Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-08-07
BETTER DAYS
Are Forecasted by the Leading
Commercial Agencies.
The Increase Of Business Is General
Throughout United States.
And Every Indication Is Favorable Tor 70.
sumption Of Good Times.

New York, Aug. 6.-R. G. Dun & Co.'S
review, tomorrow. will say: Four years
ago, August s. 1893, the first number of
Dun's Review was issued, with fail
ures in that month amounting to over
s60,000.00, while in the month just closed
failures have been only Sill, 1877, the
smallest in any month since 1892. The
statement of failures by all classes of
business for July and for 4G months
shows that in manufacturing the fail
ures have been smaller than in any
| other month of the entire period, in
trading smaller than any other month
except one, and in many branches Of
each department smaller than in most
months of which records exist.
The pessimists who pronounced re-
ports of gain fictitious and misrepre-
sentinS have grown weary of their
dismals and begin to see the dawn of
better days. Last month was the first
for four years in which the volume Of
business reported by clearing houses
was larger than in the same month Of
1882 and the telegraphic dispatches from
all parts of the country given this
week. show a gratifying Improvement
This is partly due to a large yield Of
wheat and good prices though thescrop
is probably not so large nor the prices
thus far as high as in 1892 but of cot
ton the price is higher and the yield
probably larger than in that year.
Other farm products are realizing good
prices and the possible decrease in yield
of corn may help to market the enor-
nous surplus brought over from last
year. Liquidation of a powerful COM
bination in wheat brought reaction of
cents on Thursday. but gain of II.
cents occurred the following day.
1t is the wrong season to expect much
from industries and yet there has been
material increase in the number of
hands employed in the iron manu-
features because of the satisfactory
adjustment of wages disputes with the
Amalgamated Association and the
opening of numerous establishments
which have been waiting, while the
coal miners strikes seem each day
more likely to end in permanent set
Element beneficial to both parties
While consumption does not yet equal
the capacity of the works in operation.
and prices of iron and steel products
average slightly lower the situation is
altogether more hopeful.
The boot and shoe industry is steadily
gaining. with larger orders in spite of
the recent advance in prices and yet
the shipments from the East have been
the smallest in the corresponding
weeks for four out of five years. Sales
in advance of manufacture are fairly
large. Leather is not active and the
strength of country markets in hides
makes the Chicago quotations a shade
higher. The sales of wool, as COM
parative returns by the months show,
bear little relation to the actual con-
sumption in manufacture, but heavy
liquidation since the new tariff bill was
enacted gives the impression that some
dealers are no longer confident of a
speedy advance. Nevertheless, prices
have risen during the past few weeks
nearly l cent per pound. The tempo
rary curtailment of output by cotton
mills continues, but does not yet bring
improved prices for products. although
the demand is gradually gaining.
Failures for the week have been 237
in the United States against 240 last
year. and 20 in Canada against 81 last
year.