Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-09-25
puN's REPORT.
Gold Imports Coming from Ensland-Produes
s Aaarkets Uncertain Tor Last Week.

| New York, Sept. PAR. G. Dun 4 Co
in their weekly review of trade. to-
morrow, will say: Gold imports hav'
begun direct from England and from
France, besides the arrival Of $4,0Oo,Oo'
| at San Francisco from Australia fol
wheat exported. The gold received
| there and started from Europe amounts
to $4,000, 900 in two days, and the bal
| ance of it's rates by the bank of Eng
| land to 2h per cent. seems little likely
| to check the movement, in view VI
| heavy merchandise balances due this
| country and the rise in rate of interest
here. The August excess Of merchan-
disc and specie exports over imports
vas not far from $42,00O,C00 and the
September excess will evidently ne
larger unless shipments of gold are
considerable.
Produce markets have been uncer-
tain, closing a fraction higher for both
wheat and corn, While the decline IN
cotton continues. With 81 cents paid
for spot at the end of August. cotton
has dropped IL cents, at 10 per cent.
in less than four weeks, in spite of
remarkable revival of manufacture.
IL
been largely influential and the main
factor has been general impression
that estimates are as misleading Us
they were when the yield was the grea.-
est on record.
The corn estimate most credited by the
trade is only !, $50. coo, 600 bushels but Is
coupled with figures tending to SHOW a
surplus from the last crop OF 4OO, OVO
bushels over ordinary consumption. Were
this quite believed, the price would not
be rising, although exports continue
heavy, in three weeks $40 bushels.
against 6l50,1S7 last year Wheat has
gained fraction for the week, while At
lantic exports. flour included, for three
weeks have been II. 49S. ISL bushels, against
exceeding last years. and foreign esti-
mates now agree in making the probable
requirement from this country over lou, :
600 900 bushels greater than last year.
The output of coke is l23.OOO tons. and
the price is also advanced. Some branches
of the iron and steel industry are clearly
no longer able to keep up with their new
orders. Others are very fully employed
for some months ahead, and with the de-
mand increasing. The average of iron
and steel products advance from the
lowest point is 50 per cent.
The decline in hides continues with lib
eral sales by Chicago packers, but prices
still average 264 per cent. above the low
is checked by an advance averaging "a
per cent. from the lowest, and shoe man
ufacturers are much embarrassed about
spring orders. though asking only 81 per
cent. above the lowest prices this year.
The belated demand due to exhaustion
of stocks keeps works so well employed
that actual shipments from Boston in
September are II per cent. greater than
in any previous year. and 70 per cent.
greater than in 1892. Wool sales at Bos-
ton have decreased quarter. but the
manufacturers are still unable to find
profits in goods with wool at present
prices. Reported sales of wool are more
than double those of the most prosperous
years, but the rise in prices renders the
future more doubtful except for manu-
facturerS having heavy supplies laid in.
The cotton mills are doing a large bust
ness. although recent buying of goods has
naturally decreased after the recent rush.
Failures for the week have been 2O9 in
the United States. against 3l5 last year.
and % in Canada. against 80 last year.
Canadians reports this week. are on the
whole more favorable. General improve
ment seems to be in progress. although
with much modification in different Sec
TONS Thus St. John reports business
fair. although lumber prospects are not
so good. At Halifax clearance sales in
hats and caps. dry goods and hardware.
interfere with general retail business, but
wholesale business continues fair, as
country dealers are buying more freely
and collections are about up to the av
erage 'l'''
At Quebec trade is about the same. with
collections fair. Advices at Montreal are
still encouraging, the general demand
shows Improvement and remittances are
more free. Money is in plentiful supply
at 31a per cent. on call loans. Toronto re-
ports no especial change payments being
still satisfactory. The volume of trade
at Winnipeg is very large, with satisfac
tory conditions.
Improvement in groceries over previous
weeks of this month is noticed at Victo-
ria. but the dry goods trade still drags
Wholesale and retail trade so far this
year are somewhat ahead of the same
period last year. and payments are fairly
good. Vancouver reports little less bus
mess at wholesale. and retail business
quieter, but indications are favorable for
fall trade, and collections continue salts
factory.