Rensselaer Semi-Weekly Republican, Volume 35, Number 128, Rensselaer, Jasper County, 6 November 1903 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

“77 | R. G. Dun & Co.’s New ion Weekly Review of Trade *- ' says: Numerous labor controversies have appeared and more furnaces and mills have closed, the tendency being to operate only the plants provided with the most modern equipment. There is no anxiety regarding legislation at the special session of Congress, and despite, the curtailment of activity, iu manufacturing lines a heavy volume of business is b6ing transacted. Flour mills at Minneapolis have fully resumed, and a big season’s cut is contemplated at Minnesota lumber mills. Western traffic facilities are proving inadequate, the distribution" ~of merchandise being enormous at the interior, and, taking the country as a whole, conditions may be considered fairly satisfactory, although there are indisputable evidences that abnormal activity has received a check. Jobbing trade has become more quiet with the advancing season, and at many points the is not calculated to maintain buying^ of wearing apparel at retail. Gross earnings of the railways thus far reported for October -surpass last year’s by G. 2 per cent. Another general reduction quotations of pig iron has occurred, notwithstanding the restriction of output, and" a movement is on foot to further reduce production unless business improves. New orders are few and limited to immediate requirements, which is also true of finished steel. Not only have additional contracts failed to be offered, but cancellations jot old orders are reported. Failures this week numbered 279 in the United States, compared with 239 last year, and in Canada 2G, against 22 a year ago.

I TT; The position of general LMCagO. trade is one of continued ! steadiness, and is strengthened by favorable reports, from the agricultural districts showing progress in farm work and the reopening of an important branch in the steel industry, assuring employment to severals thousand men. Harvesting of the crops is well advanced, and the only difficulty in marketing is owing to deficiency in necessary cars, felt most throughout the Sonthwest. Gain appears in the receipts of leading products, except wheat, which shows disappointing volume. Distribution of merchandise remains as large as in the corresponding week of last year, and consumption shows little change, the buying in retail lines being of the best and very strong in wearing apparel and other necessities. Considerable business in staples is handled by jobbers, and the mail-order houses are tested to the full capacity of their working forces. Grain shipments for six days, 4,327,033 bushels, are 30 per cent under the previous week, but largely in excess of a year ago. Dealings in the pits are less animated and prices are influenced in the leading cereal by increased Argentine shipments to Europe. Domestic buying of wheat is good nnjl helps to maintain the price, which closed the same as for the previous * eek. Coarse grains included few imffortant transactions and, the closing shows declines in corn 'fiveeighths of a cent and oats half a cent.

Bradstreet’s Grain Report. Wheat, including flour, exports for the week ending Oct. 22 aggregate 4,265,080 bushels, against 2,865,610 last week, 7,060,137 this week last year, 4,952,134 in 1901 aud 4,932,978 in 1900. For sixteen weeks of the cereal year the aggregate 49,806,774 bushels, against 53*826,319 in 1902, 95,530,959 in 1901 and 50,216,311 in 1900, Corn exports for the week aggregate 1,809,885 bushels, against 1,410,412 last a week, 84,564 a year ago, 1.188,288 in 1901 and 3365,(551 in 1900. For sixteen weeks of the present cereal year they aggregate 17,050,537 tyjshels, against 1,578,846 in 1902, 14,639,183 in 1901 and 49,847,048 in 1900.