Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-07-17
OuN's REPORT.
Every indication Is Shown Tor Better Con.
diiiOn Of Business.

New York July 16.-R G.. Dun &
Co. in their weekly review of trade
will say: Excepting the great coal
miners strike which may terminate at
any minute. there is scarcely a feature
of the business outlook which is not
encouraging, the season considered.
Crop prospects have been improved
by needed rains in some regions and
foreign advioes continue to promise
large demand. In many industries
particularly in building, there is more
activity than in any year since 1892
and the week has brought better de-
mand in boots and shoes and in WOOL
ems. while the movement of freight
mainly iron ore. through the Sault Ste
Marie canal, is the largest in its his
tory With the money markets IN
clouded, there is nothing in sight to
hinder rapid Improvement when I'M
certainty about legislation has been
removed, for the miners strike could
not last long if business and Industries
should become active.
The advance in wheat to ~ cents
was not due to the government esti-
mate, which was followed by a decline,
but to foreign advices and considerable
buying for export. Demand is already
felt from Australia, South Africa, Bra
I'll and even Argentina, while the
promise for European crops is not
considered bright. The disposition of
farmers to keep back wheat for higher
prices may affect the outward move
ment, but Atlantic exports during
July, flour included. have been 3,11o,-
4i3 bushels against 2,953,s17, last year,
although in the same weeks, 1859, 315
bushels of corn went out, against L.
575,o72 last year. Cotton is a 1-16th
higher, the closing or partial stoppage
of important New England mills
hardly neutralizing in market estima-
ton the apprehensions of injury from
drought
The cotton goods market does not
yet reduce large accumulated stocks
as the curtailment of production
shows. but is growing a little more
healthy without change in prices.
Woolens for the coming season have
not been generally shown, though on
some low priced goods advances of
u, per cent. are asked, and presum
ablywil be asked on the better grades.
There is rather more business in re-
orders and the tone is more confident.
Speculation in the wool market con-
tnues at prices at all points stronger
and at Boston advancing with signs
of boom among dealers, in which
manufacturers are taking little part,
at current prices, and AT the West,
where holders are looking for a great
advance. Imports at Boston We're u.s.
S62 bales in two weeks, and dealers are
Il hax no
in London Sales were 10, 452 300 bales
at the three markets for the week and
24572, 800 in two weeks, of which r.
607, 200 were domestic
The boot and shoe business is gain
ing and is now shipping more than in
either of five previous years because
a long delay of buying made shipments
in May and June smaller than in either
of those years. Though it is between
seasons and statesmen are starting out
to solicit orders for the next season,
purchases for speedy delivery have
much incre ased. especially in women 5
grain and buff and mems grain shoes.
brogans and heavy shoes, prices being
now paid which were recently refused,
Many shops have closed and many
others are just finishing orders, but a
good many yet have orders for some
weeks
Failures for the week have been
z63 in the United States against 269
last year and q in Canada against IS
last year
X &. Dun & Co. will say of Canadian
trade; There is on the whole no ma
'erial change in the business situation,
DIS none is To he expected during the
midsummer season. but there are indi-
cations OF decided improvement here
alter with some already realized At
OF John the lumber business shows
gam though there is not much move
iileht IN other staples. Collections con-
uiiue fairly good, though crop pros
pects are not very bright. Trade is
Seasonably quiet at Montreal, with re-
mi'tances somewhat slow and money
easy The banks have decided to re-
uuee the maximum rate of interest on
deposits 10 per cent. from Sept. /.
AT Toronto the business in dry good
N unusually large for the season, and
'here Is also Improvement in groceries.
teas ana canned goods and agricultural
implements are in better demand. The
Weeks trade compares favorably with
''iat OF past seasons in Winnipeg, in
spite Oh the midsummer season. In
wholesale trade at Victoria local bust
ness Is quiet, but the demand from out
sioe points is fair Retailers complain
VI uuiihess, and in dry goods the lead
ing houses are trying to force business
py clearance sales.