Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-05-13
DUN's REPORT.
While Stocks Have Slightly Declined. Actual
Business Has Been Booming.

New York, May 12-R. G. Dun & CO
in their Weekly Review OF Trade vii
| say: To speak truly of business. thi
| week, one must free the mind Of stocks
| For severe decline in manufacturing
| stocks has created an impression tina
| It has some relation to productive in
| dustry but il has none. There was NJ
| change in the money market worth
mentioning and the volume Of bushes.
shown by payments through the prin-
cipal clearing houses was 7lJ per cent
larger than in 1892.
Never before reaching 600 tons
per week. the iron manufacture re-
ports, May II. an output OF $50. 095 tons
weekly. which with a. iJ5 decrease in
warrant and furnace stocks indicates
consumption of 1892 tons daily
against 81. 035 in March. "a .S7l in Febu-
airy. and 36,SS2 in January. An in
crease of 10 per cent. in the year would
ne less interesting If consumption. a
year ago. were not far beyond any
thing previously realized. Oonly pig
iron advanced. bessemer 80 cents and
grey forge % cents at Pittsburg and
local pig 50 cents at Chicago. In
minor metals tin declined with London
to 25.3 and copper is weaker at 10 cents
for spot and is IL for futures.
Greater than in any previous year by
- per cent. the actual shipments of
boots and shoes from the East reflects
a heavy business with a general ad-
vance in prices. Hides at Chicago ad-
vanced about ! per cent with actual
receipts of cattle in months. 100. 900
head less than last year. and over 200
900 smaller than in 1881. notwith-
standing the gain in population.
Cotton is a shade stronger at 6.25
cents with government and other evil
dence that the report of decrease in
acreage have been somewhat exagge-
rated Mills are we'll employed
throughout and a single sale of over
1000, 900 pieces of print cloths gives
great assurance 70 the market.
Nobody VINO has studied statistics
can tell why purchases Of loco. 600
pounds of Australian wool in bond for
exports, this week. following others in
previous weeks, should advance prices
Of wool nor were purchases of 5000. 900
pounds territory wool by a Spectator
readily explainable. but it was Just
ttllIf ipi SlONtiS 10 ASK all lnPN CHI
and just when the largest manufactur-
ers were ready to buy only the smaller
are buying. Prices are said to have
been generally advanced with higher
demands from the interior orders. The
market FOR WOODEN goods IS waiting for
evidences of demand which do not yet
appear and the delay in getting the
new combinations into working order
causes some hesitation.
If government estimates were con
'sideyed reliable. one based on entirely
unknown acreage of wheat and cotton
would ne everywhere resented. This.
with official returns pointing 10 a great
decrease in winter wheat production.
the price dropped one cent. and cot
ton declined for options though retain
ing the advance of a sixteeth for spot
which was established before the gov
eminent report appeared. Nobody can
base a sensible estimate of a statement
of condition which takes 10 account
of acreage of winter wheat killed and
abandoned. The best that can be said
is that worse returns were expected in
both markets, so that the government
report had practically no influence.
Failures for the week have been 165
in the United States, against 24G, last
year, and 20 in Canada against "A. last