Rensselaer Semi-Weekly Republican, Volume 35, Number 33, Rensselaer, Jasper County, 26 December 1902 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

Het York,

“Lower temperature and holiday demands have combined to accelerate retail

trade, sales largely exceeding the corresponding week in preceding years. Much postponed business is being made up and shipping departments are Crowded with work, but wholesale trade has ruled quiet. Railroad earnings for the mouth of November exceeded last year’s by T.® per cent and those of 1900 by 20.5 per cent.” The foregoing is from the Weekly Trade Review of R. G. Dun & Co. It continues: At first glance the sudden rise in furnace stocks of pig iron to 94,295 tons, compared with 71,858 on Nov. 1, might suggest that consumption was below produetion, but obviously any accumulation that occurs is due to inadequate transportation facilities, since needs are urgent, ■ as evidenced' by the imports of eastern steel works. The pressure is still greatest for rail.way supplies, with structural material next as to urgency of demand.

Small supplementary orders for spring shoes are received by New Englund shops, but the season is practically over. Aside from activity in union sole, the leather market has been quiet. Further recessions have occurred in domestic hides. On the other hand foreign dry, hides are firmly held, despite increased receipts. Conditions are practically unchanged as to cotton goods, a fair volume of orders preventing accumulation at the mills. Quotations are steady, and export sales of heavy brown cottons continue very small. Woolen goods'for next fall have been opened at an average adtanee from 5 to 10 per cent. Failures this week in the United States are 269, against 204 last week, 213 the preceding week and 273 the corresponding week last year, and in Canada 30, against 15 last week, 16 the preceding week and 17 last year. Bradstreet’s Grain Figures. Wheat, including flour, exports for the week ending Dec. 11 aggregate. 3,761,047 bushels, against 5,704,440 last week, 3,879,808 in this week last year and 4,375,577 in 1900. Wheat exports since July 1 aggregate 120,507,495 bushels, against 136,303,381 last season, and 36,0)8,003 in 1900. Corn exports aggregate 1,301,286 bushels. against 1,151,563 last week, 278,307 -last year and 4,853,458 in 1900. For the fiscal year exports are 5,160,186, against 19,794,958 last season and 84,906,396 in 1900.

Chicago.

Seasonable weather has been a help in the retail trade lines, although nine

of twelve leading western centers show on the whole a smaller total volume of business for the week as indicated by the comparison of bank clearings with last year. There was a remarkably strong wheat market during the week in the face of many things that ordinarily would have worked for depression. The Canadian government report of the quantity raised last year was bearish, our--own government report of the growing winter wheat extremely bearish, and many other items were of the same tenor. We exported only 3,761,047 bushels last week, against 5,704,440 in the corresponding week last year. Yet May wheat advanced over 2*4 cents. The legitimate grain trade cares little, however, for depressing news as to the future, while we are on an immediate export basis at the seaboard, and are selling wheat to Europe, as on Tuesday, when over 700,000 bushels were taken. The South American imbroglio has also been a consideration on the part of the more venturesome of the speculative element. While the probability of our country becoming entangled in the Venezuelan mik-up seems very remote, there can be no doubt that the effect tipop American speculative markets would be very disturbing should we beoome Involved with the great powers.