The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1897-09-25
GOLD COMING HERE.
Big Shipments of Precious Metal Started
From Europe.

New York, September PR. G. Dun
& Co. in their weekly review of trade to-
morrow will say:
Gold imports have begun direct from
England and from France, besides the ar
rival Of $4,000, 900 at San Francisco from
Australia for wheat exported. The gold
received there and started from Europe
amounts to $4,000, 900 in two days, and
the advance of it's rates by the Bank of
England to 2 12 per cent seems little
likely to check the movement, in view
of heavy merchandise. balance. due this
country and the rise in rate of interest
there. The August excess 'of merchan-
disc and specie exports over imports was
not far from $42, 900, 600, and the Septem-
Der excess will evidently be larger, unless
shipments of gold are considerable.
Produce markets have been uncertain,
closing fraction higher for both wheat
and corn, while the decline in cotton con-
tinues. With IA cents paid for spot at
the end of August, cotton has dropped
1-2c or 18 per cent in less than four
weeks in spite of a remarkable revival of
manufacture, Fever in some southern
districts has not been largely influential,
and the main factor has been general
impression that estimates are as mislead-
ing as they were when the yield was the
greatest on record.
The corn estimate most credited by the
trade is only ll,75o, 600, 900 bushels, but
is coupled with figures tending to show a
| surplus from the last crop of 10000, 00C
bushels over ordinary consumption.
We're this quite believed, the price
would not be rising, although exports
continue heavy, in three weeks 9,927, S4s
bushels, against 6,l5O,1S7 last year.
Wheat has gained q fraction for the week,
while Atlantic exports, flour included,
for three weeks, have been 10, 49S, 18l bush
els, against 6, 1S3.743 last year. Western
receipts are exceeding last years, and
| foreign estimates now agree in making
| the probable requirement. from this coun.
| try over 100, 900, 600 bushels greater thar
last year. The output of coke is now 1885,
| 900 tons, and the price Is also advanced.
Some branches of the iron and steel
| industry are clearly no longer able tC
keep up with their new orders. Others
are very fully employed for some months
ahead, and with the demand increasing.
The average of iron and steel products
advanced from the lowest point is s. z
per cent.
The dealing in hides continues with
liberal sales by Chicago packers, but
prices still average 1914 per cent above
SAAN 49,
leather is checked by an advance averag-
ing 9.4 per cent from the lowest, and shoe
manufactures are much embarrassed
about spring orders, though asking only
81 per cent above the lowest prices
this year. The belated demand
due to exhaustion of stocks
keep works so we'll employed that actual
shipments from Boston in September
are II per cent greater than in any previ.
Gus year. and 20 per cent greater than In
1892. Wool sales at Boston have decreased
quarter, but manufacturers are still
unable to find profits in goods with wool
at present prices. Reported sales of wool
are more than double those of the most
prosperous years, but the rise In prices
renders the future more doubtful, except
for manufacturers having heavy supplies
laid in. The cotton mills are doing a
large business, although recent buying
of goods has naturally decreased afte1
the recent rush.
Failures for the week have been 200 in
the United States against 315 last year,
and % in Canada, against 80 last year.