Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-07-24
Daily Eenuehtf aouraal.
R. G. DUN's REPORT.
business Is Only Awaiting Settlement Of Tariff
Question to Boom.

New York, July Err. G.. Dun q Co.,
IN their weekly review of trade will
cav. The end of uncertainty regarding
dnties on imports gives greater conf
aence alike to those who have opposed
and those who have favored the change
The remarkable rise in wheat is based
,bat foreign demands will be large. To
those must be added another element
~ confidence scarcely observed a week
apo. The heavy increase in receipts of
eold whether from one side of the
Alaska border or the other, swells de-
nosits at the minis and in the banks
If this country and if the yield from
new regions answers current expecta-
tions. may have an influence akin to
that of gold discoveries in California
The one retaEdng force. the strike of
coal miners. has caused closing of "a
few manufacturing works fer want of
fnel. but negotiations for settlement
are still pushed with hope.
The wheat market is the sensation of
the month. Since July >. the price had
risen Y cents, by Wednesday, when a
reaction of cents was not surprising
but the close was II cents higher for
the week 1t is notable that this rise
came in the face of highly encouraging
crop news which is not disputed and
had for support nothing but foreign
conditions and demand. Actual buying
for export has at times been heavy and
loading Of cargoes here and in Cali
fornia for countries which usually con-
tribute to European supply greatly
Strengthens the impression produced
bv continental reports. That there is
speculative handling behing the great
advance is evident and the buying for
export has not yet resulted in Atlantic
exports quite as large as last July to
date. 46314 40 bushels, Hour included,
against 4,96i.14 last year. Corn ex-
ports are still heavy. $685.. 1896 bushels in
July against 2,42l,999 last year, which
perhaps reflects more certainty than
the wheat movement the actual con-
ditions abroad. Both because of the
season and because of pending action
on the tariff. industrial operations are
waiting, and yet with an Improvement
which under such circumstances is sig
nificant.
Minor metals are in better demand.
I'm III loJ0 anu icau 1T o.i1 cents anu
copper is sustained at 1ik for lake by
exports. There is IA general advance in
boots and shoes, averaging about lls
per cent with a larger demand as deal
ers lose hope of lower prices. but
leather is unchanged and hides at Chi
cago average per cent. lower.
The textile Industries have lost no
ground as the curtailment of produe-
ton in cotton for a time is really a
gain The demand has somewhat in
creased, but the accumulated stocks of
goods must be reduced before impa-
thence to buy can be expected. The de-
mand for woolens increases as to Low
and medium grades with reported
large sales at advance of to 10 per
cent over last spring Speculative
sales Of wool continue large and prices
are very strong especially at the West.
Failures for the week have been 22T
in the United States against 21S. last
year and Is in Canada against 20 last
year.
II. G. Dun & Co will say of Canadian
trade: No important change appears
in. the course of business in Canada.
although at important points business
continues 10 improve ana crop outlook
is generally favorable while money
markets are undisturbed.
AT st. John business continues quiet
especially at retail, Quebec notes the
usual midsummer dizziness, but reports
that growing crops in the surrounding
district are promising and that collec-
lions are fair.
At Montreal business is seasonably
moderate in amount and collections are
reported a little better in come quar-
ters. Money is abundant and easy AZ
49, to per cent. on call.
Improvement continues at Toronto
aud a large autumn and winter trade
is looked for as the crop outlook is en-
couaging. Remittances are improv-
ing.