Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-11-07
MORE CONFIDENCE
Seen in All Branches of Bust
ness the Country Over.
Bradstreet's Says Expected Has Hap
p:ned in Sound Money Fight
And that Manufacturers and Business Houses
Are Feeling Better.

New York, Nov. 6.-Bradstreet's, to-
morrow, will say: The expected has
happened in the success of the fight for
sound money. One result is a return of
confidence in the stability of values and
in early revival Of demand for staples.
Lower rates of interest and willing
ness on the part of banks to make loans
which had previously been declined are
additional evidences of the meaning of
the maintenance Of the gold standard.
Business practically was suspended
throughout the country early this week,
and there has been little increase in
the volume since election, compared with
like periods in preceding weeks. The
manufacturers and jobbers are more
inclined to purchase in advance instead
of for nearby wants only. In few
lines, notably wool, cotton, iron, and
steel, larger volume of purchases is re-
ported. That merchants generally share
the confidence in an early revival is in
Dictated by hardening staples prices
and increases in quotations in addition
to those given in preceding weeks.
The gold which had been withdrawn
from savings and other banks by timid
depositcrs is flowing back into the
banks much faster than it was drawn
out Advices from various financial
centers are that wages and small
checks are being paid freely in gold.
this week The sales of cotton goods
are freer and some mills are better
employed. Wooden mills report more
orders and a tendency to prefer higher
cost goods. Numerous industrial es-
Establishments which have started up
within two days report being offered
large orders if they would sell for 1891
delivery at present prices. Many
Rhode Island manufactures report
preparations for larger output than
anticipated, and that orders received
contingent on election results, notably
in the lumber and jewelry lines. are
now being filled.
Millions of dollars worth of orders for
general merchandise, given contingent
on the success of sound money. are being
filed. Owing TO the lateness of the sea-
son. few have regarded the outlook as
promising much in the nature OF boom
during the current year. At a rev Nortn-
western commercial centers large orders
have been received from country mer-
chants within a few days. In Georgia
the farmers have met their oblgations
this autumn more promptly than 1oT
manufacturers are reported looking
ahead confidently to marked improve
ment in business in the near future.
Reactions in quotations are conspicuous
only for Indian corn and lard. Prices for
oats. pork. sugar and petroleum are firm
and practically unchanged. Pig iron Is p
cents higher. with sales. of considerable
amounts in Western markets Lumber Is
firm. and the tendency is upward. There
is an advance for white pine. There is
placing orders with mills advance print
cloths. Cotton, rosin and turpentine are
higher. as is coffee and wheat. which. I'M
der the stimulus of the strong statistical
position and to an extent. the results of
the election, reports another marked adj
vance.
ciuded as wheat from both coasts of the
United States and from Montreal. this
week, were 3,472,000 bushels. against $685..
600 in the week. one year l o ago. Exports or
week. nearly twice as much as in the
corresponding week of a year ago.
The bank clearings totals. continue be-
low the S1.00o,000 mark. being 1895 900
for the past week. an increase of per
cent. over last week. and decrease of II
per cent. compared with the like total.
aggregate A.547. 900 900. a gain of "a per
cent. over September, and decrease OF
1875 per cent. from October, a year ago.
The October total is the largest for any
month, this year, except January, and is
% per cent. larger than that for August
The 10 months total clearingS was SILL
otZ.WDDUO, a decrease from last year Oh 5.
per cent. and an increase of 1913 per cent
over 1894. Every group of states but one
shows decrease in the 10 months total
from a year ago, the sole exception being
in the South.
Failures throughout the United States
this week, number 223-S7 less than in the
corresponding week of 1895.
The October domestic and Canadian
available wheat stocks were nearly $780,
900 bushels in excess of the total of year
ago. November l, 1896. they were 1900. 0O)
bushels less than year ago. Northwest
ern wheat experts insist that the spring
wheat crop is 50. 0O0.0 900 bushels short and
that 25.0Oo.OO0 bushels We're rendered I'M
fit for food after having been grown
They call the current crop 400. 600 900 BUSH
eds, which, which the wheat carried over.
July l last. leaves only 22000, 900 bushels
for export in the remaining eight months
of the cereal year. The worlds available
stocks Nov. l, are the smallest for five
years.