Daily Kennebec journal., 1902-04-26
BAD WEATHER
Has Had Its Depressing Effect
on General Business.
All Sections Except New York Show
Increased Bank Clearings.
Cotton Mills Behind With Orders
Canadian Situation Good.

New York, April Pr. G. Dun &
Cos. Weekly Review of Trade, tomor-
row, will say: Versatile weather has
produced erratic fluctuations in prices
and affected business very differently,
according to locality. The extremes
were blizzards and oppressive heat,
with every intermediate variety. AS
the future prosperity of the railways is
more or less dependent upon the crops,
the vagaries of the weather were quick
ly reflected in the markets for securi-
ties, as well as in option sales of grain
and cotton.
Retail distribution of merchandise
has maintained good average. Manu-
featuring plants are well employed, ex-
cept where wage disputes interrupt.
The average of commodities advanced
Transporting interests maintain their
wonderful record, railway earnings
thus far reported for April exceeding
last years by 5.2 per cent? and those of
1900 by 1872 PEP cent.
Speculation still makes the compari-
son with last years clearings unfavor-
able at New York, where there is a de-
crease of 14.0 per cent. for the week Z:
but compared with 1899, the largest pre-
ceding year, there is a gain of $50 per
cent. The increase in legitimate trade
Is shown by gains at other leading
cities of so per cent. over last yar's
bank exchanges and $50 per cent. over
1899.
Most large consumers of pig iron have
provided for their needs we'll up to the
end of the year, and consequently there
is little change to report in the situa-
tOn. Lumber and building materials
are having the usual spring activity.
Manufacturers of cotton goods are
still behind with deliveries and acthive
machinery is assured for some time to
come. Labor disputes have been tenn
porarily adjusted, making the out put
very heavy as compared with recent
weeks when the strikes were causing
interruption. New orders are small
Quotations Of cotton goods are firmly
held, the strength of the raw material
giving support. Independent woolen
mills are working night and day. Stocks
or certain grades are low and deliveries
delayed, but others are in ample stlppIy
Wools moves slowly and in some in
stances prices are shaded, but as a rule
holders insist on full figures. Foot
orders and shipments from Boston con.
tinue to decrease.
While the prospects for full WELD
of wheat are less bright than they were
week ago. the sharp rise i'm price
must he attributed in. part to skillfu1
manipulation by interests recently
prominent in the stock market. Ex-
ports from the United States. including
Hour. were 4041, ,614 bushels, against g..
433.9S1 last year, shipments being main
ly of wheat purchased before the adj
vance. Exporters made few new con
tracts at the higher prices. Atlantic
exports of corn fell off TO $40, 237 bush
els. against 1,275,156 in 1901. Meats
were well sustained. Cotton rose tc
the top point of the season on light re-
ceipts and reports of reduced acrea ge
Not only has the planting season been
retarded by bad weather. but there is
evidence that grain will be largely sub
stituted. owing to high prices of the
past season.
Failures for the week numbered 2ts
in the United States. against 215 last
year, and Is in Canada, against 26 a
year ago.
Canadian trade: Early spring weather
at st. John has been helpful for deal
ers and farm implements, while in dry
goods and shoes sorting orders are fair
with a good demand for staple hard
ware and provisions. Halifax reports
the spring demand for hardware heav-
ier than usual, but in dry goods an6
millinery trade is light. Groceries sci
freely and collection is fair. Whole
sale trade has improved at Toronto
groceries, teas and canned goods be
ing especially active. Dry goods, hard
ware and metals are selling well, bu
sugar is dull.
Although the weather is little COO
- at Montreal for, summer goods, tn
millinery openings were well attended
Hardware and metals move briskly an
there is an active export trade in sol
leather and calf skin.
~ Trdde is fairly brisk at Quebec an
~ collections good. Trade is fair at Van
couver. with a better volume Of north
ern shipments. but collections continu
slow. Business conditions are unsatis
factory at Victoria, and collection
quiet.