Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-10-23
HEAVIEST BUYING EVER KNOWN.
And SUI the Crackers About Hard Times Keep
Up Their Dismal howls.

New York. Oct. PR. G. Dun & Co.
in their weekly review of trade will
say: After the heaviest buying ever
known in many branches during Sep
TENDER and the first half of October,
1t is both natural and desirable that a
more quiet period should give time for
testing the size and temper Of retail
trade and for distributing part Of the
enormous quantities bought. In tex
tile goods. the rush of orders went far
beyond all distributive demand in Au-
gust, and represented great replenish-
ment Of stocks, and the similar rush
for goods has been correspondingly
great in other lines during the past two
months. In iron and steel and in boots
and shoes there was actual danger of
a speculative imitation of prices such as
was seen in 1895, but it has been, ap-
parently for this season, by the solid
sense Of leading men who regard a
time Of comparative quiet as essential
to the coming and permanence of pros
perity in their lines. AS the buying for
replenishment is partly satisfied and
diminished. there is some decrease in
TIE volume of transactions, though at
luC odIlc lItlc tIC WOIhlUS 1OICC Hos
farther increased, the wages of labor
have been in numerous cases advanced,
especially in all wooden mills of Olney-
Vile, Rhode Island. where the rates of
1893 have been restored and the founda-
ton Is laid more broader every week
for larger buying and business here
after.
The iron industry waits, because
possible production for the year has
been practically ordered, while neither
buyers nor sellers regard contracts at
current prices for next years business
as quite safe. Bessemer pig is shade
weaker at $1O.4O and grey forge at $9.65
at Pittsburg, while billets are hard to
get at any price owing to the stoppage
of only two works of moderate size, so
much has the current demand come to
exceed production.
The coke output has risen to 145, 033
tons weekly, and is the largest known
for years. Anthracite coal is sold at
A.15 New York harbor or 20 cents be-
low the circular and conservative esti-
mates make the years output 10000, 900.
The severe decline in cotton to 6.12
cents from 8.25 cents, August 30, is due
to widespread confidence in large esti-
mates of yield. 1t is considered that
the prevalence of fever in Southern
cities has much decreased deliveries,
and has also greatly diminished South
ern speculation, which is at this season
a potent force in sustaining prices. A
natrual consequence of the decline in
cotton is the fall of print goods to the
lowest point in the history Of the mar
ket, 2.37 cents, and cotton goods gen.
orally are easy with limited sales of
staples.
All wooden goods are firm, but there
is no new business of note for spring
outside of dress goods. Sales of wool
have sharply decreased again at Bos-
ton, amounting to only 3,043, 900 pounds
against over 100000 pounds the last
week in September and the week there
was dullest since January Z. Some
large offerings were made to realize
profits before prices fell but quotations
remained unchanged for even at half
cent decline buyers were not disposed
to take hold.
The produce market acted with as lit
tie apparent reason as usual. Although
Atlantic exports of wheat were 1876, 6O7
bushels, flour included and for three
weeks of October 1OO39,9OS bushels,
against 7,742,214, last year, with West
ern receipts not 100000 bushels larger,
the price advanced 21a cents. Corn.
with smaller receipts and exports, bare
ly a quarter of last years, declined a
small fraction.
Failures for the week were 224 in the
United States, against 274 last year,
and 80 in Canada, against 60 last year.