Rensselaer Semi-Weekly Republican, Volume 39, Number 75, Rensselaer, Jasper County, 24 May 1907 — COMMERCIAL FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL FINANCIAL

CHICAGO. ~ Measured by continued heavy payment* through the banks the volume of commerce maintains expansion. Money conditions have tended toward ease, but while borrowing has moderated Slightly, trading defaults exhibit an increase,' although there is none of special significance. The important developments this •week are found mainly in the course of prices, most raw materials having advanced to a higher level, especially in the metal division, which is led at this timeby basic iron and steel. Distributive Operations were stimulated by the improved weather. Leading retail trade made a satisfactory advance in seasonable lines, and the mail orders inwholesale branches compare favorably' tyith those of a year ago for dry goods, clothing, boots and shoes and hardware. Country merchants report a satisfactory disposal of spring goods, and with thehigher temperature now prevailing a strong demand has set in for lightweight apparel. The markets for breadstuffs reflect extending purchases for Europe, and a sensational rise in wheat values and the principal coarse grains adds substantially to the wealth of growers, crop mar--ketings being remarkably heavy. Bank clearings, $267,754,840, exceed those of the corresponding week in 1906 by 26.4 per cent. Failures reported In' the Chicago district number 26, against 19 last week and 23 a year ago.—Dun’s Review of Trade. ( NEW YORK. Unseasonably cold or rainy weather is a subject of complaint throughout a wide area, checking retail trade and killing reorder business with jobbers, retarding collections and in connection with claims of damage to crops forcing values of all agricultural produce to high levels. The Southwest, central West, South and leading eastern centers all send reports of backward retail trade, which find reflection in advices of quieter than expected reorders for light summer wear goods, cloaks, suits and millinery from jobbers and wholesalers, and of smaller than expected business for fall in men’s wear clothing from manufacturers. Taken as a whole, crop reports are a trifle more encouraging. Business failures for the week ending May 16 number 184, against 154 last week and 161 in the like week of 1906. Canada failures for the week number 22, against 18 last week and 15 a year ago. Wheat, including flour, exports from the United States and Canada for the week ending May 16 aggregated 2,800,177 bushels, against 2,994,419 last week and 2,716,783 this week last year; for the last forty-six weeks, 149,595,083 bushels, against 118,464,994 in 1905-06. Corn exports for the week are 1,906,908 bushels, against 1,744,800 last week and 1,089,706 a year ago; for the fiscal year to date, 65,079,645 bushels, against 106,500,789 in 1905-06. —Bradstreet’s Commercial Report.