Rensselaer Semi-Weekly Republican, Volume 35, Number 144, Rensselaer, Jasper County, 25 December 1903 — COMMERCIAL AND FINANCIAL [ARTICLE]

COMMERCIAL AND FINANCIAL

JTJ Jfj , • R. G. Dun & Ca’s N6V I OrK. Weekly Review of Trads Developments are not encouraging as to votton spinning, but there is evidence pf better conditions in the iron and steel , industry, while retail trade feels the Usual impetus as the holidays approach. Idleness among New England lumber fnills is offset by increased activity in the South. Owing to pressure of grain there is still delay in handling freight promptly at a few western points, but sis a rule traffic facilities are adequate, ind railway earnings for November show an average gain of 4 per cent over last year. It is significant evidence of the attitude of consumers that, while the output of pig iron declined to about 1,000,000 tons in November, the lowest point in several years, furnace stocks rose to 658,107 tons, exceeding all recent records. Such a striking discrepancy indicates clearly the extent of contraction in this leading branch of manufacture. From present indications it seems almost certain that the situation will show some improveiiient by the end of this month, although inventories always retard operations during December. Footwear manufacturers" report new business seasonably quiet, but plants are taxed to their full capacity, in most cases on old orders, and western jobbers are expected to place liberal supplementary contracts. Further - gains afe recosded in hides, both domestic and foreign. Cotton spinning is completely demoralized by the raw material situation. The margin between buyers and sellers has widened and little new business is reported. Quotations of cotton goods arc now practically nominal. In the woolen goods division new lines of overcoatings have been opened nt a slight decline below last season’s prices, and there is no improvement in other branches of the in- a dustry. Failures this week numbered 331 in the United States, against 269 last year, and 20 in Canada, compared with 30 a year ago.

TT; Interest in business deLillGdQO. velopments centers mainly a at this time in' the progress made toward the final distribution of seasonable merchandise. Reports gathered Indicate that results equal anticipations, both in jobbing and leading retail trade, the aggregate volume of dealings making a favorable comparison with the corresponding period of last year. Hesitancy in the buying of costly wares is less noticeable, and the jewelry, music and art departments have assumed increased activity. Reorders are good' in the aggregate in 'several branches of wholesale dry goods, footwear and heavy clothing, and the mail-order houses are pushed to the limit of tlieir shipping facilities. Groceries and collateral lines are fully sharing the activity incident to this season. Other staples* enter freely into final consumption. Prices ruling for most necessities average as high and profitable as they did twelve months ago, Manufacturing industries present no important new feature. Grain shipments, including 727,798 bushels of corn, aggregate 2.279,554 bushels, a decrease of 12 per cent., compared with a year ago. Favorable accounts of crops in the Argcutine and Australia, together with a sharp falling off in the domestic demand, account in some measure for lower prices. Compared with the closing a week ago wheat fell 2% cents, corn % cent 4nd oats % cent. Receipts of live stock, 348,332 head, are 14 per cent, less than a year ago. , v *