Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-11-02
BRADSTREET'S
Business Smaller, This Week,
Due Probably to Drouth.
Eastern Adyicas Show That Many
Shoe Factories are Now Idle.
Falling OF Of Bank ciearings-0iher Features
OF the Weekly Bulletin.

n.
say. tomorrow The volume Of general
business Is smaller, this week, due in part
to the drouth, although widespread rains
during the latter portion Of the week have
gone far to break the dry spell West and
Northwest The commercial demand has
been mainly for staples, with falling off
in volume. The extremes were found at
Cincinnati, where business has been dull,
and at Kansas City, where it Is up 10 the
average at this time, with heavy mail or
ders.
The distributing centres at the North
west, from Chicago to Omaha, and Duluth
10 sioux Falls, report Il reaction in the de
mand, which Is likely to await the arri9a
Of the winter weather. Larger Eastern
| business centres feel the effect OF the fall
| ing of. in the demand at the West, notably
Boston, Philadelphia and Pittsburg. The
situation at Buffalo, as at other Lake
ports. Is better. owing to the active season
ON the lakes The coal shippers have been
refusing Western orders because of the
lack OF cars. Lake transportation gen
orally has been inadequate to meet the de-
mand of the close of navigation
| After a severe liquidation, the New
| York stock market has recovered from the
| lowest prices Bear covering caused i'm
provement Public interest is still absent.
| Liquidation in European money initiation
| Is considered inevitable, and is made mo c
probable by the warike political situation
| 10 the East AT the South the general
trade among jobbers at most points is only
! fair, in some sections mercantile collec
lions ere slower, and the farmers are hold
ing their crops Business at New Orleans
al the close of the month was smaller 10
volume, as usual Galveston reports very
| little Texas cotton remaining in the pro
ducers hands and the receipts sharply
| falling off
| The general trade las improved some
what ut Memphis Atlanta and Augusta,
aud, to "A greater extent, at Birmingham.
where the output Of coal and iron is much
| larger than heretofore. The number OF
employees at work has correspondinaly in.
creased, the prospects being more favorable
than for months past
st, Louis iobbers believe that next
| springs business at the South will be the
| heaviest for years. No marked changes
ar5 reported from the Pacific coast. At
San Francisco the Improvement in
prices Is shown in a few lines, bly, in
wheat
At Seattle, the volume of business, last
| month, was larger than in September.
| Trade at Tacoma is quiet, importations
during October being valued al nearly So
| 900. 900. Portland adyices are that large
shipments are being made to China, Mexico
and California. Sales at the East are
heavier, and prices higher Industrial
lines retain features of previous weeks.
| The production OF iron and steel remains
at full, with more steadiness in prices than
last week. Recent sales at cut quotation
are known to be resales of purchases on
speculation,
The weakness which affects leather and
hides is competition, which checks the
purchases OF shoes, the buyers preferriDg
TO wait Eastern adv!ces are that dull
mass charlCterizes the shoe industry many
factories being idle. The business in wool
has fallen off one half, manufacturers
having filled immediate requirements and
preferring to wait until the goods market
starts up before buying further Wooden
machinery continues only partly en-
ployed with less favorable outlook than
hoped for. The price of wool abroad is |
weaker. The recent weather conditions
helped the retailers of cotton goods which
remained firm in price, Notwithstanding
the break in quotations for raw material |
The demand for window glass continue
brisk as does that for coal. Prices of
staples, this week. are on the whole,
steady. Raw cotton and wheat have ad
vanced, as we'll rs anthracite coal, naval
stores, leaf tobacco, lumber, rails, steel
blllets, besscmcr pig iron, and several
varieties of cotton goods and wool, al |
though the latter are weaker and IN
changed.
The reaction in leather prices is based
on competition between large interests |
The lower prices for wheat are due to the |
continued neglect of supplies here by for
eign buyers with heavy weekly receipts |
Extraordinarily, the crop of Indian corn is |
behind, there being drop in prices in that
cercal as well as lower price of lard |
The smaller quotation for sugar calls for
no comment. The bank clearings In the
United States, this week, were Sl,0S2, /
600 600, falling off of nearly 6 per cent |
compared with last week, l. per cent. |
larger than the week u year ago, 3per cent |
larger than the like week of 1898, and |
nearly 90 per cent smaller than the last
week of October 1899, when the aggregate |
clearing were exceptionally heavy.
The bank clearings at 60 cities aggre
gate IS. 1871, 662, 727 for October, the largest |
cent. larger than September, this year,
- per cent larger than October, year
ago, so per cent. larger than October of
the panic year, 1898, per cent smaller
than October. 1872, year of large bust
ness, IS per cent. smaller than December,
1892. the heaviest month bank clearings
total on rGsord The heaviest gains are
shown in the Middle states, closely ap-
preached by an increase at the Southern
cities.
The clearings at Sc cities from 10
months aggregate S4s, 10, 644 go, a gain
over last year Of 17.a per cent, a decrease
from 1898 of 81 per cent, falling off
from 1892 the heaviest year on record, of
Ii per cent The exports of wheat flour
included as wheatl from both coasts of
the United States ard Montreal, aggre-
gate . 743, 600 bushels, this week, against
,. aS4, 900 in the week year ago. The
failures throughout the United States
upnher 900 fhis week. against 359 IL, tS.a