Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-11-30
ESPECIAL TELEGRAM TO THE DISPATCH,

restrict the volume of trade. Hogs are lower
on heavy receipts at the West. but pork and
lard, under a fair demand, have been firm
at moderate advances. Eastern Texas mills
are shipping lumber to Central and South
America.
Stock speculation is disturbed and prices
depressed by the prominence of financial
and currency questions among the probabil-
titles OF the coming Congress. A judicial
decision against the validity of the Chicago
Gas Trust causes depression in the trusts,
and weakens the general market. Money
st New York is firm and inactive at 6(9I
per cent on call. Foreign exchange is quiet.
Demand sterling 81 S43<@4 IS. Values OF
October merchandise exports were The
largest for any month on record with one
exception, exceeding by 81 per cent the total
for September, 1889, and by 81 per cent that
for October, 1888.
THE BALANCE IN OUR FAVOR.
Imports also show a large gain. but the
exports total exceeds that for imports by 58
per cent. For ten months the total value
Of exports is less than totals for like periods
in 1888 and 1887, but imports for ten months
of 1889 are largest on record. Nearly all
lines of trade share in the increased export
movement.
Iron and steel markets maintain their
strength without noteworthy changes. The
output is very neayY; there are practically
no stocks in hands of producers, and con-
sumers with moderate supplies for near
wants are watching the course of the market.
Rolling and structural iron mills, bridge
iron and pipe establishments are rushed
with work. Copper is quite strong at late
advances, some cash sales being recorded at
13Z9l4L cents.
M r.
from both coasts show a further decrease
this week, being 1,70S,732 bushels against
1,S69, ,462 bushels last week and !, 704, 81
bushels in the last week of November 1888.
The total shipped abroad from July to
date is A., 524, 513 bushels against 45, III, 81
bushels in a like portion Of 1888, and &C..
OO0, 900 bushels in 1887. Depression in
breadstuffs continues Flour is off and Is
cents per barrel on heavy receipts and offer
ings. Wheat, at the close of inland water
navigation, has also been hurried forward,
but on light export demand is T(91c
lower. Offerings of Indian corn have been
so free that the improved demand did not
prevent decline of 2s95Sc.
THE CORNER IN CORN.
A speculative twist at Chicago ran the
price from 331<c to sc. Demand for oats
is light, and ptees are Nc lower. The
present outlook Ndor the current cereal
wear is not favorable for exports Of wheat
(including four) III equal those of 1889,
when they were 100000 900 bushels. The
crop of 1889 promises an export surplus this
cereal wear of 1IB, ,OO0, 600 bushels, even if
10000, 900 bushels are to be carried over
next July.
Mail orders constitute leading share of
demand with New York and Boston jobbers.
-. ,I,,.~, L.
ness in cottons, export demand being en-
larged. Woolens are only N fair move
ment. Print cloths are l-l6c higher. with
quiet business. Raw wool is more active at
unchanged prices. Cotton is dull and steady
at unchanged values.
A falling off in arrivals of raw sugar at
primary markets, stimulating advices from
Europe, urgent requirements on the part OF
Tefners, and only moderate offerings bv
holders, hardened prices 1s@Zc. The Phil
adelphia SpreckelS refinery was to start up
to-day with abundant supplies of raw, after,
as alleged, selling at good profit some OF
Its supplies of raw to competing trust es-
tablishments" Some extensive contracts of
refined ran ahead Of production, and prices
advanced 1Sc. Speculative prices of coffee
remain about steady.
Business failures reported to Bradstreet's
number 255 in the United States this week,
against 259 last week and 268 this week last
year. Canada had 36lthis week, against "a
last week. The total of failures in the
United States January to date is 1882,
against s, 166 in 1888.
DUN's WEEKLY REVIEW.
R. G. Dun & Co.'s weekly review SAYS:
Two heavy fires, with aggregate losses esti-
mated at SIS, 0O0, 900 or more, may have an
influence upon several branches of trade
which cannot yet be estimated. Heavy con.
current losses may shake some insurance
companies and affect the finances of firms
burned out. But the general prosperity and
the large accumulation of available capital
will probably render the influence OF these
disasters comparatively narrow and brief.
In other respects the situation is quite as
encouraging as it has been for some weeks
past; the volume of business is unsurpassed.
and the pressure in money markets, though
not ended, has seemed to be abating else
where.
The reports from other cities are, without
exception, favorable on the whole Trade at
Boston, prior to Thursday, had been i'm
proving. Cotton was strong, with mills
well employed, and prices strengthening; in
metal manufactures firm, with wide distri-
button of products.
IRON PRODUCTS.
At Philadelphia iron products are in
strong demand, bitumInous coal active, an
thracite dull. Money was tight, but with
prospect Of ease after 10 days. Western
cities, without exception, find trade good,
though grain is moving very slowly at Mil
waukee, and mild weather affects sales of
winter clothing> Money is fairly active,
but nowhere stringent at Western points re-
porting, and the accounts regarding collec-
tions are better than usual. Stock receipts
at Kansas City are lighter, but shipments
OF live hogs to Mexico. lately stopped by
high tariff, are resumed.
Speculative markets have not been very
active. With sales of 80, 0O0, 600 bushels
here, wheat has declined nearly cent and
corn about half cent, with sales of 5.0OO,-
600 bushels. Cotton is unchanged, though
receipts this week exceed last years by 16.-
600 and exports by $4,000 bales, and sales
have been 37S, 900.
Coffee has not moved, but oil has dropped
nearly cents. Pork products are a little
lower and sugar is stronger in tone. Rubber
had advanced little, new Para selling at
721< cents.
A BOOM ABROAD.
A great boom in iron abroad, with SPEC
ulstiVe excitement rarely witnessed, and |
rapid fluctuations in prices causes some ap-
prehension, because experience teaches that |
such rapid and excited movements are usu-
ally followed by ugly reactions. The un-
paralleled production in this country still |
continues, and other furnaces of large pro-
duction are about to 60 into operation, and |
yet prices are firm at Philadelphia.