Rensselaer Semi-Weekly Republican, Volume 40, Number 16, Rensselaer, Jasper County, 1 November 1907 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

CHICAGO. a steady course, and, aside from the sentimental effect of financial troubles in the East, there is sustained confidence felt here as to the outlook. Transportation of finished materials, general merchandise and other eommod.tiea exceed that at this time" last year, and", while the aggregate of new demands for manufactures has narrowed, there is seasonable activity in most lines of distribution, Payments through the banka again make a largely increased showing, legitimate discount requirements are promptly extended to responsible borrowers, and there is less general pressure for money for commercial purposes, but an. increased number of trading defaults appears this week, indicating further elirnination of weak concerns. Most banking accommodation for industrial purposes is amply provided for until the turh of the year, and, while the* drain of currency to move crops has become heavier, there is no apparent rea—• son to question the soundness of business. Were there any existing difficulty fa disposing of the products of the soil or any evidence of (shrinkage in the purchasing "power some apprehension might .qpgra, tyqt crop marketings continue in excess of the high aggregate a year ago. Raw materials exhibit no decline in the volume of absorption. Consumers hold out for concessions and prices reflect an easier tone, although these are .quoted unchanged in iron, steel, t hides and leather. Bank clearings. $267,471,155, exceed Those’ of~corresponding week in 1906 by 20.9 per cent. Failures reported in Ohi'cago district number 28, against 18 last week ahid 21 a year ago.—Dun’s Review. NEW YORK. Trade and industry have tended toward quiet in sympathy with reports of financial unsettlement at New York and a few other cities, the continuance of mild weather affecting as It does retail distribution, the natural seasonable slowing; down of jobbing trade and the influenceupon retail trade and collections of the continuance of the holding movement of crops. On the other hand, the financial sitiiatlonat New York, generally speak- J Ing, seems to be well in, hand; the New York banks, under courageous and experienced leadership, are meeting conditions as they arise with discretion; recent de- i dines fa prices of cereals and cotton have encouraged foreign demand for the J country’s products, the holding of cotton, J a great exchange-making medium, is f showing some signs of relaxing, and low- „|| ered prices of domestic commodities lead M to the hope that the demand, of a pros- j perous couhtry, affectedly the unduly qi high level of some commodities, will re- |1 vive. ’ ■ Business failures for the week ending | Oct. 24 number 217, against 194 last -V in 1905, Lss in 1904, and 217 in 1903. *1 Canadian failures for the week number ■ 89, as against 36 last week and 29 in this week a year ago.—Bradstreet’s Report. '