Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-01-03
FAR FROM DULL.
No Falling Off in the Progress
of Business.
Purchasing Holds Up ard Goods Are
Being Rushed Along.
sagi-
Saars
Higher Freight and Lack of Coal the
Only Drawbacks.

New York, JAM 2.-R. G. Dun & Cos.
4rnerrow: Despite the interruption of a
holiday, taking of inventories, prepara-
ton Of annual reports and all the other
disturbing elements incidental to the
closing of the old year and the inau-.
guration of the new, the last week has
been far from dull. Consumers We're
not perceptibly lessening purchases,
While the approach of higher freight
rates accelerated shipments of goods.
Transporting facilities continue utter
ly inadequate, the pressing need for
fuel diverting rolling stock from other
classes of freight. At a few fortunate
points the supply of coal has increased,
but generally the deliveries are only
a small fraction of the quantity desired.
New wage scales have become effect
i've, largely enhancing the purchasing
power Of the people, which must be
reflected in an increased demand for
commodities.
The new year opens with every pros
pect of exceptional activity in all
branches of business. Railway earn
ings thus far available for December
The question of higher freight rates
complexities the situation regarding
iron and steel, but new orders are
constantly coming forward and the ac-
tivity of plants would equal capacity
were it not for the fuel shortage. All
coke workers now share in the higher
wages, and ovens are producing free
ly, yet the movement is far from ade-
quate. Quotations of all products in
this industry are fully maintained, with
a tendency towards still higher prices
because of freights and fuels. A sharp
advance in til. was due to speculation
at London, although other minor met
ais were quiet and unchanged.
No new features have developed in
the footwear situation, prices remain
ing firm and order books full. Facto-
ries will resume vigorous activity as
soon as inventories and annual repairs
are concluded. Aside from a slight re-
action in union backs, the leather mar
ket is strong, hemlock sole receiving the
additional support of exceptionally
heavy exports to Europe. Domestic
hides are dull, prices again declining.
December sailing native steers sold in
this market as low as 1212c. Stocks of
dry hides are low and quotations firm.
Textile mills are busy, with only a
hand to mouth home demand for cotton
goods, but export buying for China con-
tinues large. Since the movement be-
gan, a few weeks ago, about 100000
bales of sheetings and drills have been
taken. Overcoatings attract most at
tention in the. wooden goods division.
January notices We're 'issded in the
cotton market on a large scale and
We're absorbed with surprising readi-
ness. This prevented the decline that
the short interest anticipated and prov
ed the long account to be in a very
strong position. Port receipts are large
and. despite many gloomy reports from
the South. late cotton is still being
gathered. Wool tends upward, ship
monts to the mills continuing heavy
and inquiries numerous. No recovery
appears in coffee, while sugar is firm
because of light offerings. Receipts
from Cuba are restricted, awaiting rat
ification of the reciprocity treaty.