Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1894-07-28

A GLOOMY FEELING.
Democratic Tariff Monkeying Has
About Killed Business.
Depression Reported All Over the couhtry-
No Early Change Expected.

New York, July 27.-Bradstreets, to-
morrow, will say: The leading Influences
affecting the course of general trade
throughout the United States. within the
week, have not resulted in net gain. The
prolonged drought and heat winds have
damaged corn and other crops 10 Nebraska,
and fears are entertained OF like losses IN
Kansas. The outlook for the yield in spring
wheat states is regarded IS unfavoraole'
which reacts upon the country merchants
and checks demand. Several thousand
striking miners in Ohio. Indiana and Ala
bama, refuse to return to work at the rates
agreed upon in conference, and this con-
tinues to depress business throughout the
tributary regions.
Iron, steel and other industries are ham
pered throughout the Pittsburg district for
lack of coke, which restricts the production
in the face of mildly improving demand.
Continued exports of gold from New York
are regarded as an unfavorahle influence,
and there are more unfavorable reports a.
to mercantile collections. More serious in
its disorganizing effect on general business
is the continued delay of tariff legislation.
The other side reveals reports of moder-
ate improvement in general trade at
larger number of Southern cities than las
week; an improvement in the outlook for
the Columbia river canning pack; an in
creased activity in all leading lines at San
Francisco; full and regular fruit ship
ments east from the Pacific coast and al
improved demand for iron and steel
at st. Louis, Pittsburg and other
centres; practically complete res
toration of railway freight service
throughout the country; a tendency
to buy very sparingly for fall
delivery at Philadelphia, Baltimore, New
York and Boston, excellent crop prospects
in most of the Southern states, and increas-
ing orders among Providence manufacturers
of dry goods, specialties and novelties in
jewelry.
The squirt in the demand for wool at
Boston and at Philadelphia is attributed on
one hand to the expectation of the failure
of tariff legislation and on the other to the
demand by spectators, who believed wool
prices had touched the lowest possible point,
Trade in shoes, leather, hides and lumber
remains, as for weeks past, o.
moderate dimensions, the business in gen.
eral lines there continuing Of a hand t.
mouth character. The demand for summer
specialties in dry goods is only fair. Cot
ton stocks are accommodating. Increased
purchases of prints for fall delivery are
based on concessions.
At Providence, manufacturers of worsted
suitings say bushes, is improving, but those
OF fancy cashimeres talk of curtailing tn,
output. Increased orders for Philadelphia
textile manufactures are at exceptionally
low figures. At Baltimore the furniture
manufacturers are fairly busy, and there is
some slight gain in hardware.
From the south, Memphis, Nashville,
Charleston, Augusta, Atlanta, Chattanooga,
Savannah and Galveston report slight i'm
provement within a week. At Birmingham
the prolonged labor disturbances depress
trade. At New Orleans jobbing is dull, Blu
the building trades are active.
Advices from Western and Northwestern
cities do not show relatively as much i'm
provement as to feeling or demand,
Cleveland, Cincinnati, Louisville (.x-
cept for leaf tobacco, Detroit, Omahs
lowing to crop damage, Milwau-
kee, st. Paul, Minneapolis and Duluth
reporting general trade as characterized by
more than usual midsummer dullness. At
Chicago there is little improvement as CON-
pared with periods Immediately preceding
the recent railroad disturbances st. Louis
continues its exceptionally favorable re,
port, particularly with reference to the
manufacture of shoes, jobbers in hats,
hardware, leather, drugs, iron and steel.
Kansas City reports fair midsummer
trade.
Bank clearings throughout the United
States for the six business days ending
July 26, aggregate $4,000, 900, adecrease
of about per cent. compared with the pre-
ceding week and of about ID per cent. COM
pared with the corresponding week in July,
1898, during which period business was
much checked by the financial panic.
In the majority of instances prices for
staple products show a net decline this
week. Exports of wheat, United States
and Canada, both coasts, for the six bust
ness days ending July &c, have increased
surprisingly, amounting to 1888 900 BUSH
els. One year ago, in the fourth week of
July, the total exported was 4,363 900
bushels.
There have been 237 business failures in
the United States this week, compared with
4S9 in the fourth week of July, last year.