Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-08-31

reports generally remain
.thout serious frosts for
Ior.n... the Indian corn crop promises to
be the heaviest on record.
Stock speculation at New York is becom-
ing more active, and values advance on the
improved financial situation and the crop
and business outlook. Bonds are firm with
better activity. Money at New York is
easy. and call loans are down to 31z(94 per
cent, as compared with 5(96 per cent last
week. but time is held firmly at 5 per cent
and better. Elsewhere at financial centers
nothing like stringency is reported. For
eign exchange is firmer on the advance of
the Bank OF England discount rate to per
cent. Easier money here also affects the
market. Demand sterling ut u S120
4 S7A.
There has been more activity in domestic
grain markets. Flour has sold more freely
for home use and export at full prices. The
Vienna congress estimate of 15 per cent de-
fciency in European crops advanced wheat
prices here cents per bushel. This was lost
later, but wheat retains an advance of one
eighth OF a cent on the week. The interior
movement of winter wheat has not met ex-
pectations. BrddStreet's London corre-
spondent reports the United Kingdoms
probable import requirements tor the coming
wear at 147, 900, 900 bushels, and the Conti-
nent's 40, ,OOO, eco bushels
MORE THAN LAST YEAR.
with 23O, ,OOO, 900 bushels total imports re-
ouirements for all Europe within the next
wear. This he does not believe can be Sc
cured at prices as low as they now are. Corn
is Z95kc lower this week on heavy move
ment at the West. Oats too are &c of and
in active demand. Exports of wheat (and
-four as wheat), both coasts, this week equal
Q hne ehal nSf he
last week and 1885,. I'll bushels in closing
week of August, 1888. Exports since July
l equal II, ,041 900 bushels this year against
1876, 81 bushels in 1888.
Advances in freight rates on iron and steel
are to 90 into effect East on Tuesday and
West on September 16. The Western ad-
vance is about % per cent, and covers all
points in the territory of the Central Traffic
Association. Demand for crude and finished
iron and steel continues quite active,
although many of the larger consumers
have fair stocks. Crude tends higher at the
West The anthracite coal market con-
tinued congested, and production will be
curtailed next month, with prices un-
changed. Copper is steady under the new
agreement. Petroleum is off 34c, declining
to show any appreciation OF the sensational,
though apparently reliable, report of the
failure of the Russian wells at Baku.
DKYGooDS LINES.
Drygoods jobbers at New York and Bos-
ton are actively employed, and commission
men report a moderate trade. Cotton and
wool dress goods (printed calicoes, ging-
hams. soft wool dress fabrics and notions)
are relatively most active with New York
iobbers. Prices are not changed. Print
cloths are weak on increasing stocks and
slow demand. Other cotton goods Except
L. i. Ill
as to stocks. More confidence is reported in
the woolen goods trade, notwithstanding
shut-downs of various mills. About the
usual amount of orders for spring-weight
goods is reported. Trade in blankets is bet
ter than for several years, and Improvement
in the clothing trade is reported. Lack of
remuneratiye orders and narrow margins
render raw wool duller than usual at this
date. Prices are 1z@1c lower than two
weeks ago. Antwerp wool sale advances
are strong.
From the activity noted last week raw
sugar has relapsed to stagnation, which
freer arrivals and offerings Of importers fail
to relieve. Demand for refined, too, is verv
slow. Raw sugar at New York is off Ne,
and refined is shaded. At San Francisco
granulated is &c higher. LIGHTS conti-
mental beet crop estimates are again re-
duced. Inability to discharge vessels,
owing to the strike at London docks, has
advanced sugar there Cd. Brazilian coffee
markets are frmer on reports OF drouth.
Domestic and European markets are also OF
firmer temper. At New York prices are up
3-5c.
Business failures reported to Bradstreet',
number 176 in the United States this week
against 2l8 last week and 136 this week last
year. Canada had 21 this week against Is
last week. The total of failures in the
United States January ! to date is ,603
against s, ,72l in 1888.
DUN's RENEW.
R. G. Dun g. Co.'s weekly review Of
trade: Last weeks suggestions in regard to
the monetary situation have been entirely
sustained by the events of the past week.
Those who held large amounts of Govern
ment bonds were induced to sell freely at
prices formerly paid by the Treasury, which
has thus been enabled to pay out about
$50, 900, 900 tor bonds. But these heavy dis
bursements have scarcely changed at all the
market for commercial paper at Boston or
at Philadelphia, though speculation has
been rendered more active, and sharp ad-
vances in stocks and wheat have resulted.
The Secretary's belief that bonds to a
large amount could be obtained at the prices
offered has been justified, and he has done
what he could under the law to prevent
monetary pressure. But the money dis
bursed seems likely to relieve speculative
rather than commercial needs, at least until
other operations besides the one in Govern
ment bonds have been liquidsted. Stocks
have advanced just 81 so per share in a
week, and 1,200, 900 shares have been sold
already at the rising prices. As yet the
money for bonds has not actually gone out
of the Treasury. and its cash holdings are a
little larger than week ago, but its de-
posits in banks $500, 900 less.
Business in all parts of the country con-
tiuues to improve with the stimulus Of large
crops. Chicago reports immense increase