Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-07-20
BUSINESS FEATURES.

AT the lowest point on WEDNESDAY
the average of the sixty most activ
railway stocks was $S9.is, surpassin
all low records since the memorabl
collapse on May 9, 1901, when the aver
age touched SS6.25. In neither case wa
liquidation in Wall street due to de
preston in legitimate business. bein.
confined to stock market and financial
factory outside the region of specula.
ton, many reports indicating further
Improvement. During recent month.
the two disturbing factors have beer
labor controversies and weather condi-
Etions. but each week has brought bet
ter things in these two respects until
/ the outlook contains much that Is en-
couraging. Crops are making rapid
progress and the army of unemployed
Iearnings thus far reported for July eX-
Iceeding last years by 1875 per cent and
those of 1901 by 1872 per cent. Exten-
sive preparations are being made to
move the crops and 1t Is hoped that no
iblockades will occur. attic there Is
isome doubt as to whether adequate mo-
tive power can be secured. Retail
trade in seasonable merchandise is fully
up to the average and there is less than
+ba o,c tn,,,or,- ,,,idsup,,,,ar o,,taf anon ~
wholesalers, while the preparations of
jobbers and manufacturers indicate
confidence in large fall business. Bank
exchanges at New York for the week
were Sc per cent smaller than a year
| ago and 1872 per cent less than in 1901.
while at other leading cities there was
loss of 3 from last year and gain
OF 3.4 over 1901.
Unsettled conditions still exist in
forge and foundry pig iron markets,
while Bessemer iron is only barely
steady. The chief difficulty appears to
be the inclination Of pros pective pur-
chasers to wait for the lowest possible
quotations. This is a condition to be
expected in a declining market but APP
pears unusually aggravaing in the
present instance. Current consumption
is heavy and the delay Is only in con-
rection with distant deliveries.
Supplies of cotton goods in first
hands are low and there is no effort
to make spot sales. New lightweight
woolens are being opened with fair re-
suits only, buyers exhibiting no ankle
ty regarding the future. Western job
bers are operating freely in the Boston
footwear market, both on contracts for
orders. Eastern wholesalers are also
purchasing additional fall supplies, and
New England factories are fully occu-
pied.
1t was natural that satisfactory re-
port as to the grain condition should
produce q lower level of quotations, the |
more SO because prices were abnormal |
ly inflated, and the weather was even
more favorable after July /, the latest |
date covered by the department esti-
mate. Trade and other private esti-
mates promise a total yield of the three
leading cereals fully equal to any pre-
ceding record. Exports of wheat and |
-four for the crop year we're about 20l,-
100000 bushels, somewhat less than the |
average for recent years. Inquiries are
now for foreign account, blu;
prices prevent liberal engagements.
for the week were 1,S6S.736 |
bushels, against 2545,560 bushels last
year and 4,349,26S two years ago. West
ern receipts were also restricted, $780,
472 bushels arriving during the past
week, compared with 4,457,224 a year
ago. Corn fails to exhibit the custom
airy large gain over last years figures,
of 2,923,661 bushels comparing
with 2,S99,9S3 year ago, but Atlantic
coast exports were 911,964 bushels,
against 103,4O2. Cotton was less active
y
disposition to operate aggressively
against the controlling interest. Mean
while consumption steadily declines.
Official returns OF foreign commerce
for the fiscal year ending June 80, 1903,
testify to the steady growth Of our
.rade with other nations, the total value
)f merchandise imported and exported
rar surprising all previous years at 81
ii5,6l0,417. Imports made the most
striking record, not only exceeding
billion dollars by $25,619.127. but show
ng a gain of $122.29S,179 over the pre-
gious years imports. AS these goods
we're purchased abroad without In any
was curtailing domestic production, 1t
'ollows that consumption In this coun-
ny has been at marvellous pace.
VI Meanwhile exports were we'll MAIN
aimed, amounting to $1,319,991, 290,
which exceeded the previous year by
'2S,271,S99 and compares faVorably ,
Nth every preceding year except the J,
ne ending June 30, 1901, when special
actors were much in evidence and {
icme demands less urgent. Owing to
he more rapid growth of imports, the
balance of trade has been less heavily