The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1894-08-11


sued-Exports of Wheat Fairly Heavy
Only 1917 Business Failures During the
Past Week.
| New York, August l0.-Bradstreets tomor-
row will say: Evidence continues to ac-
cumulate that the earlier portion of July
witnessed the lowest point in the ebb of
| the commercial tide in a reaction after a
moderate revival in the spring. AS reported
last week. July bank clearings this year
furnished list of twenty-nine cities with
larger aggregates than last year, and June
reports furnished eighteen cities with totals
larger than June of year ago. The clear
1ngs total for six days ending Thursday are
$774, 10000 OF 2-10 per cent larger than the
week previous, 6-l0 per cent smaller than
the second week of August last year. when
the bank clearings became very small The
significance of this is found in the fact THAT
the clearings, totals this week at all points
New York city excepted) furnish an aggre-
gate of l3 per cent larger than the second
week of August last year. reports of the
gross earnings of l23 railroad companies
during July point the same way, an aggre-
gate of $50, ,l6S,00O, decrease of 10 $40 per
cent compared with July of 1898 against
decrease of 20 per cent in the earnings of
a similar number of roads for June.
The pratical cessation of various severe
industrial disturbances emphasized a ten
dency to Improvement reported in leading
manufacturing and commercial centres this
week. Further indications of a tendency
to Improvement are seen in the weeks ad-
vance of so cents a ton for steel billets and
in fact the domestic wool markets today is
more in favor of the seller than for year.
Wool is firm at two cents advance scored in
the last few weeks.
Refined sugar is one-eighth of a cent
higher, and possibly for reasons not directly
connected with the questions of demand
and supply. Prices of pig iron at st. Louis
are higher; for cotton one-sixtenth of a
cent, up on the reports of the damage..to
the crop, and there is an improved feeling
in commercial circles south. Leaf tobacco
and leather are both firm with an active
demand, and the tendency of prices Eeing
upwards. The recent destruction of lumber
by fire at Chicago steadied quotations. The
panic and unreasoning speculative interest
| IN Indian corn put up the price nesr' it
cents bushel this week. about twenty five
cents above low water mark o. the year.
Bradstreets kilograms from those in
position to know as much can be learned
in the great corn-growing states are at
variance with the more sensational dis
patches bearing on the damage to the corn
crop. They indicate that most of the extreme
bull views as to this staple are exagger-
ated, the increased corn acreage South and
West pointing to proba BILE crop as large as
in either two preceding years, in each of
which the out-turn was not more than six
per cent below the averge of the domestic
crop for nine years past. Wheat jumped 2 5-S
cents this week in sympathy with corn and
oats which was 3-4 cents.
Hay and other feed stuffs ayanced Lriskly
at the West, because of the alleged scarcity
of corn. This supplied the horse. cattle
and hog markets with inferior stock, result
ing in depressed quotations. Lard advanced
sharply, the demand abroad and at home
having expanded noticeably.
Rhode Island woolen mills received
numerous orders because of smaller impor-,
tations due t. an expected adjustment of
the tariff. and the cotton manufacturers in
that thus far have taken no action looking
to reduction of wages, as at Fall River.
Boston reports Massachusetts cotton man.
ufacturers find business unsatisfactory, and
the manufacturers of mems wear in woolens
report products are moving freely. Buffalo
and Pittsburg report improvement in gen.
eral trade extending t o several important
lines. At Baltimore the months trade thus
far exceeds anticipations. Relatively the
most favorable report thus far this year re-
garding the demand for and movement of
staples, was received from the western and
northwestern cities this week, land COM
paratively unfavorable reports from
Chicago. Kansas City and Omaha. AT the
first, while trade is fair the damage to crops
from drought prevented the western buyers
from making as large purchases eX-
pected.
Dry goods and lumber are moving active
ly. Kansas City and Omaha report that in
terror merchants are buying only from hand
| to mouth, because of an expected check to
trade from damage to crops. At Cleveland
| the manufacturing lines report increasing
orders and better feeling. Transactions are
more numberous at CINCINNATI and business
has as better feeling. At Detroit
! it is fair for the season. Louisville
reports almost all branches of business have
| sustained healthy Improvement. At ST.
| excess of that in like portion last year. AT
| st. Paul all staple lines report more numer-
GUS orders and better collect1osp.. larger
volume of trade is announced in several
| lines in Minneapolis.
| There is some gain at Duluth. where COL
| lections are better. The improvement ex-
| tends TO nearly all the lines at San Fran
| cisco as well. Chattanooga adyices are that
| groceries are moving more freely with col
| lections fair. Atlanta jobbers in nearly all
| lines report more active shipments
| Favora BILE weather, good crop prospects
| and bright outlook for business character
| ICES the situation at Augusta, and at Jack
| sonville, Florida, the whole sale trade has
expanded. There is fairly good demand
reported from savannah, sbut no improve
ment at Memphis, though the outlook is
more encouraging, Charleston reports ium-
| ber and naval stores markets as more
active, but neither Birmingham nor New
| Orleans advices contain news of improve
| ment in the demand, while at Gal7eston
! trade is reported slack in dry goods and
| notions.
| The American and European total available
| supply of wheat has decreased 4,l0U,00J
| bushels, net, during July, against a decrease
| of 1,2000tO bushels in July year ago. Last
months sharp falling off in the world S
| stocks ar. due to an unusually heavy July
| decrease in European supplies and those
| afloat therefor, because:stocks at home have
| increased exceptionally last month EX-
| ports of wheat for the United Stat'~ and
| Canada, both coasts, this week, ageregatt
Az 900 bushels, against 50.0lS.O0 of this
| week year ago.
l..,-r ,,.Ne,- fnTl H.