Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-04-09
MUCH DESIRED
Although Commercial Condi-
tions Have Improved.
Regular Review Of Trade by Dun's
Commercial Agency.
Cotton Developed a Little Strength
Only to React.

New York. April S.-R. G. Dun &
Cos weekly review Of trade, tomorrow,
will say:
Commercial conditions have i'm
proved somewhat during the past week,
although there is still mitch to be de-
sired. Dispatches from the South are
most encouraging. Special reports on
that section testify to increased bust
ness and more prompt collections than
are found elsewhere. At the East more
seasonable weather prevailed, yet
spring trade is still below normal The
best news of the week was the settle
ment of many labor controversies. or
at least resumption of work pending
arbitration. New strikes have com
menced. although not rendering idle
nearly as many hands as have resumed
work.
Manufacturing returns are still con-
fusing, notable improvement in the iron
and steel industry being offset by less
favorable reports regarding textile and
footwear factories. Agricultural wOrl.
progresses rapidly under better than
average conditions. cotton being plant
ed unusually early. 1t is good sign
that the month opened with prices of
commodities less inflated. but the posi-
ton is still above normal and not cal
culated to stimulate consumption. For
cign commerce Mt this port shows Il de
crease of S456.9S9 in value of merchan-
die exported, as compared with the
same week last year. and Il loss OF
s3S3oG2 in imports. Money remains
abundant and easy. despite moderate
g Of 81 INT oI
banks report loans and deposits far
above all previous records.
TRANSPORTING interests are OvercOn-
ing freight congestion, wi,ilc railway
earnings in March We're only = per
cent. smaller than in 1903 and largely
SURPASSED AL preceding years. Hank
exchanges ut New York were 1i.1 per
cent. smaller than in the same week
last year. while at other leading cities
there was d gain of ~ ncr cent. I'm
prOvcmcnt in the iron and steel indus
try IS Il certainty New business is
constantly coming forward, and gradu-
ally idle plants resume. AT n large
number of Fail River mills production
is curtailed to four days week, max
ing a decided extension OF the waiting
policy, and rs a practical protest
against the high price of raw cotton
and protection against accumulation of
stocks. Many spnners have sufficient
cotton under contract to continue ac-
lively engaged, hut the fear that pres
ont prices for print cloths cannot be
maintained naturally cOunscls caution.
Buyers are not Influenced by the new
departure. however. and orders show no
pr,I.-
provided by the sale of Il few thousand
bales Of drills for export to China and
these were taken at concessions. Dizziness
still characteriZes the market for wool
cnS. tho little new business being large
~ due 70 cancellations Of previous or
dcrs.
Eastern producers Of footwear receive
few supplementary orders for spring ana
summer SHOES. although confdcnc, is fit
in brisk business with warmer weather
Meanwhile there is no disposition 20 hur-
~ work under contract. and many cut
ting rooms are idle awaiting returns from
statesmen row in Western states
Brighter crop prospects in wheat rails
ing state" had a tendency to remove part
loI the premiums that have been charged
of late and the absence of foreign de-
nand also significant factor In
stead Of thc expected increase in exports
war in the Orient has been accompanied
by Il smaller shipment from this cnun-
try than ut any recent time. Speculative
interest is crratic. several small drives
a gainst the short account proving tempo
rarily effective. but there is no sustained
support in any section of the grain mar
kct.
Cotton developed Il little strength, only
to react on the announcement of more
dlertSs at FAN River mills.
Failures this week numbered ID in III"
United States against 1g7 last year. and -
in Canada compared with - a year ago.