Rensselaer Semi-Weekly Republican, Volume 35, Number 82, Rensselaer, Jasper County, 19 June 1903 — COMMEPCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMEPCIAL AND FINANCIAL

“ “ j K “Tbe elements provided nBV iOrk. tlie onl y unfavorable developmefits of the week, and, while these may not prove far reaching in their effect, their .first result is seen in greater conservatism. Dispatches re- ‘ garding trade conditions at the leading cities are generally encouraging. Railway earnings in May were 12.7 per cent larger than last year and 25.4 per ct*ut greater than in 1901,” according to R. G. Dun & Co.’s weekly review of trade. Continuing, the report says: “There is still an inclination to defer the placing of contracts for iron and steel. The United States Steel Corporation has bought 105,000 tons of pig iron, chiefly for delivery during the third quarter, but the recent readjustment of quotations has not stimulated general activity in the industry. On the contrary, there is still hope for further concessions, and buyers are disposed to get the full benefit. “Importations are no longer encouraged and domestic producers are prepared to accept more export orders than was possible when home markets were under great pressure. Railway improvements and extensions are again under consideration, and much work will be dona when confidence is restored regardingjhe labor situation. “Textile industries show no material improvement. Sellers of cotton goods are unwilling to hceept contracts for distant delivery and even in immediate business there is little disposition to accept the prices offered. Interior trade reports are less favorable, Western business being affected by floods, while droughts in the East and numerous strikes restrict consumption. Conditions as to wooieu goods are practically unchanged. “Prospects eoutinne bright in the footwear industry. The average of domestic hides is again higher, and Colorados sold on a par with native steers. “Failures this week in the United States 182, against 206 last week, 119 the preceding week and 218 the corresponding week last year, and in Canada 24, against 7 last week, 14 the preceding week and 16 last year.” Bradatrcet’s Trade Review, “The country’s foreign trade promises well, failures are to a low minimum, and hank clearings, though reduced, by dullness in stock speculation, point to record totals outside of a few important speculative cehters. “Numerous strikes in the building trades liniit demand for lumber, brick, builders’ hardware, and, in fact, all classes of building material, but structural material remains surprisingly good in view of this. It is stated on good authority that the coal trade was never in better shape than at the present, and the consumer continues to paV freely the entire cost of last year's great" strike. Retail prices of Window glass are expected to advance. “Wheat, including flour, exports for the week ending June 4 aggregate 4,708,995 bushels, against 4.677.67 S last week, 4,600,055 this week last year and 6,644,644 'in 1901. Wheat exports since July 1 aggregate 210,280,805 bushels against 238,024,901 last year and 200,501,639 in 1900. Corn exports aggregate 1,013,871 bushels, against 1,179,739 last weelf, 86,254 a year ago and 2,455,102 in 1901. For the fiscal year exports are 62,450,712 bushels against 25,986,851 last season and 167,624,209 in 1901.