Rensselaer Semi-Weekly Republican, Volume 35, Number 38, Rensselaer, Jasper County, 16 January 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

Bradstreet’s review of nBV IOrL the business year say*:“To I— * say that 1902 was the best year this country has ever experienced, not suggest fully the enormous strides which the United States took in the year just closed. Practically every branch of ordinary trade and manufacture showed an increase above the best of previous years, and yet this immense enlargement of output was not sufficient of itself to satisfy {he growing, it might even be termed insatiable, demand for all kinds of materials. In many cases the usual foreign outlet for our products was, perforce, neglected by American producers, who confined their efforts to supplying insistent domestic demand, while in others foreign production was called upon to re-enforce domestic output, with the result that new currents and channels were created in our foreign trade. Our export trade therefore shrank, while our imports expanded to unprecedented figures. “Industrial unrest was naturally marked, as it always is in times either of prosperity or of depression, and serious disorganization of some of the country’s basic industries resulted for a time. In many cases, however, resort to extremes was avoided or rendered unnecessary by liberal recognition by employers of changes in the standard of living, and it is safe to say that two men obtained higher wages or had their working time reduced without resort to strikes for every one who actually quit work. ‘ 1 There was about the.usubDlCdQO. al amount of business on a I the Board of Trade during the year 1902. '-■Wheat was, as usual, the leader and the selling price had a wide fluctuation, the lowest'-pohit touched for the year being 08% cents in August and the highest being 95 cents in September, while the extremes in 1901 were 03% and 79% cents. There’ was/lUgood deal ■of bull feeling during thevyear under review on the reported poorer crop in this country and the world over —iff quality only—the strong feeling in stocks and the general prosperity, nnd it was argued that the higher prices in securities should be reflected in wheat. This, however, did not fully materialize. The exports were smaller than those of the previous year; "Corn ruled firm throughout the year and prices averaged higher. This was due largely to the small crop gathered in 1901. The crop in 1901 was nearly 750,000,000 less than that of the year before, or 1,522,000,000 bushels, as compared with 2,264,000,000 bushels the year previous, and higher prices followed. Oats were affected somewhat by the same causes which affected corn and also sold higher. Hog products were influenced largely by the course of corn and sold higher. Cush Prices for Two Years The following table gives the lowest and highest price for cash wheat in Chicago each month for two years: 1802. 1901. Januaryso.74 ©BO% $0.71%©76% February 72%@7<J% .72'/ b @<4% March69%©7G .73%©76% April .70 ©76% .C9%@74% May -72%@76% .70 @75% June .... 7 ~ .71W70% .65%@71% July —rrrs-rr —.71%@79 -63%@71% -Auguat ... >. .....- .68%@76 ,66%@77 September ...’7O @95 .68%@71 0ct0ber67%@75% ,66%@71% November .... .. ,69%@77% .70 @73% December7l%@77% ,73%@85 Range of cash No. 2 corn in Chicago each month for the years named: 1802. 1801. - -January $0.5E%@64% $0.36 @37% Febiuary .56%®61% .37%@40 Marchso @61% .39 @44 April 5G%©64% .41 @4B May 59%@64% ,42%@55% June6l @74% .41 @44% Julys 6 @BB .43%@58% Augusts 4 @6O .53%@59% Septembers 7 @62% ..’4%@59% October .... .55 @61% ,54%@58 Novembers 2 @SB .59%@63% December .45 @57% .63%@66% The yearly average cash prices, based on the monthly range for the articles named in the Chicago market for ten years, are as follows: Wheat. Corn. Oats. Mess pork. 1902.. .75% $.61% $..39% $16.65 190172% .50% ' .32 14.55 1900 70% .38% .22% 11.77% 1889 71% .33% .24% 8.67% 1898.. .89% .31% .24% 9.47% 189785% .25% .18% 7.97% 1896 66% 23% .18 7.57% 189562%. .40% .24% 12.45 1894 57% .43% .31% 17.32% 1893 67% .39% .28% 11.35