Rensselaer Semi-Weekly Republican, Volume 40, Number 8, Rensselaer, Jasper County, 4 October 1907 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

CHICAGO. Activity in the leading producing industries discloses 110. diminution, although the aggregate of new demand* has fallen below tbe_/exceptional bookings at thistime last year. Delay in agre.unent upon the new rail specification holds np many contracts for steel mills and lessens the demand for pig iron, but indications are good for an early lifting of kuis temporary embargo. •.. Other heavy manufacturing lines maintain steady drawing upon capacity and absorb large quantities of supplies, and current deliveries of finished products r-re remarkably large in machinery, hardware, ears, furniture and footwear. The course of prices affords some relief to consumers of raw mxterial and receipts of the latter continue ample, while values of leading outputs of the factories remain unchanged. Financial conditions are paramount in considering new enterprises and, while no decline in the cost of borrowing may be looked for soon, thejre is a better feeling in the money market, -which begins to have a salutary effect upon business. A most encouraging feature is the sustained enormous marketings of grain and the rapid conversion of these and other farm products into cash, all making sub* stantial addition to the circulation of money, which must- eventually stimulate commerce and widen confidence. Buying of necessaries reflects satisfactory headway, trade in the leading retali departments being seasonably strong and much augmented by liberal purchases of many visitors from the interior. Forwardings of stable merchandise exceed those at this time last year, and country merchants operate freely. Western advices indicate prosperous conditions throughout tte agricultural sections, and country stocks of Merchandise under gratifying reductions. Collections at most points are reasonably prompt, while the record of defaults again makes a favorable showing. Freight movements by both rail and Jake are much in excess of those a year ago, and the calls for cars to rush breadstuffs, coal and lumber begin to overtax equipment. The total movement of grain at this port aggregated 16,977,681 bushels, against 9,791,691 bushels last week and 9,627,011 bushels a year ago. Bank clearings, $246.904,950, exceed those of corresponding week in 1906 by 18.5 per cent. Failures reported in the Chicago district numbered 16, agaaosfr23 last week, and 19 a year ago.—Dun’s Review of Trade.

NEW YORK. -.Retail trade feels the stimulus of long awaited cool weather, as does also filling in order business from jobbers.On the other hand, regular house trade has decreased in volume, now that the first rush of fall trade is over, and shipping of goods on orders is engrossing jobbers’ attention to a large degree. Advices as to the real proportions of autumn trade vary with the sections reporting. Collections are still a matter of complaint at many markets east, west and south, the latter section noting that the recent freer movement of cotton has only made for partial improvement. Conditions in the shoe and leather industry are irregular. The restriction of output of sole leather is reflected in firm prices for desirable grades. Some dealers claim concessions 4n side leather in the Boston market. Shoe shipments from eastern Massachusetts are 4.4 per cent less than a year ago. Business failures for the week ending Sept. 26 number 160, as against 179- last week, 165 in the like week of 1906, 185 in 1905, 179 in 1904 and 153 in 1903. Canadian failures for the week number 36, as against 40 last week and 27 in this week a year ago.—Bradstreet’s Commercial Report.