Rensselaer Semi-Weekly Republican, Volume 39, Number 100, Rensselaer, Jasper County, 23 August 1907 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

Chicago. Despite the telegraphers' strike and tihe acute effect of this and other adverse factors, trade conditions reflect no recession in activity and volume of demands in leading lines. There is, however, as expected, more caution in approaching new undertakings of magnitude. It is excellent testimony to the healthy basis of commerce in this section that ■tirF' returns make a gratifying exhibit in payments through the banks, in freight movements, mercantile defaults and factory production, all these comparing favorably with high records a year ago. The banka successfully maintain ample reserves, but there is more urgent discount offering and crop moving needs involve heavy shipments of currency to the interior. Pressure upon available funds causes : no discrimination against responsible customers seeking accommodation, yet close scanning of credits is in order, particularly with reference to commitments for the future. Notwithstanding a heavier tone pervades some quarters, current •transactions sustain good feeling in the leading industries and wholesale branches. Distribution of finished materials and raw supplies is maintained at the highest . aggregate, and jobbers’ shipments show substantial advance. Earnings of Chicago railroads surpass all former gaihs, and lake traffic is enormously extended in ore, coal and lumber. Crude materials have not changed in costs, aside from another decline in copper. Crop reports again- agree as to fine progress in corn and spring wheat growth, and the improving outlook spreads throughout agricultural sections, where heavy outlays are made for farm additions and tools. This encouraging feature imparts more confidence to the buying of staple merchandise, Country buyers in unusually large numbers now make their selections here, and the bookings for early delivery run into large totals in the textiles, clothing, boots and shoes, furniture and food products. Total movement of grain at this port, 6,617,163 bushels, compares with 5,951,568 bushels last week and 8,468,508 bushels a year ago. Bank clearings, $224,174,169, exceed those of the corresponding week last year by 11.8 per cent. Failures reported in the Chicago district numbered 22, against . 26 last week and 28 a year ago.—Dun’s Review of Trade. i ‘ s NEW YORK. Growing crops show further good progress towardXiarvest, and fall tpade tends to expand at leading western and eastern jobbing centers. Cross currents are visiblt in different industries. Thus while finished cotton fabrics are in demand and some makes, notably bleached goods, have been further advanced, there are re-iTOrt-a smaller demand, and lower prices for cotton yarns. In woolen gddds, while high-grade worsted and fine woolen fabrics have sold well, other grades are slower of sale, and there is talk of accumulation. In the leather trade there is more life than of late, and good quality leather and hides are on better sale, as are also high-class shoes. Low grades are slower, of sale, and eastern shipments, so far, are 4 per cent behind 1906. In iron and steel the lack of new buying is still notable and prices tend to ease, •as the mills and furnaces find deliveries easier to make. Business failures for the week ending Aug. 15 number 146, against last week, 143 in the like week of 1906, 147 in 1905, 203 in 1904 sad 166 in 1903. In Canada failures for the week number ■3O, ns agp Inst 1R last week snd 22 in this week a year ago.—Bradstreet's Commercial Report.