Rensselaer Semi-Weekly Republican, Volume 35, Number 44, Rensselaer, Jasper County, 6 February 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

[~ " | “Heavy transactions in NOV IOrL merchandise are reported, I— - , out there is much complaint regarding the slow movement of freight. The situation as to general lines Is aggravated by the precedence given fuel over all other freight except live stock and perishable goods. Notwrfft 4 standing the extensive increase in transporting facilities during the last .year, some roads have been .compelled to decline consignments, and in many cases where a targe number of cars were desired only one was provided. Earnings thus far available for January surpass last year’s by 5 per cent. It ip conspicuous in practically every section of the country that, despite high pric<», buying is liberal and of the better qualities of goods, while dealings as a rule are on more of a cash basis.” The foregoing is from the Weekly Trade Review of It. G. Dun & Co. It continues: .Demand for building materials is unusually brisk for the season, and prices of lumber at the South have advanced. Although aro receiving a better supply of fuel, the situation is still serious, and many pig iron furnaces have been added to the .idle list. As producers have sold their capacity for some time there is little 'new business and no effort on the part of sellers to secure contracts. Hence prices of pig iron are steady and new transactions light. x New England producers of boots and shoes are actively engaged on seasonable lines, and there is enough business on hand to keep most plants in.operation for two months at least. New business comes forward rather slowly, and there are few supplementary orders for spring lines. As to cotton goods, the situation grows steadily stronger, demands for immediate needs preventing accumulation of supplies and leaving an increasing number of** orders unfilled. A few open advances in quotations are recorded, while a quiet curtailment of discounts is reported in progress. Bradstreet's says: Wheat, -including flour, exports for the week aggregate 3,538,757 bushels, against 4,878,624 last week, 3,639,679 in this week a year ago and 4,838,678 in 1901. Wheat exports since July 1 aggregate 144,179,557 bushels, against 161,643^818.1a5t season and 112,049,646 in 1900. Corn exports aggregate 2,376,663 bushels, against 2,394,612 last week, 179,520 a year ago and'3,972,152 in 1901. For the fiscal year exports are bushels, against 21,434,967 last season, and 112,907,647 in 1901.

~ Much interest is already ufllCdOO. being shown in. the matter a of the probable course', of the money market during the spring mid summer. It is thought that land speculation in the West will be an important factor. Much western money has been tied up in lands. Heavy investments have been made and many payments on contracts will be due March 1. Renewals of loans and financing of new western land deals may keep some money in the West that would otherwise drift into eastern financial centers for employment. It is a long look ahead to next fall, and opinions at this time are not worth much, yet it is interesting to note that there are many who look for a repetition then in an aggravated form, of the money stringency of last fall, unless Congress gives us a new currency law. With this therG-4s the , possibility an extra session of Congress as a disturbing factor. The business world having taken a passive interest in the workings of Congress for several years, finds it advisable to watch proceedings closer now that antitrust legislation is up, and tariff revision sentiment is gaining. The demand for merchandise in general is reported heavy and fully up to expectations. The securities markets have been without special new feature. The Northwest had a good week.