Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-12-11
MARKETS ARE STRONGER
Dun & Co. Find Many Encouraging
Features in Business Situation.
Better Demand for Many Lines Of Goods and
Large Decrease in Failures.

New York. Dec. 10.-R. q. Dun X
Co, in their weekly review of trade.
will say: The opening Of Congress.
with the annual message and repor:s
has not discouraged business as some
predicted. But all speculative markets
are stronger than a week ago. The
productive industries. even in the sea-
son usually about the dullest of the
year. as to orders. meet a definite i'm
provement in and from important pro
ducts, presumably the fruit of q pre-
vailing conviction that new business
will begin to crowd the works after tho
new year starts.
The sudden rise in December wheat
at Chicago. to $1.09 would do harm
were it not based on avowed contracts
to ship some millions Of bushels to
Europe. That fact, and the continued
foreign demand in spite of such con-
tracts, has helped a rise of IL cents
here. Western receipts for the week
were 5.798,li71 bushels. against $685.
last year. and Atlantic exports, in
Guiding -four. 4.3l2.131 against 2,I53,6
last year, and SO great is the foreign
shortage that the outgo of corn, last
again exceeded. 3,3l30S6 for the week.
against 3.055.1S0 a year ago. with TN"
price nearly cent higher than Last
week The report that Western sup
plies are running low is miscrcdited by
receipts from the West.
Cotton is sixteenth stronger in
spite of estimates ranging from 49, 10R,
0G0 to ii 900 bales by well-knoWil
authorities. A strike in English mills
is no longer threatened. and the pos
sibility of one at Fan River has til.
weight that the mills of that city an
nounce a reduction Of II per cent in
wages, and the strike threatened by
the workers may relieve the market
from over production.
But the difficulty is not temporary
one. 1t results from an increase of ma
chinery. North and South. exceeding the
demand for goods. The demand has been
more restricted by the idea that the fall
of over cents in cotton must bring about
a corresponding decline in goods. OF Which
quotations are but per cent. lower than
in July when cotton was selling at
cents
The demand for wooden goods has clear
" improved. and more wool has just been
purchased abroad and is being imported.
the sales in domestic markets having
been Tor the past week oHlA -u"."V'
pounds at Boston. and in two weeks. H.
$50. 400 pounds at the three markets. While
some grades have been sold at prices
lower than Il month ago, quotations are
generally maintained.
There is more demand for iron and steel
products in preparation for railway work.
bridges and buildings next year and on
contracts for export. including one for Il
government bridge in Holland and others
for bridges in Japan. with large snip
ments of various products to England ana
other countries for 10000 tons Of rails are
pending. 15G00 for Mexico.
a sale of Lake copper said TO be io.VW,
coo pounds a; II cents, SO strengthens the
demand that 1887 is bid, but tin and lead
are very dun and spelter IA shade lower
while future contracts for 'inpiates nave
been made al $3.50 per 100 pounds.
The shoe manufacture surpaSscS all rec
ordS in shipments. which nave beell III
five weeks % per cent. more than last
year And vet many of the shops nave
orders for some time ahead. A good many
have been placed at n small advance III
price but many more wltnneiu because
dealers will not pay prices asked. ihe
average of quotations is now only 81 pei
cent. higher than in 1892. with leather
averaging for most kinds 10 per cent |
higher and hides at Chicago averaging
81 per cent higher than I'VE years ago. |
REGENTS of cattle at the four Western
in II months this year have been
;. sos 54S head. which Is q per cent more
than last year. but I per cent. less than
in 1892
Failures in. the first week of December