Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1901-08-03
. LARGE WHEAT CROP.
Has Been Assured BY the
Recent Heavy Rains.
General Trade Is Brisk, An Immense
Business Being Done.
Shoes Aciire- WooIcn Mills Busy. Cotton
sN'shksr.. Lsmber Quiet

new YORK. Aug. 2.-Bradstreets to-
morrow. will say: copious rains
throughout the western half of the
country insured a large spring wheat
crop and put an: end to the talk of
absolute destruction in the corn belt.
The rush Of cattle and hogs to market
has been stopped the recent rains APP
parently insuring plentiful forage.
From the rest OF the country trade ad-
vices are in the main quite cheerful
and an extraordinarily large business
appears to have been done. Cotton
crop conditions improved at the South
with rains and trade advices are more
cheerful. Lines of trade most active
are groceries. particularly canned
goods, produce generally. leather and
hides, wooden goods. finished products
Of iron and steel and building mater
ials, while cotton goods are quiet but
firmly held.
Shoe manufacturing is active and
leather is strong. particularly for
heavy varieties of sole. Medium
weights are in active demand. Hides
are steady at the East and ten up at
Western points. The wooden mills are
filed with orders for fall delivery and
the spring weight, season has opened
encouraSingly. Wool is being taken in
liberal amounts by the manufacturers
and is firm. Cotton is weaker Su-
gar is irregular and rather slower in
demand. Lumber is rather quiet, in
sympathy with the advanced stage of
the season but prices for white pine
are firmly held.
The natural reaction due to liuuida-
ton has weakened wheat aided by
good spring wheat crop reports, record
breaking receipts of new winter wheat
and the turn in the tide of visible sup
plies. The foreign crop situation ap-
pears no better. Corn. after the sharp
break of last week has steadcd up and
near the close of the week was close to
the highest point reached. Conserva
tive Western cstima ties point to a crop
not exceed 1920. 600 GOO bushels. Oats
have weakened with wheat and flour
is also weak and lower.
Exceedingly duh conditions. attended
by some sagging in prices prevailed in
She New York stock market. Bonds
are firm and dull. Government sccu-
rites are well held. Foreign exchange
is strong. demand sterling being quot
ed at a.S1' :. it being thought that some
gold may be despatched from New
York to Germany.
Bank clearings for the week agSre-
gate 81. 80. SOL SEQ. a decrease of 10 per
cent. from last week and a gain of 81
per cent. over this week. wear ago.
Business failures in the United
States for the week were 100. as against
1879 last week.
Failures in July were slightly more
numerous. II per cent. heavier than 1T
June of this year but liabilities were Il
Der cent. smaller. while as compared
with July. a year ago. the NUMBER Is
slightly larger and the liabilities. ow-
ing to the inclusion of two large banks
in New York. show an excess of 90 pei
cent.
Warm weather influences limit trade
in Canada, but a good fall business ha:
been done and shipments on this ac'
count are liberal. Ontario grain crop:
arc not turning out as well as expect
cd owing to dry weather but divers 81
Hcatjon of industry and the large
number of new enterprises going for
ward is expected to help general trade
while it limits the supply of farm labor
Manitoba crop prospects are So"u an
with dry weather. a yield oil o'.uo"'""
TO 60 O00. 900 bushels OF wheat is iookc'
FOR in that province. Canadian GEAR
jngy for the month of July aGgreGht
s165 ia25e4. and for seven month
amount to 81 .057. -? lSa. gains OF re
spcctively 2l.3 and Ia per cent. owe
last year Failures for the month mum
her III. with liabilities of StNS.eSi. al
Increase of Il per cent. in numDer AM
an increase Of per cent. iiabiiitie
over July, n year ago.