Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-08-29
Pessimistic Prophecy Of De-
preston Not MateriaIized.
Merchandise Moving Well and Pros
poets of Buying Are Good.
Shoemen Busy-Cotton Situation Mo
6etter-WooIens Quiet.

New York. Aug. 2S.-Dun,s 1yaal,ly
REVIEW OF Trade will say, tomorrow
There is still no indication of the de-
preston in trade and industry that
pessimists predicted would follow the
decline in securities. Dispatches from
all sections testify to the liberal distri
button of merchandise and tho disno-
sition to prepare for greater consumn-
ton OF all the necessaries Of life while
the crops are making good progress
aside from some cotton districts in
Texas. Trade is quiet at Boston owing.
to the indleness in textile mills al
though paper mills and shoe shons are
busy. The number of BUYERS in New
York is increasing and heavy fall
trade is anticipated.
1t is gratifying to find that CONSUME
ers of pig iron have at last apparentlv
decided to place contracts without
waiting for further concessions The
decline has now reached its limit.
Judging by the larger amount of con-
tracts offered. and this is the most i'm
portant indication of a restoration to
normal conditions of prosperity in the
steel industry.
There is sufficient business on the
goods of New England shoe manufact-
urerS to assurance operation of ma
chlhelY several months. Buyers are
now out of the Boston market after
having sampled freely of next SPRINGS
goods. New orders are still arriving,
by mail, chiefly in supplementary lines
o. mems heavy shoes. Jobbers are now
urgent for delivery of fall goods order
Ell some time ago, as Wholesalers are
Dehind with deliveries and retail stocks
are running low. Quotations are fully
maintained by the urgency of custom
ers.
Domestic hides again average slight
ly lower, owing to heavy receipts of
cattle. Thus for the liberal jobbing
trade in dry goods has not affected the
situation at the cotton mills where the
percentage Of idle machinery has in
creased. New business is confined to
Imperative requirements, but these are
increasing to some extent. Quotations
of staple prints are firmer, and print
clothes rose an Fights after ruling I'M
changed for several months, While the
raw material advanced sharply Ex-
port trade in cOttOns is dull Woolans
are quiet, and the only event of inn
portance in silks was Il special sale at
low prices
In the markets for the great farm |
staples cotton has again monopolized. |
by those most familiar ]
with the situation, pressure was
brought to bear on the short ac-
cunts during the closing days of Aug |
1st and Inadequate supplies outside
he control of the clique necessitated |
n making settlements. Rumors of in
nry from insects and weather werel
RELY circulated to facilitate the ad-
I9nce, but there was little encourage
ncnt to holders in conditions at man
lfacturing centnrS. New cotton comes
o market very slowly, which is not
in view of the assured late
making poor comparisons with pre-
eeding years.
Failures. this week, in the United
States are 116, against 23S, last week.
"A in the preceding week, and 1873 in
he corresponding week of last year.
md in Canada, 20, against eight, last
week. - in the preceding week, and IA,
asst year.
Dispatches from the Dominion of
,anada testify to 4 better volume of
rade than last year, With farming re-
urns especially satisfactory and firm
':ices secured for crops. |: