The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-08-08
TRADE UNCHANGED.
Bradstreets Finds No Improvement
In Situation.
IN SOME DEPARTMENTS 1T rs
ALMOST LIFELESS.

Bankers More Cautious About Making
Loans-Rise in Price of Cotton ON Ac-
count of Heat-Reports Concerning
General Trade More Favorable Than
Last Week.
New York. August 7-Bradstreet's to-
morrow will say: In nearly all lines trade
Is unchanged and In some departments
lifeless. The south and southwest heat
had an unfavorable influence. Merchants
in all directions continue to buy for
needs only, while 1T is too early for the
fall trade to assume large proportions.
The distribution of clothing and shoes
at Chicago has somewhat improved al
though less active than a year ngo. At
several centers bankers have preferred
not TO loan as freely as heretofore. Mer-
chants not wishing to be refused have &C.
cordingly curtaiiod requests for accom-
mediation. Merchantile collections are
slow and in some instances moro difficult
to make. Tho renewed scrutiny of credits
had the effect of restricting the same.
q Iron and steel industries remain iexoes-
| sively dull. The maker of pig are pill
ing stock. Largo lots could be obtained at
concessions. Cotton yarn manufacturers
have agreed to ourtail production 90 per
| cent during August. Owing to lack OF
demand the western packing house en-
ployes have been laid off. There ia no
improvement in wool. Some Philadel-
phia mills have shut down. Portland ad-
Woes are that no considerable movement
of Oregon wool will take placesuntil after
| election.
Cotton goods remain unchanged not
| withstanding the higher price for cotton.
The relative activity among makers Of
boots and shoes In because of orders on
hand rather than new business.
Comparatively favorable reports con-
corning general trade are more numerous
than in preceding weeks.
New Washington wheat will begin Eto
move freely 40 on. This is expected to I'm
prove trade on the coast. The favorable
condition of the Texas cotton crop con-
tinues to help jobbers at Galveston.
The exports of wheat flour included
as wheat) from both ooasts of The Unit
ed States this week Is O. TAI, 600 bushels,
compared with 1.550.000 in the CORE
spending week one year ago. There are
weaker quotations for iron and steel, fol-
lowed by those for hides. Indian corn Is
off on account of the effects of the in
tense heat on the crop. Wheat is in sym
pathy with it and few sales and lack of
bayipg demand. Other declines are TO r
coffee and petroleum. In addition to the
high price for cotton on account of the
damage to the crop from the extreme
heat prices for sugar, lard and pork are
higher, the last two in sympathy with
the speculative movement in those pro-
ducts. Bank cIearings at II cities during
the past six business days were $912, 000
900, 1875 per cent more than last week !;
66 per cont less than the first week Of
August, 1895.
The July bank clearines are larger than
any month since January, 1896. although
4. 4 per cent smaller than July year ego.
Compared with July 1904. there is gain
this year of 3. per cent. The olearings
for July aggregate o., BAT. $40 645, against
81, 265, 600, In june. For seyen months
the total clearing aggregate 500, 662, 1885,
25l, gain over last year of three tenths
of per cent, over 1894 of 1876 per cent.
The failures throughout the United
States this week number 269, an increase
of compared with the weeks total
year ago.
The stocks Of available wheat here, in
Canada, and af1oat for Europe are 81, 700, :
600 bushels, smaller than year ago. For
seven months this American and Cana
dian supplies have fallen away little
more than half what they did in 1895.