop comes neoriH and nearer to realization as the seaiSH progresses. The warm weather of tM| last week was just what was needed til make up for the delay at the staMjiH geting the seed in the ground. In plscsfil the heat was excessive, and fear of damage on that account was immediately ex-l pressed in the usual exaggerated forfif! bnt it was clear to those having practte|9 experience in raising corn that for even! acre that suffered from the beat Ml were benefited. The course of the maM ket during the week was a reflex of »hdfß opinion. Gradually receding prtegH evinced the faith of the the generally beneficial effect of thm| warm weather, a decline of half a cent h bushel being submitted to in face export demand of unusual dimensions! A heavy corn crop promises to more tfiigH compensate for a deficiency of wintefl wheat, and the failnre of the foddi! crops of Europe insures a eontinnatfaji! throughout the season of the preaeto-jjffl tivity in the foreign demand. 1 Spring wheat made rapid progress djf! ing the week, so that South Dakota aMg Minnesota are now busy with theirl|H gathering. The crop is already bdjiK sold for delivery within the next ti(M weeks in the Minneapolis market, .|§H notwithstanding some drawbacks yield promises to be generally BatisfagH tory. The agricultural returns for the labor of the growers give every lndkifl tion of being, on the whole, fully as re-1 munerative as those of the previous sail son. The wheat market was somewfß irregular, without material alteration lal prices. Europe will again be on America for so large a proportion M its supplies that prices much lower thjM at present seem improbable. I