Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-05-06
DuN's REPORT.
Less Failures Than for Years Business Now
on Solid Foundation.

New Dfk, May Or. w. 'uii N ~ o.
Weekly Review of Trade. tomorrow.
will say: The failures in April were
80 per cent, smaller than in April OF
last year, not third of the amount
i'm 1897, and not half the amount IN
April of any previous year. Both IN
manufacturing and in trading the
smallest ever known in any month, as
in manufacturing they were, II the
larger failures were omitted.
A great share OF the risk in the bust
ness world has been eliminated. 1t Is
not inconsistent or strange II business
halts. because il has been crowded to
the utmost for four months in anticipa-
ting future needs on account Of new
combinations proposed. In some cases
prices have been advanced 50 far as 10
check new business and in other works
have been engaged so far ahead that
new orders cannot now be taken.
Yet new business i'm amount which
would be astonishing, two years ago,
Is still coming forward, and the volun-
tary advance in wages by the Is bes-
semer firms of the Central Association
and by the Frick Coke Works, whose
shipments. in April. 30.452 cars. We're
dence in the future. At Buffalo and
in Idaho strikes are causing trouble.
but labor questions elsewhere Do not
affect general business.
The grain movement has fallen Off.
only 2.46i1iS bushels having been re-
cevcd at the West. during the week.
against i.765,5l0, last year. and ~ corn
only 2,6T7.4l7 have been exported.
against 4,54j. .49. last year, while
wheat exports from both coasts have
been better, 3,545. n. bushels. -four in-
cludcd, against 2,6o4,237. last year.
Low prices help the wheat movement.
and the general belief that injury to
winter wheat has been largely made UP
by spring seeding cash wheat shows
no nuctuation for the week but corn
is about half a cent lower
Cotton was depressed a sixteenth by
better crop prospects. but the loss was
recovered. Friday, ana the week closes
without change.
Nearly all iron works are crowded for
months ahead. but u good many are
catching up with their orders. which
have recently diminished The report
that all the great stock companies are
10 tie melted into one Influences the
stock market but H. still scarcely cred
ited and the raising Of foreign prices
where American competition is no
| longer felt j. suggestive. Pig Il no
where higher. mr. has any class Of fin
! ishod products established higher
prices. though in many the demands
exceed supplies.
| London speculations made a higher
| quotation FOR tin at 25.S5 cents, al
! though Atlantic receipts in April, 3 100
| tons. was the largest on record. and
copper Is stronger at 1926 cents for
Lake although European stocks arc
| rising.
| Shipments Of boots and shoes from
| the East in FIVE weeks have been II i
| per cent. larger than last year. Factor
les are busy with orders for months at
old prices and 2l5 cents advance is
| paid on new orders for several grades.
| The business is not up to that OF last
year. as most buyers hold back as
| long as they can on account of prices,
but the only change in leather is 4
small advance in union sole, and hides
are u per cent. stronger at Chicago.
Wool sales for the week have been
large, S,S59.S53 pounds. owing to sales
Of over 600 600 pounds Australian in
bond for export and heavy speculative
| purchases of territory. The wool year
| ends with heavy stocks on hand, and
| prices about 10 per cent. lower than
last year, British prices averaging
about II per cent. higher for Austral-
ian fine but about 10 per cent. lower
for English and crops bred woods.
Sales OF domestic wool in four months
have been $3.50. 735 pounds more than
| in any year excepting 1897. when spec
ulators We're taking in the heavy stocks
which some Of them have recently been
selling at a loss. but sales Of foreign
have been 3l.725.503 pounds for the
year, against SO 264 $50 in that year.
The average of prices is little lower
| than month ago, with Ohio Xxx quot
| ed at - cents Ohio y at "a. No.
| closing at - and delaine at -. The
| market for goods is n little StrOnger
| with an advance in clay mixtures, but
in general is waiting for the outcome
of new combinations and about some
of these there are still doubts whether
they will be completed. The wOrstcd
combination has gone into operation,
but without interfering with deliveries
OF goods under previous orders.
The cotton goods market is the more
| steady because some strikes still limit
| production a little, but is quite encOur-
aging and active. and in some staples
| has further advanced.
| Failures for the week have been 15S
| in the United States, against 23S. last
| year, and % in Canada, against % last
| year.
New York, May 5.-Bradstreets, to-
morrow, will say: Spring weather and
re-opened navigation have helped trade
in Canada. Toronto reports the out
look for trade in May as very good.
| There is an increasing demand for
| lumber, but strikes there have unset
tied building operations. The harbors
in the maritime provinces have all been
opened, and this stimulated trade
Collections are satisfactory at Cana
dian points. Business failures num-
bered %. against y in this week Of a
year ago.
SPARKS FROM MAINE WIRES.