Rensselaer Semi-Weekly Republican, Volume 34, Number 78, Rensselaer, Jasper County, 30 May 1902 — COMMERCIAL FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL FINANCIAL

~ ~ ~~j Weatheb and images conn6W Yfifft. ts nue the only seriously dis- — turblng factors in the business situation. Excessive moisture and low temperature made the crop outlook more uncertain, and much depends on a continuance of prosperity in the agricultural sections. On the other hand, rec-ord-breaking distribution of pay in the Pittsburg region accelerated retail trade, while resumption of woolen and other mills added largely to the active force. Transporting lines continue to make splendid exhibits, railway earnings for the first«sveek of Maj’ exceeding those of a year ago by 6.2 per cent and surpassing the same week’s Carnings in 1900 by 19.9 per cent. The foregoing summary is made of the trade situation by R. G. Dun & Co.’s Weekly Review. Continuing the review says: As indicated by weekly reports, pig iron production attained a new record for the month of April at 1,503,326 tons, and the weekly capacity of furnaces in blast on May 1, according to the Iron Age, was 352.064 tons, far surpassing all previous high-water marks. Such an enormous production would suggest accumulation of supplies, but consumption easily keeps pace, furnace stocks showing a decrease of about 10,000 tons during April to tnnch the lowest point in recent years. With about twenty more furnaces in course of construction or contemplated, an annual output of 20.000,000 tana, la no longer considered remote, while the current year may exceed 18,000,000 tons if no serious labor controversy or other calamity interferes. ■ 1 '■ While It is generally agreed that there has been much improvement in the winter wheat States since the opening of the month, prices became somewhat firmer upon the publication of the official report of condition on May 1. Exports for ten months of the crop year assure the heaviest out go e v eFTecbt'd ed,wenif-t he last two months make poor exhibits. For the past week exports were 3.499.764 bushels, flour included, against 4,023.246 a year ago. Corn advanced on lighter receipts and reports of slow progress in -planting. — — ■ ■ Quotations continue to vary widely, according to date of delivery, and there is less spot business owing to scanty supplies and to the growing tendency of consumers to place orders, for future delivery. There is now very little evidence of buyers holding off for a break. Kails ■nd structural supplies are ordered freely for delivery next year.

The most unfavorable deClliCdQO. velopment of many weeks a ‘ lin the business world occurred when the strike in the Pennsylvania coal fields was inaugurated. In consequence of the strike and its attendant possibilities a slight tinge of pessimism has colored the eastern reports. There is nothing as yet, however, to occasion fear of a set-back, and if we turn from this district and view the industrial field as a whole the situation is found to be very encouraging. Good rains fell in the Southwest, greatly stimulating winter wheat, and this alone is sufficient to offset every unfavorable feature found elsewhere. It is interesting to note that grain receipts at Chicago last week, although light, were the largest known this year. In Minneapolis receipts continue very light, which Is to be expected for a short time yet. A considerable portion of the Northwest acreage is still unseeded, and reports received fully confirm the earlier prophecy of a decrease iu wheat planting and an increase in corn and oats. Retail buying increased with the rains in the West. Jobbers found considerable business for fall delivery. In the produce lines prices have been easing off, which is natural as the season advances, Meat prices hold relatively firm, however, and material declines x are n»t expected uutil the late summer or fall.