Rensselaer Semi-Weekly Republican, Volume 34, Number 54, Rensselaer, Jasper County, 7 March 1902 — COMMERCIAL AND FINANCIAL. [ARTICLE]

COMMERCIAL AND FINANCIAL.

~ ~ ~1 Weather conditions again MBW lOrk. I interfered somewhat with -■ • ‘I the free movement of trade in some parts of tlrb country, but the West has not been affected. The outlook for consumers of iron and steel products has not improved. It is said that some of the structural mills are out of the market already so far as business for delivery this year is concerned. The scarcity of iron and the demand from manufacturers of this country in foreign markets has led to advances in prices in Germany and iu the Glasgow market. German mills have raised the price of steel billets $2 a ton, which is said to prohibit' imports to this country. Iron bars have also been advanced by German mills. A Montreal company, which is reported to have oversold to the United States, was among; the purchasers in the Glasgow market. The 30.000 tons of steel rails bought in England by a Southern railroad will be delivered at z Florida, the cost at the port here being $25 a ton, or between s3l and $32 with the duty. The United States Steel Corporation has bought 100,000 tons of Bessemer pig iron for delivery in the third quarter of the current year at sl6 a ton. This is an advance of 25 cents per ton • over the last purchase, but is less than smaller buyers have been paying. Copper remains quiet, with quotations a little below the mark to which they were priced on the last advance. The labor situation is generally good. Operatives in the important Fall Rivbr mills are expected to ask for a raise in wages this spring. Disturbances in Rhode Island woolen mills have not yet been entirely settled. Coal operators feel easy, ns there are no present indications of trouble in the mines. Cotton made a further advance, selling at the high quotation of this crop. Cotton goods are also firm, and better indications are noted for the export markets. The announcement of the intention of the government to begin suit against the Northern Securities Company uuder the Shermau anti-trust law caused a short reaction in the New York stock market. That market will be iu au uneasy state of mind for some time if it is to remain so until the quest ion to be raised by the Attorney General shall be settled. The litigation soon to be bugun will uqt be disposed of in a day.

~ Real estate transfers m LlliCdQO. Chicago last week were a nearly _double the figures for the like week of 1901. The activity promised in building this year in Chicago received a new emphasis in the issue- s os building permits dining the week aggregating $5,500,000. This is equal to 15 per cent of the outlay represented by the permits for the whole of 1901. It is due to the hastening of the plans of prospective builders to take advantage of the removal of the limit on the height: of buildings. Deliveries in the grain markets were general. May wheat closed at 77*£c to 77%c, a loss of l%c. May corn closed at 60%c, a loss of l%c to l?ic. After an advance to the highest price .since 1899, eggs slumped on Saturday to

27c to 28c a dozen, wholesale. On one day of the week they reached 34 cents, but eased off gradually until Saturday, when they dropped sharply with the milder weather and larger receipts. Eggs cannot be kept at this level much longer. Butter was firm. Chickens and turkeys are 25 per cent higher than a year ago, so that the problem of the economical housewife is as serious as ever.