Rensselaer Semi-Weekly Republican, Volume 39, Number 77, Rensselaer, Jasper County, 31 May 1907 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

CHICAGO. Aside from the effect of unfavorable weather on leading retail lines, the course of business is steady, production in the industrial branches being fully sustained and new demands carrying the period of assured forward work farther into 1908. No diminution appears in the pressure for supplies of raw material. Current inquiries indicate that heavy orders for rails and equipment are impending, and there is fair activity in furnace product, structural shapes and wire. Local building operations involve unusual consumption of materials, and the forces employed increase, at exceptionally high wages. Manufacturing conditions remain favorable, wood and leather working plants steadily increasing outputs, and there is a large distribution of electric and brass goods. Receipts of ore fall short of expectations, owing to late opening of navigation, but fresh arrivals of lumber and hides exceed those of a year ago. Dealings in the wholesale branches make a fair aggregate. Mercantile collections continue to be very encouraging. Bank statements this week exhibit deposits at the highest level. Commercial borrowing is not particularly urgent at this time, but money works easier, although the discount rate remains at 5-1/2 per cent. The markets for provisions and live stock reflect steady absorption, and better receipts of hogs increase packing, but the breadstuffs are in lessened demand, the rapid rise in prices having discouraged cash operations. The total movement of grain at this port aggregated only 7,403,880 bushels, against 9,368,130 bushels last week and 5,746,688 bushels a year ago. Compared with those of last year, there are increases in receipts of 14.3 per cent and in shipments 42.6 -per cent. Receipts of live stock were 266,893 head, against 253,345 head last week and 280,814 head last year. Failures reported in the Chicago district number 14, against 26 last week and 24 a year ago.—Dun’s Review of Trade. NEW YORK. Crop and trade reports are irregular, but there is a slight improvement visible as a whole, owing to higher temperatures. Relatively the best reports as toretail and wholesale trade come from the Pacific Northwest. In the central West. Southwest, North [illegible] South the volume [illegible] hind a year ago [illegible] Foundry pig [illegible] Business for [illegible] the price basis being $22 per ton, valley furnaces. Some southern iron has alsobeen disposed of for first quarter shipment, the quotation being $18.50 Birmingham. Demand for basic pig for delivery in the last half of 1907 is quite heavy. Business failures for the week ending May 23 number 165, against 184 last week, 170 in the like week of 1906, 179 in 1905, 184 in 1904 and 181 in 1903. Canadian failures for the week number 19, as against 22 last week and 13 in this week a year ago.—Bradstreet’s Commercial Report.

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