Rensselaer Semi-Weekly Republican, Volume 39, Number 89, Rensselaer, Jasper County, 12 July 1907 — COMMEPCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMEPCIAL AND FINANCIAL

General conditions indicate that commerce is sustained at an unprecedented volume and without impairment of confidence in the outlook. Payments through the banks are now risen to a daily average of almost $50,000,000, surpassing all previous records, but there is no symptom of unusual financial pressure, credits being satisfactory and statistics as to defaults during the last six months shotting decreased numbers and liabilities. Mid year inventories and repairs to machinery caused but slight cessation in operations. Production is maintained close to the limit of capacity in the leading manufactures, while the weather far vers distribution and has appreciably stimulated widespread demand for seasonable merchandise, stocks of summer goods undergoing rapid reduction'. Raw material markets remain sharply drawn upon for fresh supplies, and prices stand at a higher level than a year ago, although hides, leather and brick exhibit recent declines in cost. Building work is unusually extended and calls for heavy absorption of lumber, quarry and planing mill outputs. Bank clearings, $248,652,065, exceed those of corresponding week in 1906 by 21.9 per cent. Failures reported in the Chicago district for the six months ending June 30 number 534, against 688 for similar period in 1906, and those with liabilities over $5,000 number 151, against 198. Dun’s Review of Trade.

NEW YORK. Continued favorable weather conditions have made for further crop development, expansion in retail trade in light summer goods, and notable stimulation of hitherto lagging' reorder business. One of the most favorable developments of the week has been the improvement noted in collections at many markets. The future outlook as to prices of goods is now having the attention of manufacturers and wholesalers. Business failures in the United States for the week ending July 4 number 135, against 150 last week, 134 in the like week of 1906, 127 in 1905, 172 in 1904 and 154 in 1903—Bradstreet’s Commercial Report.