Rensselaer Semi-Weekly Republican, Volume 40, Number 42, Rensselaer, Jasper County, 31 January 1908 — COMMERCIAL FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL FINANCIAL

CHICAGO. Trade conditions in the Chicago district are summarized in the weekly review issued by R. G. Dun & Co. as follows : In view of the effort to strengthen credits and the severe test, from which bus iness generally is emerging, it* is not surprising that the commercial mortality again exhibits a comparatively large ratio. Ii is an indication, however, that the weak concerns no longer remain to distuil) confidence. Other factors are mainly most encouraging and add to further revival in activity. Dealings at the banks now make the closest approach to those at this time lfist year, heavy settlements proceed smoothly, and the legitimate nqeds of borrowers are more Readily extended. The discount rate is much easier, but the offerings of paper reflect no undue pressure to obtain funds. Some further gftin appears in the machinery and labor employed in manufacturing, although f the effort to advance production is made slowly, but the indications constantly improve in iron, wood and leather branches. Prices bear a firmer tone in the principal raw materials, particularly hides, lumber and minor metals, and more inquiry from consumers is thought to mean an early addition to furnaces operated. Developments in construction and building are not yet notably interesting, but" the indications become brighter, and with receipts unusually light and yard stocks small, the market for lumber becomes more encouraging, especially for factory needs. Carshops run low on forward orders, but shipbuilding engages more help, and there is steady running in footwear, clothing, foundry and electric lines. Weather conditions have favored sustained absorption of winter merchandise, and seasonable dealings appear in the leading retail and jobbing branches, with larger numbers of visiting buyers operating iff the principal staples. Failures reported in the Chicago district number 39, against 47 last week and 24 a year ago. Those with liabilities over $3,000 number 16, against 19 last week and 8 in 1007.

NEW YORK. Trade and industry are still quiet, commodity pries s have quite, generally moveddownward, collections are backward, an increased quantity of railroad equipment is reported idle, less satisfactory reports ns to demand come from the iron and steel and coal industries and an increased disposition is noted to. kiiscuss wage reductions as an offset to restricting production. Wholesale trade as a whole is slow to open, though heavy cuts in cotton g00d5.... Tiy western jobbers, equaled orexoeoded by eastern houses, have aroused interest and attracted buying in these kindred lines. Travelers on the- road report buy* ing to be of a filligg-in character, suffi- • cient merely to replace broken stocks, and a -slow arid late opening of spring trade is looked for. Business failures for the week ending Jan. 23 number 408, against 431 last week, 252 in the like week of 1907, 276 in 1906, 228 in 1905 and 242 in 1904. Canadian failures for the week number 51, as against 44 last week and 18 ijt this week a year ago.—Bradstrect’s Report.