Daily Kennebec journal., 1897-10-09
DvN's REPORT.
Failures Less Bank BUolness BetteF-West.
era wheat Receipts Increase.

Failures LeSs-6Ank BuoInese 6ottoF-West.
era wheat Receipts Increase.
New York. Oct. S.-R. G. Dun & Cos.
weekly review Of trade will, tomorrow,
say: Failures were the smallest ever
known in any quarter since 1892, and
business payments through banks the
largest by $26S.0OO.OOO ever known in
September. The weeks exchanges are
S.S per cent. larger than in 1892.
Crop reporters now agree in putting
the yield Of wheat about 580,000,000 to
$50, 100000 bushels, which is nearly 200,-
100000 bushels more than will be re-
quired for home use. AS foreign reports
indicate a larger demand, and exports
since July / have been nearly as heavy
as IN the best past year, with 2,9S5,7S4
bushels from Atlantic ports, flour in
cluded, for the last week, against g.
24O,571, last year. the recovery Of ~
cents in price for the week is not with
out reason.
Western receipts continue to exceed
the last years, S.O01. .22O bushels, against
7,243,969 for the week. With this favor
able report of yield, the corn exports
AeS'A oACA~ cAAoAtiy Will a oiidiI
ence in price. Cotton is unchanged in
price with larger consuming demand.
though big crop estimates do not ap-
pear to be disputed. Railroad earnings
have been increasing each week in
September, compared with last year,
so that the aggregate of returns for the
month, 1913 per cent. larger than in
1896, are Is per cent. larger than in
1892.
Trunk lines show a gain of 4.3 per
cent. and Western roads a small loss
compared with that year. Chicago
eastbound tonnage for the quarter was
but 1 per cent smaller than in 1892,
and westbound freights have been un-
usually large.
A large increase in the production of
pig iron. with heavy realizing sales of
lots held on speculation. have caused
a decline of Is cents to $1,000 for besse-
mer at Pittsburg, though Grey forge
there has advanced 25 cents, and pig is
stronger at Chicago and Eastern mar
kets.
Wool has now reached an average of
2O37 cents per pound for 100 quotations
of domestic by Coates Bros. of Phila
delphia, showing a rise of s cents since
year ago, with a much heavier rise
on some qualities, but following an
average decline of II cents from March.
1898. Speculative sales still account
for most of the aggregate which has
been at the three chief markets 4,337,-
900 pounds for the week, of which s.
955,S90 We're domestic. but manufac-
turers are purchasing some wool for
mixture with the cheaper wool held for
some months past. The rise has so
greatly exceeded the advance in prices
of WOODEN goods that the mills nigh,
have to pause but for the very largS
stocks purchased in advance. Goods
are strong. with a further advance in
some grades, but in the aggregate thus
far not 20 per cent. from the lowest
point. against 60 per cent. advance
average price of wool.
Dealings in cotton goods are delayed
by weakness in raw cotton, but neither
print cloths nor other goods have de-
ciined since last week. and though the
mills are not quite fully employed. a
continued increase in consumption is
with reason expected. The disastrous
influence of the great rise in boots anC
shoes TO and in leather during the fall
of 1895 still checks dealings in these
products, and slow business has now
brought slight decline in the averag.
price of boots and shoes. and also In
prices of sole leather, while hides arc
again shade lower at Chicago.
Failures for the week are 212 in the
United States. against 296, last year
and 30 in Canada. against 46. last year
Reports of Canadian trade continu,
somewhat more favorable though tn,
change is still not uniform in differen;
sections. At Halifax, fall trade haS
commenced fairly well with good out
look. Improvement continues at Que
bee. and collections are fair, the sho,
manufacturers are busy and the lun
Der in the active. Montreal reports
healthy and gradually growing busi
ness with better collections, and al
advance in rates for call money to
per cent Toronto reports good whole
sale trade in some lines with satisfac-
tory collections and unchanged money
markets. At Winnepeg wholesale
trade continues beyond the average
and retail trade fairly active, with
wheat moving freely.
Bank exchanges indicate a volume
of business largely exceeding previous
years. AT Victoria trade conditions
continue favorable and good business is
reported byleading houses in dry goods
groceries and hardware, both wholesale
and retail, with fairly good collections.