Rensselaer Semi-Weekly Republican, Volume 22, Number 95, Rensselaer, Jasper County, 16 August 1901 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

Damages tb crops and other unpromising features in the situation have caused less hesitation in general business than might naturally have been expected. It has been a matter of comment as indicating the soundness of conditions that the New York stock market and legitimate business have shown so little effect from the uncertainties in the outlook. Many localities will be harmed thiy year as a result of the shortage in crops. The yield in everything but wheat will be so much shorter that the buying power of several States in the Southwest will be much reduced. Wheat’ has been raised in such abundance and the foreign market is so large that it will go far toward redeeming the position of the country as a whole. Investigation shows that old corn is being kept in some communities for a good price, and some of that will be shipped to the West for fodder. A prolonged struggle with the steel strikers wohld mean the loss to American manufacturers of the European markets they have taken pains to develop, as their inability to furnish goods would present a desirable opportunity for English and German plants. Troubles in small banks continue. In many that have failed since the banks with small capital became numerous, dishonesty in one form or another has been responsible. As a valuable adjunct to the crop-moving operations the small bank has already demonstrated its vajue. Less actual cash is required from the central cities. The small banks and their facilities supply the lack, and thus less disturbance is caused in financial centers. Berlin is having more difficulties and failures are reported with great frequency. Other points in Europe are in healthful shape. Money rates are easy abroad. Indications are that the United States will make more shipments of gold to Europe, which will relieve the situation further. Money is low in New York as well as Chicago. Bank clearings maintain a good average gain throughout the country, and railroad earnings hold up well. This is the season of dullness in the stock market. Vacations are general and public interest in the market is at a lowex ebb than has sometime* been the case at this time of the year.