Rensselaer Semi-Weekly Republican, Volume 40, Number 32, Rensselaer, Jasper County, 27 December 1907 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

CHICAGO. An improving tone appears in business circles, although actdal recovery in activity is not looked for before a return to normal banking conditions is effected. Reasonable weather brought a heavier movement in the leading retail lines, and the absorption of necessaries and Christmas goods advanced to gratifying proportions, dealings generally reflecting a better disposition among buyers. Wholesale branches mainly enter upon the usual quiet attending the close of the year, but there was a fair aggregate Of - demands for immediate delivery and satisfactory mail orders were received ter spring merchandise. Mercantile collections show more promptness at western points, although extensions are not infrequently asked, particularly where the. shortage of currency yet remains severe. Defaults in this district again include none -of special significance, ami the number this month thus far is less than a year ago. Requests for accommodation in January increases and current settlements at the banks involve some renewals, but the financial exhibit required of borrowers discloses little disturbing weakness among manufacturers and distributers, and this creates, a .more confident feeling as a basis for future financing. Money remains quoted at 7 per cent minimum on local loans required for forwarding of foodstuffs, but higher rates-.are-inade-foi' commercial-paper bought by outside banks. Augmentation of gold reserves and note circulation strengthens JLhe situation and permits an expanding shipment of currency "to" ffie 'fHtseriorr There is no decline in outputs of rails, wire and footwear, and there is better inquiry for pig iron, although some consumers hold for lqwer cost. Failures reported in the Chicago district number 23, against IS 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. Holiday buying has had the- center of the stage, and retail business has felt very perceptibly the influence of the spirit of the season. While much more marked than some time ago, however, the volume of retai) buying as a whole is not up to expectations, and is below a year ago at this date. Sentiment as to the outlook for trade next year is very mixed. Conditions in financial circles are still slowly but quite surely approaching normal.. From the country at large there is reported a continued easing up of the situation as regards cash payments, and several cities are practically on a cash basis. A very favorable feature in the present period of repression is the tendency toward enlargement of our export trade. This is most notable in the grain trade. Business failures for the week ending D6c, 19 number 298, against 284 last week, 227 in the like week of 1906, 235 in 1905, 249 in 1904 and 243 in 1903. Canadian failures for the week number 40, as against 50 last week and 26 in this week a year ago.—Bradstreet's Commercial Report.