Daily Kennebec journal., 1900-06-23
DUh'S TRADE REvlE ".
Damage to Wheat Crop is Alarming Summer
Closing Of Manufactures.

New York. June OR. O. Dun e
co.'s. weekly review of trade Will say,
tomorrow: The damage tp III" wheat
crnp n the Northwest iS the event of
chief Importance. How extensive the
loss may prove. in view Of the widely
conflicting accounts. can only be-
judged from the speculative market in
which Information gathered at the
West has caused remarkable al
vance. at Chicago l. cents in 10 days.
ana the price here has only II cents
per bushel. though for the September
option only 9 cents. The belief is that
50 large part Of the spring wheat has
been Killed as Ia reduce yield expect
"a To be close 10 the llrgest on record.
t. considerably less than the world has
required. during the crop year now
ending.
The closing Of manufacturing works
at this season usually has . double
meaning. The labor organizations seel,
in the summer vacation a settlement
If wages for the coming year Last
year. the pressure for products was So
n cat tndt concessions Were rcadiil !
made ana others later, - that the rate
of wages became the highest ever
known: since the currency was deprc-
ciated. This year extensive demands
are being made without approach to
settlement as Vet in many branches of
business. so that the summer vacation
may be more extensive and i'm some
lines longer than usual.
The shipments Of boots and shoes
only 233. 743 cases in three weeks of
in 1899 or 1895. and smaller by 10 per
cent. or more III other years. The job
bers still appear inclined To wait and
some manufacturers decline quotations
recently named and have closed or re-
duced the force. OF necessity the best
economy i'm production cannot be
reached under such conditions Hides
ut Chicago are not changed for the
week. as reported gains ana losses bal
ancp.
Lower prices are again reported Cor
several grades uf cotton goods ana arr
expected for others and buying is
thereby retarded Heavy brown goods
and drills and denims are dull, and
without doubt the uncertainty Of the
material market has some influence.
The price for raw cotton has again al
vancod a quarter during the past
week. but without doubt the uncertain
ty oi the material market has some in-
iiucncr. The price for raw cotton has
again advanced Il quarter. during the
past week, but without clear indication
of increased demand for the supply re-
naming or insutficiency Of that sun3ly.
In Woulen goods also the manufacture
"rS find that the demand fails to an
SWer expectations or to support prices
asked at the opening ana some large
works are Row reported running part
time or closing.
Stocks have been dun and weak with
some London selling in part because
wheat reports indicate smaller future
traffic. but mostly because excellent
earnings seem to have 50 little in
tiuence here
Bank ClearingS continue to increase
over the last and every other year be
ynnd New England ana the Middle
states. and in this region over all years
except the last.
Failures for June thus far have been
S3.6l3 000 in amount; manufacturing.
81 ,G13.2i1. ana trading $l,700.92l Fail
ures for the week have been 119 in the
United States. against 17S last year.
and % in Canada. against 1S last year.