Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-09-15
DUE'S WEEKLY REPORT.
'faoe Damaged b. Galveston Disaster ard
Threatened An:hra cite Strike.


New York, Sept. 1f.-R. G. Dun's
and company weekly review Of trade
VIII say, tomorrow:
The tropical storm that devasted
/ the gulf coast, almost wiping out the
city of Galveston and doing damage in
other parts Of the country caused re-
| duction in the volume of business at
the south, and railroads in the gulf
| region have probably not shown their
| maximum losses of earnings as yet;
I put even after a catastrophe a recup-
erative power is shown. An added
cause of hesitation in business IL the
| order for u strike of anthracite coal
/ miners, though there is some doubt
whether the command to lay down
tools will be very generally Oheyed, and
stocks Of coal above ground have been
much increased in explanation of this
trouble. Otherwise the working force
mas increased. this week. for operations
! are resumng at steel mills and the
michigan Peninsula car plant and the
Deering Harvester works have started
up after seven weeks idleness. with
5000 hands each. From many quarters
Of the West and Southeast a better
distribution Of merchandise is report
cd in jobbing and retail strikes circles
The weather has continued favora BE
Tor the maturing corn crop with cut
ting progressing and the crop general
~ out Of danger, but damage to cotton
by the storm is still an unknown guam
tity
Cotton closed, last week, at the high
est price in the 10 years. and a large
short interest was waiting reaction.
Instead there came news Of the disas
ter in Texas. ana sensational reports
that million bales had been destroyed
AT the New York Exchange trading
was far in excess Of all previous REC
urds. and prices rose by bounds by
their less aggregated reports from the
south but the market failed to respond
and middling uplands advanced IN Ill
cents with a New Orleans expert
promising a crop under g750.oU0 bales
and predicting a worlds visible supply
in September. 1901. OF 2500u0 bales less
than the present. The ri4c in the raw
material caused sharp advances in cot
ton goods
More orders are being received mt
iron mills ana prices are steady. III
structural ana finished material there
is much business. and activity is be-
coming almost universal i'll the iron
region. Steel rails are waiting for the
agreement as to prices which ~ ex-
pcctcQ 70 be reached. next week A
reduction in keeping with other steel
products is considered certain, ana
then the market Will be on a solid
basis. Some large makers favor $3.50
as the new basis and believe that near
" two million tons would BE- ordered |
at that figure. ship building was never
more active, and a feature was con
tract for coal pier to be used III the /
export trade. Boots and shoes begin I
to recover after many weeks II idle /
ness throughout New England. Orders /
are coming forward freely and return /
to normal conditions is expected. Last I
weeks shipments from Boston We're |
only 61,l42 cases. which is the smallest !
amount since the decline began. but |
increased in the purchasing promises |
early gain in forwardings. Conditions \
are similar in the wool market where !
sales last week aggregated 2643, 900 /
ponds, against 12.056. 800 a year ago.
Prices do not fan as might be expected |
in such a dull season.
Failures for the week We're 195 in the |
United States against 149. last year. I
and 80 in Canada against 81. last year |