Rensselaer Semi-Weekly Republican, Volume 34, Number 14, Rensselaer, Jasper County, 18 October 1901 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

—; In nearly all lines trade WOW VQrk maintains an even volume. is being viewed in an unfavorable light is not due to the state of business itself in the several industries, but to the"weakness in a number of the large corporations, growing out of their heavy burden of over-capitalization and sometimes inefficient management as well. Conditions are good in manufacturing lines. The steel trade is active and prosperous and orders must be placed in advance to assure prompt delivery. Domestic consumption is so large that the competitive foreign business can be neglected. Activity and a show of strength were displayed in the stock market for the first time in a long while on the revival of reports of a further extension of railway unification in the Northwest. Evidently the various interests in that part of the country wish to settle the differences that ci'opped out in the Northern Pacific contest. A comprehensive plan to unite the Vanderbilt properties In the East awaits action by the head of that family. The schemes of changes in the railway world have been revived suddenly and when they were unexpected. This may be because in all probability Congress will agitate, if it does not take action on, tho subject of control of “trusts,” at its coming session. Discussion on this topic would affect trust stocks adversely and through them all other stocks indirectly. Money is hardly as firm, although it is likely to be in good demand for several months, and banks do not make concessions readily. A smaller reserve is held by the Bank of England, but its minimum discount rate is not changed from 3 per cent. The prospect of shipments of gold to this country from Germany is spoken of there as a danger. America will sell large quantities of grain to Germany, where the crops are poor. Railroad earnings were ChlCflOO not unifol ' m, y E°od- Several * * western railroads in their latest returns failed to show so large increases as has been the rule lately. This is one of the first apparent effects of the shortage in the corn crop. Bank clearings are gaining generally. The weeLs record throughout the country amounted to $2,101,347,911, as compared with $1,600,941,217 for the corresponding week of last year. Business in Chicago, as indicated by clearings, is considerably larger than in 1900. The purchase of homes in and about Chicago by workingmen continues a feature of the real estate market. United States Steel interests are back of a consolidation of soft coal companies in the Virginia district. The anthracite situation is held well in hand by the strong combination now in consol. The largest company now owns about 63 per cent of the unmined anthracite coal in Pennsylvania, and advances in price are maintained firmly. The sugar trust is at war with the beet sugar refiners. Cattpn prices were higher on the poor reports of the" condition of the crop. .