Rensselaer Semi-Weekly Republican, Volume 34, Number 68, Rensselaer, Jasper County, 25 April 1902 — "COMMERCIAL AND FINANCIAL" [ARTICLE+ILLUSTRATION]

"COMMERCIAL AND FINANCIAL"

Nev York.

“Good news predominates in the business world, notwithstanding two some-

what serious drawbacks. Weather conditions have been unsatisfactory at many points, retarding retail distribution and delaying outdoor work, while excessive rain has put many Southern planters behind with work in the cotton fields. Still more of a handicap is the strife between "wage earner and employer. Manufac- ’ turing is exceptionally active in lines not disturbed by strikes and there is a vigorous movement of goods through regr ular channels.”, R. G. Dun & Co.’s Weekly Review thus sums up trade conditions. The review continues: “At the close of last week negotiations were concluded for a large sale of pig iron at $16.50 furnace, deliveries beginning in October and covering six months. This price is in line with the avowed conservative intentions of the lending interests. Yet spot transactions are reported at $1 higher quotations whenever buyers are so fortunate ns to secure prompt shipment. Not only pig iron, but bars, billets and structural shapes are all sold so far ahead that new business is comparatively light, although consumers would quickly absorb any early deliveries that might be offered. The situation may briefly be summed up in the statement that it is the exception when order books are not filled for full capacity well toward the end of 1902. Buyers ate still placing contracts abroad, and on urgent business this will probably occur frequently during the remainder of the year. “Failures for the week numbered 198 in the United States, against 203 last year, and 19 in Canada, against 24 last year.” Bradstreet’s says: “Wheat, including flour, exports for the week aggregate 3.842,012 bushels, against 4,446,917 last week and 6,405,601 in this week last year. Wheat exports July 1, 1901, to date, (forty-one weeks), aggregate 202,687,970 bushels, against 161,027,718 last season. Corn exports aggregate 158.565 bushels, against 330,531 last week and 2,623.884 last yeard. July 1, 1901, to date, corn exports are 24.623,266 bushels, against 149,580,762 bushels last season.”

JWcaoo.

Were it not for the continued friction between manufacturers and em-

ployes ami threats of labor troubles, and some handicap to distribution owing to unfavorable weather, the general business situation would be almost ideal. The week brought activity in the staple manufacturing and jobbing lines, and«in some leading commodities advances were ma3e in prices. The Northwest had a continuation of the good demand of the previous week, the agricultural implement line leading the others. There was a revival of interest in the speculative markets, and great activity ruled in stocks. The market was- buoy; ant and depressed by turns. A few leading stocks scored very large gains, on the heaviest trading seen since the great bull market of this time last year. The report of the Agricultural Department covering the condition of the growing crop in the Southwest was the factor in wheat. That the government should make the condition 78.7, against a condition of 91.5 at the same date last year, was in itself very bullish. This was partly offset, however, by the considerable increase of acreage. The whole was tempered by the fact that the .figures of the census department covering the crop yield of 1899, given out earlier in the week, showed a wide divergence from the figures of the Agricultural Department for that year. This made the trade uncertain as to how to take the report nnd while it was generally construed as bullish, and ah advance in price resulted, there were some who figured out a moderately bearish interpretation. The present supply situation is very strong. Cojuit. try elevator stocks in the Northwest are the lightest at this date for some time.