Rensselaer Semi-Weekly Republican, Volume 38, Number 34, Rensselaer, Jasper County, 12 January 1906 — COMMERCIAL AN FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AN FINANCIAL

| Chicago.

- f -, ; i . ‘' jJ r ' ' ~ -V -'■V -r." Business generally' winds up a year of healthy expansion under

conditions distinctly favorable to a further period; of unprecedented activity. The time needed for customary repairs will Be made brief, many large plants under pressure of orders , being forced to minimize the loss In production. | New demands in manufacturing branches this week made a better aggregate than expected, and current Inquiries indicate heavy bookings in Iron, steel, railroad equipment and power are to be mad&- after New Year’s. Distributive trade maintained a satisfactory volume. Wholesale dealings in general merchandise are conservatively placed at 15 per cent over last year’s high aggregate. The iron industries lead in the progress made, the gain averaging at least 25 per cent, Including capacity operated for the first time. Notwithstanding the enormous tonnage completed, structural mills remain much behind upon old work and make steady additions to heavy commitments running well into next spring.' ' Wire producers are booked up six months ahead, electric works have a remarkably fine outlook, and there is increasing request for implements, heavy hardware and machinery. Carmaking and shipbuilding capacity is engaged for almost all of 1906. Prospects are also most encouraging In the Woodworking trades. Buying of supplies for the leading manufactures and construction remains strong, although costs have risen welt above the average of a year ago. Bank clearings have established a new high -level, ami affirm the year’s material advance: Uoc-al financial affairs cause no apprehension. With the January disbursements there may be returning ease in the local money market, but the present stiff rate of 6 per cent is unlikely to end soon unless the need for funds has subsided. Sales of local securities fell much under the volume of 1904, yet prices scored a higher average and the market discloses no speculative operations. Liquidation of the three banks recently entered upon has proceeded very promptly. in Chicago district this week number 19, against 18 last week and 19 a year ago. Total defaults for the year number 1,278, against 1,348 for 1904. Those rated $5,000 capital and upward aggregated 146, a favorable showing as compared with the 393 last year. Bank clearings, $201,173,042, exceed those of the corresponding week last year by 29.2 per cent.—Dun’s Review of Trade.

fiev York.

Following an unpreeedently active holiday business In all parts of

the country, distributive trade seems quiet by contrast, more particularly as unseasonably mild weather affects retail operations in seasonable heavy wearing apparel. What is bad for retail business is, however, good for outdoor industry, particularly building. Additional reports as to trade in the year now closing point to 1905 having been a record-breaker alike in agricultural, speculative, financial and industrial circles. As to the future, the outlook seems full of promise, and the advent of 1900 is awaited with confidence unsurpassed in recent years. Business failures in the United States for the week ending Dec. 28 number 212, against 235 last week, 218 In the like week of 1904, 209 in 1903, 202 in 1902 and 208 in 1901. In Canada failures for the week number 24, as against 38 last week and 20 in this week a year ago.—Bradstreet’s Commercial Report.