Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-01-29
BETTER INCREASE
Though Somewhat Lower
Prices Than Was Expected.
Clearing House Dealings and Railroad
Earnings Show Phenomenal Gains.
Extraordinary Movement in Wheat-Shoe Ship
ments Large Other Increases.

New York, Jan. 2S.--R. G. Dun & Co.
in their weekly review oftrade will say
The first month of the new year has
brought rather more increase in bust
ness but less improvement in prices
than was expected. With payments
through clearing houses 7.3 per cent.
larger than in 1892, the largest ever
known in any month with railroad
earnings ll.2 per cent. larger than the
best of past years, the fact that prices
are very low only shows more clearly
the increase in quantities of products
sold
Nor is there any disposition to refuse
orders, even at present prices; indeed,
the competition of manufacturers seek
ing orders alone prevents Il rise. Most
of them have all they can manage.
many working night and day. and one
great steel concern running on Sun
days, but the works not yet filled with
orders are seeking contracts at as low
prices as have ever been made. midi
eating that even these are not entirely
Improbable.
The settlement of wages on a 10 per
cent. advance. April l. for 100000 coal
miners Of the Central region, With other
changes, will tend toward a larger de-
mand for products of all kinds, though
also toward some increase in cost Of
manufacture.
Wheat has been conspicuous. rising
FIVE cents for the week. with 5H cents
for May options. Western receipts have
been o,009, 053 bushels in four weeks,
against 6,045, ~ last year but Atlantic
exports have been l2,063S2S bushels in
four weeks. against 1,lo3.G74, last year,
and Pacific exports, without Tacoma.
this week, 4.05l 1S3 bushels. against 3,
45i 991, last year. 50 heavy an outgo
with wheat over 81 per buSh"l. and
with corn exports for the four weeks
oQualiing the extraordinary movement
of last year. disclCses the strength of
foreign demand even better than cur
rent accounts Of disappointing ship
ments from Argentina and poor pros
poets in Russia.
Cotton has risen a sixteenth. not
withstanding the strikes in Eastern
mills and the official report of a de
crease Of 1913 per cent. in British eX
ports of cotton goods last year. The
cotton manufacture is more difficult
tlIill SIiN NAAifi i-'N isi'i -tF ~ - 'ft'..f
prices do not much improve. nor as yet
the demand for goods. though hoth are
helped by The closing Of many mills.
out largely because the manufacturers
and orkers have considered too little
the rapidly growing production 1T the
South. OF late, ALSO. th- rlpor, de-
1nAnd tu goods haas ha#o rest tcled.
though much loss than he demand for
British goods.
Tha wooden mdnGlActu er is DOING
well FINE 1Nulstrd goods having opened
at an advance If -p per cent. ovr! last
year. ana the ,al@n mills are con-
.stantlv buying WOOL even at current
high prices. which implies great cln-
fidencc in the future, presumably based
on larger orders than are publicly re-
ported. such purchases of wool have
been frequent Of late, even by mills
supposed Ia he supplied far ahead. and
one Providence mill appears TO have
taken 30 900 pounds WoTStod wool at
Wheeling. this week. Sales at three
chief markets, have been S0Sl.loo
uonnds and for four weeks 80. i2l go, of
which q .3G7 ..2o were domestic, against
as5i7 500 last year OF which ., 391 300
vert tibllifHit'
Shipments o: boots and shoes in
January have been $3.50 cases. - per
cent larger than last year, nearly l.
per cent larger than in 1898, and ~ per
cent larger than in 1892. While all ac-
counts make new orders small the
shops are not only putting out guam
,ities beyond all precedent but are
also buying leather in great quantities
for future use. As nobody can be found
VINO has paid higher prices than those
quoted for boots and shoes, il is in
ferred that large future operations are
based on such quotations. Leather is
higher Cor glove grain and buff. and
hides slightly higher at Chicago.
The iron manufacture is getting
larger orders for finished products.
which crowd many works almost be
yond their capacity. although some
others are still in the market and keep
ing prices down.
Failures for the week have been 81
in The United States. against 33l. last
year. and "a in Canada. against 81 last
year.