The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1900-02-10
STRENGTH OF STAPLES,
Leading Feature of the Market Last
week.

New York, February e.-Braistreets
tomorrow win say; The strength OF
staples, aud particularly those tf sgri-
cultural origin. IL the leading feature
this week as last. In general trade, wealth
err conditions have not favored large
distribution, but comparisons with yer
ago are still quite favorable. Enlarged
speo ulation 10 reflected In increased clear
ings and comparisons with last year are
encouraging, while gains ovsr years pre-
vious 10 1899 are very marked.
In strength Of demand and siss CT ad-
Vance, cotton 10 easily first. The strength
CT the raw product naturally Affects man.
{ ( ,otured goods which are very nrm ana
in good demand from jobb,rs. Resent
rains have Increased the supply Of water,
and New England mills are nov running
to their fullest capacity. Southern man
U fscturers are very busy, and Will use
one-sixth CT the South's total cotton pro-
duction this season.
Corn is higher. partly In sympathy with
wheat, bat also on reports CT damage to
the Argentine crop by heat. Provisions
have bssn quite strong throughout the
week, AID active demand Is responsible
for higher prices Of pork and lard In tho
foe CT large receipts Ct hogs at primary
markets.
Hides and leather are firmly main
taiued, tn ough reports from the boot ana
shoe trade CT current business are not
very good. Fine grades Of wool are quiet
but there is stin an urgent demand fof
medium graies aud quarter bioods
sell really, considerable imported wool
having changed hands at ea'eern mar
kets.
In tho West, Chicago reports thai
numb,r Of new stocks of hardware are
b,ing bought By the we,tern and north
western buyers but lumbsr 10 dun az
result Of the strike Of bailding EN-
rloyes.
In tbs Northwest business is, In the
main, very faiiifa,tory.
Southern trade conditions arc most en-
oouray cling. cotton having shown an ad-
vance CT 40 per cent feoin the low price Oh
the season.
Business, particularly in dry goods, for
spring account, Is Of an encouraging vol
ume a. ea5tsrn markets. An excsilent
business 10 reported doing in prints at
Boston, aad ginghams have advanced a
quarter of a cent.
Bank olea,ings for the week aggregaie
81 ,s07, SIS, TIT, a gain Of 49, per cent
over those Of last week, but decrfase Of
nearly one per cent from this week
ysar ago.
Business failures In the United States
far the week number 23i, az compared
with 1893 In this week yeai ago
Staple prices as yet refuse to BEAR out
predictions that they would 60 lower
The index numb,r ON February LIST Is
still the highest reached on the present
movement, and the largest In not since
April, 1891. During January. Of lO7 pro-
ducts, SO advanced, while 40 remained
unchanged, leaving only % to show de-
creases. AS compared with year ago.
10 out Of lO7 products are higher, and only
one-ffth IL lower. OF the decreases
.om a year ago, one-third Of all IL far
nished by the breadstuffs group. every
one Of which lie lower In prics than on
February ist last year.
Weather and crop reports have affected
wheat prices Of late. The aggregate
worlds supply on February 1st was l75,-
SIC. OJ0 bushels.
Iron prices vary with the market re.
porting, but no widespread weakness is
yet noted. Wheat, including -four ship
ments for the week, aggregate 29Os 1857
bushels, against b.7s0,boo bushels in tho
week Of 1859.
Corn exports for the week aggregate
3, 450, 900 bushels. against 3.s65. 62s bush
els In this week a year ago.
A feature of the week In Canada has
been the break In mining stocks, caused
by the shut down of several large British
Columb ia mines. This caused heavy
drop In quotations at Toronto and Mont
real, and affscte trade activity at interi-
or British Coluwbi markets. Main.
tanned strength lie the I feature of staple
prices ct Montreal Unsettled weather
has interf sred with business this week,
but the outlook for spring trade 10 report
cd good. Business 10 light In the mari
time provinces, where collections are
( air. Canadian olsarings for the week
aggregate 81, 557, 9sl, . gain of per cent
over those of this week year ago.
CANADIAN failures for the week num-
Der 20, as compared with 50 in this week