Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-07-22
NO DECREASE
But the Wave of Business
Prosperity Still Advances.
Great and Continued Increase in Mer-
chandise Exports Is Noticed.
Wool Advances -Cotton Goods Strong--Enor.
nous Boot and Shoe Shipments.

New York. July Pr. G. Dun
COS. Weekly Review of Trade, tomor-
now, will say: Optimism is always
popular. but more than half the time
dangerous. Seven years of hating ana
reaction historically follow three years
of rapid progress. But the three OF
progress have not yet passed and the
most cautious search discloSses no sign
of hating.
Official returns of the most wonder
full year in the nations commerce snow
Il decrease of $95. 900, 600 in value OF the
great staples exported largely owing
to prices but an increase of about $751;
000, 900 in ether exports, mostly manu-
features. Imports greatly increased in
raw materials for manufacture, but
materially decreased in most other pro-
ducts. In July, exports of staples have
begun to increase with much less in-
crease in imports than has appeared
for months in the exports of the manu-
featured products.
A continued and heavy excess Of
merchandise exports is foreshadowed
and the ablest foreign journals admit
as the course of security markets dur
ing troubles abroad shows that Europe
can stocks. Curious operations in ex-
change. based on stocks and bonds de-
posted as security, disclose belief Of
brokers that it will pay to be on the
short side.
Fears of deficient crops will be buried
under Western receipts from farms
amounting 10 13,S61,0i6 bushels. this
month thus far. against 3.133 los. last
year. and 1925, 655 bushels, against g.
6l2.215. last year. Traders have at
least walked up TO perceive that farm
ers do not pour out grain in this fash
ion when crops are scanty. Exports
of wheat. Atlantic and Pacific. have
been ..109. 195 bushels during the month
thus far. against 1897 last year.
and of corn, 9.093, 041. against 5.097.S7.
last year. Prices declined sharply with
assurance of ample supplies. wheat 3
cents and corn pa, which is the more
significant in view of the previous
heavy exports of both. Cotton also is
going abroad largely, through the
price remains 6.10 cents.
Pig iron has not advanced this week
but mainly finished products steel rails
TO $50. at Pittsburg, billets to $34. sheet
bars to $3.50, sheets 10 cents at Pitts
burg, cut and wire nails both So per
ton. The American Plate Co settled
with its hands, granting Is per cent.
more wages and raised the price Of
plates 80 cents per box. Still demands
do not abate, although works have to
refuse many orders. In plates beside
one large order for shipment TO the
Clyde was received in bars. less urgen-
cy Of demand appears at the East, but
in sheets works are about filled for the
year, and in structural shapes, besides
$500 tons for bridges and 1900 for build
ngS at Chicago. proposal is report
ed for 5000 tons to build a palace for
the Micado of Japan. More furnaces
are added 10 the producing list each.
and . iron mines have been added.
this year. though the supply of ore is
still short.
Wool is still advancing. Coates Bros
circular of the 15S showing a rise of
2.19 cents since May 18th. speculation
being particularly active in wool. be-
cause it is rising abroad though in less
demand for manufacture here than
combining and medium grades. At the
three markets 1886 100 pounds have
been sold in three weeks, against a.
l-f,iUV, Ill tlc SdIlt weeks Oh 1894, De
fore the present tariff was enacted.
Enormous supplies of imported wool
then rendered the speculation disas-
trous but traders suppose that old sup
plies are about exhausted. Manufact-
urers do not appear to be buying large
ly. though the demand for goods is bet
ter and has caused an advance in clays
and some other kinds Cotton goods
are unchanged but fairly strong.
Shipments of boots and shoes 1913, 05.
cases for the week, against S4,42l, last
year. and 29s,131 in three weeks.
against $50, ia in the largest previous
year, showing the pressure for early
delivery and works are receiving rather
! more orders. Leather is in good de-
mand and slightly higher and hides at
| Chicago rise slightly with limited re
| ceipts.
Failures for the week have been 1i5
in the United States. against 2O7, last
year, and % in Canada, against II, last
year.