Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-02-02
THE UNCERTAINTY
Regardingthe Financial Policy
Has Depressed Business.
But Few Of the Staple Products Have
Held Up in Price.
Peculiar Situation in The Wheat Market-FsiI-
ures for the Week.

| New York, Feb 1.-Bradstreets, tomor-
row, will say: Special kilograms to Brad
streets from many of the more important
points of distribution throughout the
country make it plain that the uncer-
tainty as to the outcome of the financial
situation, based on the rapid Withdrawals
of gold from the treasury, has had a depress-
ing effect on general trade. At nearly
all the larger Eastern cities rates for
money have advanced, and at Boston the
supplies of commercial paper have in
creased.
| Mercantile collections at best are charac-
terized as fairly satisfactory, and in most
instances slower than usual at this season.
This is emphasized by the fact that Balti-
more jobbers are waiting the results of
sending out bills for last falls business
| before determining as to the credits to be
| granted. The failure of the vicious fea.
| lures of the Brooklyn trolley car strike,
which has cost about s3,000,0 900, permits
IA revival of trade at that city and to an
extent at New York
Among the 20 staple products, four re-
manned steady in price-wool, lumber,
hides and leather-although in the West
ern centers some of the grades last named
were held at an advance, ard at London
wool sold up slightly. The more impor-
tant decreases were on live cattle and
hogs, the latter being 10 cents per cent,
wheat, corn, oats, pork, (about 81 per
barrel after the bulls tired of holding up
the quotations), lard and cotton.
The greatest encouragement as to
advances in prices is found among iron
and steel industries. Bessemer pig iron
and steel billets has advanced fully Is
cents a ton each, the demand for shaped
iron by car, wagon and implement makers
calls for attention, for nails and barbed
wire being pronounced, advancing the
prices cents on each.
The low temperature in the West put up
the prices of eggs and potatoes, and quota
tions for coffee and sugar are higher In
the textiles there is little change or pros
pect of early improvement. General lines
of fancy printed fabrics are going from
the jobbers' hands fairly WELL and print
cloths are a shade better than q wsek-ago.
Foreign wooden dress goods are reported
active and as having secured the bulk of
the orders placed at Eastern centres thus
far. The outlook for American mills
engaged on wooden dress goods is regarded
less favorably, but manufacturers of mems
wear woolens are busy.
Every Eastern city reporting specifies a
moderate volume of business, or that
general trade is quiet with a hand-to-
mouth demand, partial exception being
Buffalo, where the cold weather has
stimulated the sales of coal and other
seasonable goods, although general mer-
chandise is moving slowly. Providence
reports fair outlook for the wooden goods
manufacturers and manufacturing jewel
ers. The only line in Philadelphia report
ing anything like activity is dry goods,
the demand from the West having i'm
proved. At Pittsburg there is encourage
ment because of the outlook for iron and
steel.
At the West the only city reporting
larger volume of general business or in
fluences for general improvement is st.
Louis, with a satisfactory trade, particu-
larly in millinery, dry goods, iron and
STEEL At most of the other cities in the
Central, Western and Northwestern states
business is only fair or quiet, except in a
few staple lines.
helped business At Chicago, the prices
VI tuu uclllduu IOT ClOtHIuS, SllOtS anu
rubber goods is stimulated by lower
temperature. Kansas City reports fair
demand for forward delivery, and at
Portland, Ore, wholesale lines are more
or less depressed. San Francisco reports
no material change within the week.
At the South better distribution
of shoes, clothing, rubber goods, and gro
ceries is sufficiently conspicuous at Chat
tanooga and Galveston to mark the trade
at those points an exception to the rule
throughout the south Atlantic and Gulf
states. The movement of hardware and
dry goods from New Orleans has increased
but trade in general is only of moderate
proportion.
The first complete1'and official report Of
the January bank clearings at all the
cities is reported by Bradstreets by tele-
graph, the total being 49, 364, 900, 900, OF
81 per cent, more than December, 1894,
and "a per cent. more than January,
1894. Compared with the clearings in
January, 1903. in which month and in
December, 1899, the totals were among
the largest on record, the January clear
ings of 1895 show decrease of % per
cent. compared with 1894.
All the larger cities, except Baltimore
aud New Orleans, show moderate gains |
in January clearings, compared with the
totals year ago. During this week the |
total clearings amount to s942 600, 900, or
2.5 per cent. more than the preceding |
week, and "a per cent. more than the last |
week in January, 1894. /
The grain trade was surprised this week |
by Bradstreet's report of the relatively |
heavy increase in stocks of wheat afloat |
for and in Europe, as q decrease was an
ticipated. During January the ex-
ports of wheat, both coasts of the United |
States flour included as wheat, |
continued to average 5000, 900 |
bushels week during the six business
days ending Jan. 81, and the total SO ex-
ported was 2, 4s3, 900 bushels, compared
with 2sS49. 600 in the week before and
9, OS3, 900 in the week year ago.
The number of failures in the United
was 3l2 this week, and $40 in the week a
year ago.