Rensselaer Semi-Weekly Republican, Volume 35, Number 31, Rensselaer, Jasper County, 19 December 1902 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

Hit Yurt.

Aside from the interruption to retail trade in winter goods at many points

by unseasonable weather, business activity continues in excess of previous years, and it is probable that all the postponed trade will be made up, now that low temperature has become general. While the warmest November on recprd at the East affected sale of clothing, it helped to restore the fuel equilibrium. Manufacturing plants are well engaged, and an evidence of''the successful season is found in much larger Fall River dividends. The foregoing is from the Weekly Trade Review of R. G. Dun & Co. It continue?: The course of commodity prices is shown by Dun’s index number, which was $100,449 on Dec. 1, against $99.75 on Nov. 1 and $101,378 on Dec. 1, 1901. Higher prices for dairy and garden products account for the rise during November, but it is particularly gratifying to the consumer that the present level is nearly I per cent lower than at the corresponding date last year. This change is also in food stuffs, where the cost of living was abnormally expanded by short crops in 1901. Irregularity is reported in the iron and steel market, most departments having much business, while a few are seeking new orders and seem disposed to make slight concessions. Stability is naturally most conspicuous in those divisions where in cases of extreme pressure and. high premiums for early delivery the imports that have been attracted hither have a demoralizing influence. In view of the scarcity of coke it is not easy for domestic producers to meet this foreign competition, and when any material reduction is made it may be found that foreign concerns also will cut prices. Thus far, however, only a slight tendency is noted in the direction of cheaper iron, and in such products as steel rails and structural material the consumer cannot hope for early concessions. As it is w*ell known that much business is held back by high prices, there is no prospect of dullness in the near future. Any decided reduction of quotations would bring out these postponed orders. Consequently the only disturbing feature in this industry continues to be the inadequate supply of fuel, and even the most sanguine do not anticipate a return of normal conditions before spring.

Chicago.

The touch of winter over the Northwest last week was a wonderful stimulus

to trade. As a change from the wet and gloomy weather of the preceding week it was very welcome, and the effect was seen in a general livening up in business, especially noticeable in those retail trade lines where demand had been slow and business dragging. Complaints of the slow movement of winter goods, of dullness and a lack of inclination to buy, on the part of the public were more or less general. It needed only the first real sign of winter to effect aV:hange. Merchants report sales in the past few days of large volume, and the immediate outlook for good trade very encouraging. The holiday trade last year was the largest the country had ever known, but there is reason to believe a new record will be made, for the same conditions that made the people liberal buyers at that time are ruling to-day. It is not only that the people have money, but they are filled with the spirit of prosperity that pervades thd'entire land, and at holiday time are willing to spend more liberally. During the week the Minneapolis elevators took into store 1,803,951 bushels of grain, the largest increase- of any week this season, which brings the total stock there up to 9,528,940. This gain in wheat stocks is nothing in itself and not more than Minneapolis should gain in any week at this time, while the present stocks are light and well under the av erage at this time. The rush of wheat to the bend of the lakes has now ceased and receipts at Minneapolis should show a Still further increase.