Daily Kennebec journal., 1897-05-29
R. G. DUN & cos. REPORT.
We Are Doing Moro Business Than We Real
ize on Account OF Low Values.


in their weekly review of trade will
ray: People are actually doing more
business than they realize. They
reckon by values. but these are much
lower than in any previous year of
prosperity and leave the margin for
profits. In quantity there is almost as
much business being done as in the
years of greatest prosperity and though
the increase in population would cali
for material expansion. the compari-
son is not discomaging. The recovery
is slow, hesitating and gradual but
mere has been done on the whole in
May than in April, while returns in
April showed the volume of business
eniy 10 per cent. smaller than that of
he best year heretofore. Yet hesfta
iiCn is doing its work every week and
lnultitudes are waiting because of pos
..btlities at Washington which ought to
be swelling the demand for labor and
the products of labor.
Events have proved that the crop of
wheat going out is much larger than
cny of the markets expected and West
Crn receipts for the week We're SO per
cent larger than last year, while At
ilntic exports have been for four weeks,
c,3l5,329 bushels Of flour included,
against 4.9SS,7771 last year. At this
season actual receipts count rather than
predictions. and the truth is that the
country has exported an extraordinary
quantity of wheat and flour and yet has
50 much to spare that the May option
las declined nearly cent for the week.
Besides, the outgo of corn, largely taxi
ing the place of wheat in foreign con-
sumption is far beyond precedent or
expectation and for four weeks has
been $3.50, 091 against 6,00f 1856 last year
With liberal interior supplies. the price
has declined fraction. Cotton is un-
changed although at this season ex-
ports are Insignificant.
Manufacturers have especial causes
Of delay, owing to the possible competi-
ton with foreign goods largely inn
ported, but there has been no set back
in prices, although cotton goods are
dull without large demand and print
cloths are at the bottom price. 1t is
evident that production far beyond the
consuming demand has forced the in
dustry into a waiting attitude. Dis
trihution Of all dry goods is at present
retarded more by cooler weather than
is usual at this season. The wooden
mills are producing more than they
have done for years, though much less
than they could or would like to pro-
duce and manufacturers are doing al
most nothing in the wool market,
though speculation has kept the sales
large in four weeks of May, 2S.S05. 500
pounds against 20.15a.350 in the cor,
weeks of 1892
There is some weakness observable
with Western holders, and Eastern
priyes begin to feel the weight of enor-
nous imports, although holders still
calculate ON rise as soon as new duties
take effect. The. iron manufacture
gains in spite of the closing of some
furnaces. Cotton ties at so cents per
bundle have quite shut out foreign
Tin and copper areI
stronger, but the tin plate makers have
agreed upon an advance, and yet the |
best grade sells as before at $3.50 ,
against $3.50 for foreign. Sales Of boots !
and shoes are smaller in May than in
any years since 1892. and shipments
from Boston have been 264, 3337 cases
a against 303, 557 last year and 322, 2333 in
1895, but makers who have made con- (,
in price have orders for months
ahead. Leather is weaker in tone with |
cut much change in nominal quota !
items, While hides have been raised by !
packers at Chicago nearly as high as .
they were last February. ;
Failures for the week have been 21i
in the United States, the smallest in
any week since September, 1895.
against 239 last year and % in Canada
against 20 last year.
r. G. Dun & Co. will say of the Cana
dian trade: Canadian trade does not
show any improvement. Unfavorable
weather delays seeding in the Halifax
region and there is not much activity !,
through collections have somewhat i'm
proved. Business is not active nor are
good at Montreal. though
the holidays have interrupted. The