Rensselaer Semi-Weekly Republican, Volume 35, Number 123, Rensselaer, Jasper County, 9 October 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

l» « j I B- G. Dun & Co.’s NeW I OrK. Weekly Review of Trade ' says: Notwithstanding several unsatisfactory features, the volume of trade continues large ~and the distribution- of merchandise taxes shipping facilities. Announdement of a concerted effort to restrict production of pig iron indicates that supplies have begun to accumulate. Railway earnings continue to show gains, for September thus far exceeding last year’s by 8.7 per cent, and those of 1901 by 17.2 per cent. New labor controversies have begun, but a number of serious troubles have been averted, and on the whole the number of men idle voluntarily has diminished. Enforced idleness in the iron and steel, industry is more than offset by the resumption of spindles at cotton mills, and therq is great activity at footwear factories, although the margin of profit is narrow. Lower prices for the -leading agricultural staples Indicate a general belief in Improved crop, prospects. ■ 0 ~ The decline in stock valLDICMO. ues *** re fl eete d on Wall a street creates no hesitation in local trade, and while grain has suffered a sharp deeline, the market for breadstuffs is in a healthier condition and trading largely increased. The Industrial situation furnishes no evidence of curtailed production. , Labor is well employed, wages good and the mills and factories are pressed to the limit of capacity. Earnings of western roads run ahead of a year ago, and increasing congestion of traffic indicates the urgent need for additional equipment, particularly for the marketing of crops. Distribution of fall Merchandise has,not yet reached the diminishing point. Mercantile collections generally are good. Dealings in breadstuffs were largely influenced by the better crop conditions, and the volume of business was heaviest this sea Son. Buying both for domestic and foreign accounts was unusually strong, but on the free offerings and reassuring reports of a 2,000,000,006-bushel crop of corn prices weakened in all the pits. Compared with last week's closing corn declined 5)4 cents, wheat • ♦ Cents and oats 1% cents. The Market closed at n slight rally bn the best export takings of the week. Live stock receipts, 291,883 head, are 27 per cent over a year ago. Heavy cattle were in ample gupply and fell 2 cents per hundred weight under a week ago. Hogs and sheep were readily absorbed, both advancing 20 cents.

Bradstreet’s Trade Review. Reports of conservatism and even caution in fall and winter trade testify to the absence of the spur of insistent demand which a year ago gave the selling side such an advantage. Strikes of vessel men on the lakes retnrd shipments, and advanced freight rates and high prices for cotton, with lack of correspondingly higher prices for finished pro-, ducts, check full resumption of operations. Wheat, including flour, exports for the week ending Sept. 24, aggregate 3,059y--480 bushels, against 1,909,083 last week, 5.077,070 this week last year, 4,470,352 in 1901 and 3,242,810 in 1900. For twelve weeks of the cereal year they aggregate 36,214,681 bushels, ngainst 59.009,137 in 1902, 74,127,105 in 1901 and 38,743,068 in 1900. Corn exports for the week aggregate 779,230 bushels, ngainst 787,107 last week, 74,952 a year ago, 585,706 in 1901 and 2,156,171 in 1900. For twelve weeks of the present cereal year they aggregate 11,605,251, 991,G27 in 1902, 11,224,692 in 1901 and 38,333,118 in 1900.