Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-05-21
DUN'S REPORT.
Western Prosperity Is the
Great Business Feature.
So Great that It 0vercomes tn
Dizziness of the East
And Makes a Showing Of Large Increase
in the Total.

New York, May 20.-R. G. Dun & Co.
in their weekly review of trade will
say; Western prosperity has so
greatly overbalanccd the timidity Of
Eastern capital that the actual bust
ness done increases: railroad earning
promise better for May than a month
ago for April and payments through
clearing houses for the week in May
show gain Of $50 per cent. over last
year and rs per cent. over 1892, while
a month ago the increase over last
year was 1876 and compared with 1892
there was a decrease of 10 per cent
Several large contracts kept back for
some weeks because Of hostilities have
now been placed and instead of works
closing or reducing force, returns show
the starting Of some works long idle and
increase of force or of hours at others.
Government work occupies many estab
lishments, but it counts for little COM
pared with other demands.
The key Of the situation is the prosper
ItS VI liiH w est, HIiltu the dILoSttuCI TIL
preccdcntel marketing of breadstuns has
caused, with the prospect of good crops
to come. These prospects and actual re-
ceipts of wheat amounting 10 5,S1G IlG
bushels for the week, against 2 439 1863 last
year. with advances also in other grain
and cattle. have produced a demand for
rails, cars car materials fencing. agri-
cultural implements. boots and shoes ana
all textile goods which was not anticl-
pAted from Eastern indications.
Exports OF wheat 90 not diminish, but
in three weeks from Atlantic ports flour
included, have been 49,. 5s6 bushels,
against i.,7S.142 last year. and from Pa
ellie ports, l.l3S 123 bushels, against Gl0.G37
Last year. The price Of May wheat fcl
~ cents on Saturday, rose cents "a
Tuesday, ana closed ~ cents higher for|
the week.
The trade journals best informed about
different industries appear to be quite
within the truth In stating Of one Or an
other that actual consumption il greater
than 1t has ever been.
IN iron. notwiths landing the greatest
output ever known, the demand has
caused some advance in Bcssemer pig
with only slight decline in the price Of
Gray forge at pittsburg. but full quota
tations are obtained at Chicago ana Phil
adelnhia. ono contract for COCO IONS Of
armor plate for Great Britain has been
taken by works far inland with another
Of smaller quantity, showing that the ex-
port demand, in spite Of higher ocean
freights is not yet arrested.
Tin * sustained NJ
consumption and Lac copper at u cents
~ spice u American production amount
.ns - -2."l9 IONS for the month, 10 per
w.t. larger than last year, with a slight
"a rt@Se In the production of foreign
astnas.
TN textile works are doing rather bot-
'cr. even The cotton mills in spite Of their
reproductions for some OF large i'm
portance have recently started again and
print cloths are 1-l6 higher
Numerous WOODEN mills have been
pushed to new activity by government |
orters, ana prices for a few grades Of 4
goods are better. with a stronger tone in /
The market generally, although some
mills of Importance have stopped as their
orders for the season have run out
While sales Of wool are small 6$3S-9 4
pounds for the three weeks PAST. against 4
have ample stocks. although some are
obliged by government orders to seek in 4
tine market grades of wool which they
mad not expected to require.
Western demands for higher prices on 4
ordinary grades Of Wool appear mistaken Y
in view Of the decline Of l-6 of / per cent +
IN tho average Of an quotations for as |
nestle wool ny Coats Bros. Of Philadel-
The actual shipments of boots and |
shoes continue much in excess of ship I