Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-04-11
DUN'S REVIEW.
Business and IndustriaIRevieW
of Past Week.
The Prospects are Very Bright for
Large Crops.
Textile Industries Are Still Adverse
Factors in Trade.

New York, April 10.-R. G. Dun &
Cos. Weekly Review of Trade will say,
tomorrow:
Lower quotations in the stock market
than at any other time since October,
1901, do not signify depression in BUSH
ness. The law of supply and demand
must prevail. Compared with the high
record for stocks, last September, the
so most active railways have declined
1885 per share on the average and the
volume of new securities offered to in
vestors has proved greater than the
available funds could assimilate. Aside
from the prevalence of strikes and the
possibility of further interruption to
Industrial activity next month on this
account, the business outlook is most
gratifying.
The prospects are bright for large
crops. Despite some unfayorable
weather Easter retail trade has been
heavy and jobbing activity in summer
fabrics indicates expectation of a vigor-
Gus consumption as the season adj
vances. Railway earnings in March
increased 1873 per cent. compared with
last year. With the volume of specu-
lation about half what it was a year
ago it is not surprising that bank ex-
changes for the week at New York
show a loss of SIS compared with 1902.
At other leading cities there We're
gains of "a and 6.3 per cent respec-
lively.
In the textile industries there are
still adverse factors, notably the Ia
Dor controversies at cotton mills.
Lowell mills are idle but thus far the
threatened strikes at other points have
been averted. Beyond a moderate re-
vival of export business for China,
there is no increase in the sales of cot
-on goods, both sellers and buyers
awaiting some more definite Informal
lion as to the future. Another rise in
the raw material threatens a shut
down at several mills which have light
supplies and few contracts. Manufac-
turers of mems heavy weight woolens
and worsteds receive few new orders,
except for filling out sample lines and
the situation is practically unchanged.
Thus far, fall business is below nor
NAL and clothiers are now seeking large
supplies of material. Wool has been
'airly steady since the month opened,
but none of the March decline is re-
covered. New business is small at
Eastern shoe factories, but this is sea-
sonable, and no apprehension is felt.
Moreover, current shipments are much
heavier than a year ago and activity
is assured for at least two months af-
ter work begins on fall contracts.
Leather is in better demand, the strike
at Chicago tanneries stimulating pur-
,hases. Domestic hides have lost part
Of the recent recovery and imported
skins are also somewhat cheaper
Liabilities of commercial failures for
the first week in April aggregate ST.
$50, 1873, of which $743,314 were in man.
ufacturing; $93S,092 in trading, and
S29S777 in other commercial lines. Fail
ures, this week, numbered 1877 in the
United States, against 1913 last year,
and Is in Canada, compared with 10
year ago.
Canadian trade: Business conditions
at Quebec are without important
change, except that bad roads in the
country districts retard collections.
Unfavorable weather retards spring
trade at st. John, but great building
activity is contemplated and difficulty
Is anticipated. in securing sufficient la
Dor Wholesale trade has improved
somewhat at Toronto; there is a fair
sorting demand for summer dry goods
and travellers send in large orders for
autumn lines, while payments are sat
isfactory.
A return of wintry conditions fol-
lowed by soft roads affected Easter
trade at Montreal, but retail payments
on the 4th were prompt. Shoe factories
are busy and groceries and heavy
goods move freely. Prospects are en-
couraging at Winnipeg and retail trade
is good. Business is hampered at VAN
-couver by strikes and collections are
slow.