Rensselaer Semi-Weekly Republican, Volume 37, Number 9, Rensselaer, Jasper County, 3 February 1905 — COMMERCIAL AND FINANCIAL [ARTICLE]

COMMERCIAL AND FINANCIAL

Chicago,

The weekly review of Chicago trade, published by R. G. Dun & Co., says:

Trade conditions manifest a cohesiveness which has gathered strength from the week’s activity in important branches. The primary markets for foodstuffs maintained steadiness in both grain and provisions; jobbing transactions in general merchandise for spring deliveries cpened up well, and manufacturers negotiated new business engaging capacity in a large degree. Prices have become more clearly defined for raw material and factory product, and their firmness makes it less difficult to close undertakings involving heavy outlays. Lumber, leather and finished steel were in good demand, and additions made to active furnaces reflect further gain in the consumption of pig iron. Marketing of grain and live stock exhibits increase, and, despite the obstacles of severe weather in the West, railroad earnings emphasized the movement of commodities. Recent bank statements disclose an ample supply of money, and the higher total loans over two months ago made a better showing than had been expected. Mercantile collections generally are without adverse features, defaults being lower in both number and liabilities. Traveling salesmen have forwarded satisfactory orders for staple merchandise and report favorably as to the trade prospect. Forward business thus far accumulated makes a good showing in dry goods, clothing and footwear. Jobbers expect some expansion in their operations, and little hesitancy is seen in securing supplies for country requirements. Consumption of winter lines has made notable progress, frequent recorders indicating that replenishment is going on at numerous interior points. Grain shipments, 2,291,463 bushels, present a slight excess over those a year ago, and receipts, 3,419,381 bushels, compare with 4,173,512 bushels. Price changes were fractional; corn closing higher, wheat and oats lower. Domestic demand for provisions was ot fair volume, quotations showing no change in pork, but being a shade off in lard and ribs. Failures reported In the Chicago district numbered 31; against 48 last week and 37 a year ago.

Nev York.

Bradstreet's report on the general outlook of the country has this to say:

Industry maintains a position of pre-eminent activity, while distributive trade for spring, not as yet fully open. lacks definite form in some lines. The holding-off tendency hitherto noted in the cotton goods trade continues, but in woolen .goods fall fabrics have been opened at a notable advance, shoe and leather goods show increased activity, hardware and groceries are being sold freely, and lumber is strong at higher prices than last year, and with manufacturers active, though ultimate distribution is curtailed by seasonal influences. The feeling is one of great confidence in the future. Business failures in the United States for the week ended Jan. 19 numbered 304, against 295 last week, 266 in the like week in 1904, 253 In 1903. 292 in 1902 and 281 in 1901. In Canada failures for the week number 37, as against 24 last week aud 25 In the week a year ago.