Daily Kennebec journal., 1899-10-28
PROSPERITY
Is Everywhere Indicated by
Immense Business Dealings.
Money Easier, Stocks Advance and
Commercial Demands Unexpected.
Heaviest iron and Steal Orders Even Placed
and Prices Advance.

in their Weekly Review of Trade will
say: Fears and not facts made a war
IN South Africa seem a menace to nros-
pcrity here, and week of conflict has
cleared away the fear. British markets
'or securities nave been helped by the
belief that mining shares would be
worth more WIN no Boer control in
mining regions and large purchases
here OF ammunition, packed meats and
other army food have swelled the bal
ance due this country Money mar
kets have grown less embarrassing,
stocks have gradually advanced. in
iustries are still supported by a vol
ume of demand for which no precedent
can be found, and payments through
the principal clearing houses for the
past week have been 36G per cent larg-
rr than last year, and 57.3 per cent
larger than in 1892. So great an in
crease SHOWS the net results of many
and potent forces making for public
prosperity.
The heaviest transactions in steel
rails ever made so early cover 800 00G
tons Tor next years delivery, or two
thlrdS OF the entire annual capacity Of
the works. Great contracts for ma
terial follow, one concern having
bought 10000 tons bessemcr pig at
Pittsburg for $23. while $2450 is paid
for early deliveries. and 80. 900 tons bill
let's We're sold to one concern there and
10000 at Wheeling. $3.50 being quoted.
with slabs at $3.50 and sheet bars
at $50. Such transactions only show
the general belief that high prices viii
run far into next year
For structural work. New York or
lers appear, including some of conse-
luencc for the East and for cuba, and
in bars the car implement demand
makes the Chicago market very strong.
but at Pittsburg works anxiety for fu-
ture contracts has depressed the price
TO 2l5 and in plates some works have
nearly caught W with contracts and
are accepting p - cents Sheets are al
so weaker, 800 being quoted at Pitts
burg, as the proposed combination
seems To have failed.
Markets for minor metals are react
ing. tin having fallen to 81 y. on sales
in October. 400 tons larger than usual.
ana Lake copper is largely offered at
l1.37 cents. Lead is a shade lower at
i.57l4 ana spelter is demoralized and
offered at cents.
While shipments of boots and shoes
IN four weeks OF october have been $50.
599 cases. against 343. .S14 last year. and
less in any other reluctance of buyers
to pay as much as manufacturers ask
renders spring orders much below the
average. The Chicago market for
hides is strongly sustained.
Buying of wool has been heavy at
Boston, l0.0l1. 200 pounds fer the week.
and at the three chief markets. 13519,-
>31. making 42,g2S.2S9 pounds in four
weeks. against S6.394 900. in 1897, when
he last great speculation was on foot.
Many mills are now buying which have
recently started after long idleness.
The demand for goods improves and a
great season is confidently expected.
The advance in cotton goods does
not stop for the demand is heavy. and
standard print cloths have been raised
IN eighth by the selling committee
But the operatives have demanded
higher wages. possibly Influenced by
reports made when combination was
proposed. and some works may stop
The cotton market closes a sixteenth
lower. shortage of movement being at
'ributcd largely. and perhaps too large
ly. to concerted holding Of stocks by
growers of factors.
Wheat remains practically lyunchanged
while Atlantic exports. flour included
have been 1882. S4l bushels in four
weeks, against H. 4S3 .G56. last year. and
Pacific exports, 2.191.171. against 3,124.
,06, last year. Western receipts fall
short and in four weeks have been only
}0,022, ,0J3 bushels. against ol50.199. last
year. Without concert there is proba
bly, some waiting for better prices by
farmers. Corn exports continue to
show the magnitude of foreign demand
For breadstufis. reaching 14.4IS,I I13
bushels. against S.546.913. last year. and
the demand has been large enough to
advance the price one-half cent.
Failures for the week have been 100
in tn United States. against 226 last
year. and % in Canada, against "a. last
year.
New York. Oct. 27.-Bradstreet's will
say. tomorrow: Warm weather has
curtained demand al leading Canadian
markets. Montreal reports orders re-
ceived by jobbers smaller than usual.
but it is expected that the return of
cooler weather will witness improved
conditions. All available ocean freight
space for the balance of the season is
reuorted taken and considerable guam
titles of freight will have to be for
warded from other ports. Collections
are satisfactory.
Toronto reports that sales would
have been larger We're it not for un
seasonably warm weather. The up
ward tendency of values is still an aid
10 distribution, however. Leading sta
pie cottons have again advanced, in
ore case this being the sixth advance
since August Sugar is higher, but
wool is dull The movement of grain
is more liberal and collections are help
ed thereby
Business in the maritime provinces
is seasonably brisk and apple ship
ments are larger. stimulated by good