Rensselaer Semi-Weekly Republican, Volume 35, Number 150, Rensselaer, Jasper County, 22 January 1904 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

R. G. Dun & Co.’s ClliCdOO. Weekly Review of Trade * ' I says: Business generally entered upon another year’s activity under less unfavorable conditions than were feared, and the outlook seems less apprehensive. Large forces of men are gradually finding re-etaployment, although at lower wages, and as few objections aro urged to readjustments now being enforced by employers, serious labor controversies are not looked for. The volume of current dealings in staple lines is satisfactory. Retail trade has been good in seasonable necessities, and the wholesale branches report steady demand in dry goods, clothing and shoes. Advices from country dealers are of an encouraging character. New buildings and other heavy improvements contemplated promise X larger use of lumber and materials. Oliver elements of strength are strong buying of foodstuffs at higher prices, an ample supply of money for legitimate enterprise, and an absence of striking mercantile defaults. With the resumption of work in the iron and steel mills there is assurance of employment for many tnonths. Failures in the Chicago district num-ber--35 r -a gai nst 33 for the first week of 1903... .

Grain shipments aggregate 2,359,500 bushels, an increase of 10.03 per cent over a year ago. A wider fall of snow has protected a larger area of winter wheat. Increased values induced freer marketing of grain. Compared with the closing a week ago, corn advanced 1% cents and oats and wheat each 1 cent. Live stock receipts were 330,588 head, agaiast 359,357 a year ago. Supplies do not show the increase looked for. Shipping demand for heavy hogs and the best sheep was urgent at an advance in each of 10 cents per hundredweight.

~ Retail trade has been n6W YOTK. somewhat slow to recover from holiday dullness, partly because of the bad weather, which also retarded collections to some extent. Traffic was impeded and shipments of merchandise delayed. On the other baud, low temperature stimulated the demand for seasonable goods and burdensome stocks in the hands of dealers were reduced. Jobbers and manufacturers in those lines received supplementary orders and the wool market became firmer in tone, although actual sales did not increase materially. Mills and factories report irregular conditions, some industries opening the new year under very favorable auspices, while other branches are extremely quiet. ■ Latest returns of railway earnings for December are 5.4 per cent above those of last year. In the leadihg manufacturing industry the year opens with quiet conditions as to demand, but much irregularity in the matter of wages. Numerous reductions went into effect and several others are contemplated. During the last quarter net earnings of the leading producers were less than half those of the corresponding months of 1902, and similarly unsatisfactory exhibits were made by other concerns. These official returns indicate the heavy contraction in this industry, and there was a very large decrease in orders on hand at the opening of the year. Failures this week in the United States are 400, against 232 last week, 284 the preceding \veek and 350 the corresponding week last year. Failures in Canada number 37, against 17 last week, 22 the preceding week and 24 last year.