Rensselaer Semi-Weekly Republican, Volume 40, Number 44, Rensselaer, Jasper County, 7 February 1908 — COMMRECIAL [ARTICLE+ILLUSTRATION]

COMMRECIAL

■ f CHICAGO. While the monlb just closed was conspicuous for drastic measures in restoring credit and reducing merchandise to safe proportions, the process of readjustment has been attended with less trouble than feared and conditions generally now make a better basis for future operations in commerce. The wefek has seen new demands in manufacturing come forward slowly, but the exhibit is an improving one, and there is broader activity In the distributive lines. Low temperature augmented the buying in leading retail lines, particularly of heavyweight apparel and household furnishings. Interior buyers appeared in greater numbers. Advices indicate seasonable headway in disposing of country stocks, these being now brought down comfortably, and road salesmen report less difficulty in booking orders for forward delivery. Improved financial conditions are reflected in a wider circulation of currency throughout the agricultural sections, and this has made mercantile collections easier, although more than a normal number of trading defaults is again in evidence and extensions are frequently asked. The banking, position shows steady recovery, there being increase in both deposits and discount operations, with money cheaper, although not yet sufficiently inviting to attract new enterprises. Production in the leading industries is not expected to disclose notable changes;* but there is moderate increase over a month ago in iron, steel, wood and leather working, and idle forces are smaller than in last week. Important considerations as to costs of supplies and labor and the yet limited flow of fresh orders prolong the feeling of caution which prevails in many quarters. Some factory outputs still lag and only slightly renewed activity may. appear in these branches before the spring months. Receipts of the raw materials continue restricted in lumber, wool and in minor metals, but have gained over last year in hides and live stock. Failures reported in the. Chicago district number 37, against 39 last week and 26 a year ago. Those with liabilities over $5,000 number 10, against 16 last week and 13 in 190.7. —Dun’s Review of Trade. NEW YORK. Trade and financial developments have been of a rather irregular character, but, on the whole, in the direction of future improvement at the larger centers. Conservativism in ordering is noted as a country-wide condition, but recent price reductions have unqhestionably stimulated interest. The suspension of four banks at the metropolis was, after aIL only negatively unfavorable, these being the aftermath of last autumn’s financial storm. Underlying financial conditions are certainly no less favorable, money shows increasing ease not only in this country, but all over the world, and improvement in collections, which are still slow as a whole, is ju many cases the result of easing money making it possible to/eruir on past-due accounts. The week 5 * failure total is the smallest for a month past. Business failures in the United States for the week ending Jan. 30 number 359, against 406 last week, 211 in the like week of 1907, 228 in 1906, 239 in 1905 and 216 in 1904. There were forty-four failures iiK Canada this week, against fifty-one lost week and twenty-six in this week a yeaj^ago. —Bradstreet’s Report,