Rensselaer Semi-Weekly Republican, Volume 40, Number 30, Rensselaer, Jasper County, 20 December 1907 — COMMERCIAL FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL FINANCIAL

CHICAGO. Although the volume of business falls short of the normal, there are indications that point to some recovery. Payments through the banks reflect a smaller comparative decline, commercial defaulter rffni' under those last year, and there arc-not only umreasing -deposits but more rapid ■Cancellation of emergency checks and renewal of discount operations-in mercantile paper. _ Shipments of currency to the interior have expanded for the marketing of corn; and the, preparations assure ample funds to meet heavy January disbursements at the banks. Settlements,on December maturities thus far have been made with less trouble than expected, and the small aggregate of extensions sought was thecause of lessened fear in financial circles. . Quiet conditions'prevail in the leading industries, but seasonable weather brought improved demand in distributive branches, and the absorption of winter apparel, food products and Christmas goods makes a rapid reduction in stocks. There is also more activity in the advance buying in wholesale lines, with a better supply of mail orders for dry goods, woolens, cloaks and suits and bonis and shoes. —, With the approaching holidays there is greater tendency to curtail machinery employed in factory work, and shut-downs may be more extended than usual. Receipts of raw materials reflect further shrinkage, but these are ample for requirements, and prices have an easier tendency in pig iron, lumber, leather and wool, although hides steadied on buying for eastern consumers. Failures reported in the Chicago district number 23, against 18 last week and 25 a year ago. Those with liabilities over $5,000 number 5, against 7 last week and 3 in 1906. —Dun’s Review of Trade. NEW YORK. Cross currents in trade, finance and industry prevent generalization, but financial conditions generally have shown further easing, while the approach of the holiday period and more seasonable weather helped enliven distribution, which in some sections also feels the stimulus of price concessions. On the other hand, wholesale and jobbing trade has rather quieted' and manufacturing industry has slackened! slightly. Collections generally are very slow, and failures tend to increase innumber. There is less talk of cancellations, though there are evidences of these in many lines. To offset the possibility of ktrge stocks accumulating, buyers are keeping their activities restricted, and thistendency is also re-enforced by a fair volume of resales by jobbers who find surplus supplies at hand. Business failures in the United States for the week ending Dec. 12 number 284, against 272 last week, 220 in the like week of 1906, 226 in 1905, 439 in 1904 aud 239 in 1903. Canadian failures for the week number 50, as against 26 last week and 31 this week a year ago.*— Bradstreet’s Commercial Report.