Daily Kennebec journal., 1895-07-06
RESTORING PRICES.
Over 100000 Employees Have
Wages Advanced.
Upward Tendency of fPrices Still Noted
--GeneraI Trade is Good.
Wheat Supply is Low-Bank CIearinss Show
Increase Over 1894.

HiorroW, Will say. MISUNDERSTANDING tnat,
the week was broken by holiday, the
favorable trade conditions heretofore re-
ported continue to exercise pronounced
influence prominent being general ad-
vances in the prices of staples and wages
of industrial employees. The latest ad-
vices are that in all more than /, ZOO, 900
industrial workers have received an ad-
vance averaging about 10 per cent.
The upward tendency in prices, while
not as marked as month ago, is still
striking because of the additional ad-
vances, those of lumber, tin plate, and
print cloths being new. Piece stuffs at
Chicago are about 80 cents higher per 1000
feet, and at Seattle lumber is to be ad.
vanced, today. st. Louis reports tin
plates 10 cents per box,higher, and Ameri
can tin plate factories are kept busy to
meet the demand.
Cotton goods are firm generally on the
late advance in raw cotton that seem
varieties require at this, the midsummer
season. Fancy prints are active for all
delivery. Wool is quoted a. another ad
vance for South American and Australian
varieties. The prices at the London sales
are up 10 or Is points, which, having been
more than discounted here, induces the
trade to anticipate a reaction unless the
London quotations advance further.
Cotton is higher, as is leather, follow
ing which we have repetition of the an
nouncement made each week for more
than a month, that the quotations for pig
iron and steel billets have advanced. To
this must be added similar statement in
respect to bar iron. The anthracite coal
trade remains in the unfavorable condi-
tion which has so long characterized it.
Cattle and hogs remain practically un-
changed in price, as do sugar and coffee
Among the list of staples for which
prices are lower, are wheat, -four, corn
and oats, in all instances the outcome of
the reports of improved crop conditions.
Pork and lead are lower, as are potatoes
and butter.
At the East the most active trade in
reported from Pittsburg, where revival
among the iron and steel industries has
stimulated trade in almost all lines. At
the West the most favorable condition of
business is reported from St. Louis, and
the incentive appears to be uniform re-
ports of favorable crop prospects through
out the region tributary to that city. No
material improvement is reported from
the South. rains continuing to be damag-
ing to the agricultural interests and to
check business in Texas.
At the south Atlantic and Gulf states
cities, movements Of staple goods are fair
and the unsatisfactory conditions of the
past month or two continue. The advices
from nearly all cities reported appear to
agree that wholesale dealers in nearly all
lines are greatly encouraged as to the out
fnr h,yc "a = k.,, H.
lieving that the demand will be greatly
stimulated by the very general and as it is
now believed, permanent improvement In
prices.
Total June bank clearings of 61 cities
was S4, 3Sl, 7S5, ,0S1, a decrease of 9 per
cent. from May. an increase over June of
a year ago, of 22. 4 per cent. which showed
Il decrease of go per cent. from June, 1893.
The gains in New England, Middle West
ern and Northwestern states over last year
are smaller in June than In May In the
Southern and far Western states the in
crease is larger than In May, pointing to
business improvement in the latter Sec
tions, Total clearings at the 81 cities for
the six months of 1885, aggregate s25, 204,-
565, 767, an increase over 1894, of 16 per
cent. and decrease from 1898 and 1892 OF
II per cent. Among SO cities with totals
for the six months of 1894 and 1896, only
II report decreases
The United States and Canada carry
over so, III. 900 bushels Of available wheat
into this, the new cereal year, about 90
per cent. less than one and two years ago
Within six months these stocks have de-
clined 66, 900, 900 bushels. the heaviest on
record for like period, and in the face Of
a net increase of such stocks in the latter
half Of 1894 Of fully So, 500, 900 bushels.
European stocks of wheat in store and
afloat are 20, 760, 900 bushels, decrease of
only 5000, 900 and 100000 respectively
from one and two years ago. American
Canadian, European and Australian
stocks Of available wheat July /, 1895,
amount to 1876. 677, 900 bushels, against
154, 319, 900, year ago. and 157, eos. 900
two years ago. and smaller quantities In
previous years
Exports of wheat flour included as
whcat) from both coasts of the United
States and from Montreal were 2.007, 900
bushels, this weeks, against /, $50, 600 In
the week year ago and 8, ,677, 600 In the |
first week Of the new cereal year in 1893 |
There are 1877 business failures reported |
throughout the United States, this week, |
compared with 1G4 in the first week of |
July, 1894.