Daily Kennebec journal., 1910-08-06
BUSINESS BETTER.
Than Appears from the
Principal Markets.
But Trade Is Still in a State
Of Transition.


view IOIh, aug o.-buI weekly
Review of Trade will say tomorrow:
Business conditions are irregular and
at some points unsatisfactory. and vet.
while falling short in volume and
profits of that state of buoyancy, that
existed at the beginning of the year,
it Is better than the superficial aspect
of the leading markets makes it ap-
pear While it is evident that the
country is carrying on a large busi-
ness, the latest bank clearings show
ing gain of 3.5 per cent. over 1909
and of 23.7 over 1906 outside of New
York, yet the situation as a whole in
dicates that trade is still in a state
of transition and readjustnent
With the report on cotton and fur
ther curtalment of production there
has been a further hardening of prices
in cotton goods, and in general the
stability OF the trade is more statis-
factory than it's condition of activity.
Wide print cloths are now firmly on
the basis of 5h cent. for CAS-, 55s for
6Sx73s and SIS for 72x76s. Narrow
cloths are in better demand with sales
made at 3as cents for 27-inch 64x6Os
while heavy brown sheetings are about
a cent higher.
The demand for printers, converters
and the manufacturing trades, who
must anticipate their wants, is better,
but jobbers still buy conservatively.
Spot trade with the far East is slow.
Spring openings on wOolens and wor-
steds have not been attended with any
keen buying yet. Buyers are numer-
Gus in the central markets and opera
tions are still very conservative
Money and credit conditions infu-
ence conservatism. but the shrinkage
of Supplies and continued firmness of
raw materials serve to induce abun-
dart confidence in the stability of the
market. New orders for footwear
come in slowly. but New England
PLANTS are fairly we'll engaged and
manufacturers have a considerable
volume of reserve contracts on hand
The price question retards new
business somewhat. The leather mar
ket is still awaiting one and business
is restricted in most quarters. Sole
leather is in better shape than upper
stock. as the unsatisfactory conditions
ruling in splits has had depressing
effect on upper feathers. Trade in
domestic packer hides is less active
but sufficient business is consummat-
ed to advance the market about half
cent on all varieties and packers are
now holding out for an additional half
cent increase which has served tc
again check inquiry.
| Common varieties OF foreign dry
| hides are well cleaned up at slight
Il ,.l ,rrl,
| ter stock is in fiiTner position thar
a fortnight ago with somewhat more
hrsincSs b ING effected. Failures this
e.ti - ,E,e iiritHl states are 22f
aih 't3 i4:;! year. Failures in Can
ala number IS against II last year.
Bradstreets state of Trade tomor-
row will say of conditions in Canada
A satisfactory settlement OF the
strike on the Grand Trunk Railway
has been reached. and as a result the
congestion of foreign traffic has beer
| relieved, and in turn wholesale trade
has become more normal. Montreal re-
ports a very encouraging crop out
look, especially for hay Orders fol
fall dry goods from the Northwestern
market made up goodly volume. and
fairly good business is coming from
travellers in the dairying districts
where high prices are being paid foi
both butter and cheese. Collections
are very slow.
Toronto reports that wholesale deal
ers are doing large business with
Western Canada. where it is stated
crops will be the equal in value to
those of last year. Country trade is
good and in most districts collections
are satisfactory. Building operations
are brisk.
Business failures for the week end
ing with Thursday last number IL
which compares with Al for last week
and q in the like week of 1909