Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-06-04
valIv Eernebec 3ournal.
DUN'S REPORT.
Fewer Failures in May Than il
Same Month Of Year.
All Branches OF Business Good. Especially
Iron and Steel Manufacturers.

New York June 3.-R. c. Dun \; Co.
in their weekly review of trade will
say: May having been the first full
month of actual war. the fact that
failures in that month We're smaller.
even though but little, than in the cor
responding month last year. and nearly
10 per cent. smaller than in May, 1896,
is somewhat encouraging the more be
cause a year ago the remarkable de-
crease i'll May gave proof of the heavy
improvement in business which made
the year 50 gratifying in general Ie-
suits. Details show thar large failures
were eight III manufacturing for s.
3S5G00 this year. against - for for
S. 965. 00U last year and in trading tive
for $500. coo against 10 for $1.512,G11 in
1891. Hesitation in extending usual
credits soon after war began. naturally
affected weak more than strong con-
ccrnS. Eut it soon gave place to steady
Increasing confidence.
Wheat dropDed = cents from the
highest point after the May deal cui-
minated and has since been weaker for
July because Of accounts promising an
enormous yield.
l!ut with $l.l5 still paid for No. red
in elevator, and a foreign demand TAX
ing 4,29449> bushels flour included
from Atlantic ports for the week
against 2,1G5,7S7 last year, and 3S5,439
from Pacific ports against 1929 last
year the decline evidently hastens the
marketing of surplus and gives The
new crop a better chance. 1t IS not
less surprising that Western receipts
for the week were 4 .263. $50 bushels
against 2099 80 last year although the
crop has been by some supposed al
most exhausted and corn receipts Wer@
also 1,0l649l bushels against 6.1l6,32"
last year. Exports of corn for the week
have been 1851 $50 bushels against H.
926 5GG last year and for the first time
in history exports of each grain have
about reached 200 00n 900 bushels i'll the
same year
OF all the great Industries. the cotton
manufacture only gives som" sign OF
ShiinEa&c, cotton having dropped LIS dur
ing tn" week after a rise in goods aver
aging for the month about l per cent;
mus rendering the market OF accumulated
stocks some what more difflcult ijGt pili
cloths have advanced and in most staple
goods the demand is improving. W ME
early estimates are always Questionable,
evidence does not Yet warrant predictions
81 i great decrease in The yield Of cotton,
ana few mills which have large guam
uurS Of goods unsold are now idle ana
waiting. Wooden mills are encouraged by
somewhat larger demand for goods. in
part from government orders. and are
averaging about / per cent. better prices
iuI goods than Il month ago.
mere Is not much demand Tor wool.
Which IS still held in the main above the
views OF manufacturers and prices have
ft''Iiled an average Of half Il cent tor the
month Evidently the magnitude of the
STOCKS held by the manufacturers Is stun
uiIi IFoghlzed by most dealers, ana West
pfn holders insisting upon much higher
prices Tor wool than can be obtained at
the Sedb0ard.
The demand for boots and shoes con-
tihutS heavy. for although 1,ISblM eases
nave been shipped, this year, from Bos-
ION against l.l4i .G01 in 1885. the largest
PrFNlpuS Year, according to the Shoe ana
Lt"thef Reporter. urgent demands are
COMING from jobb"rS in al parts o. the
country for deliveries, Two months ahead
VI toH'F'tct indicating DISRUPTION lar
NinIlef t!ldn had been expected.
ne IRON and steel manufactures lead
dll otherS in gain over previous years, the
consumption of pig being apparently more
man l,009,0p0 tons per month. or 22S,o90
1oilS eacn week, against 1lOlS0 tons per
cent.
Above all others in significance is the
mholiy unprecedented demand from a&ri-
cultural implement works, which throw
, ,h me shade all their past orders. Whl!e
ne plttc and raj! m3EGf3 cturerS are hedt-
i,,S az records partly with foreign ORDERS,
90" DIt Tor canada having been placed at
'iicago for 1000 tons
-, raIiurrS for the week have been ~ III
,nF United States. against I'll. last year.
ana l" IN Canaaa. against s., last year.