Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-01-08
DUN'S REPORT.
If Story Of Failures Tell anything
Read the Following.
You Certainly Can Find Nothing Discoursging
in This Business Report.

i'm their weekly review Of trade VIII
say: In failures, 1897. was not only thu
best year since 1892. but on the whole
the best ever definitely known With
1882 failures in number ll.5 per cent
less than 1896, and SIS, 5Sl,'1 defaulfed
liabilities, $40 per cent. less than in
1896. the years banking failures Gnu:.t
ed for $2s.249, 100, and the commercial
failures were but 1851, with liabilities
of S154 .332, 071. the average per failure
being only $1l,559, the lowest ever
known except in 1892.
The returns by branches Of business
show that in - out of y classes the
failures were lower than in any preVi
Gus year of which there IS record
with especially large decrease IN inc
great number of unclasslfied manufac-
turing and trading failures. Moreover
the wear showed remarkable decrease
as some other prosperous years have
shown increase, comparing the second
with the first half
Wheat declined IL cents. owing to
the termination of the corner al Chi
cago d Western, receipts We're about
double last years, with Atlantic eX-
ports 2.S40.3iS bushels. flour included
against 2.150. 500. last year a specula-
tive estimate makes the quantity still
in farmers hands 40 per cent. Of the
CROP. which is quite possible. but the
consumption and exports IN half the
year ought to take more than ~ per
cent Of the year supply. n fleet o.
vessels is reported at Baltimore. or on
rho Nrav thithe for wheat
Exports Of corn for the week fell
below last years. although Western
receipts are unusually large. and the
price fell but as OF cent. Cotton was
"A disappointment to many because II
did not change at all in spot price.
although the accounts Of reduction In
wages by New England works hope Of
larger consumption.
The cotton manufacture is a little On
couraged by larger demand for goods
since the reduction in prices, and the
abstention Of buyers for months pats
has probably been Glue in large meas
urcs to expectation Of that reduction
but with the certainty that the print
cloth works are TO continue. prices
have further declined to 212 cent?.
The wooden and worstcd mills are both
buying wool quite largely at prices
probably close 10 the best. for reports
which declared there were no conces-
sions q month ago are now rejoicing
that recent raggedness in prices has
passed away.
Behind all the market reports there
is the fact that consumption Of wool
has for about five months been the
largest ever known and the buying
indicates. as does the demand for such
heavy weight goods as have been open
ed that a satisfactory half year is ely
pected Prices so far paid are said
to be from % 10 30 per cent. higher
than year ago, with wool from 30 ,e
90 per cent higher, hut the demand j.
thus far encouraging.
The iron manufacturers further en-
Outraged ny unusual business for the
season, including a large building con
hract made and others for bridges
pending at Chicago, a sale of 50,0oe
tons Of pig to one pipe foundry AT the
East. and contracts for two vessels 1s
5000 tons each at Cramps yard and
contracts for 300 tons hoops at New
York. the 100 for Mexico.
Prices are generally unchanged. The
visible supply Of tin is 29,S55 tons
against 32.342. a year ago with Is
cents quoted. and with exports of 1896
tons of copper. in December and 123 =
600 tons for the year II cents is nov
quoted for lake. Shipments of boots
and shoes continue larger than in an!
previous year. showing a consumption
81, 4
jobhers are generally Withholding or
ders for the future at the advanced
prices asked. which range from 12i
cents per pair on brogans to $50 per
dozen on boots and as most orders have
been filled the works have little ahead.
Failures for the week have been 80
in the United States against Al. las;
year, and in Canada -, against o.,
last year.
Il. G. Dun & Co. on Canadian trade:
Canadian reports indicate as yet very
little regarding the future of business. rs
the usual after-holiday quiet has moi
passed. AT ST. John the business Of 1897
was good. particularly in lumber. prob
ably the best year since 1889. and the
prospects for 1898 are thought not so
good. though the general feeling j. conf
dent. Halifax reports retail business
quiet anu Stptk NdhlllS general. Wnlp
Wholesale houses are preparing For the
next seasons trade.
Wholesalers at Quebec have felt the
benefit of the holiday trade in the way of
remittanCeS. which are reported good
Retail trade ut Montreal seems rather
poor in dry goods. but country payments
We're well met and money is plentiful.
with discount rates unchanged. Toronto
reports wholesale trade quiet as usual at
this season. and January payments bet
ter than for several years. while railway
earnings show Il large increase over pre-
viouS years.
The week at Winnipeg has been quiet
in wholesale and retail trade but nav
mentS on the whole We're a fair ayera 90
AT Vancouver business continues good
and collections satisfactory. and at Vic
toria wholesale trade shows some i'm
provement and the outlook is encourag-
ing. while retail trade is in most lines
more active. with very fair collections
1t is announced in Roman Catholic cir
Giles that the reorganization of the Do
minicanS Orders Relatives in North
America has been perfected and that the
headquarters of the order has been
esta bished in Lewiston. with VERY Rev
Father Adam. the head of the local mon
astery, as provincial of North America
This is an important step. Heretofore
the headquarters Of this large and DOW
erful organization has been in Canada.
and Canadian priests had much influence