The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-01-04

OGner AearS-HrIces Are RullnS Higher
Generally-The Past Year Has Been a
Big One for Bank Clearings.
New York, January 3-Bradstreets
tomorrow will say: The week which
ended 1895, and ushered in 1896 has been
very dull in mercantile circles as is usual
at this period. The volume of business
has fallen away sharply, owing to the
New Years holiday and to the quiet in
trade circles at a time when stock taking
and preparing samples for commercial
travellers, is taking the attention of
jobbers and commission hones A slack
ening of activity in some of the import
ant manufacturing lines is likewise
noticeable and it is significant that tele-
grams from the South report collections
slow, or unsatisfactory. The exceptions
are at, few points in the Southern
States
Jobbers in the leading lines at many
centres, are confident as to the outlook
for trade in the near future. although in
some instances fears are expressed Of the
unfavorable effect due to the inability
20 secure necessary legis lation on
financial questions.
Advices from st. Louis are that the
total business last year was the largest
since 1892, and the total earnings there in
1895 were the largest on record. The
volume OF Chicago jobbing trade last year
was ten per cent larger than the year be-
fore and, the manufacturing output from
ten to fifteen per cent larger. Another
gratifying report is from Chattanooga,
that country merchants in the region
tributary to that city are on a firmer
financial basis than in previous years.
ON THE PACIFIC COAST
the lumber trade is vieing with that in.
wheat. Shipments of lumber from Port
land, Oregon to Mexico, Central America.
South America .have.been heavy and from
Tacoma In excess of all previous records.
General trade at Seattle last year was five
to twenty-five per cent larger than in
1894.
San Francisco kilograms show -four has
advanced fourteen cents and the orange
crop unfavorably affected by the frost,
while the farmers are anxious for rain.
The price movements have taken a
start upward for the first time in many
weeks, and large majority OF staples are
4uOucu AlS uoI blCtu " Wcch dtRO, uOui
wheat, corn, oats are all up, as are pork,
sugar, both raw and refined. petroleum,
both crude and refined, cotton wool (the
latter from one-half to one cent? and
hides, the latter having stiffened the
leather market. Quotations for lumber
and coal remain firm at the levels of the
preceding week, as do cotton goods !,
notably print cloths included, the price
of which has not enjoyed relatively the
advance shown by cotton. In addition to
the decline in coffee, pig iron and steel
are off 25 and 30 cents a ton, with quota
tions still in the buyers favor.
The prospect does
NOT FAVOR RELIEF
from existing weakness in the iron
market as the production is ahead of all
records, with an output of about one
million tons per month and stocks
accommodating. Some furnaces may have
to shut down soon, to relieve the pressure.
Exports of wheat (four included as
wheat) from both coasts of the United
States this week, are 1885,, 731 bushels,
compared with 8, 174, 900 in the week two
years ago. Foreign shipments of wheat
through the week are larger than those
for any previous week, since THAI ending
September 10, 1898. Exports of Indian
corn this week, which amount to 8, 227, 600
bushels, are exceptionally heavy, being
larger than those for any previous week
since that ending February 81. 1899.
The world's available wheat stock
January is less bullish than anticipated
amounting to nearly 40, 900, 600 bushels,
and about 10, 010 600 less than year ago !;
90, 600, 600 less than two years ago; 25, 000,-
600 less than three years ago, and more
than that held at the corresponding dates
in years previous to 1S93 Stocks of
wheat east of the Rocky Mountains,
United States and Canada, have in
creased more rapidly in December than
expected, while on the Pacific coast the
usual falling away took place. While the
stocks of wheat af1oat for and in Europe
on the first instant are a few million
bushels smaller than a month ago, they
are more than seven million larger than
year ago, although less than reported
January l in the three years next proceed
ing 1895.
DECEMBER BANK CLEARINGS
are the largest for any month of last
year, but one. being October, and furnish
a satisfactory closing chapter to year of
large gains in bank clearings. The bank
clearings at sixty cities for December,
aggregate S., 0s6, O56. 1877, gain of over
December of last year of 176 per cant, an
increase over December two years ago,
there is decrease of Is per cent. The
heaviest gains occur in the Middle and
the New England States, and are due to
speculative activity. The total clearings
OF sixty cities for 1895 aggregate SO, s23, :
639, 249. an inrease of 1873 per cent over
1894; decrease of only one per cent from
the total in 1898, and falling off of IA
per cent from 1892, the record year in
bank clearings.
AS usual at this season, there is a con-
siderable increase of number of failures
in the United States, tho total now re-
ported being 403 this week, against 373 in
the week year ago; 480 two years ago
and 318 three years ago.