Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-09-03
4ailp 1iennebec 3o,as,aL
ov.'s aEPoRr.
Phsnominal Decrease Ii Failures and Enceur
aging Increase in Business.

say: The smallest failures ever recorded
in any month for five years were those of
August. The enormous volume of busi-
ness in month usually one of the most
inactive of tine year demands attention.
PostpOnement during the months of the
war of some contracts and purchases
which have now come forward explains
part of the increase, and the strong alb
sorption of securities explains part, but
there has also been a great decline in the
average Of prices for all commodities.
There is no room to doubt that the
wheat crop, even though it may fall a
shade below some estimates. will prove
the largest ever harvested. Foreign buy
ing has been strong, SO that Atlantic ex-
ports for the week have been 3326.S7S
bushels. against 5.534,75S last year, and
Pacific exports 45S991, against 25S.651 last
year. But receipts at the West are in
creasing and the price has dropped cents
for spot.
Corn has fallen a fraction, later reports
indicating a less satisfactory yield. The
advance of Lis in cotton to 5.S1 cents has
followed a little better milling demand,
with rather less favorable reports of
the probable yield. but the crop is at the
worst likely to exceed the worlds needs.
The New Orleans Exchange makes the
output for the past year 11.199.994 bales,
and Southern consumption 1.192,621 bales.
The improvement in the iron industry
has not only continued. but becomes
more impressive because, after enormous
buying of materials has satisfied the
needs of great consumers for months to
come, the demand for products is so
great that both materials and products
gradually advance in price.
Bessemer pig has risen to $10.o5 at Pitts
burg, local coke at Chicago and anthra-
cite foundry at the East are strong. and
also bars and plates advance a shade
with most structural and plate mills
filled with orders for months to come and
5000 tons of rails sold at Chicago. for
delivery next year. The Iron Age seems
to have reason sfor saying: mot in 20
years has the outlook been as hopeful
The advance in tin plates, in spite of
production far greater than was thoug-..
possible not long ago. is evidence that
CONSUMPTION of steel in that branch will
be heavy. The wire nail works also re-
port better demand.
The shipment of boots and shoes from
the East in August have been larger than
in any previous year. 449. ACE cases in five
weeks. against AS, 422 in 1895. when the
output to Sept l had been $4,000 cases
smaller than this year. and the August
movement exceeds by 41,000 cases or 10
per cent. that of 1892
Leather is dull. without change in
prices. and hides at Chicago are a shade
weaker. The wooden mills have rather
better orders this week, but not enough
as yet to warrant running nearly full
force. with the price of wool held at the
West much above Eastern markets, and
by those markets about cent higher
than the mills are bidding. In cotton
manufacture there is better demand.
with Lie rise in print cloths though
brown sheetings are a shade lower the
demand for other goods being still fairly
strong
Exports have begun to increase and for
the week exceed last years by 81, 1886, OOO
or n per cent. while imports were smaller
than last year by $34S,OOO, or per cent.
In view of the extraordinary magnitude
of exports and reduction of imports a
year ago, the figures indicate a large bal
ance in favor of this country.
Failures for the week have been III in
the United States, against 1871 last year,
and q in Canada. against % last year.
r. G. Dun 4 Co.. in their review, to-
morrow. will say of Canadian trade: Re-
ports of Canadian business. this week.
show no change of Importance. There is
gradual improvement at most points. and
the general tenor of the advices is favor
able. While lumber shipments at st. John
continue, there is little improvement in
the grocery and provision trade though
none in dry goods. with the hardware