Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-06-04
BRADSTREET'S.,
General Trade Quiet to the
Verge Of Dizziness.
More Rain Will Be Great Help to
Cotton Crop.
Speculation in Stocks Fass, Aawaitii.g
Clearer Crop Outlook.

New YORK, June OBJ duStieee .
State Of Trade will say, tomorrow:
Pending a clearer view Of future crop
out-turn, general trade and industry Is
quiet to the verge of dullness. Crop
prospects have improved in some sec
lions, but complaints come from 9TH
ers, 80 that this situation Is as whole
still irregular. The volume Of May
business both at wholesale and retail
was disappointing.
Iron and steel, bituminous coal and
cotton manufacturing are notably quiet
for this season OF the year. There are.
however, some signs of underlying con-
fidence in future trade. These consist
OF reports Of improved inquiry for fall
goods at Southwestern, Southern ana
Eastern points, a rather better tone IN
the shoe and leather industry at the
East, active buying at full prices OF
the new Western wool clip, and fairly
satisfactory reports from the wooden
industry, notably that part dealing with
the clothing trade.
Money Is easy, but stock speculation
lags. awaiting a clearer outlook in crop
and political affairs.
The breaking Of the drought affect
ing the cotton crop in the south At
haps the most important favorable de-
velOpment Of the week. More rain Is.
however, needed there If the cotton
crop in that section is to make progress
equal to that Of the West and South
west.
Among the Industries iron and steel
aud bituminous coal note specially
marked depression.
Staples prices have generally moved
lower, this week. Cotton has displayed
noticeable weakness, liquidation Of the
July option being accelerated by bear
pressure. A loss of a full cent per
pound in spot cotton Is noted. based
upon continued poor dry goods trade
reports, continued short time in the
cotton industry, and rumOrs of i'm
pending price cutting. which, however,
are not so seriously regarded in view
of the known small stocks of goods on
hand in all positions. Wooden goods
manufacturers note fair recorders of
fall goods, and the clothing trade gen.
orally reports q fair trade. Wool is
active at Western primary markets,
the new clip being taken as fast as
offered at full prices. Some Of this
buying is by Eastern dealers, whose
supplies of old wool are short. Some
buying by smaller manufacturers of
old clip wool is noted at Boston, and a
rather firmer tendency of prices Is
evinced.
The dry goods trade is quiet, jobbins
recorder business being affected by the
unsoId stocks Of spring goods.
Stock market activity at New York
is decidedly restricted pending definite
advices regarding the crops and the
coming political campaign.
The metal markets are all rather
easy. copper, tin and lead all being
lower on the week. Cattle prices are
ut the highest prices since last Sep
tember. and sheep and mutton are also
very high, but hogs are lower.
Rather more is doing in shoes for
fall delivery at Eastern markets. but
current shipments are we'll below Il
year ago. Leather men note more In
Iuiry and export dealing is especially
good. The scarcity of russell leather
has evidently been n surprise to man.
Gfacturers, the product being in good
demand in all directions.
The Industrial situation Is rather
quiet. though the most important strike
of the year, the Lake tie-up, Is still I'M
settled.
Business failures for the week end
ing June 2. number 1914 against 157 in
the like week in 1903.