Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1901-07-20
IL Is REMARKABLE.
General Business Holds Up in
Spite Of All Setbacks.
Neither Strikers, Hot Weather Nor
Droughts Can Stop Its Progress.
Foreign Trade, Last Year, Was Most S aiisiac.
tory in Our History.

Co.'S weekly review Of trade tomorrow
will say.
! Anxiety regarding unfavOrable Gro,
possibilities in the future rather thai
any actual present misfortune, de
pressed securities and caused cancel
latiOn of some orders for merchand
by Western dealers. Retail distribution
Of goods Will not he curtailed by the
labor controversy unless it is of loni
duration. In some agricultural dis.
tricts where there is fear that little
com will be harvested. preceding bum.
Fer crops at good prices have put
farmers in such prosperous condition
that their purchases will not fall of
materially. while the greatest crop OF
wheat on record has not brought a
return to the low prices of previous
heavy yields.
feyond advancing prices of stee
sheets and depressing the market FOR
TIN. quotations have not been affected
by the strike of the ANA lgamatcd AS
location. An early settlement is con
, fidently expected, and there is much
relief over the general collapse of the
machinists' strike. In anthracite coal
regions work has also been interrupt
ed but the recent exceptionally heavy
output assures abundant stocks for
some time.
Wooden mills are more generally ac-
tive than at any time this year. ordes
for heavy weight goods arriving in
large numbers. The light weight sea
son will soon open and although 1t is
expected that concessions Of from to
10 per cent. from last years prices " i'll
b. made. there is prospect of profita-
plr operation unless the raw material
should advance. Some uncertainty is
seen in the wool market. sellers max
ing futile efforts to secure better
terms and ultimately accepting bids at
former figures. The tone is distinctly
ti,mer and stocks at mills and in ware
houses decrease.
In cotton goods the situation is I'M
changed. There was a decline in cotton
below So cents. followed by slight re-
covery as news from plantations failed
to show the desired improvement. For
eisn consumption is light Judging by
reduced exports and port receipts Of
the old crop are still liberal These
arc the depressing elements that keep
prices II. cents below last years
Stability Of prices seem assured in
the foot wear industry. The firm tone
is sustained by the steadiness of leath-
er and buyers are not seeking conces-
sions. Factories are running fun time
With orders on hand for months ahead.
Fall orders arrive freely and many
New England producers refuse new
contracts. less allowed to make deliv-
cries at their own convenience.
Mems heavy goods are in especial re-
quest and buyers as a rule are taking
a better grade of goods than formerly
Local jobbng is improved and stocks
of summer goods in Wholesale hands
are so low that little will be carried
over
Limited supplies of leather makes the
market very firm. Hides are fairly
steady. Calmer counsel prevailed in
the grain markets. exaggerated dis
patches We're discounted. and vari-
atoms in quotatio We're extensive.
Failures for the week numbered 1893 in
year. and 81 in Canada against q last
year.
Foreign trade during the year ending
Jane 80, 1901, was by far the most sat
isfactory in the history of the United
States. While the aggregate of bust
ness transacted with other countries
reached the unprecedented amount of
$3.50, 413,oI1. it was by no means the
best feature.
II is in the excess of sales over pur-
chascs that the years record stands
out most clearly. exports exceeding inn
ports by $50. 900.0ll on merchandise
account alone. while net exports OF
sI7 sol. 139 silver must he added to show
the fun credit balance.
After deducting net imports to ST.
342 332 in gold. and making the custom
airy allowance for frcightS, interest and
tourist expenses, il is probable that
more than $3.50 900, 600 of American Sc
curities were purchased from foreign
holders.
Dun's Heview, tomorrow, Will say 81
Canadian trade: st. John reports trad
quiet but not more so than usual a
this season, though the prospect +"
lumber is not very good. Countr,
payments are satisfactory. Hea
causes relaxation in business at Hall
fax. but building operations are pusho'
! and materials in good demand. De
preston in foreign lumber markets af
fects trade. The lobster packing i
poor but hay crop abundant. Trade |
quiet at Hamilton but manufacturer
! busy on fall orders and crops othe
than wheat promises well.
Wholesale trade is rather quiet a
| Toronto but jobbing active and GO
prospects bright. Business is favor
| able for the season at Montreal an
collections satisfactory. a very heav
/ hay crop is being made at Quebec bu
, wholesale trade is quiet. Victoria re
ports trade only fair and collection
eli