Rensselaer Semi-Weekly Republican, Volume 40, Number 26, Rensselaer, Jasper County, 6 December 1907 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

CHICAGO. Further progress appears in the effort to place credit upon a satisfactory basis, and the banking conditions, reflect distinct advance toward resumption of cash payments. Encouraging replies’from the interior indicate a general desire to act early in restoring the normal status, and with this favorable tendency spreading the monetary outlook assumes an encouraging aspect. Trade conditions reflect no notable development, but the tone is better, and with the necessary adaptation to events it Is expected that improving demand will come in due course. Liquidation in securities and commodities is not yet at the point of exhaustion, hnf fa nnt nny Unpu. n ijint-ndhiiikw,-factor, and there are increasing currency shipments to move crops and provisions and more renewal of loans upon satisfactory evidence of solvency. Defaults thus far have not reached distressing proportions, nor has the stoppage of machinery and reduction of workmen been as great relatively as was feared. Although the business indications may be regarded as improving, there is yet a very conservative feeling New enterprises and consequent increase of obligations are given little consideration and contracts made at this time are confined to absolute requirement^ Colder weather would stimulate a more active movement of seasonable goods in looth retail and wholesale branches, but the Thanksgiving trade here and at country stores has been equal to expectations. Manufacturing discloses no particular change aside from slower demand for furnace and finished products. Rail mills have bookings assuring steady work for seven months ahead, -and the wire mills remain busy. Leather remains in fair request for theshoe factories, but hides are absorbed slowly, notwithstanding lower prices, and dealings are more limited in lumber and building material. Failures reported in the Chicago district number 23, against 36 last week and 22 a year ago. Those with liabilities overss,ooo number 13, against 14 last week, and 6 in 1006.—Dun’s Review of xrade.

NEW YORK. yThe improvement in the tone of financial affaire has become more widespread, so notable, indeed, as to give a much more cheerful appearance to the entire situation. For one thing, the security markets have displayed more evidences of healthy strength than for a long time past, the money market -has - shown signs of loosening up, the currency premium has dropped quite materially—close to the vanishing point, in fact—and the expectations are widely entertained' or expressed that the country will be back upon a cash payment basis in a few weeks. But trade-is still quiet the country over.’amnew buying, owing partly to holiday observances and also to mild weather, which still is a check on retail trade, is small, while industrial operations are still being restricted. Collections are still very poor, with numerous extensions being asked and in many cases granted. While the banking situation is improving, loans are not being made with any degree of freedom and rates are still prohibitory. Business failures in the United States for the week eDding Nov. 28 number 250,. against 2G5 last week, 174 in the likeweek of 1906, 188 in 1905, 184 in 1904 and 239 in 1903. Canadian failures for the week number 46, as against 35 last week and 25 in this week a year ago.— Rradstreet’s Commercial Report.