Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-08-17
MIDSUMMER QUIET
Affects Trade Throughout the Coun-
try and Business is Dull.
Bank Clearings Hold up-RaIiroad Earnings
Show Gains Over 1894.

New York, Aug. 16. -Bradstreets, to-
morrow, will say: The midsummer
quiet is more conspicuous than a week
ago though less SO In industrial than
commercial lines. AS Il rule, the leading
manufacturing industries are exception
ally busy for the season and the increase
in the output of, demand and prices for
iron and steel still continues. Many in
the trade were surprised by the very un
favorable cotton crop report by the gov
ernmcnt and the price of cotton speedily
advanced.
Steel billets lave been marked I'D, rs
well as some varieties of print cloths.
Quotations for -four, oats, pork, sugar,
copper and wool remained firm. but un-
changed, and declines are recorded by In
dian corn on a very favorable crop report
by lard. n wheat, Notwithstanding the
statistical strength Of the cereal in every
direction except exports.
Jobbcrs in the more important staples
lines, at Chicago, St. Louis, Kansas City,
Omaha, Milwaukee, Minneapolis and St.
Paul report an improved demand. The
outlook at all those points Is for an active
fall business and the larger among them
report that country merchants are per
sonally selecting fall stocks quite as freely
as expected. Kansas City dealers do not
expect an early advance in the prices of
live stock products. At Omaha the coun-
try merchants are said to be buying more
freely than for years,
At San Francisco the leading com
mercial lines are quietcr. Hop picking
is about to begin on that coast with an
outlook for only a moderate crop. The
wheat crop prospect in California is rather
less favorable. Washington crops are
good. Tacoma reports easier collections.
lumber shipments about equal to those of
the previous month, and the receipt of
10, 600 tons of freight, this week, from
the Orient. Portland, Oregon, wires that
the spring salmon catch on the Columbia
river is large.
Throughout the Southern states gen
eral trade remains quiet as, and in some
Instances quieter than, a week ago. Mer
camille collections nave not begun to I'm
prove. At some points jobbers report a
small falling of in the volume of sales.
though in several instances this is due to
rainy weather. Rain is needed in South
Carolina and in Texas, but it is estimated
that even with very favorable conditions
from this time on, the Texas cotton crop
vii not exceed 1880, 600 bales. Word is
received that Texas interior merchants
have been cancelling baggiug and tie
orders.
Exports of wheat flour as wheat), from
both coasts of the United States have been
slowly increasing for four weeks past.
This week, they amount to 1924, 600
bushels, against 2,a79. 600 in the week
of a year ago, and G., 1919, 900 in the second
week of August, 1898. Exports of wheat
and flour during the seven weeks sof the
new cereal year amount. in round nun
bers, to -, 600, 900 bushels. In the like
period of a year g the total exported
was 10000, 900; two years ago, "a, O0O. 900.
Bank clearings for the week continue
to hold up remarkably well, the total
being 1894, 900, 600. or 8 per rent. less
than last week, l3 per cent. more thar
the total for the corresponding week of a
year & and ~ per cent, more than in
the second week OF August (the panic
perlod) OF 1893, and IL per cent. less
than the like week in 1892.
The railroad earnings returns for the
first half of the present year show very
satisfactory aggregate gains over last
year, the period of the great coal and rail
road strikes and financial and industrial
depression and arrangements. The best
showings In net earnings were made by
the Central Western, Eastern and South.
western roads. The only decreases noted
are in the Granger and Southern roads
The total gross earnings of 145 com
panics, operating about two-thirds of
the country's railroad mileage, aggregate
S349, o99, 773, a gain over the first half of
1901 of Sc per cent. The net earnings
aggregate s102, 7G7, 7S6, a gain of $ per.
cent.
The above percentages of gain are in
sharp contrast with the decrease shown in
1891 from 1898, in gross and net, of re-
spectatively 49, and 1873 per cent.
There are 1913 failures reported through
out the United States, this week, against
23i in the like week of August, 1894.