Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-11-03
STRONG INDICATION
Of Result of Election Shown by
Business Conditions.
Heavy Advance in Iron Trade in Vide
" Separated Sections.
Confidence Thus Shown in the Re. election 81
Pres. Mckinley.

New York, Nov. 2.-Bradstreets, to-
morrow, will say:
tnreasonably warm weather contin-
ues the leading directly unfavorable
feature Of distributive trade because OF
the check given to retail distribution.
and. therefore, to recorder business IN
most lines of dry goods, wearing APP
plrel and shoes. Conservatism, in view
Of the near approach Of the Presiden-
tial election is undoubtedly an element
exercising considerable influence. but
a conspicuous exception to this is
found in the re-awakening Of demand
and the advances in prices shown in
the iron trade in widely separated sec
tons. This is really one Of the most
important developments of the week,
and is taken as indicating not only
that confidence in election results is
felt but that consumers stocks are
down TO a minimum. Failures natural
~ show expansion over the same pc
riod a year ago but are much more
favorable than in preceding years. Fol-
lowing the ending of the anthracite
coal strike has come the announcement
Of an advance in the wholesale prices
Of from % to 50 cents per ton, and the
\ IMPRESSION - lildL ltldIl iCtS hIf IfVl
likely to show any marked reduction
very soon.
In the manufacturing trade the feel
ing is that firm and even higher mar
ket may be looked for after election.
Farmers are slow to follow the price
downward, and are reported holding
for better prices. Weather conditions
are not altogether unfavorable TO the
shoe trade, but hides are firm and sole
leather shows an advance of 2ef3 cents
per pound at the West for October.
Wool is showing increased activity,
While prices are firm in sympathy
with the better tone OF London and
Melbourne advance. In cotton fears OF
frost damage has been the moving fac
tor. and mere also some advance has
been scored from the low point reach
ed last week The picking season as a
whole, however. has been almost I'M
precedently favorable and the trade
has moved its estimates higher.
A distinct and marked improvement
in the demand for both crude and fin
ished iron and steel is noted This
movement is regarded as significant.
in view Of the reported cutting Of
prices by English and Scotch makers.
Despite tine claim that Western rail-
roads viii not pay SIG per ton for rails.
Chicago advices are that 100000 tons
have been bought for this account
within the past ten days. Although
the export demand for iron and steel
has quoted of late. that for cotton is
apparently undiminished. and this
week witnesses the heaviest single
Il .rrf.. Dr111nG
recorded.
Nine months trade returns show a
gain in manufactured goods exported
OF - per cent. over a year ago. while
the increase in agricultural products
was only 9.5 per cent. this latter in
crease being entirely due TO higher
prices Of cotton as compared with last
year. The outlook Is for an aggregate
export Of manufactured goods. this
year Of at least $40. 900. 900. q. total
never heretofore approached. a curious
feature is that most OF the increase
i'll import trade for the nine months
is in products designed 10 be used by
American manufacturers, 50 that the
analogy is presented Of American
manufacturers being the largest i'm
porters of foreign products
Expanded fall distributive trade and
Increased stocks speculation at New
York City are reflected in the heavily
enlarged total OF October bank clear
ings reported TO Bradstreets. The to-
tai for the month just closed at -
cities was 1854 1855 an amount Is
per cent. heavier than in September
and being exceeded. in fact, by only
two monthly aggregates this year. AZ
compared with October a year ago the
decrease is s.s per cent. Former de-
creases in several groups Of cities in
September gave place TO gains In Octo-
Der. and decreases in New England
and the middle states were smaller
than for many months past.
Failures were more numerous in
October than in September. but liza
bilitles were smaller. There were S's
failures reported for the month just
closed. an increase OF 81 per cent. over
last October. but decrease Of Il per
cent from 1898. The liabilities Of the
falling traders aggregated 5e0TT,2p5 in
October d gain Of 35 per cent. over
Continued on page 80