Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-09-28
BRADSTREETS
Report Increased Demend for
Money East and West.
General Trade Irregular Owing to
Sudden Changes in Weather.
Weeks Business Shows Decrease Of IS Per
Cent. Over Corresponding Week ia 1895.


New York Sept Bradstrcets will
say, tomorrow: The striking features of
the week are an increased demand for
money. East and West, the maintenance of
the Widespread, active demand for iron and
steel, the further upward movement OF the
price of raw cotton, together with the ad-
vauces in quot atoms for wheat flour wheat
ami wool. The sudden changes in the
weather, affecting a wide expanse OF terri
tory, have made general trade irregular
though reports from those sections IN
fsvorahly affected are in part offset by the
stimulation of the demand for certain
staples in other portions of the country
| An improved demand for funds con
tinuts To be the feature of the money
market at Boston, New York, Chicago.
St Louis and minor centres INQUIRY
among bankers at the cities referred To
reveals better demand from all classes of
mercantile borrowers Bank clearines
| throughout the United States aggregate
1898, 600, 600, this week, Is per cent less
than last week, 81 per cent larger than
during the last week of September. 1894.
and 80 per cent larger than the core
spending week of 1898. Contrastcd with
the corresponding total in 1899. the wear
OF large volume of business, the current
week transactions indicated by the bank
| clcarings total, show a decrease of l6 nor
| cent.
Increases in bank closrings among morn
| important cities this week are. Now
| York, 20 per cent, Cleveland, 90 per cent
| Boston and Providence, % per cont each
PHtsburg 81 per cent Cincinnati. Is Der
cent; Philadelphia, l6 per cent : 81
Louis, II per cent Peoria, is per cent |
Minneapolis, per cent. Chicago. s per |
| cent
Speculation in the New York stock |
| market this week was absolutely profes- |
sional There has been a stronger tone
with demonstrations of strength in the in |
dustrlals led by the distillcrs and the an |
thracite railroads shares under the in
iluenoe OF Reading, Speculation has
turned in the main upon tho exchap pc
market and the gold shipping outlook.
The demand sterling has been down tn
$50; at the close Of the week it rallied |
to 4.sS12 and 4sssi. At these figures ex
ports of specie to London direct would be
Improbable. Leading amateur gold
shippers have taken az 500, 900 from the
treasury for export to Germany pre-
'uh"o'y VII ep'Clhl OTutr
The general tendency of the price move.
'heht Is the reverse of that shown in
several previous weeks The live stock
western markets have been in very liberal
receipts; prices are low and weak Indian
corn and pork are lower with n down
ward tendency. Prices have remained
firm and unchanged for corn steel. oats
lard and coffee. Leather has an inward
movement In addition to the items spect.
fed. This includes sugar. print cloths
petroleum. turpentine, anthracite coal and
Havana leaf tobacco The latter has adj
vanoed on demand in the expectation that
the war in Cuba will curtail supplies in
the near future
Higher prices for foreign woods in LON
don have compelled domestic manufac.
turers to pay more for raw material. At
present quotations, foreign woods In the
domestic markets can be sold abroad mt a
pront. The trade in light weight woolens d
IS unsatisfactory. Owing to the bigb
price ana strength of cotton, caution is
being exercised in buying cotton goods. )
The south Is more bullish on cotton.
The continued evidence Of short crou an l
pears to baye at last compelled recognition :
abroad
The general business at the South has v
shown Improvement at Memphis, Nash
vile, Atlanta and Birmingham. The de- =
mand for funds there is improving and all 9
that appears needed is the frcer IN 1yc,nent
of cotton. q
On the Pacific coast, Seattle continues '
30 ship general merchandise to Central Z
America and Alaska freely. Tacoma re.
ports the wholesale grocery business 5
heavier there than in 1894, with Alaska y
trade improving. The general business nj a
oan francisco is comparatively quiet.
The canned fruit output OF California will o
be about equal to that OF last year.
IEe advance In the price of wheat on
reported damage to the crop In Argetine
may or may NOT be the beginning to the
upward movement. Accepted statistics G.
the supplies Of wheat in this a.
country, II not discredited in the near fu. O
iure may compel wheat prices to follow j
IA the footsteps OF those for iron Tele- Il
grams To Bradstrects from widely different d
'oihts seem 10 Indicate very general in q
'ent'ol on thc part OF grain producers So u
loia wheat Tor higher prices This refers al
% spring wheat III the territory tributary OF
20 Minneapolis and to the wheat country in 81
)rrgon. Wheat exports from both coasts
If the United States and Montreal, this
week, (wheat flour as wheat). are the
argcst since last March,. 1885. OC0 -,
bushels, against 2,53s, 900 last week. g. y,
~, QUO In the week year ago, 3,1s9. 600 .
NO vars ago, and f,0l7, 900 three years
igo.
Thre wete 1920 failures-total assets &C
'6l, 1872 l07, liabilities slO9, 1855 723- in o.
ne United States during the past nine u
nontts,as against 925l fallures-total as "