Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-02-27
sRAos1see1's REPORT.
Looks Like Better TINES Coming Features 81
the Weekly Bulletin. #

New York. Feb. i26.--Bratlstfcets lonor-
row, VIII say: The placing OF orders for
nearly l.oOpOO tons of steel within the
past three weeks is the most important
influence foriimptovemcnt in the general
trade since the November election. A
good share of these orders Is for blooms
ana Dillets. inasmuch as the bulk OF them
~ placed with the more modern among
the larger steel mills. The latter find
themselves well supplied with work for
months to come The bessemcr pig iron
ana steel billet markets have been fully
influenced and arc firm, with moderate
advances on heavy sales. The contracts
Tor steel rails taken since the break In
price. together with the expenditure
necessary to lay the rails. means the
placing In circulation of no less than s35-
"WWV. The meaning of sales Of rails for
export has been exaggerated. as some or
ders placed abroad were due to English
mills being temporarily engaged on other
forms OF steel. Tile rush for rails APP
pears ABOUT over, and the outlook is for
higher prices. The consumption Of bcs-
semer pig iron Is In excess of the pro-
duction of wire and wire nail mills are
running on full time. Many wooden mills
in New England have started. The manu-
facturcrs are buying In expectation of Il
duty being placed on raw wool. The recent
Improvement in cotton goods Is main
tanned.
AT most of the cities there has been no
change In the volume or temper of trade.
The demand has been quiet and while
the expectations favor an early improve
ment. the progress thus far has been
somewhat disappointing. The most
marked gains are at Chicago and st.
Louis where visiting merchants made
relatively heavy purchases of dry goods.
clothing and groceries. JObbers at Cleve
land. Cincinnati. Milwaukee and Louisville
in some instances regard the outlook as
more favorable. The unfavOrable weather
on the South Atlantic coast and ut the
Northwest has interrupted business and
| reports from Galveston and Nashville are
| that the mOVampnf of merchandise has
been disappointing.
The surprising weakness in the price
of wheat corrObates the earlier express
sions of opinion that the size of the do
| nestle wheat crop in 1896 Is understated
| in the government report. With the to-
tai weekly exports of wheat flour in
cludedD continuing to show a falling off
of quarter to one-third, notwithst stand
| ing the reduction in price, the worlds
estimate of the supply and demand of
wheat evidently favors the purchaser
more than any previous time in the cur
rent cerial year.
The price movement is more favorable.
| with advances for hides and in some in
stances for shoes. bessemer pig iron.
steel biletts cotton. Indian corn oats.
cheese and turpentine. Leather remains
firm at the recent advance. and lumber.
southern pig iron. bar iron. steel rails.
rosin, rice. wheat -four. sugar and cof-
fee are practically unchanged
The holiday Monday restricted the
volume of bank clearings are more than
the corresponding holiday a year ago.
which occurred Saturday. half holiday.
The weeks volume of cearngs is sISs,
400. 055. IL per cent less than last week
but II per cent. less than the like week
one, year ago.
The railway earnings continue to i'm
prove. The total gross earnings of 80
leading railroads for the third week of
February show a gain OF SO per cent over
the corresponding period of last year.
The exports of wheat (flour included as
wheat from both coasts of the United
States. this week Zone holiday and St.
John. n. b.. have fallen off sharply. the
total amount being 1.S72.2l6 bushels the
smallest like total since last weei, in
April. 1896 compared with 2,2O6. 900 in the
last week of February. 1896. The exports
of Indian corn We're 414i.000 bushels. this
week. compared with 3l5S,O00 i'm the like
week. last year. The total exports of In
dian corn during February aggregate APP
proximately 20. 100. 600 bushels. the largest
monthly total of corn exports in the his
tory of the trade.
There are 25S failures reported through
out the United States this week. COM
pared with 211 in the week one year ago.