The Portland daily press., 1900-11-03
Reawakening in Iron
Trade.
Higher Market Looked for After
Election.

weather continues the leading directly
unfaS arable feature of distributive trade
hecause OF the check given TO retail dis
tribution and, therefore, to recorder busi-
ness In most lines OF dry goods. wearing
apparel and shoes. Conservatism In
view Of the near approach of the Presi-
Dental election is undoubtedly an els-
ment exercising considerable intiuencs
but a conspicuous exception 90 this Is
found in the re-awakening OF demand ana
the advances In prices shown In the iron
trade In widely separated sections. This
rs really one of the most important devei-
opments OF the week, and is taken as In
dicating not only that confidence in
election results Is felt, but that consum-
ers stocks are down to minimum Fail
ures naturally show expansion over the
same period year ago, but are mueh
more favorable than in preceding years.
Following tha ending of the anthracite
coal strike has come the announcement
of an advance In Wholesale prices of from
20 to so cents psr ton, and the impression
is that retail rates are not likely TO show
any marked reduction very soon. In the
manufacturing trade the feeling Is that
firm and even higher market may be
looked for after election. Farmers are
SOW to follow the price downward an"
are reported holding for better pri :.
Weather conditions are not altoueth>
favorable to the shoe trade, but hides are
firm and sole-Ieather shows an advance of
Two and three cents per pound at the West
ior October. Wool is showing increased
activity, while prices are firm in symps-
thy with the better tone of London and
Melbourne advance. In cotton fears Of
frost damage has been the moving factor
and hers also some advance mas been
scored from the low point reached last
week. The picking season as q whole,
however, has been almost unprecsdently
favorable, and the trade has moved it's
climates higher.
A distinct and marked Improvement in
the demand for both crude and finished
iron and steel Is noted This movement
is regarded as significant, in view Of tn
reported cutting of prices py English and
scotch makers. Despite the claim that
western railroads would not pay $50 per
ron for rails, Chicago advices are that
800, 0O0 tons have been bought for this ao-
ooun. within the past ten days. Although
the export demand for iron and steel has
quieted OF late, that for cotton is appar-
emily undiminished, and this week wit
nessss the heaviest single days exports
from New Orleans ever recorded, Nine
months trade returns show gain in
manufactured goods of 20 per cent over
gear ago, while the increase in agrIcuI-
tlral products was only per cent, this
latter increase being entirely due to
higher prices of cotton as compared with
asst year. The outlook is for an aggre-
gate export of manufactured goods this
year of at least s40, 600, OOO total never
heretofore approached.
A curious feature is that most Of tie
increase In import trade for the nine
months is In products designed to bs
used by American manufacturers SO that
the anomaly is presented of American
manufacturers being the largest import
ers of foreign products.
Expanded fall distributiye trade ana
increased stock speculation at New York
city, are reflected in the heavily enlarged
total OF October bank clearings reported
TO Bradstreet's. The total for the month
ust closed at 70 cities was s7.5i4. .s36. 5s4.
an amount s5 per cent heavier than In
September and being exceeded, In fact,
by only two monthly aggregates this
year. AS compared with October year
ago, ths decrease is per cent. Former
decreases In several groups OF cities in
September gave place to gains in October
and decreases in New England and Mid
die states were smaller than for many
months past.
Failures were more numerous in Octo-
Der than in September, but liabilities
were smaller. There were 81 failures
reported for the month just closed, an
increase of 8 4 per cent ovsr last October,
but decrease of 10 per cent from 1888.
The liabilities OF the falling traders ag-
grega5ed ss.Oy7. .sa5 in October gain of
35 per cent over October. 1899, but a de-
crease of 80 per cent from 1898
Failures were more numerous In all
sections excspt New England and the
territories but liabilities were not aslarge
in New England or in the western states
or territories as they were IN October
year ago,
Hearings for the week aggregate
81, ,67s. .479,o deoease OF 81 per cent
from last wesk and OF Is per cent from
this week year ago. bus gain OF "a
per cent over 1898 and OF IS per cent over
the week previous to the last residential
election. Failures for the week number
165 as against 16i last week l74 In this
week year ago, 1888 In 1898 and ass each
in 1897 and 1895
Wheat Including -four shipments for