Daily Kennebec journal., 1898-07-09
Dun's REPORT.
War Having lis Effect on Business Some
Gain and Some Suffer.

New York, July S.-R. G. Dun & Co. s
weekly review Of trade, tomorrow, viii
say: The usual half yearly statement
sof failures by branches of business is
particularly interesting because it
shows that in spite of war and expec-
tations of war, failures occurring in the
second quarter are smaller than in the
same quarter in the past four years in
trading, and in manufacturing smaller
than in the same quarter of any yea:
excepting 1894
The fiscal year has ended with finan-
eial results a share beyond general ex-
pectations and the new war tax begins
to increase revenue, not seriously dis
turbing business in any line. Contin-
ued heavy exports indicate another
heavy balance OF $40,OOO,O0O or more to
be paid on merchandise account by
other countries to this for the month,
and yet the season is at hand when,
if ever, adverse balances are eX-
pected.
Criticism of corn estimates is the less
needful because the best authorities all
agree that supplies for the coming
year promise to greatly exceed home
requirements and full export demand.
Wheat has advanced from So to 80
cents for spot. Corn is rather serious
ly injured in some states, and yet on
the whole it looks We'll. The cotton
crop looks better and the prospect is
reflected in a decline of sixteenth IN
the spot price.
The manufacturing works at the
North are quite we'll employed and the
demand for goods is somewhat i'm
proving. Abroad, the state of the man.
ufacture does not encourage hopes of
an extraordinary demand for the raw
material while the stocks held by mil
lers are known to be unusually large.
The South is increasing the manufac-
ture rapidly, and not entirely in place
of Northern mills.
In other textile manufactures bus-
ness is good and growing in silks, bag
gng hemp products and linen. The
manufacture of wool hesitates, al
though distinctly better demand has
appeared during the past 10 days, De
cause prices at which Western wool is
held are too high for Eastern markets
and apparently too high for profitable
manufacture. THE markets are all
dull in spite of a fairly large demand
for territory and Australian wool in
blocks, but the manufacture are very
cautious in purchasing, although there
is every evidence Of great consuming
demand for goods which American
manufactures with reasonably chear
material, can supply.
The refusal of the boot and shoe job
bers to pay the small advances asked
on boots and shoes by manufacturers
causes some hesitation in new orders
for their products, although the more
successful esta blshments have orders
for some weeks ahead in most
branches.
1t is not enough to dismiss the iron
industry with the bold statement that
it is using up more iron, even at the
lowest point of the year, than ever be-
fore. 1t is getting bigger domestic
contracts for agricultural implements
sand car materials and also for struc-
tnral work.than in any previous year
b,tt especially for plates, the demand
for which quite overruns the capacity
of all the works and not mainly on gov.
ernment account Nevertheless the de-
manl has not pushed prices of mate
rial upward. :
Failures for the week have been %;
in the United States, against 206, las
year, and II in Canada, against 80, las
year.