Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-05-16
FAR FROM PERFECT
But the Business Drawbacks
are Considered Temporary,
Optimistic Views in About All
Branches Except Cotton.
Winter Wheat Production Will Be
Largc--Shoe Business Lively.

New York. May 15.-Bradstreet's. to-
morrow, will say: Weather and labor
conditions have been far from perfect
for the progress of retail trade, plant
ing operations and growth, and build
ing, but the tendency to regard these
drawbacks as merely temporary is still!
present. Wholesale trade, naturally
quiet at this season also reflects these
features. but so great is the confidence
in the future outlook that, except in
the case of cotton manufacturing and
building, where the cost of raw material
or of operation has been pushed to al
most prohibitive heights, optimistic
views still rule. Railroad operations
are very profitable, April showing
gain of IA per cent. in gross receipts,
which follows steady and increasing
gains made yearly in that month since
1895.
Capital has been sought to be made
in the stock market of the weakness OF
pig iron and reported decreases in
Steel but the latter is denied, ana
while production of iron is now in I'M
precendented volume reliable statistics
Of stock show no accumulation. Early
estimates of winter wheat production
have been modified, but the prospect is
sure that the heaviest yields OF FORMER
years will be exceeded. Desire to Sc
cure wage advances is largely at the
bottom of numerous strikes occurring,
this week, but opposition to union die
tation is the moving cause of the great
lockout in the building trades at New
York and strikes and lockout at other
cities. The Lowell strike drags it's way
along, but the prospect of the opera
tives winning has been further away
by the confessedly Improbable bust
ness in cotton spinning at present
prices.
The cereals are slightly higher as
whole.
Present prices and reports generally
from the South back up the impression
that an increase in cotton acreage, va
riously estimated but reaching close to
} per cent, is not improbable. There is
a feeling that the cotton prospect at
present increased acreage excluded, is
not equal to that of last year Export
business in this staple has been disor-
ganized by the advance and April re-
turns of the country's trade rs whole
suffer thereby. While cotton is = cents
pound flSnef imam IL year dSo, PRINT
cloths are &c. lower and curtailment or
operations is freely talked of by mill
men. while buyers and sellers of cotton
goods are deferred from operating.
A favorably situated trade at present
is that of shoes. Eastern shipments of
which show an increase of y per cent.
over this week. a year ago, and ii per
cent. for the season and also noting an
increase over the record year of 1901.
A moderate business is doing in hides,
but firnness is the rule. Dress wooden
goods are reported moving well, while
mems wear are quiet but q slight i'm
provement in tone in this line is noted.
Business failures for the week num-
Der 1872. against 175. last week, and 100
in the like week of 1902.
In Canada trade conditions through
out the Dominion have materially inn
proved.
Business failures for the week Is in
number. compared with Is last week
and % in the week, one year ago.