Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1901-06-29
A BETTER TONE
Is Seen in All Business Lines
Says Bradstreet.
Trade, Crop and Industrial Develop
ments Are All Favorable.
Gain OF 40 Per Cent. in Bank CIearinqs Over
Lat Year.

New York, June 2S.-Bfadstreets, to-
morrow win say: Trade. crop and in
dustrial developments this week have
been largely favorable. High tempera
lures have aided the distribution of
seasonable goods at retail and simu-
lated recorder demands from whole
saiers, although the volume of bust
ness had been limited by small stocks.
The cotton goods situation has gained
rather than lost in strength but the
volume Of business has been limited by
the fact that sellers are not disposed
to commit themselves, largely in view
Of the unsettled outlook for raw ma
, terial prices. There is also a better
tone in WOODEN goods ana this is re-
f1ected in firmer quotations for the
finer grades Of raw material.
Boot and shoe shipments are well up
to the maximum. again exceeding 16o,-
600 cases from Eastern points for the
week, while the margin in favor of this
years shipments continue TO grow.
The volume Of business done in cot
ton goods during June was very en-
couraging. Immense stocks of print
cloth at Fall River have been moved
and the close of the month finds these
goods quarter cent higher with bleach
ca goods. brown goods ana other pro-
duets in exceptionally light supply at
frmer prices though il is not denied
that some of the movement in print
cloths was made at an actual sacrifice.
Raw cotton is a quarter cent higher on
the week largely because of the better
tone in the manufacturing trade but
also because Of the outlook for
Strengthened supplies during the bal
ance Of the old crop year The new
crop. despite improvement is still
backward and needs favorable con1i-
tons from now on to Justify extremely
large crop views. based upon the in
creased acreage. Plain wooden dress
goods continue TO be in good demand
and mems wear woolens have been re-
ordered in excess of anticipation.
Prices. except for the leading cereals
and cottons. show little change. Early
liquidation. due to continued favorable
crop reports. gave way to a firmer
feeling in wheat and corn because Of
renewed advices Of crop impairment in
Europe. but weakness on liquidation
succeeding. lost al of the gain. Corn
moved in sympathy in wheat but with
a net advance on the week. however.
Reports as to bank clearings and
failures continue encouraging. al
though liabilities have recently been
swelled by a few heavy suspensions.
A retrospect of the half year is on the
whole quite encouraging.
Textiles certainly finish the season
better than they begun. and the same
is true of boots and shoes and allied
trades. iron and steel. lumber and a
number of other lines.
The building trades are all active
and large quantity of material Is
passing into consumption. Prices Of
lumber at the East are well
maintained.
Chicago reports business in the first
half of the year fully up to expecta-
tons.
There IL q better tone to business at
the South. Advices from Boston are
rather more cheerful than for some
time past. Fine woods are in better
demand and dealers report it easier to
obtain prices which short time ago
We're refused
Failures for the week number 1856,
against 1S8 last week, 1S5 in this week
year ago.
Bank clearings for the week aggre-
gate $2.1S0,242.5A, a decrease of 81 per
cent. from last week, but a gain Of 40
per cent. over last year.
Hot weather has enlarged recorder
business by Toronto jobbers. Fall or
ders, too, have been of good volume.
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