Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-12-21
RUMORS OF WAR
So Far Have Had Very Depressing
Effect on Business.
Usual Holiday Trade Not Up TO Average
Increase in Failures.

New York, Dsc. 20.-Bradstreets, to-
morrow, will say: The general business
situation has been affected by the precipi-
tation of possible complications with
Great Britain. The fret to feel this are
the stock market and the prices of cotton
ard wheat, the influence of which ramify
among business houses in many different
! lines. The serious nature OF the Presi-
dents statement Of the case bad the effect
here and in London, of causing he free
selling of securities, even in sight Of the
fact that the expectation Of war IS slight
The most unfayorable feature is, and is
likely to be, the continued negotiations
and uncertainty which must exist until
| the incident is concluded.
! Representatives OF Bradstreets at %
cities interviewed many leading manu-
! facturers and merchants, Thursday, as u
the effect, present or prospective, on the
| trade Of the international situation pre-
| cpitated by the President message, the
message itself and as to the probability OF
actual hostilities. The interviews fairly
represent the sentiment Of many of the
most important financial, Industrial and
commercial houses of the country.
In no instance, as far as the interviews
extend, is war considered as the probable
outcome. So far az the effect on busine
is concerned, Eastern and Western manu-
featuring centers and many larger West
ern and Northwestern distributing points
report that none whatever is felt. In all
cities except four. the cpncensus of opin-
ion distinctly fayors the sentiments cx
pressed in the President message. The
&c
point was divided, are In New York, Bos-
ton Detroit and Milwaukee.
In the grain market, at the cotton ex-
changes and throughout the cotton pro-
iucing regions, as we'll as New York,
Philadel phia, Boston and other New Eng
land POINTS, complaints are heard of the
effects on business Of the international
question which has been raised.
Leading Southern cities report that the
Christmas retail trade Is fairly active, but
that business in wholesale lines is quiet
or unchanged The dizziness is conspicu-
Gus in Texas Cotton continues neglected
at leading markets, Charleston alone re-
porting "A moderate general improvement.
In the West and Northwest, the unseason
ably mild weather, and tho tendency of
will be begun, with the special attention
usually given holiday trade, has served to
render the general trade quiet, ard, at the
best only fair for the season
The situation at San Francisco is
weaker; the feature being the export of
76, 400 bushels of wheat to Sydney. In
addition to the large quantity IF wheat
remaining in California, Portland reports
per cent OF the grain crop remaining in
Oregon Seattle is shipping Christmas
obs to Alaska, and reports that the
shingle industry Ia fat, owing to the
check to toe building industry at the
East.
The industrial situation reflects the
previous tendencies. Jobbcrs in cottons
and woolens rrport the demand quiet at
first hands. Woulen mills are taking only
fair orders for spring goods. Hides are
firmer. the manufacturers of shoes having
begun To anticipate their wants by incrcas
ing their purchases Of leather although
in instances shoe factories have begun to
increase their outputs
Favorable reports come from Western
glass factories, the prospect being
for n largely increased demand and CORE
spending advance in the quotations. Iron
and steel report another reduction in
prices of nearly 81 II ton each, bar iron
having gone off 10 per cent. in price,
which Is also true of structural material.
The output Of pig iron is nearly at the
rate of 600, 600 tons a month, and unless
tie consumers place orders soon. there
will he restriction of the production.
1 Prices generally show no more encOur
aging tendency than heretofore Higher
quotations are recorded for wheat. flour,
oats and coffee Practically unchanged
quotations are made for pork, lard. sugar,
lumber and coal, although the usual
check to building operations at this sea-
son tends to weaken the prices of lumber
Ia addition to the reductions in the
prices of crude iron, steel and various
forms of the same, there are reactions in
the prices of petroleum, cotton, print
cloths, wheat and Indian corr.
The total exports of wheat flour in
cluded as wheat) from both coasts of the
United States, this week, were 2 056, 900
bushels, compared with 3 SOL 600 in the
week. year ago. The exports of wheat
from the Pacific coast show sharp de
cline as compared with preceding weeks.
The bank clearings total, this week,
were Sl,1S5, 900, coo, or per cent
more than last week, nearly II per cent
more than in the third week of December,
1894, 30 per cent. more than in the CORE
spending week of 1893, and 2l.6 per.
cent smaller than in the corresponding
week OF 1892.
The number of failures throughout the
United States, this week. aggregates 1856.
compared with 300 in the like week,
year ago.
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