Rensselaer Semi-Weekly Republican, Volume 40, Number 10, Rensselaer, Jasper County, 11 October 1907 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

CHICAGO. The highly sustanied volume of commerce centering here is attested by aggregate payments through the banks during the past month and this week, which exhibit striking gains over a year ago. LeSs pressure for money and few business failures make easier conditions for capital investment, and with continued profitable returns for farm and range products the indications appear brighter for a lower discount rate to mercantile borrowers. Trade responds to the better effect of favorable developments. Preparations reflect renewed confidence among the leading producers and little capacity remains to be booked up for this quarter. New demands equal expectations in iron, steel and railway equipment, and the orders for future deliveries are satisfactory in forge work, machinery, heavy hardware, wire products, furniture and footwear. Country merchants come from nearby points in increasing numbers, and their selections of fall and winter fares stimulate expanding activity in wholesalebranches. Shipping rooms work overtimeand the forwardings to the interior compare favorably in quantities with this-'' time last year. Mercantile collections throughout the West occasion little. trouble, and, notwithstanding tight money, the defaults carry no special significance. Bank clearings, $263,309,209, exceed ■ those of the corresponding week in 1906 by 17.5 per cent. Choice commercial paper is quoted at Q l /, per cent, and currency withdrawals to move crops make a smaller total than last year. Failures reported in the Chicago, district numbered 25, against 16 last week and 25 a year ago. Failures with liabilities over $5.000 numbered 4, against 7 last year.— Dun’s Review of Trade. NEW YORK. Collections, while still dragging, in consonance with the tightness in money, appear to have improved at a number of centers. Some orders for early spring arebeing placed, but the volume of business done as yet is rather light. Many industrial lines are less active on new business, and working forces in such lines as iron, steel, car manufacturing, electrical goods, shoe manufacturing and copper mining are being reduced. Lumber is less activeand new building is lighter, due in part: to the approach of the closed season, but* more particularly to the stringency in Business failures in the United Statesfor the week ending Oct. 3 number 117, ugain.yt 166-last week. 136 in the likeweek of 1906, 189 in 1905, 195 in 1904 and 197 in 1903. Canadian failures number 32, as against 36 last week and 22 in this week a year ago.—Bradstreet’e. Commercial Report.