Daily Kennebec journal., 1910-06-25
Business Confidence Is
Gaining in Strength
Advent Of Heat GreaiIy fa-
vofs Retail Trade.
Reduction In Bleaehed c0tt0ns At
tracts Unusual Attention.

New York, June 24.-R. G. Dun &
Cos, Weekly Review of Trade to-
morrow will say:
Business confidence gains in
strength as crop prospects improve
and Congress enacts its important bills
preparatory to adjournment AS IL is
natural at this season Of the year, the
weather plays an important part in
the markets Rain in the spring
wheat territory has banished the fears
of drought and confirmed the excellent
outlook for a good harvest. The ad-
vent of heat over a large section has
greatly stimulated retail trade. nearly
all of the important trade centers
making reports to that effect
In the dry goods markets reduc-
tion Of half cent a yard in bleached
cottonS attracted unusual attention
because of the announcement that
prices would be guaranteed to Octo-
ber. Buyers bought the stocks in
hand and evidenced more interest in
their fall requirements Other lines
of cottons were slightly reduced, in
particular a recession on convertible
and print cloths varying from 1-6
cents on narrow goods to 1-S cent on
wide, and this induced trading, two
purchases being made amounting to
$4,000 pieces each.
General trading showed some i'm
proVement and jobberS rebuying in
moderate quantities, but the efature Of
the business, both in Woolens and cot
tons, is the increasing curtailment of
production at the mills to avoid ac-
emulation of stocks. More favorable
weather stimulated interest at the re-
tail centerS in summer merchandise
and enhanced the trading for next
spring.
Unsatisfactory conditions continue
in the footwear market, New England
manufacturers averaging about one
half the volume of their usual bust
ness. Encouraging reports were re-
ceived from the West, however, bust
ness there being relatively much bet
ter than in the East. All kinds of
leather are unsettled. The harness
feathers are especially weak, and some
large sales were made in the West of
this variety at lower prices than at
any time since 1906.
Further weakness characteriZes the
hide market, and some of the large
Western packers are anxious to sell
hides ahead into the short haired sum-
mer season at present low prices
Sales of native skins have been made
as low as 14A cents for July selling
and lightweight native cows at IL
cents. Calfskins are also weaker with
sales of Western packer take down
to 15R cents. In Latin americans the
River Plate market broke sharply,
sales of Buenos Ayres dry hides being
made at 21 cents. Tanners show little
interest and stocks of all kinds Of raw
material continue to cumulate. Fail
ures this week numbered 219 in the
United States against PIT last year and
80 in Canada. compared with "a
year ago.
Bradstreet's State of Trade tomor-
row will say of conditions in Canada:
Warm weather has stimulated de-
mand for seasonable goods in Canada
and retail dealers except in the East
have done relatively brisk business.
Incidentally some improvement has
occurred in recorders and business in
goods for fall use is looking up
Business failures for the week ter
ninating with Thursday number &c,
which contrasts with 80 in the corre-
spending week of last year.