Rensselaer Semi-Weekly Republican, Volume 35, Number 42, Rensselaer, Jasper County, 30 January 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

“ “ j*~l “Fuel shortage Is still u6Y lOrlL I one seriously disturbing situation. Transportation facilities hav* been diverted from otWr merchandise, to the of shippers, yet iron furnaces are unable to secure sufficient supplies of coke, and many other manufacturing plants are closed because of inadequate coal deliveries. Mines are more fully operated, but there is no prospect of normal conditions until spring.” The foregoing is from the Weekly Trade Review of R. G. Dun & Co. It continues.: Extremely low temperature duriug the last week stimulated- distribution of heavy clothing and other seasonable goods. Retail trade was accelerated by the customary clearance sales, especially in dry goods and kindred branches. Traveling men are sending in large orders for spring goods, the volume of advance business surpassing the customary amount for this time of year. Quiet conditions in the iron and steel markets do not mean dullness or diminishing consumption, but merely the oversold condition of furnaces and mills, together with great uncertainty about keeping plants active on a day to day supply of fuel. Inquiries are numerous, especially in structural lines, but makers are not ready to accept bids until the future nnpears more definite. New plans constantly come forward for large office buildings, notably at the West, which means vigorous consumption of structural steel, and the demands from car builders are phenomenal. Practically the entire capacity of the leading plants is already booked for six months, and at many concerns the last half of the year will bring no idleness unless orders are canceled.

Eastern manufacturers of footwear artfully employed on spring shoes, but new orders are light for later delivery, although western jobbers purchase freely of fall samples. Quiet conditions in leather have been succeeded by an increased demand for hemlock sole and standard upper, shoe manufacturers placing liberal orders. Last week's -slight i recovery in the hide market was apt sus-’ taiued. Dry goods trading has increased in volume, buyers arriving' in great, -r numbers, and the prospect -favors still more activity in the latter half of the month. There is little disposition to anticipate wants in the cotton goods division, but immediate needs have evidently grown more pressing. In the woolen gpods division the opening of piece dges xFas made at an advance,~ETrt not as much as - some sellers anticipated. Bradstreet’s weekly report on grain says: Wheat exports since July aggregate 140,0-10,800 bushels, against 158,001,139 last season and 107,210,908 in 1900. Corn exports aggregate 2,394,012 bushels, against 2,850,980 last week, a year ago and 5,184,550 in 1901. Foil tha fiscal year exports are 15,978,018 bushels, against 21,255,447 last season and 108,935,495 in 1901.

“ The wheat market showUllGaOO. e ‘l strength and made a a material advance during the week. Conditions favored strength and the advance appears warranted. There Were reports of good business nt the-seaboard and large sales of-wheat and float, to co out later to Europe. Here in America, anil more especially in tbe Northwest, sentiment lias favored higher prices for some time. But the foreign markets, Liverpool especially, would not follow the advances on this side. With a good crop in sight in Argentina wheat importers in Liverpool are slow to anticipate their wants, and will naturally hold off as long as possible. During the week there was evidence that there was wheat needed nbrond for immediate use. At present it looks as if there w»«ld be demand from Liverpool for good American wheat in any event, while if it should develop that the Argentina crop is not so large or the quality not so good as has been figured upon, the demand for American wheat would be great.