Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1902-08-09
FALL BUSINESS
Is Starting With Every Indica-
ton of a Good Season.
Brilliant Crop Prospects and Good
Prices for Farm Products.
Failures Few, Liabilities Small and
Prices Steady.

\ new YORK, Aug. S.-BfaQStreetS S, to-
morrow, will say; ! Midsummer ouiet
has gone from distributivc trade and
stimulated by really brilliant croI
prospects and good prices for farm
products, fail business has begun &C
expand. Failures are few and liabili
ties small; prices are steady. (The
drift of farm products promises to !,e
downward. though SO far not so marx
ed as earlier expected.
July railway cravings returns t.
Bradstreet's ($43,1S3,S5S total for roads
| so far reporting) show per cent. gam
over last year. Bank clearings con-
tinue to show gains over last year. 1t
is 20 be noted that while the leading
interior money centers report good
supplies and confidence in ability to
give necessary aid, a larger quantity
| of money is needed this year than ever
before.
! Prominently conspicuous among the
crops is corn, which with favorable
conditions in the great surplus-pro-
ducing states, promises record break
| ing yield.
Winter wheat threshing returns show
4 better quality and larger yield than
was indicated during the harvesting
period, and the same is true of oats.
| the graz ding of which, however, will not
be as high as last year.
Though irregularity is seen in the
movement of stock prices at New York,
The Wall Street market is strong in
tone. Bullish manipulation continues.
Foreign exchange is very firm at Sass
for demand sterling. Only 100000
specie was shipped 70 Europe, q rise in
xchange rates on SLondon at Paris
checking the gold movement from New
York.
Fine prospects, large receipts and
good European crop advices all fav-
ored the downward drift of cereal. val
ues.
1t has been a weather market for cot
ton, spots and futures rising and fall
ing with weather feports. Nervous
ness as to possible August corner is
still evident Dry goods are in better
demand. At Boston boot and shoe
shipments, though larger than last
week, are still far below those of last
year. Hides of all kinds are taken as
fast as received. Higher prices for
leather products seem probable.
The weight Of imported iron is press
ing on domestic sentiment, though no
perceptible effect is yet seen on prices
for pig iron, which is still in active re-
quest for next years delivery.
Bank clearings for the week ending
August Z, aggregate $2,029, 264. 40l, de-
crease of 0 per cent. from last week but
an increase of per cent. over this
week q year ago.
Business failures for the week end
ing Aug. Z, number 1863, as against 16S,
last week, 1S5 in this week, last year,
IL in 1900, 1856 in 1899 and 1871 in 1898.
Wheat, including flour, exports for
the week ending Aug. Z, aggregate H..
PA, 363 bushels, against 4,3SS,534 bushels.
last week and S,S31,199 bushels in this
week, last year. Corn exports aggre-
gate 7o,6ll bushels. against 2S,405 bush
els, last week, and 990.71i bushels, last
year. For the fiscal year corn exports
are 1854 bushels, against S,IlS,361
bushels, last season.
| III Canada. Canadian trade is of fair
volume and the outlook is encouraging
because of good crop prospects.
| Cearings for the week aggregate S42.-
FOG, 443, q decrease of 2 per cent. from
last week but a gain of Is per cent. on
| last year. Failures for the week num-
Der IA. as against Is last week, 20 in
this week a year ago, 20 in 1900, q IN
1899 and 33 in 1898.
| New York Aug S-R. G. Dun & Cos.
Weekly Review of Trade, tomorrow,
will say that failures for the week
numbered IA in Canada against 81 a