Rensselaer Semi-Weekly Republican, Volume 38, Number 13, Rensselaer, Jasper County, 22 September 1905 — COMMERCIAL AND FINANCIAL [ARTICLE]

COMMERCIAL AND FINANCIAL

Chicago. |

Business genera 11 y—maintains encouraging strength and has attain-

ed such unusual magnitude that any specific recession is readily discerned and invites comment Which has only a temporary basis. This week’s developments reflect diminished activity in the grain markets, due to smaller offerings and low prices for wheat. Other leading branches exhibit continued improvement, particularly those which absorb great quantities of raw materia]. Prices have commanded attention and where changes occurred these were responsive to expanding demands upon future production., The reaffirmation of S2B a ton wa# promptly followed by heavy commitments for rails, Chicago roads alone securing nearly 300,000 tons for delivery before July, 1906. Northern pig iron assumed a firmer tone on good buying, and an advance in cost of structural shapes has not interrupted the wide demand for prompt shipment from mills. Building needs sustain higher quotations for suitable lumber, while recently noted advances are yet conspicuous in hides, leather, wool and footwear. The total movement of grain at this port aggregated 8,007,516 bushels, against 10,131,568 bushels last week and 9,427,022 bushels a year ago. Receipts decreased 25.4 per cent, but the shipments gained 11.4 per cent over the corresponding week last year. Ather movements of commodities have remained large, notably flour, dressed beef, dairy produce, iron ore, fuel and lumber. Railroad traffic, shows rapid expansion and Avestern earnings maintain steady gains. Equipment, however, is inadequate for prompt forwarding and shippers’ complaints are frequent. Bank clearings, $178,267,062, exceed those of the corresponding week in 1904 by 18.3 per cent. The general demand for money has extended and rates for prime mercantile paper range from 414 to 5 per cent. Failures reported in the Chicago district number 19, against 28 last w r eek and 23 a year ago.—Dun's Review of Trade.

New York.

Wholesale distributive trade, already of full volume, has received new

impetus this w T eek from buyers’ excursions at the Southwest, State fairs in the Northwest and the general assurance that the corn crop is beyond danger of frost damage throughout a very Avide area, Cooler Aveather and the ending of the vacation season, coupled with the reopening of schools, has made for more activity in retail lines. Accompanied by marked activity in millinery, dry goods (particularly the more expensive makes of cotton goods), clothing, shoes, hardware and lumber at leading Avestern markets are reports of good collections. Business failtv :s in the United States for the week ending Sept. 7 number 137, against 161 last Aveek, 144 in the like week of *1904, 165 in 1903, 197 in 1902 and 182 in 1901. In Canada failures for the week number 25, as against 25 last week and 14 in this Aveek a year ago.;—Bradstreet’s Commercial Report.