Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-08-27
DuN's REVIEW u |


d = r. 3 49, +
New York. Aug. Or. G. Dun &
Co.'S. weekly review OF trade. tomor-
row, will say: The volume OF business
reflected in exchanges at the princi.
pal clearing houses u IA per cent.
larger than last year. and 2e.8 per
cent. larger than in 1899, heretofore the
year OF largest business and highest
prosperity ever known. No tInfavor-
able change appears in the prospect OF
crops upon which the welfare OF the
country SO largely depehds,. nor is
there shown any want Of confidence
among American inventors. The
money market Is running smoothly.
WITHOUT any symptom OF danger and
the unusual delay OF Western demand
for crop moving only indicates the
enormous increase III available re-
sources carried In the banks OF that.
section
Comparisons as to foreign trade are
apt to mislead because imports. last
year. were extraordinary small after
the big rush to anticipate new duties
while exports were beginning to show
the phenomenal demand which made
the year quite the most remarkable in
our history. Hence the decrease OF Is
per cent from New York in August
thus far is not alarming. but sales OF
products yet to be forwarded are large,
and have stopped any advance in the
current rates of foreign exchange. Nor
is 1t at all disheartening that imports
ut New York for the month thus far
exceed last years by nearly $500. 900
Ia CT 1n.u, ~ 80
1896 by more than $4,000 ,00O
Wheat goes down. three cents for
the week. as IL there were no foreign
demand coming. 1t Is wise to remem-
Der that the foreign demand account
of last years shortage Is still tapping
over. while all reports show that for
eign crops are about the average.
The output Of iron and steel no long
er measures the demand, and the
stipulated stoppage OF furnaces In the
Shenango and Mahong valleys has
raised the price OF bessemer pig at
Pittsburg to $1O.5O and Of grey forge to
$685. At all points bars promise a
larger output than ever before, and
structural forms and plates are in
heavy demand. while the tin plate pro-
ducers have found themselves Obliged
to advance prices about 10 cents per
box and the sales are said to be very
heavy.
The circular offering mems Creedmoor
shoes at u per pair. instead Of $1.1O. is
only Significant because the makers were
very. recently declaring that they could
not sell at $l.10 without actual loss. Ship
ments have been larger than in any pre-
vious year. amounting to 362 2293 cases In
four weeks of August this year. against
S4S2SS last year and 36,s76 in 1895. much
the largest for this. month heretofore.
While leather is quite stiff notwithstand-
ing extremely light purchases by manu-
facturers. hides yielded little at Chi
cagO.
The probable reduction, in manufactur-
ing in the print cloth works, expected to
reach 100000 spindles shortly. does not
disturb the market for staple brown and
bleached goods. which Is unchanged. The
auction sale OF q. 0O0 pieces OF dress goods
by the Arlington Mills closes the week
with some disheartenment In that indus
try but perhaps gives II a chance to start
on firmer foundation.
Failures for the week have been 179 in
the United states, against 2s, last year,
and 26 In Canada. against "a. last year.
X. G. Dun & Co. will say OF Canadian
trade: The Canadian reports this week
give great promise of furture business,
though as yet not much greater activity.
Business continues moderate at st. John,
with fair activity in Halifax in dry goods,
but groceries are quiet The hay crop Is
heavy but unfavorable weather has inter-
fered with harvesting. The apple crop is
not up to early expectations.
At Quebec trade is ahead of last years,
At Montreal business is healthy. At To-
rontO business in groceries and canned
vegetables is good and fair in hardware
and hides. At Winnipeg harvesting oper-
atoms we'll advanced nd a 4
Is indicated. At Victoria there is no ma
terial change.
At Vancouver the building and lumber
business continues, active and jObbing
trade in the country is better. with local
retail trade rather quiet. The Frazer
river pack is 100000. about a quarter of
last years.