Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-08-21
NOT FOR YEARS
Have the Trade Reports Been
so Encouraging.
People Have Strong and Increasing
Confdencs in the Future.
Greatest Gain Mas Been ior Agriculture
-sissdisr Tsas 10 Business Generally.

Co. in their weekly review of trade
Will say: Not for several years have
the telegraphic reports from various
cities In all parts of the country been
as encouraging or shown as uniform
Improvement as this week.
The markets are called crazy by
some. but fairly represent the people
who see confidence in the future is
strong and increasing.
Nothing appears to check 1t. Ru-
mors OF injury to crops are not suffi-
GENTLY supported to have much in
fiuence. The one temporary hindranca
Is the strike Of bituminous coal miners,
which intelferes as yet little with In
dustries and seems likely to terminate
within a week.
The greatest gain has been for agri-
culture. Corn has advanced a little in
price. but is moving very largely. so
that the last years surplus may soon
be marketed unless the new crop turns
out better than many now expect.
Cotton declined an eighth because Of
an estimate promising the largest crop
ever grown, hut the goods market is
decidedly improving. and some Of the
large mills, after few weeks of sus-
pension, have resumed work. Other
farm products are doing well also, but
wheat has advanced about 11A cents
for the week on actual transactions,
with heavy purchases for export. The
official estimate of yield is entirely dis
regarded except as an admission that
the crop will be larger than that of
last year and 1t is commonly assumed
that the yield will be $50. 900, 600 bushels
or more, though recent reports of in
jury indicating the possibility Of a
somewhat smaller outcome have helped
the advance in prices. Western re-
ceipts for the week were 3,S44.554
bushels against 3,974,775 last year and
for three weeks 11,340,267 bushels
against 1863, 137 last year, while At
lantic exports are about double last
years. 3,7O5.2S7 bushels. against 1905
S47 last year and for three weeks s.
Sl9,31S, against 5,102.661 last year, flour
included for both years. 1t is well to
notice that corn exports continue more
than double last years, also, in three
weeks. S,l56.544 bushels, against 4.119.-
241 last year.
The iron and steel industry is push
ing forward in spite of the still I'M
settled strike of bituminous coal
miners and the enormous purchases Of
ore at Cleveland and also of billets at
Pittsburg, show the utmost confidence
in the future.
Many additional establishments have
begun work during the past week and
while no material change in prices has
occurred, the reports indicate fewer
concessions to secure business and a
much steadier tone. Tin is firmer with
full consumption, and there is larger
business in copper. several million
pounds having been taken for export,
raising the price of Lake to liz cents.
The old difficulty remains in the boot
and shoe industry, dealers being un-
willing to buy largely at the prices
which manufacturers now ask though
during the past week the only change
has been slight advance on calf boots.
The shipments from the East have
been the smallest for three weeks of
August in any year since 1893, but are
q little larger than in 1892. Leather is
held very stiffly, with great confidence
that the future demand will Justify
prices now asked. The market for
hides at Chicago is again much
stronger. prices having advanced with
very marrow transactions. and buyers
are holding Off in the belief that prices
have reached the top.
In the wooden business a constant in
crease appears in the number of estab-
lishments at work, and the demand for
goods has much increased. There is
some continued demand In prices To-.
staple articles. The sales of wool are
very large, amounting to 5000, sos |
pounds for the week. and $3.50, 3O5 for
three weeks. of which 26.155.35O were
domestic.
Failures for the week have been 223 |
in the United States against $50 last |
year, and 80 in Canada against q last |
year.