Daily Kennebec journal., 1898-12-03
DUN'S REPORT.
Striking Decrease in the Num-
ber Of Business Reverses.
~
Cost Of Shoes Constantly Decreases
The Consumption Increases.
Wheat Market Weaker Cotton Goes Up and
Cloth Market improves.

Cos. weekly review Of trade, tomor-
| row, will say: The report of failures
| for the month of November is ex-
tremely gratifying because it shows a
striking improvement both in the
small and in the large failures and in
nearly all classes of Industry and
| trade.
Nobody can estimate the gain for
the iron and steel industry which will
result from the past weeks transac-
tions in steel rails which are said to
exceed 100000 tons.
The makers have failed to agree and
to complete the consolidation under
which a single agency was expected
to sell all the rails for domestic use or
for export, the western works entered
into an agreement by themselves and
fixed their scale of price at ST for
Pittsburg. SIS for Chicago and $40 for
Colorado, and the Illinois Steel Work
are said to have taken orders IN a
single week covering much the greater
part of next years capacity.
But Eastern concerns have not been
idle and have taken such large orders
that the output of the year is now ex-
1t is hard to say why leather has
been so long at prices which hinder
the sale of boots and shoes, while en-
couraging. eXtravagant speculation in
hides,
But the market has now declined on
Union Leather at least ! cent per
pound and prices of boots and shoes
have gradually yielded during the past
two months and a shade more this
week.
special statement this week shows
the prices of boots and shoes for Is
years from the books of a well-known
manufacturing establishment disclos-
ing, in connection with reports made
in 1895 by this journal, a decline of b
per cent. in price during the 20 years
besides improvement averaging 20 per
cent. in quality of the goo s. Shin
ments in November have been smaliei'
than in last year. but continue -
large or larger than in any other year
and Is per cent larger than in 1s92.
The disposition to buy often but IN
small quantities is greatly changing
the character of the business and L.
the benefit of both manufacturers and
traders.
Sales of wool have been very large
in November. 39,S75,SO0 pounds in five
weeks. against "a, 1924 400. last year, an
26,S31,000 in 1892. but they have beer
effected by important concessions in
price. Manufacturers have somewhat
larger orders and are more hopeful.
but a considerable share of the ma
chinery must inevitable remain idle
until the material is-eheaper in conf
parison with the cost of wool and
goods in other countries.
The rise Of cotton to 5.62 cents
which had no other basis than an i'm
preston that cold weather and storms
late in November might do much
harm, reacted 1-16 cent, but rose. Fri
day, and closed at the top prices. with
improvement in the goods market.
The wheat market has been weaker
with heavy Western receipts and has
declined " cent. Atlantic exports
have been 6.l23,O56 bushels, flour in
cluded for the week., against 41S7, 1892,
last year. and Pacific exports 1910, ,225,
against 1,S57,959, last year, and for five
weeks the total exports have been 2S,-
304,S bushels against 26,122, ,709, last
year. Within the same time corn ex-
ports have been 14,490,2S3 bushels,
against 1881, ,532, last year, and the
price has risen 4 cent
1t is most significant fact which
all interested may keep we'll in mind.
that exports of wheat about equal the
greatest ever known in any crop year
thus far, but are accompanied by corn
exports also but slightly exceeding the
year of greatest movement heretofore.
The possibility that foreign depend
ence on American food supplies is per-
manetly increasing may be worth con-
sidering.
Failures for the week have been PSI
in the United States, against 3O6, last
year, and 10 in Canada, against 2S,
last year.