Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-01-16
DUN'S REPORT
Speaks Well Regarding Lead
ing Manufacturing Lines.
Conservatism Still Marks Course oil
Cotton Market.
The Resumption Of Idle Steel Plants
Is Encouraging.

New York, Jan. 15.-R. G. Dun q
Cos. Weekly Review of Trade, tomor-
row. will say:
Reports OF improvement in the VOL
urre of business outnumber unfaVor-
able DISPATCHES, although the situation
Is decidedly irregular. AS the money
market becomes easier there is better
prospect Of postponed work beng re-
sumed. Only fair reports are received
regarding the leading manufacturing
lines. Many iron and steel plants nave
resumed but the preceding curtailment
was very severe.
"Textile fabrics are as badly unset
tied as ever, lower prices Tor new lines
Of woOiens proving disagreeable sur
prise to the many small operators, and
speculation in cotton rendering forward
contracts for goods an impossibility.
Railway earnings for the first week OF
January decreased per cent. which
is not surprising in view of the severe
weather. Only moderate improve
mcnt which has appeared thus far IN
the demand for iron and steel products,
although the resumption of idle plants
has attained encouraging proportions.
Conservatism still marks the course
of both buyers and manufacturers of
cotton goods. Undoubtedly cOnsump-
ton Is gaining on production but there
is no inclination to anticipate require
mcnts Further moderate advances In
quotations are asked by the mills and
small orders are placed. quick delivery
being asked in every case. There IS
nothing in the jobbing demand to war
rant this idle machinery so that 1t is
difficult to find any alteration in the
situation. 1t is notable that spinners
evince no disposition to secure forward
contracts, the raw material situation
presenting too much uncertainty.
Practically nothing occurs in the eX-
port division.
In stead of putting the market on q
settled basis as anticipated the OPEN
Ing Of staple woolens by the leading
maker had an opposite effect, because
prices were 5 TO 10 per cent, below the
opening a year ago. In view of the
higher raw material the market is
naturally disturbed. Footwear buy
ers have appeared in the Boston mar
ket and are placing liberal orders for
Spring delivery in the South and
West while taking some samples of
Uses as busy year as 1903. although
shipments are slightly smaller for jan
uary thus far.
After again forcing price for cotton
above IA cents, some reaction was pro-
duced by extensive liquidation. There
is increasing confidence in a high level
Of prices throughout the crop year and
even next crop options command III.
cents. yet the present situation is SD
completely dominated by manipulation
that traders and consumers are demOr-
allied.
Exports Of the leading farm staples
for December were valued at 1891
:02, which far eclipses all previous
records. In the same mouth of 1902,
the figures were 49,, 120,602.
In other articles, chiefly manufact-
ures, there was an increase of I,13S,-
255 over the same month in 1902, and
the total value of all exports surpassed
all previous records by over 100000, 900.
The net trade balance in this nations
favor for the single month of Decent
Der amounted to 500, 1884, S4, or slightly
above the previous high water mark
established in October. 1900.
Liabilities of commercial failures
thus far reported for January. aggre-
gate s4.S76,735. Failures, this week.
numbered 324 in the United States
against 2G7. last year, and "a in Cana
do compared with IS q year ago.