Rensselaer Semi-Weekly Republican, Volume 39, Number 104, Rensselaer, Jasper County, 6 September 1907 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

CHICAGO. Another notable increase in the volume of payments through the banks testifies tosustained activity in commerce, and the defaults reported are Remarkably low. There is, however, evidence of heavy speculative operations in securities and grain, and this interferes with more general confidence in the trade outlook. Other adverse developments of recent origin im“gress more conservatism in large enterprises, and the position of money offersno encouragement. Notwithstanding thedrawbacks, demands are found equaling: expectations in the leading industries, and there is no perceptible recession in production and distribution. Heavy shipments of currency to movecrops draw sharply upon deposits, and the discount rate is firm at the highesfT quotation this year, but reserves are well maintained and most mercantile interestsare provided with requirements at thistime. Country banks have absorbed considerable commercial paper, and the indications are good that western resourceswill be found ample to satisfy legitimatefinancial needs during the next few months of pressure. Crop reports reflect seasonable headway in harvesting, and the condition oF corn to Illinois and lowa steadily Improves. Visiting buyers from the West and South arrive in the greatest numbers this.’ season and are active in selecting fall and winter requirements. Demands comparefavorably with this time last year in sales* of dry goods, millinery, clothing, footwear and food products. Bank clearings, $221,123,655, exceed those of corresponding week by 13.6 per cent. Failures reported in the Chicago dis- ’ trfet numbered 14, against 22 last week and 19 a year ago.—Dun’s Review.

„ NEW YORK. Buyers’ excursions have been a feature of the week, and the leading primary markets of the country have been filled with country merchants. As a result house trade has been stimulated and orders for dry goods, clothing and shoes show considerable improvement. Fall business, except at a few centers, is said to equal a year ago at this date, the volume being made up of numerous orders rather than by any new interest or of heavy business. In fact, many merchants display a disposition to go slow, fearing that orders may fall off, not because of a decline in consumption, but more particularly of tightness of money. Business failures for the week ending Aug. 22 number 153, against 156 last week, 155 in the like week of 1906, 176 in 1905, 185 in 1904 and 142 in 1903. Canadian failures for the week number 19, as against 30 last week and 10 in this, week a year ago.—Bradstreet’s Report.