Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-08-04
DUN's REPORT
Finds Encouraging Features in Business Stu.
alton in Spite Of Falling Prices.

| New York, Aug. 3.-R. G. Dun & Co.'S.
| Weekly Review OF Trade. tomorrow,
will say: Failures by branches of bus
mess, during July. given in detail, to-
day, show total of 1893 commercial
| concerns with aggregate liabilities Of
! -, 151, 155 and four banking defaults for
| $20l, 900. Manufacturing failures num-
bered lS3, with liabilities of $5,l77 $50,
and trading $50 with $3,324, 1866 liabilities.
| The total shows a heavy increase in
| comparison with the corresponding
| month of last year, which is mainly
| due to phenomenally sound conditions
existing at that time when the amount
of liabilities was the smallest, with one
exception, in any menth of the so COW
| cred by these returns.
1t is often hard to read encouraging
symptoms of general business in de-
| Ginning prices of commodities, but Just
| now it is reasonable to look for them
Some raw materials and some manu-
featured products one stage removed
| from the raw, are selling at lower
prices than at any time since last
| years advance set in; but there is con-
| fidence among buyers that the DOWN
| ward swing is nearly over while sell
ers are adopting a cautious policy
which until recently characterized the
attitude Of buyers. The business be-
| ing done is not of the kind that at once
shows in bank clearing, which for New
York are 25.1 per cent. and for IL other
leading cities Al per cent. below last
year. for the week, and strikes have
led to further shutting down Of fac
tories. while others are threatened I'M
less efforts at wage settlement sue
| coed.
Iron and steel markets We're startled
by reports of sales of steel bars at 30
cents per 100 pounds, but business at
the same time was the largest in
months at Chicago on a basis of about
SIZE. The trade believes that orders
Will increase as the season advances
and that total needs Of iron consumers
will compare well with last year. Ex-
port orders increase and makers do
not fully accept reports of purchases
of foreign rails for delivery in the
South Copper exports in July are
estimated at 1861 tons, against 1850
in 1899, and the amount coming into
sight in the last half year for home
consumption is only 1925 tons. de-
mand for bituminous coal is heavy. but
producers hesitate to contract ship
ments with home prices tending up
ward.
Shipments Of boots and shoes from
EostOn We're 12,3iS eases. against IS. sos.
last week, but a year ago We're Jos. O45.
Leather is weaker, some lines declining
cent, but there is more activity. The
American WColcn Co. opened spring
lightWeights at ~ to 10 per cent above
last year, and others followed but
sales We're less than expected Wide
sheetlnSs are reduced l. to 20 per cent,
but the decline attracts more business
Failures for the week were 22s i'm the
United states, against 49,. last year.
and "A in Canada, against %. last year.
BUSINESS conditions in the Dominion
OF Canada show little change for the
week. Halifax reports no alteration
and collections fair. The grocery move
ment is well sustained for this season
at Montreal and orders for dry goods
are satisfactory from Central and East
ern provinces. Metals, paints and oils
are quiet and prices for cheese and but
ter are firm, with a brisk export move
ment. Business is quiet in Quebec and
collections are fair. Wholesale trade
IS active for the season at Toronto and
the weather has been favorable for har-
Vestlng. Both wholesale and retail bust
ness is SLOW and collections are poor
at Vancouver while local trade is re-
ported fair at Victoria, with northern
shipments very satisfactory.