Rensselaer Semi-Weekly Republican, Volume 35, Number 80, Rensselaer, Jasper County, 12 June 1903 — COMMEPCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMEPCIAL AND FINANCIAL

Tj 71 —] “W eat he r conditions Hew York. have improved, particular- - — ly ns regards the great staples, although considerable losses have occurred in garden truck and other minor farm products at the East owing to drought. Labor controversies are still the most disturbing factors in the situation, nnd it is difficult to anticipate bow far distribution of merchandise will he affected. Structural material of all kinds is moving slowlybecause of strikes nr the building trades, which are now exercising more widespread influence than other disagreements. At the East the trade situation ia satisfactory as a rule. Railway . earnings thus far reported for May were 12. S per cent larger than last year nnd surpassed those of 1901 by 25.0 per cent,” according to R. G. Dun & Co.’s Weekly Review of Trade. Continuing, the report says: After many weeks of discussion the expected transaction in pig iron was completed, involving a heavier tonnage than was generally anticipated and shtfwing but a small decline in price. Considering the improved conditions as to fuel and transportation, the magnitude of the contract and the ample time in which to make deliveries, $19.35 at Pittsburg, was by no menus a low price. Some decline was to be expected, and only by a readjustment of quotations can this industry maintain the activity for which enlarged facilities provide. Demands for steel rails have'again become urgent, particularly from trolley roads, and the rail mills that have been making billets will resume their regular business next week. As practically all this year’s output has been sold, the question of quotations in 1904 is under consideration. Structural steel is still adversely affected by labor disagreements in the building trades' but in the iron and steel industry there have been numerous settlements and few serious conflicts are in progress. Under the new tin plate scale an increased output is provided, and the mills are fully occupied with large orders on hand. Nevertheless, tin declined through liquidation at London.

New Englaqd footwear factories are busy on fall contracts, but few supplementary orders have been received. Leather sells freely, hemlock sole being in great demand for western footwear manufacturers. Domestic hides again average higher, witli notable strength in Colorado hides. Supplies of winter and early spring saltings are abundant, but there is no surplus of better qualities now coining forward. Increased receipts of foreign dry hides have not depressed prices. Failures this week numbered 20(5 in the United States, against 194 last year, nnd 7 in Canada, compared with 20 a year ago. Bradstreet'a Trade Review. Wholesale trade awaits crop, labor nnd price developments. Too much rain is reported for western crops, but particularly for corn, the planting of which is still delayed. The tendency toward readjustment of prices of iron is shown in the reduction of 25 to 50 cents per ton at seaboard markets. Large buyers at Chicago say they will take hold at concessions. „ The outlook as to the country’s export trade is by no means depressing. Exports of manufactured goods for the month of April were only twice exceeded in the Country’s history. Wheat, including flour, exports for the week ending May 28 aggregate 4,077,678 bustiers, against 5,293,373 last year, 3,900,045 in this week last year and 4,138,970 in 1901. Wheat experts since July 1 aggregate 205,571,810 bushels, against 233,424,840 last season and 193,856,995 in 1900. Corn exports aggregate 1,179,739 bushels, against 1,814,184 last year, 71,488 a year ago and 2.037,043 in 1901. For the fiscal year exports are 01,430,841 bushels, against 25,900,597 last season and 165,159,107 in 1901.