Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-08-15
TRADE REVIEW.
Stock Market Decentralization
Threatened Setback
But Confidence Is Restored Without
Any Serious Consequences.
The Distribution of Merchandise Is
Now Very Heavy.

New York Aug. 14.-R. G. Dun &
Co.'S. Weekly Review of Trade, tomor-
row, will say: f
Although the decentralization in the
stock market was not due to depres-
sion in legitimate trade, it threatened
to cause a setback in business by I'M
settling confidence and rendering the
money market unfavorable to the in
auguration Of new Undertakings. For
tunately the season of liquidation
appears to have ended without produc-
ing anything more disturbing than the
postponement of. several projected en-
terprises and, with the restoration Of
confidence, investors are resuming con-
sideration of these plans.
Distribution Of merchandise is very
heavy and in staple lines prices are
steady. Preparations for fall trade are
vigorous. Collections are fully as
prompt as usual for the season. Hest
tation in certain branches of the iron
and steel industry, incident to the sea-
son and aggravated by labor controV-
ersies, is indicated with same degree of
definiteness by the monthly statistics.
The week has brought no developments
in the price situation but there is
steady gain in purchases of pig iron.
Agricultural implements and machin-
cry manufacturers have secured a
further large tonnage of material.
A slight increase of the volume of
business in cotton goods is confined to
small orders for quick delivery. Buyers
still cvince no disposition to provide for
distant needs, and the meagre inquiries
testify to the fact that supplies through
out the country are much larger than
anticipated. Paucity of contracts and
excessive prices for raw material tend
to restrict operations at the mills.
A steady demand for mems wear
woolcns sustains prices, and business in
dress goods is improving. Dry goods
jobbers report fairly good buying.
The feature, this week, has ben the
liberal purchasing of heavy shoes, for
next spring. by local jobbers. All the
recent advances in quotations of boots
and shoes are fully maintained, and
the tone is firm. Both sole and upper
leather find a better market although
no large contracts have yet been plac-
ed Hides continue weak, but the
average does not exhibit the fall that
has been the rule in the recent proceed
r. ing weeks, some lines slightly rccov-
ering.
Farm products are firmly held, corn OK
hibting notable strength owing to many
private dispatches emphasizing the unus-
ually slow progress toward maturity.
Failures this week. in tho United States
are ia against IFS, last week, $50 the
preceding week and 1916 the corresponding
week. last year; and in Canada -, against
10, last week. 10 the preceding week and q.
last year. Of failures. this week, in the
United States 60 were in the East, As
South. SO West and SO in the Pacific states,
ard 66 report liabilities of $1,000 more.
Dispatches from leading cities of the
Dominion indicate satisfactory business.
At Halifax prospects are bright and fail
ures few, although there is some com
plant regarding collections at Montreal,
dry goods paper falling due was well pro-
tccted. There is a brisk movement of dry
goods and clothing. Wet weather has de-
layed haying considerably. Quebec re-
ports trade and collections good for the
season.
Seasonable goods are in brisk demand
at Hamilton, prices are firmer and general
improvement is noted. Jobhcrs in dry
goods, footwear and groceries have done
well and prospects for the fall are bright
er than last year.
Retail trade is good at Toronto, crot
prospects are excellent and the outlosk is
encouraging. Business conditions are sat
isfactory at Winnipeg and crop prospects
bright