Rensselaer Semi-Weekly Republican, Volume 35, Number 6, Rensselaer, Jasper County, 19 September 1902 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

H v . I “Steady progress is r#MM XOTJL ported in trade a»d indas- — 'try. Distribution of merchandise Is heavy and a healthy tone is evident. Prices are well maintained by liberal consumption, which more than neutralizes the effect, of enlarged facilities for production. Domestic conditions continue much better than those existing abroad and home trade received more attention than foreign commerce. Farm products have appreciated in value owing to less favorable weather and producers will be fully compensated for any decrease in quantity by the higher quotations. Earnings of railways during August.were 3.6 per cent larger than a year ago and 18.9 per cent"ln excess of 1900.” R. 6. Dun & Co.’s Weekly Review of Trade makes the foregoing resume of the industrial situation. Continuing, it says: Advancing raw material aroused much anxiety among purchasers es cotton goods and there were numerous inquiries for forward contracts, but the volume of business was not materially increased. Quotations of footwear are fully maintained at the recent advance. It is noteworthy that buying has been heaviest in the finer- grades and sample lines of spring styles are also most sought in the good qualities. A good feature is the urgency for quick shipment, indicating that stocks are low. Leather sells freely at the recent advance in quotations, but hides appear to have risen above the views of tanners, resulting in » quiet market. Agricultural conditions are less satisfactory, and if the official estimate as to cotton is not exaggerated the yield will not be large enough to sustain consumption at the present rate. Wheat is coming forward freely, though receipts do not equal the abnormally heavy movement a year ago. Corn developed, strength because of fears that injury would be done by frost, and the movement is very slow compared with iasf year’s figures. IT; The Northwest has had UIIC3QO. another week of uuseason- — able weather. In spite of this, however, trade is'reported good, and collections easy. The unfavorable feature is the continued light crop movement, Minneapolis reports being far behind last year in the matter of wheat receipts. The grain will begin coming in quantity eventually but every succeeding day of bad weather delays the movement still further. Something of a scare was worked up in a small way by low temperatures over the Northwest and the possibility of damage to wheat in the extreme Northwest, and to the late flax still in some degree immature. To what extent stock market advances already made have discounted the future is problematical. Certainly it is a reasonable assumption that if the western railroads dependent largely upon corn, or the tonnage derived indirectly from corn, were able to hold up earnings last 3 ear, and even make increases, they should do wonderfully well this year, when, as an Illustration, the present condition of corn In Missouri is 108, while last year at this time it was 29 on a much smaller acreage. More-Scotch iron was brought over last week for use in Chicago. A little of unfavorable comment was occasioned by this, although just why At is hard to see. It hns no special significance and means nothing more than that we must have iron, and as there are many difficulties in ; the way of maximum production the most 1 important of which is the coal strike, consumers are going abroad for what they | cannot get at home. The foreign iron makers will lose their American trade | whenever American mills can book the ! orders. | Failures for the week were under the ' average and there were no new developments of an unfavorable nature in the industrial lins. The feeling is growing, however, that the anthracite strike* must be settled even if a settlement must be forced updn the mine owners and their property rights disregarded, in view of the existence of something that has grown to be a serious menace to the general i prosperity. .