Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-11-06
STRONG PROOF
Of Revival of Business Shown
in Decreased Failures.
Aggregate Of Liabilities for October
Less Than for Four Years.
In Addition Thereto Business on All Hands
Is Picking Up.

weekly review of trade will say in Its
issue of tomorrow: Stronger proof OF
the great change in the condition or
business could not be given than is
found in the detailed report of failures
by branches of business for the month
Of October. Though swelled by few
large speculative or brokerage failures.
the aggregate was smaller than in any
other month for more than four years.
except in July and August and one
| month in 1894.
The manufacturing and trading fail
ures were $7,S23,199 against $3.50. 81 in
September, and 81, $50, 1875 in August, in
clude one for 81, O00, 900, having no rela-
| tive to the present state of business.
During the four years iron manufac-
turing failures have not been smaller
except in one month, wool manufactur-
ing except in two months, leather and
shoes and unclassified manufacturing
except in four months, and cotton
manufacturing except in six months
OF trading classes. failures have never
been smaller in groceries. jewelry and
books except in one month: clothing and
furniture and unclassfied trading except
in two months. and 10 manufacturing and
ii trading classes out of IA, each have
never reported smaller failures in a third
of the past IS months. Improvement so
general. with a remarkably low average
of liabilities in most classes. has a mean
ing which cannot be mistaken.
The quiet following the great rush of
orders and purchases for over two months
is still increased in many branches by un-
seasonably mild weather. and yet the
mills are Obliged to refuse many orders
because unable to finish previous engage
ments soon enough. 1t is in every way
fortunate for the industries and the
wOuld-be buyers. since speculative pur-
chases would otherwise advance prices
so fast as to make reaction probable.
More works have Joined the active list
including some long idle. and the produc-
ton in iron manufacture is the greatest
ever known. The output of pig iron again
exceeds the demand, which naturally
diminishes near the close of the year. and
prices yield slightly but the consumption
is kept at the minimum by pressure of or
fast enough.
Shipments of boots and shoes for the
week were 5000 cases larger than in the
same week of any previous year. and &c.
900 larger tnan in 1892. and orders for VIM
ter goods still keep the shops busy.
Prices are but shade lower for shoes
and leather, while hides are slightly
stronger.
Cotton manufacture is doubly hindered
by decline in cotton and by assumption of
goods with slow distribution. so that print
cloths have fallen to 2.3l cents. new low
record and staple goods are sold at con-
cessions. all averaging not per cent.
above the lowest point. In wooden goods
the advance has been arrested by doubts
about the future market for goods and the
cost of wool. which has advanced slight
ly for October. though heavy sales to
take profits are reported. few at Boston
covering 10000 pounds. this week.
The mills have all they can do for some |
time, and the opening of the next season
may be deferred until the future can be |
more accurately judged. No yielding in
prices appears. and speculative purchases !
would doubtless be large If the mills were |
prepared for contracts far ahead. Cold |
weather is greatly needed to hasten dis |
tribution of textile goods and to provide |
indications of the future demand.
Another rise in wheat lifted the price |
above 81. but profit taking speedily |
caused reaction. and the price closed 21a |
cents lower for the week. Receipts were
about 100000 bushels larger than last |
year. and Atlantic exports. flour included, |
were 3.2S. $50 bushels against 1,S62 .533. last |
year. Cotton has not lifted above 6 cents. |
and the accumulation and declining prices |
of goods. with the somewhat increased |
prospect of extensive stoppage of Eng
fish mills, causes less speculation than
usual.
Failures for the week have been 276 in
the United States against 230. last year,
and 30 in Canada against 80, last year.
Canadian business has been somewhat
improved by more seasonable weather in
retail trade at Quebec. though less active
at Vancouver, and collections are fair at |
Halifax and Victoria. good at Toronto.
Winnipeg and Vancouver. somewhat inn
proved at Quebec and Montreal. With
out especial features. business continues
fair at st. John. and there is the usual
fall activity in shipping of apples and
other produce at Halifax, although the
fish market has not gained. Montreal re-
ports trade satisfactory, with heavy goods
moving quite briskly, as winter rates will
go into effect on the 18th. At Toronto,
wholesale business is very satisfactory in
groceries, hardware and the others. with
fair sorting-up orders in fancy goods and
hosiery.
At Winnipeg wholesale orders from the
country are steady for staple goods and
clearings indicate larger volume of bus
mess than any previous week. Retail
trade at Victoria excepting in boots and
shoes, is less active and Wholesale trade
is quiet in groceries. dry goods and hard
ware. but October business on the whole
exceeds last years. Trade in all lines is
good at Vancouver with most
encouraging prospects.
the LANCASTER ARRIVES.