Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-04-06
BUSINESS FEATURES.

BUSINESS FEATURES.
Another week of good weather has
brought out a large volume of business.
many manufacturers receiving urgent
requests for immediate Shipment.
Floods have caused serious losses at a
few points along the Mississippi, and
traffic was interrupted on railways in
that vicinity, but on the whole the
freight situation is more satisfactory
than at any previous time this year.
Quicker transportation has relieved the
fuel pressure, and the industrial stu
alton would be unprecedentedly ia
vorable were 1t not for the prevalence
of labor disputes. Numerous agree
ments have been reached, but April
brought more than the customary num-
Der of strikes, and probably fifty thou
sand men are voluntarily idle who
might be well employed at the highest
level of wages ever paid IN this or
any other country. An economic loss
of this magnitude affects many more
than those directly concerned. Thus
far the most serious controversies have
occurred in the building trades and
textile lines. Railway earnings in
March increased $50 per cent over last
years, and 21.1 per cent as COM
pared with 1901. Bank exchanges for
the week at New York were 1871 per
cent larger than year ago, but fell
1910 per cent compared with the clear
ings two years ago when the stock
market was establishing new records
OF activity. At other leading cities
there were gains of SO and 4.5 per cent,
respectively.
During the month of March prices of
commodities, as measured by Dun's
Index Number, declined to S99.267 as
compared with s101.067. This decrease
is only seasonable, and is about the
same as occurred in the corresponding
period last year. Breadstuffs and met
ais provided most of the change. in
creasing supplies and encouraging
weather lowering the cost of cereals,
while the new schedule of conl prices
is the chief alteration in the other
class. Security prices also declined
1901, and an optimistic interview with
the most prominent man in Wall street
only temporarily checked the decline
Preparation for the largest April divi-
dend payments on record helped to pro-
duce rate of Is per cent for call
money and prevented any extensive
operations on borrowed capital. For
eign exchange ruled weak, and exports
of merchandise from New York were
81, 561,T30 larger than a year ago, in
creasing the supply of commercial
bills.
Results in trade and industry during
the first quarter of 1903 appear con-
spicuously satisfactory when measured
by the negative standard of failures
There were only 2, 500 trading defaults
with liabilities of $15,S6S,945. agains,
81 O2 failures for $15,517327 last year
Manufacturing returns are still more
gratifying, Cos bankruptcies involving
l$13,692,718 comparing with 746 failures
with liabilities of $14,775.904. In adj
dition, there were 1876 failures of a
commercial nature, with an indebted
ness Of $4,7S2,700, which compare with
| 40 similar failures for $3,43S,527 last
year. In banking and other fiduciary
lines the exhibit was very good, liabil-
/ tiles of $4,563.402 comparing with $780,
| SIS, 1858 a year ago, diminution of two
thirds. These comparisons are better
| appreciated when the growth of bust
ness is considered, and more instruc-
tive lesson is derived from the proper
ton Of liabilities to solvent payments
thru the clearing houses, which was
s1.14 to $1,000. compared with So or s.
| in earlier years. The ratio of bad debts
| to each firm in business was $27.39
only three years in a generation show
| ing a lower proportion.