Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-12-07

BANK CLEARINGS
Show Enormous Increase Over that
of Thanksgiving Week.
Wheat Advances failures Are less-Holida,
Trade Picking Up.

the features of the preceding weeks-f
smaller volumeland quiet in most lines, =
business being conducted conservatively
ana there being activity only among deal
CTS IN woolens. el, thing, shoes and hard
ware New orders are generally of films
IN character. The season evidently ha.
been late the prolonged mild weather
having delayed orders until Christina.
| demands and the belated autumn reoues,
| came together.
notwithstanding the almost uniform
reports of quiet aud unchanged conditions
there should be nQted that Jacksonville
Augusta and Birrp bingham at the South
and Milwaukee, Kansas City and St. Louis
at the West, provdexceptions to the rule,
by reporting gain in demand for whole
sale staple goods, compared with the pre-
ceding week
The course of pIices shows more favor
able tendency, sugar, Indian corn and
wheat showing advances the prices OF
wheat flour, wheat, pork, rice and tobacco
being firm, and suggested lower prices
furnished by oats, lard, coffee, cotton,
print cloths, petrpleum leather, hides and
lumber, coal, Southern pig iron. bessemer
pig iron, live hogs and live cattle.
The continued depression in wheat has
finally been followed by an advance due
to the continued heavy shipments of
wheat from the Pacific coast and the con
tirmatory reports Of short corps in Aus
tralia and Argentine Republic Mime
sofa, Iowa, Nebraska and Kansas farme rs
are endeavoring to hold as large proper
ton of their csreallproduce as possible, and
buyers are trying TO purchase wheat and
corn to hold. Duluth advices state that
with the cl' Sc of navigation the grain re-
ceipts will fill the elevators there to over
flowing.
Leather is going abroad to parties who
have sold hides to this country at an ad
vance and who are now buying American
leather after the reaction of 25 per cent in
price. Fractional declines in pig iron
prices are regarded as bottom, which, In
addition to the lower quotations for bill
lets, should have the effect of reducing the
price of steel rails, with which, it is
thought business for rail mills may fol
low. No significance is attached to re
cent order for 10 600 tons of English steel
rails for far Western railway
In dry goods the holiday specialties are
steady, and woolens are in only moderate
demand with an outlook not favoring
particular activity early next year The
wooden mills are said to be receiving fair
orders for spring. The holders of wool
are sanguine on Sthe stronger London
quotations and higher prices in Australia
and Argentine Republic.
Coal receipts at San Francisco from
Great Britain and Australia are unusually
heavy, as are exports of wheat from that
port, and wheat is reported moving slowly
at Tacoma The railroad passenger and
freight rate war between Portland and
San Francisco has resulted in somewhat
changing the usual currents Of the Pacific
coast holiday trade.
The falling off of % per cent. in bank
clcarings, last week, which was unusually
heavy, even for Thanksgiving week, is
more than offset by the s1,247, 900, 600
clearings, this week, 43 per cent. more
than last week, per cent. more than in
the first week of December, 1894, and II
per cent. more than in 1898.
The decrease, this week, compared with
the corresponding period of 1892 when
the total was probably the largest weekly
II per cent, and as compared with the like
week in 1891, decline of only per cent
The November bank clearings were 81,
6SS, 594, 925, or 9.6 per cent. smaller than
October, 10 6 per cent. larger than Novcm-
Der, 1891, and IA per cent. smaller than
November, 1892, the record month in
cleariDos.
With the exception Of October and May
the total of the month just closed is larger
than any month since May. 1898. AT
New York, the gain over November of last
year Is IL per cent, while outside of that
city. there is "A gain of over ] l per cent.
Twenty three cities show decreases for the
month compared with 1894 a larger mum.
Der than for some time past, but the de
creases at the larger cities are mostly frac-
tional.
The total clearings at 90 cities for II
months, aggregate SAT, sos, 239, 595. gain
ofs17 per cent. over last year, decrease'of
less than 3 per cent. from 1898, and a de
crease of II per cent. from 1892 Only -
of the 81 cities show decreases this year
from last in the / l months period
Exports of wheat flour included as
wheat) from both coasts of the United
States, this week, none from Montreal,
were g. 81, 900 bushels, compared with
S0f1, 900 in the week, a year ago.
The world available wheat stock. com
piled by Bradstreets, show 1874, 900, 001
bushels of December, 121, 900, 600 less
than year ago and $4,000, 600 less than
two years ago. European and afloat stocks
are IS, 600, 900. which, while larger than a
year ago. are much smaller than the cor
responding total of two years ago.
The available wheat stocks in the
United States and Canada at this time is
the smallest at like dates in three years.
November net increase in the worlds
wheat supplies is about 1000, 900, about
half the November increase Of 1891 and
1892, years of extraordinarily heavy re-
ceipts), only two-thirds the November in
crease in 1898, and more than twice the
November increase Of last year
Failures in the United States. this week,
number 3l5, against 322 in the first week
of December 1894.
SULTAN CONSENTS,