Rensselaer Semi-Weekly Republican, Volume 36, Number 64, Rensselaer, Jasper County, 1 April 1904 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

— R. G. Dun & Co.’s NOV Yolk. Weekly Review of .Trade ■ —— hJ says: ■< Improvement in trade and industry continues, favorable reports largely out ; numbering adverse influences. The most important event of the week was thg two-thirds vote by the bituminous coal miners to accept the proposed reduction in wages. This will probably prevent a serious struggle that would paralyze manufacturing just when it is beginning to revive. Complications have arisen in the local building trades that retard structural work*.. but a settlement is anticipated and the open weather is stimulating outdoor work at other points. Retail distribution of Easter goods steadily expands and dealers’ stocks are being depleted because of conservatism in initial purchases. This promises large supplementary jobbing and wholesale orders as the season advances. Traffic delays arc still causing complaint, and the movement of exhibits to the St. Louis exposition provides a temporary feature of importance. Railway enrnings thus far available for March show a decrease of only .8 per cent as compared with last year’s figures. Another week has brought no check to the progress in the iron and steel industry. Improvement does not come suddenly, nor is there any inclination to advance juices by bounds, as in the boom four years ago. This conservatism will bring beneficial results if continued. All divisions of the pig iron market are more Active and the level of prices tends gradually upward.

Final distribution of neCnlCdQO. cessities was handicapped ___J throughout most of the week owing to the severe snowfall. The retail trade suffered considerably in its volume, but subsequently made some'recovery, although not up to normal conditions. The same cause obstructed the progress of outdoor work and delayed freight forwarding. Receipts of live stock have' shown further diminution, but all other farm products except corn were in liberal supply and heavier than the same week last year. Activity in manufactures made headway, and new business appeared to a fair extent in mill, factory and lumber products. The jobbing trade has disclosed no notable abatement, the markets being well attended, and purchases in the staple lines reached a satisfactory volume. Selections were welt distributed in dress fabrics, cottops and clothing, with the demand exceeding; the previous week’s in shoes, rubbers and women’s apparel. Dealings in tobacco, sporting goods and automobiles were increased, and good orders were placed in groceries, canned goods and hardware. Mercantile collections were reported less prompt on city than country bills. The recently noted improving tendencies in iron and steel were confirmed both in the aggregate’ business negotiated and in prices. Receipts of lumber ran 35 per cent short of a year ago. Grain shipments were 2,592,156 bushels, which is 4 per cent under those of a year ago. The buying of coarse grains was better than of wheat, but the market had a weak tone throughout and prices declined under the pressure of heavy offerings. Compared with the closing a week ago wheat fell 3% cents per bushel and both corn and oats 1% cents. Provisions were in lessened demand, foreign orders being scarce, and values shrunk as follows: In pork, 75 cents per barrel; in lard, 52 cents, and in ribs, 50 cents. Receipts of live stock were 278,915 head, compared with. 257,09G head a year ago. Choice beeves declined 10 cents per hundred weight and heavy hogs 5 cents, but the best sheep advanced 15 cents.