The Portland daily press., 1900-08-18

Great Eagerness to Buy when Prices
Are Right.

New York, August l7.-R. G Dun &
Co.'s weekly review of trade tomorrow
viii say:
After a great wave of advancing prices
optimism as TO business is dangerous
But'th top was reached IN the middle of
March, since which time reaction has
come in every great industry, so that
consumers are asking whether in some di-
rections the decline may not have been
unreasonably large, as was the advance,
and whether buying on the present basis
of prices is not fairly sure. There are
further evidences of weakness in raw ma
terials, notably this break in structural
iron, but each one is availed of to place
heavy contracts. New York is weIeom-
ing buyers from all over the country in
larger numbers than for many years at
this season in dry goods, IN groceries, in
Jewelry and in hardware; and II CON
tracts are not placed to as large a volume
by this time, it is because of conserva-
tism OF those who think they may compel
some further shading of prices. Reports
this week from other important points
of distribution show the same eagerness
to buy when the time seems right; and
current business in the country is shown
to be of good volume by bank clearIngs
for the week at the chief cities outside
New York only per cent smaller than
last years record of extraordinary specu-
lative activity and 202 per cent larger
than IN 1898, while at New York "a
per cent smaller than a year ago and
IL per cent under 1898.
It Is becoming more apparent that the
bottom has been reached in prices of iron
and steel.
The decline was severe and recovery
must be slow, but gradual advances and
moderately increasing activity are more
healthy than violent changes. In no
single division is the Improvement more
striking than IN any other. Except steel
rails, all forms OF iron from the ore to
the finished product are being sought
more eagerly land with less effect to Sc
cure further concessions in price.
The first effect Of the official report of
wheat conditions Indicating total crop
OF only 513 9y7, GOO bushels, was TO
strengthen prices, but when the secre-
tary of agriculture was reported as pre-
dieting "dollar wheat before the end of
the year. the market showed an inclina-
t1on to disagree, and the September OPP
tion fell below so cents at New York, for
the first time in two months, the week
closing with a net decline OF 2 rs cents. !
MIR. Wilson's statement that the per
capita consumption viii Increase to /
nearer than s." bushels this year on
account of greater prosperity, suggests |
the question whether many viii eat 80
per cent more bread than in previous
years. The farmers have not begun TO
hoard their wheat, for receipts at interi-
or cities in two weeks have been u, 0O6,
1873 bushels, against z, $50, 333 last year
and 5,Sl5. 646 in 1898.
For the year thus far shipments OF |
boots and shoes from Boston are =, 735, 443
cases against 1914, $50 IN 1899. hut the
value of business to date has been exceed
ed in only three years. The trace Is
suffering from accumulation of stocks
that can not be sold without a loss as
compared with the price at which shoas
could now be made. Western shops and /
dealers are actively employed and do not
share depression at the east. Hides are
in better POSITION than the leather mark
ct seems to warrant. Failures for the /
week were 161 in the United States
against 1856 last year and "A in Canada /
against a last year.
Aside from Manitoba crop, news
the dominion is generally
and business shows improve
ment IN consequence. While trade is
quiet in hardware and shoes in st. John,
the movement of dry goods is maintained
and a good fall trade is expected to follow
the harvesting OF the crops, which ara in
a favorable condition. Midsummer quiet
prevails at Halifax but the situation is
healthy and crop prospects promising.
Wholesale trade shows an increase at To
ronto. Too much rain has retarded bust
ness in certain lines at Quebec and also
injured the hay crop. but collections are
fair. Trade conditions are unchanged at
WinnsDeg Business is very active at
Vance uYer aud Victoria in goods for
shipment to the northwest before naviga-
ton closes en- the Yukon river but loca