Rensselaer Semi-Weekly Republican, Volume 36, Number 60, Rensselaer, Jasper County, 18 March 1904 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

.. w Special telegrams to the hßlf lOffl. International Mercantile — ' Agency from leading cities and towns throughout the United States and Canada indicate'"that the "past week has been the most broken and irregular iu general trade circles since the year began. Railroad operation since Jan. 1 has been disappointing to both roads ami shippers. Rate wars between Chicago and Missouri river points, with higher prices for cereals, have stimulated the movement of grain and, ns an indirect effect, have increased buying throughout the entire winter wheat region. St. Paul, Minneapolis and Duluth spring wheat country centers do not find trade as active as anticipated. Prices have advanced $2 a ton for steel pipe and for wire products anJ 75 cents a ton for bessemer pig, at Pittsburg. consequent on the trust purchase of-100,080 tons. That interest is also reported to have options for 40,000 tons of bessemer each, for April and May deliveries. A leading southern pig interest lias sold its gutput to May 1. Advances have been shown by cotton and sugar, while declines are noted in the overstimulated cereals, in provisions and in Ohio petroleum. There is less call for money for mercantile purposes at banks at a number of cities, notably at New York and Boston,

General trade is showing, relatively, most activity at Chicago, Pittsburg, New Orleans and St. Louis. At Baltimore it is 20 per cent less than a year ago, due to interference by the fire. Cincinnati reports a moderate gain, and Boston rather less trade than a year ago, but with hopefulness for an early increase. Among some of the larger cities wages in industrial lines are stationary. In the Canadian dominion trade has been more active owing to an influx of country buyers at important centers.

r ,. R. G. Dun & Co.’s LIIJCdQO j Weekly Review of Trade L_ I says: An encouraging development of the week has been the renewal of agreements ns to wages for another year entered into between employers and large forces of workers in various Industries. This gratifying consummation paves the way for steady operations of plants and opportunely prefaces the opening of the season, when increased numbers of men are employed in factory and outdoor labor. With less severity in the weather the distribution of commodities was made easier, but deliveries are yet retarded and general complaint accentuates scarcity of cars. Retail trade made some advance in volume, milder temperatures having helped materially in creating' a better demand for the leading lines of spring apparel and household needs. Outside buyers appeared in larger numbers in the jobbing district nnd dealings assumed more activity in most of the staple goods. Transactions in dress materials, silks and clothing reached a larger aggregate, and were steady in linens, footwear and furniture. Cotton goods were taken more freely for the interior, but city purchases were confined to present requirements. Grocery staples nnd canned goods were seasonably active, and large quantities of drugs, paints and oils were placed for prompt forwarding to western points. Jobbers are now busy on general shipments of merchandise, and current collections continue good. ~—*- Grain shipments, 2,230,022 bushels, are 7 per cent under those of a year ago. Receipts of farm products increased to proportions indicating heavy realizing on the recent rise in prices. Speculation in the futures lost its buoyancy and declines in quotations were made without any substantial recovery. The average fell back to n slightly lower level than three weeks ago. Receipts of live stock, 415,439 head, compare with 283,060 year ago. Failures in the Chicago district number 23, against 22 the previous week and 23' a year ago.