Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-11-07
A LITTLE DULLER.
General Business Not Holding
Up to Expectations.
Some Large Lines That Should Be
Vigorous Are Now Idle.
Railroads Representation Mill:
Start--Iron and Steel Dull.

Co.'S. Weekly Review of Trade, tomor-
row, Will say: UnseasOnably mild
weather is making is possible for farm
ers To secure much late grain and cot
| ton that seemed doomed by early frost,
but, on the other hand, trade is dull in
heavy wearing apparel fuel and many
| lines that should now be vigorous.
While in the long run this business
may be made up and the nation will
be benefited by the increased crops the
immediate effect is unfavorable. Man
ufacturing activity has increased at
cotton mills and several minor indus
tries. but in iron and steel there are
more idle furnaces and mills.
The railways continue prosperous,
earnings for October surpas sing. last
wears. by CO per cent. Bank exchang-
IS at New York for the week We're 26.4
per cent smaller than year ago, but
at other leading cities there was gain
of 81 per cent. Disappointment has
been experienced by those which be-
licved that quotations for iron and
steel would go on lower.
With the extensive restriction OF
blast furnace activity. there is reason
to lock for steadier markets in the near
Aut"'N' .'i''t iii otoliodl lliV iIiuSlt v, IL
is believed that large contracts will be
placed whenever buyers are satisfied
that no better terms can be antcipa-
ted.
Less pronounced conservatism is
shown by purchasers of cotton goods
and there is evidently more desire to
secure deliveries without looking for
concessions in prices. This is natural
Al
ial. which had tended downward from
the termination of the speculative
movement. Not only are buyers seek
ing goods for immediate delivery, but
there is more disposition to place con-
tracts for future shipment.
Wocien goods are even more adj
Versely affected by higher temperature,
saleSmeE on the road meeting with lit
tie success and supplementary orders
come in slowly. Many New England
shoe factories have concluded full bus
mess and are taking inventories, but
others are rushing work for importu-
nate jobbers. In about two weeks
spring cutting will be general and in
the meantime shipments will probably
decrease. The years total forwardings
from Boston are so far ahead of any
previous record that there is no pros
pect of falling behind: and similar con-
| ditiors ere reported ait other footwear
centers.
Another week of mild weather has
| facilitated agricultural operations and
materially augmented the size of crops
secured. More speculative activity de-
veloped in wheat, with an aggressive
campaign for the short account that
attained certain measure of success.
Insolvencies We're unusually numer-
Gus in October with an abnormally
heavy Indebtedness both as to mercan-
tile and fiduciary concerns In strictly
commercial lines there We're 1886 suS-
pensions, with liabilities of $1S,3S7.5G1,
compared with 9G3 failures for $10,-
S51,534 i'll the same month, last year.
Banking suspensions numbered q,
with liabilities of $13.0S4,633. against
only 10 a year ago for s3,432,37C. Man
ufacturing bankruptcies We're BIG in
number $11,995,369 in amount,
against c517. last year. involving $780,
1877. Trading failures numbered 100
and involved liabilities of $5,536.129.
compared with 652 for $4,649,552 in
October. 1902.
w me inc tSillDit IS extremely I'M
satisfactory, it is not necessarily an
indication Of n severe setback in the
industrial world. because many of the
failures can be traced to special influ-
ences, such as speculation and strikes,
which are no longer menacing business,
and with the stimulus of n profitable
agricultural season there is reason to
lok for better collections and revival
of activity.
r. G. Dun & Co. report 246 CONNER
cial failures, this week in the United
States. against 253. last week, 279 in
the preceding week. and 1888 in the
corresponding week. last year. Liza
hilities of commercial failures for Oc-
tober were $1s.387 567, against sl0S51.-
'34 for tho corresponding period of last
year. Failures in Canada. this week,
number -. against Is. last week, &c in
the preceding week. and 81, last year.