Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-02-12
R. G. DUN & cos. REPORT,
Spring Trade Is Opening Welt and Business
Indications Are Good.

New York. Feb. 1l.-R c. Dun & Co
in their weekly review of trade will
say: Business is rather early pushing
towards spring activity. Events which
have controlled are good buying of
iron by the large makers, the rise in
cotton, with strength in goods. the
great railway consultations. and the
Cuban instruction. The latter, with
its possibilities operates as a brake on
speculation, and foolshness of locar
traders gave foreigners a much de
sired opportunity to buy stocks, on
balance about $1,000 shares. January
earnings, $3s ,017.il7 already reported,
are 1876 per cent, better than last year,
and 9.5 better than in 1892, showing the
best month in six years at least, ana
February returns thus far are proms~
ing.
The output Of pig iron. Feb. !, was
80, S23 tons weekly, the largest in the
history of the business. The reported
buying Of 1870. 900 tons Bessemer iron
by the Carnegie co. and 100 600 by an
other Of the largest steel concerns
nevertheless means decision by the
ahlcst manufacturers that the output
of pig iron will soon prove too small fUr
The growing demand for finished
products. The Illinois Steel Co. haa
contracted for 100000 tons of Besse-
mer ore and producers of other ranges
count upon an advance in price. Rail
contracts already cover, it is said, more
than last years production, the rail
ways buying earlier than usual
January was one of the biggest
months in the Connelsville coke output
623,S15 tons, and furnace continued at
the same price. Tin rose to II cents
in spite of heavy shipments and cop
per to- II cents or better for Lake N
spite of enormous American prOduc-
zion. The shipments of boots ana
shoes from the East continue larger
than ever IL per cent over last year
and "a per cent. over 1892, With many
heavy contracts just taken, though
presumably at prices below makers de-
mandS. Leather is in many grades
sold SO far ahead, while shoe manu-
factulerS are also supplied so far
ahead, that business is inactive and
hides at Chicago change scarcely 1t all.
though sales of Texas We're heavy.
January receipts of cattle We're 10000
head or per cent. larger than last
year. but prices of IS grades average
IS per cent higher than year ago.
The rise in cotton, 5-16 for the week,
results in part from better prospects
for manufacturers here and abroad, but
only in part. Spectators became per
suaded that efforts for short crop this
year would prove effective and a heaN.
short interest covered. The aCtual
movement shows no change of conse-
quence. but prices of goods have
stronger tone and foreign prospects
are better. With the better tone pre-
vailng, this manufacture should soon
feel the heavy demand which other in
duStreS are meeting. Wool sales at
the chief cities We're only 5,3o3.209
pounds, for the week, and II GA 500 for
two weeks, against -, 12l 500, last year.
Prices are still strong in spite Of the
general indifferences of manufacturers,
who seem to have secured ample sup
plies. For the better grades of wooden
goods an advance averaging l1.J per
cent. from last year is readily main
tanned. The opening of works Idle for
years. in spite of the heavy production
already assured. is Il striking feature
in this as in the iron and other in
duStries and implies heavier demand
for products than are now met by the
unprecedented output.
Wheat has been strong. with spot ad-
Vancing cents and May 23i cents,
though Western receipts have been for
two weeks. 5,366. rs bushels against.
3,3l7. S95, last year. but Atlantic eX
ports have been 5,214. 43S bushels, flour
included against 4,026. $50 in the two
weeks of last year with large Pacific
exports. Corn exports are also sur