Rensselaer Semi-Weekly Republican, Volume 36, Number 54, Rensselaer, Jasper County, 26 February 1904 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

1 Feb. 12 R. G. Dun & NGW YOrK. Co.’s weekly review of ——- trade says: War, fire and cotton were the adverse factors of the week, yet the country Blood the shocks remarkably well, and there are numerous encouraging symptoms. To a large degree the outbreak of hostilities in the Orient and the collapse of the cotton boom had been discounted, and the disastrous loss of the conflagration was offset very largely by the stimulus it will give to many industries, notably structural steel. Iu restoring Baltimore there will be great activity in the building trades, while large stocks of goods must be replaced and orders filled by jobbers and manufacturers elsewhere. Buyers are arriving in this city in large numbers froth all sections of the country, uirtl there is a good demand for all ' leading staple linos with notable urgency for prompt shipment of cotton goods. The labor situation throughout the country is almost devoid of friction. More or less traffic congestion from the weather, and this factor accounts for the small loss of 1.7 per cent iu railway earnings during January. _, Actual- business is still restricted in the iron and steel industry, but there is more confidence in the future, aud the extensive starting of plants by the leading producers suggests that foreign markets will he entered more aggressively than ever before. Structural steel prospects have greatly improved because of the Baltimore fire, as it is certain that an enormous tonnage will be required to restore the ruined buildings. As to pig iron, no improvement is seen. Minor metals have developed irregularly, but hard coal is in good demand. New England shoeshops are still fully occupied on spring lines and fall samples. Trade in rubber goods is less active. It is not surprising that irregularity appears in the cotton goods market, iu view of the violent decline of the raw material. Forward business is completely demoralized, buyers naturally hesitating to place orders on a market that varies $5 a bale in a single day.

—p, , 1 The movement or general (jlljCdQQ. I merchandise was less imI peded by the severe weather, and, although congestion may not entirely disappear soon, conditions are improving. Railroad managers have found offerings in larger volume for the interioi and a wider forwarding of farm products, necessitating active measures to remove impediments to traffic. The consumption of necessities proceeded without diminution, and retail trade remained strong in wearing apparel und‘household needs. Road' salesmen turned iu liberal orders in the staple lines, and with larger numbers of visiting buyers in the market the jobbing trade advanced satisfactorily. dealings being mainly in the textile fabrics, footwear and clothing. Higher cost of cotton goods Induced freer buying in these lines, and better—imying of stocks anticipates a probable ndvance in prices owing to the war in the East. The distribution of wares bids fair to compare favorably with that Of a year ago, Western r> -iuirements being greater on the increased population and the prosperous state of the agricultural interests throughout the West. Mercantile collections generally occasion little complaint. Developments multiply in favor of an early revival in various manufactures and in new construction involving the use of much raw materials. Grain shipments, 2, 4(52,148 bushels, include 1,138,407 bushels of corn, and are 37 per cent over the volume of a year ago. Cash dealings in foodstuffs increased with the outbreak of hostilities in the far East, the largest -sales occurring in corn, pork and ribs. The May wheat option rose to 97 cents, and closed fairly strong at 1% cents lower. . Receipts, compared with those of a year ago, increased as follows: Corn, 4 per cent; butter, 11; sheep, 15; barley, 20; rye. 29; cheese, 34; flour, 70; lard, 180, and wool. 300. Decrease are: Wheat, 7 per cent; hogs, 17; dressed beef, 20; cattle, 20, and oats, 28.