Rensselaer Semi-Weekly Republican, Volume 34, Number 20, Rensselaer, Jasper County, 8 November 1901 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

~ ~ j The hopeful tone in busiNBW YOrK. noss conditions throughout - 1 the country is maintained generally. That the prospect of a change in those pleasing conditions lies in events without, not within this country, grows clearer as the situation in Europe assumes a more unsatisfactory aspect. Whatever takes place there in a commercial and financial way will be reflected eventually in the markets of America. New York, London, Paris and through them other centex-s, are alike subject to the same influences. The present depression in Germany has placed on the markets of Europe a large output of iron and steel at low prices, which restrictsthe foreign demand for our products by that much. Fortunately the iron and steel business, does not feel the effect of these conditions now, as the domestic consumption is so great, but it is an adverse factor that will be felt in time unless conditions in Europe are bettered. . This country has been called upon to supply gold to meet foreign needs, and on Thui-sday’s stoamers $2,850,000 was shipped to Paris. The present shipments are in part payment of loans made last summer to carry Northern Pacific securities bought Avhen the historic contest for the eonti’ol of that road was under way. Gold is a commodity and will go to the country that will pay for it. European nations are the ones that want it the most now. The advance in the Bank of England rate to 4 per cent probably will attract more gold from hei-e. The influence of this movement on the Wall street money mai'ket is lai-gely offset by the action of the Secretary of the Treasury in resuming bond purchases. The cry of shippers for Chicago. cars in t° move goods * * lis a revelation of the great volume of traffic. Such labor troubles as exist are only local in character. The machinists’ strike is an element of interest in a few localities, but attracts little notice. Coal deaiei-s ai - e complaining of the mild weather, which postpones the activity in that industry. Copper mines outside of the Amalgamated circle are reaping the i‘esults of the efforts of the Standai’d Oil interests to restrict production. The Amalgamated company has reduced its output, but still holds up the price of the product. No surer indication of the sound business conditions prevailing in Chicago can be found than its bank clearings for October. They gained $101,004,007, or 16.8 per cent, over October, 1900, and were the largest on record. Brisk retail trade in the whole country is shown by the demand for notes of small denominations. The conferences held in New York with the settlement of the Northern Pacific imbroglio in view have not been successful yet. Assurances are given that arrangements are progressing satisfactorily and that the final adjustment will bo on an ownership basis, leaving no room for’another outbreak of hostilities —that is, so far as the Northern Pacific and Burlington fire concerned. The stock market is waiting on the settlement of this controversy. The return of W. K. Vanderbilt to this country probably will be the signal for the revival of the reports of a deal involving all the railroad properties in which the Vanderbilt fam ily is interested. Odd* and Ends- *• German commercial situation is growing worse. * United Brethren Chnrch, Uniopolis, 0., will be sold at auction. James Lowe and hi* brother were suffocated by gas In New York. A Monte Carlo message aaya clerk* robbed the Casino of $400,000. No arrests, but several clerks were bounced. Emperor William of Germany has conferred ' upon Burgeon General Koch, the noted physician, the rank of major general. It was decided by the judge at Reading, Pa., that Sunday street cars are a necessity and are not operated in violation of law. Daniel Dodge, 18, and Walter Weston, New York, played “wild west." Dodge was accidentally killed, a bullet piercing his hssd.