Rensselaer Semi-Weekly Republican, Volume 34, Number 22, Rensselaer, Jasper County, 15 November 1901 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

j That gold shipment a 1 Hew York. s h° u, d b e made at this seaLI son is somewhat surprising, l hut without bearing on the financial sit-! uation except as it tends to draw down* the surplus reserves of the New York: banks. AS gold goes out at New York it comes in from the Klondike and Australia, and besides those two sources there is a steady and large supply from the, mines in this country. About $12,000,-; 000 has been received from the Klondike,; and nearly as much from Australia, so; far this year. The mere sending of this: metal that comes in at the back door out* of the front door is ineffective so far as 1 it concerns the gold store of this country, now at its highest point. England is l still cut off from its base of supplies in! South Africa. The war completely stopped the output, and latterly troubles with Kaffir labor, resulting from the demoralizing effects of the contest with the Boers, have presented new obstacles. Under the circumstances, with the money markets -relatively easy here and! more or less demoralized throughout Europe, America can spare considerable! gold. It owes some for loans contracted* In Europe this spring to raise funds for: bridging over purchases in connection with the Northern Pacific difficulties.; These loans are maturing, and Paris andj England are unwilling, pel’haps unable, to renew them. t AIM districts of the country, no * less than in the large centers, remains active. Colder weather hasr helped retail trade. Iron and steel mills are sold well ahead for domestic consumption. This industry is suffering more than any other for the lack of freight cars.. Greater attention has been attracted to the New York stock market by the improvement of prices, but this is the result more of professional trading than of public interest. Wheat prices on the Board of Trade advanced during the week 2% to 2*4 cents and sentiment seemed more in favor of the buying side than it has been for mouths. There has been a lot of buying on the belief that with corn at 60 cents and oats at 40 cents wheat should he selling at least at 80 cents. Corn is selling at 60c in the' West, and around 62c to 63c in Kansas City, but receipts everywhere are small and the primary movement for the week, was only 1,735,(XX) bushels, or about 800,000 bushels less than last year. The western farmer has become thoroughly imbued with his importance as a master of the situation, and, while he has little corn to sell, he expects fancy prices. In Chicago December advanced above 60c last week, and May touched 62%c, or within 3%c of the high point of the crop. Oats sold at the highest price on tho crop—4o%c for May, equaling the top figure on the August bulge.