Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-07-21
DuH's REPORT.
Dull Summer Season Affects Business and
Prices All Over the Country.

'
row. will say: The midsummer vaca-
ton has already disposed of the
prophets who gave it week or two
but there are few signs to indicate
it's probable duration. The compact of
| Lake ore producers not to sell stand
| ard bessemer ore below $3.50 at lower
Lake ports, this year, with coke held
| at $3.50. much lessons the proDaballty
| that the market will wait for bessemer
pig to go far below $l5 and some in
creased buying already appears by
makers of implements.
The halt in the great iron industry
necessarily affects both business and
prospects in some others. The same
extensive building strikes which have
cut off the use of much structural
steel have also prevented a vast use OF
lumber which was. like iron, extraor-
dinarily advanced in prices.
When cotton had been easily held
above 10 cents and then had dropped
sharply, Liverpool Spectator again
showed how easily Americans are in
duced to accept higher prices for the
quantity they have left for sale
The goods market, quite embarrassed
at the best, is not helped by such
vagaries, and the closing Of important
mills was the more meritorious because
it gave occasion at the end Of season,
with an over supply here both of goods
and material, to rest until Europeans
have settled their affairs.
Without formal agreement the wool
en- industry adopted in part the same
course. many mills having stopped or
raIpcad fprcn that haIipvp
that less than half the capacity is now
at work. because the nature of the next
seasons demand does not yet appear
There has resulted more willingness to
sell wool and prices average fully
cents lower than in February, but
manufacturers are inquiring more ear
nestly just now to find out what goods
they can sell than where they can get
materials.
Further important changes are APP
pearing in the heavy decline of packer
hides at Chicago. and also in heavy
sales OF leather 10 manufacturers. 1t
is reported that such sales are made
to many of those who bought largely a
few weeks ago, according to report up
on concessions made and competent
reporters now state that about half a
cent has again been conceded from re-
cent prices, making Buenos Ayres
about 23i2 cents. common hemlock 22I2
and Union so cents.
The sharp fall Of cents in wheat
and cents in corn appears to reflect
public conclusions after hearing much
evidence. official and unofficial regard
ing the extent Of injury to both
orr La 70 , IN
truth to say that the contradictory
character of these statements OF injury
have well nigh deprived them of
weight. so that the public reckoned on
destruction of 100, 900. 900 bushels
wheat by drought as possible. but not
much more probable than that the Of
fetal estimate Of yield was 100. 900 900
too low. The same resulting outcome in
either case would be enough to meet
all probable home and foreign needs
for the current year. The legitimate
conclusion as to corn goes even further
and is by the public accepted as evil
dence that even the strangely increas-
ing foreign demand in recent years,
with enough increase for gradually ex-
panding home needs. can be safely met.
Failures for the week have been 81
in the United States. against 145 last
year and - in Canada. against %, last
year.
Dun's Review will say of the Cana
dian trade: Business conditions in
Canada, this week, have shown little
alteration. midsummer dullness being
the chief complaint, while in many sec
tons crop prospects have improved
st. John reports only moderate whole
sale trade and fair retail business
while rain has helped crops and bills
are promptly paid. Weather continues
dry at Halifax. but trade is steady
Trade is good for the season at Mon
treal. with activity in shelf hardware
and groceries. Some cancellation of
orders for dry goods from the North
west have been reported and heavy
metals are dull. but general collections
are good Midsummer dulness pre-
walls in dry goods and kindred lines at
Quebec, but business in hardware is
active. Crop prospects have material
ly improved in Manitoba, but trade
continues quiet at Winnipeg and col
lections are poor. while Victoria re-
ports wholesale trade satisfactory and
retail business quiet with collections
fair.