Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-07-16
Trade Conditions Gradu-
ally Becoming Normal.
But Packing House and Allied
Trades Strike Disturb Us.
The Rest of Affairs Are in Their Usual
Good Condition and It Is Hoped that
Equilibrium May Soon Be Re.
stored.

New York, July 15.-R. G. Dun &
COS. Weekly Review of Trade, tomor-
row, will say:
Trade conditions We're gradually be-
coming more normal after the conclu-
sion of political conventions. when a
new disturbing factor appeared i'm the
stike of packing house employees and
allied trades. This enhanced prices OF
meats and added many thousands to
III" already large army of unemployed.
weakening the purchasing power of the
people still further. Aside from this
unfavorable development, the news of
! the week contained much encourage
ment. crop prospects improved. and the
general level of prices for farm pro-
ducts promise a large return to agricul-
turiStS, which means better business
Tor all Industries. Preliminary returns
of exports from all ports for June show
the smallest record of recent years in
value Of breadstuffs sent abroad The
total CT all merchandise was only 81
025,712 behind the same month last
year. while the loss in breadstuffs alone
was $9.2Si,003. showing a good gain
elsewhere. Confidence is in returning
III til' security IIisti htt. IJoflk exchanges
at New York for the week were % per
cent. smaller than Il year ago, while
ut other leading cities the loss was on
ly nine per cent
Statistics of production and accumu-
lated furnace stocks Of pig iron, as
compiled by the Iron Age testify to the
extent of contraction in consumption
In June the output of anthracite and
coke iron was only in 1922 .030. tons. as
against Il ,533. $50 tons in May and vet
| merchant furnace stocks. exclusive Of
holding by the steel companies, had
increased to 1870 44 tons gain of "a
952 tons during June and 176.7S5 tons
since May /. The active capacity on
July !. was 33e.197 tons and more fur
naces have shut down since that date
, SO it is doubtful whether the current
| months output will be greatly in ex-
cess of the January figure.
Textile plants are operating some
what irregular, reduction of wages by
Fall River concerns having been decd
ed upon and this may result in the gen.
eral resumption so greatly desired. In
the primary market for cotton goods
there is a disposition to maintain quo
bids below the level recently reached.
Orders are still limited to small
quantity for quick delivery. Export
buying has again provided the best fep-
ture of the market stocks of heavy
sreetings ard drills being fairly well
cleared up. In wooden goods the week
has brought the opening of new lines Of
medium grade mems wear at about last
years prices. This fact and some re-
sumption of clothing factories combined
to increase sales. putting this industry
III q better position than other textiles.
Footwear makers are more active and
4 fair volume of supplementary fall or
derS have been closed. Tanners who
: are short of hides are una BILE to secure
deliveries OH account Of the strike. and
the situation threatens to become Sc
rious if the struggle is prolonged. This
influence is calculated to advance the
hide market and another Strengthening
factor was provided by damage Of Kan
sas City from floods.
Liabilities Of commercial failures
thus far reported for July, aggregate
81. 565 356 OF which s1.192762 We're in
manufacturing. 81, 169. $50 in trading. and
SCOOP in other commercial lines. Fail
ures this week, numbered 225 In the
United States. against 213. last year,
and 20 in Canada, compared with 16,
year ago.