Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-09-10
DUN'S REPORT.
Largest Volume Of General
Business Ever Reported.
American Bonds and Stocks Lead the
World il Transactions.


New York, Sept. Or. G. Dun
Cos. weekly review Of; trade, tomor-
row, will say:
The volume Of business is larger than
1t ever has been. Investors across the
water have caught the cue and thei,
purchases Of American bonds and
stocks have been heavy for several
weeks. Wheat has been about ] cent
higher in price for spot, with the West
ern receipts only about as large as
those of last year for the week
The latest estimates range from $685.
600 900 to 100000 600 bushels fore
shadowing a somewhat smaller crop
than was Indicated month ago, but
one large enough, nevertheless, to dis
tribute 100 600. 900 bushels for replenish-
ing the worlds depleted stocks, to
meet all domestic consumption and
probably foreign demand and still TO
leave sufficient surplus to depress the
market.
Corn is a shade higher. one estimate
promising only 1,75O000,000 bushels. The
cotton year has closed according to
the Financial Chronical with yield of
11,1S0.96O bales in 1897, of which 1916
0S5 were exported 1,S56,000 were con-
sumed in Northern mills, 2.227,999 in
Southern mills, and 420,079 We're added
to Northern mill stocks. and 9S.991 to
commercial stocks. The Chronicle
makes no calculation of the quantity
produced but not yet marketed, which
the New Orleans cotton exchange
reckons at 900 bales.
The European mill stocks. according
. to Mr.. Ellison. of 100000 bales, the
p American 499.775. the commercial
stocks here and abroad, 1874, 900 bales
and other allowances. leave on hand
for the coming year 3.031,00 bales
about as much as was estimated a
month ago, and indicate consumption
VA of 3.0S3939 bales in this country
against 2,S93,352 bales in the largest
previous year.
"a The Increase of A per cent. in South
ern consumption during the past three
years, with a decrease of nearly g.:
per cent. in Northern is significant.
Nobody can guess how great the de-
nand for iron and steel products may
DE a month hence. but the manufac-
,turers have the rare good sense to wait
for the actual orders before hosting
prices. 80 far the advance in. the
average of all finished products has
been only 3.3 per cent. from the lowest
price this year, while pig iron has
risen less than per cent.
AS most of the big works are crowd
ed months ahead. some of the demand
laps over to concerns less fully occu-
pied But in the near future, unless
appearances deceive, all works in oper-
cfinn will ,ha ia orb = I
there is reason to expect some increase
in output on the report of September
l. though a number of the furnaces in
the valley are still idle and likely to be
for some time.
Shipments of boots and shoes are
smaller for the first week of September
than in 1897 or 1896 but are larger
than in any previous week of the year
and to date have been larger than in
any year heretofore. Leather does not
yield as yet in quoted prices, though
in this case also the quotations may
not accurately represent the actual
transactions
The sales of wool have been only 2.
2S9.5OO pounds at the three chief mar
kets. against 1900, 400 pounds for the
same week last year and S.S12,0OO for
the same week in 1892 The feeling
grows that the prices demanded at the
West cannot be maintained, and until
wool sells at materially lower prices
the manufacturers cannot meet the
existing market for goods
Prices for goods do not change. and
considerable number of the mills will
shortly shut down unless the situation
improves. In the cotton manufacture
there is still a fairly strong demand
with print cloths and staple goods un-
changed in price but the stoppase Of
some Eastern mills continues.
Failures for the week have been lea
in the United States against 251 last
year ana 10 IN Canada, against 81 last
year.
MAINE pENCI0Nc