Rensselaer Semi-Weekly Republican, Volume 36, Number 73, Rensselaer, Jasper County, 6 May 1904 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

.. V b 1 Advices to the Internanߥ IOfK. tionai Mercantile Agency indicate continued prosperity of general trade, notwithstanding setbacks due to unseasonable weather. Conditions in the South are especially satisfactory, jobbers reporting excellent sales, with orders considerably in excess of a year ago. This improvement is noteworthy in dry goods, where spring business is promising. Conditions in and about St. Louis are specially favorable and continue to reflect the exposition demand, which Is contributing great activity to varied lines. Excellent spring trade is noted in hats, caps, boots, shoes, clothing and kindred branches. The outlook for iron and steel is not so bright as it was a week ago, owing to depression existing in some lines. Failure of the United States Steel Corporation to exercise its option on pig iron has had a depressing effect on that market. In billets the demand is good for early work, few contracts being made for business delivered later than July 1. In finished products prices hold firm. The market in general, however, rests upon a solid basis, but affords little promise of thorough spring revival until railroad buying begins. Seeding throughout the Northwest Is a fortnight late, but actual work is now Veil under way. Merchants generally are prosperous, making little complaint concerning the backward spring. The outlqpk for general trade in this section Is very encouraging. In Canada the incident of chief importance has been the Toronto fire. The property loss, although estimated at $lO,000,000, is not likely to reach that figure. Railroads are becoming gradually relieved of embarrassments incident to winter blockades, and earnings in consequence are improving. The woolen industry is somewhat depressed, owing to the preferential tariff. The largest plant in the dominion wus offered this week for sale. I ax. Dun’s weekly review of LDlCdyO. trade in the Chicago dis- — trict says: With the favoraMb change in the agricultural outlook, due. to copious rains throughout the grain belt and to continued poor demand and low shipments, the sharp fall in values of breadstuffs which occurred was not unexpected, recent quotations having maintained an average too high to stimulate satisfactory consumption. Farm advices assumed an improved tone, trade conditions acquired added strength from a better general demand in both the producing and jobbing lines. Retail activity showed gain .over - the previorts week in the fashionable departments, and in household replenishings and foods. - Wholesale business maintained satisfactory proportions, the selections being good in furniture, notions and textiles. Other goods having a steady sale were footwear, clothing and women’s wear. City purchases of staples .were fair, and country merchants anticipate increased depletion--of their stocks when spring farm work ends. Mercantile collections were less prompt on local bills than for interior, but fewer defaults were noted. Railroad traffic has disclosed no material change In the movement of freight, but there was much larger passenger carrying and immigrant travel. Grain shipments, 1,522,393 bushels, are the lowest recorded this year, and G 8 per cent under corresponding week of 1903. Aside from the speculative feature the market was very dull in the absence of the leading buying factors. Little improvement seems probable until renewed demand appears from abroad. Cqmpared with last week’s closings values declined,, in corn 4% cents, in wheat 4 cents and in oats 1% cents. Receipts of live stock, 286,9G3 head, compared with 243,611 a year ago. Heavy beeves gained 5 centsf but the poor quality caused a decline of 20 cents in hogs.