Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-08-10
IRON AND STEEL
Lead All the Other Commodities in
Production and Good Prices.
General Trade Reports from All Sections Are
Very Favorable.

|
morrow, will say The features of the
business week are the continuance of the
remarkable strength of the demand for
the increase in the production of, and the
advance in the prices of steel and iron,
practically all firstclass producing plants
having been put into service and not a
few cripples.
| No rebound since the depression of 1894
has been stronger or more surprising than
that in iron and steel OF the same nature
is the evidence of improved business con-
ditions shown by the activity in almost
all manufacturing lines, more particularly
those in which iron and steel are employ ed.
The demands for railway cars have
heavily increased, as have the requests for
steel rails, and in consequence for bessemer
pig iron. In cotton goods the present
prices, which have an upward tendency,
do not represent the full advance in the
| quotations of raw material
While the mid summer dullness charac-
terizes all but few departments OF in
dustry and commerce, it is plain that
the distribution is far in excess of the total
of a year ago, and that the outlook is quite
favorable. Prices have shown no great
change, this week, cotton, leather and
prints being noteworthy for advances, and
copper for its strength after the sudden
upward rush In prices.
At the larger Eastern centers the only
noteworthy change is in the increased
confidence in large volume of business
In the fall, though as yet no material pro-
gress has been made in that direction, al
though an improvement In the sales OF
commercial travellers is reported from
most cities covered.
There have been moderate changes In
general trade in the Southern states, the
most striking being at Dallas and in gen
cral throughout Texas Crops of cotton
and corn there are large and the country
merchants are buying more freely. Build
ing is quite active in Texas, which has
had the usual effect on lumber and build
| ing materials trades.
At Memphis there has been slight gair
in the volume of merchandise distributed
and at Nashville business is quite active
with an improvement in collections, ow
Ing to marketing of wheat Jacksonville
md Savannah merchants announce q
moderate gain, and at most of the othel
cities only the usual midsummer trade il
reported, though with prospects for an &C
tive fall business.
Continued delay of the payment of the
sugar bounty continues to act AS drae
IN general trade in the sugar district OF
louisiana. Tho arrivals of new rice al
New Orleans are small, and prices unsatis
factory. With the free movement of the
new coIp of cotton, Southern wholesale
merchants are confident that general trade
will promptly respond.
The centre of commercial activity at the
West follows line drawn from St. Louis
through Chicago, st. Paul, and Mime
,polis, with an improving demand showr
Ilong the Ohio river valley. Reports o.
large crops of Indian corn and spring
wheat continue the feature, md, although
corn Will not be beyond danger for more
han a month, interior merchants at many
points are beginning to discount the out.
look by purchasing more freely for fall
delivery.
Wholesalers at Chicago and ST Louis
report the receipt of good orders for dress
goods, hats, caps, clothing and shoes, tC
large degree the result of personal seleo
ion by interior merchants.
General trade on tho Pacific coast has
improved within the month. One of the
'eaturcs is the recent Importance of the
| 'oreign trade of Seattle and Tacoma. The
development of our interchange of com,
noditics with the Oriental, Mexican, Cen.
raj and South American countries is hav.
ng marked effect upon the cities named
San Francisco authorities wire that the
wheat crop in California Is admittedly be
ow the normal but the fruits in that
state are ripening faster almost than the
;anneries can handle them.
Exports of wheat (flour included as
wheat) from both coasts of the United
States and from Montreal were / $50 00C
bushels, this week, against 8, All, 900 in
The week Of year ago. August /, Ameri
AN, European and anoat for Europe stock
If wheat We're smaller than since 1892, at
5he like date "a, 000, 600 bushels less than
year ago, and $4,000, 900 less than two
years ago. Compared with August 1899,
he increase quantity held this year is 90,
300, 600 Compared with 1891, the In.
crease is 49, 600, 600 bushels.
The bullish feature of the exhibit is
'ound in the unprecedented decrease
more than ~, 10000 bushels-in the
worlds stock of wheat during July of this
| year.
In July, 1885, the worlds stocks of
available whea twas increased about 8, 1000,
900, ana and about $500, 600 buShel in
July 1891. In 1890. there was a falling
off of only about SEQ, 600 bushels; in 1892,
about 700, 600 In 1898. the shrinkage
in the worlds wheat in July was 1900,
900 bushels; in July, year ago. 400,
300.
One English correspondent writes that
the wheat area in the United Kingdom
is So the smallest of the century," and the
probable maximum yield will not be more
than 40, 600, 900 bushels.
A very bullish influence in the wheat
market is found in the continued heavy
weekly decreases of available stocks
through July and to the present time in
August, whereas in preceding years, the
increases in the available supply generally
hogan early in July or at the close of that
month.
Failures numbered eco throughout the
United States this week, against 1877, a
week ago