The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1890-01-06
THE COMMERCIAL SKY is SMILING,
But There Are a Few Clouds which
may Mean Storm.
Money Markets Strained In the East:
Cioso In tho West.
unseasonably Warm Weather Has a
Depressing Influence.

New YORK, January 4.-The weekly Re-
view of Trade, issued by r. C. Dun & Co. of
the Mercantile Agency, says: "The new
year opens with a most confident feeling
prevailing in all parts of the country, and
vet with some features which suggest espec-
al caution. The volume of business in pro-
gress, though little more curtailed than is
usual near the end of the year in wholesale
and jobbing lines, was nearly, If not quite,
the largest ever known in holiday goods,
and, on the whole, close to the maximum.
But in several important trades profits have
not been commensurate with the magnitude
of transactions, and slow collections have
caused many failures, with apprehension of
more in the near furure.
The money markets are strained at the
East, close at Chicago, Cleveland and De-
trolt and closer than before at Kansas City
and Omaha, but at other Western points
fairly supplied. But the advance in the
Bank OF England rate, and the signs of Dos
sble disturbance resulting from excessive
speculation abroad, render the monetary out
look here less clear The heavy disburse-
snents for interest and dividends, estimated
az $66, ,294, TIC at New York alone, nearly six
per cent less than last year, will doubtless
give instant relief. Reports from other CEN
tres of trade all show that unseasonably
warm weather is having depressing infiu-
ence, but in other respects are generally en-
c0uraging. Boston finds the cotton goods
trade quiet but at firm prices, and the boot
and shoe trade not very active. thOrgh. ex-
pecting large movement. The furniture
trade is satisfactory, and wool sales 2,760, 100
pounds for the week.
Chicago f0ots up transactions in 1889
amounting to 1,17,000,000, against, 1,125,-
100000 in 1888. gain of 81 per cent; in cured
meats the gain has been 100 per cent, and in
dressed beef, lard and cheese large; but flour
receipts are smaller. with an increase in
grain. The dry goods trade was fully up to
the previous years, with easy collections.
st. Louis notes the largest holiday trade on
record, but dealings in winter goods restrict
ed by warm weather, and receipts of grain
and produce limited only by the transport
ing power of the railroads.
No heavy failures have occurred at Mil
waukee, but there is uneasineSS as to the
near future, and the weather causes slow
collections and similar fears at Detroit.
At Kansas City and Omaha business is
fair for the season. The chief industries are,
on the whole, unusually prosperous.
A fuller statement of cotton mills
dividends for 1889 indicates rnat they were
larger than in any previous year of specie
prices. The leather trade has become
hopeful, and consumption of boots
and shoes IS prodigious, but. over
profits The iron trade pauses at this season,
but there is general confidence that the de-
mand will prove equal, even to the unprece-
dented supply.
The woollen business is still the cloud in
the sky; stocks carried over at the chief
cities prove to be %, ,000 0C0 pounds more than
year ago, and the sales at Boston for 1889
were 133,0OO,000 pounds. against 166,0O0,O00
for the previous year, decrease of nearly 20
per cent. Produce markets have been dull.