Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-09-07

up to the average, and the supply of money is
ample for the demand, though there is a
slight tendency to hold off for better rates.
HEAVY BUSINESS.
AT Omaha and st. Paul heavy business
continues, and at Kansas City there is an
increase, with money at all these points in
fair supply and collections fair. The de-
mand is brisk at Milwaukee, but the supply
ample; at Detroit collections are better and
business increasing with the close of the
long drought. At Cleveland there is great
activity, especially in ore and pig iron, and
the demand for ore seems to have actually
exhausted the supply for the season.
At Pittsburg and Philadelphia improve
ment continues in the iron business, and
glass is fairly active, as are liquors, drugs
and chemicals at Philadelphia, and build
ing permits for the year thus far have been
7,451, against 5913 to date last year. But
trade in wool and coal is dull. At Boston,
however, wool is selling more freely, 2,672,-
900 pounds for the week, largely of Mon
tana and Ohio fleece, at some concessions
in prices, but more confidence is felt.
Leather is in active demand, and boots and
shoes are steady, with the factories we'll
supplied with orders until October.
The improvement in iron and steel is
general at Philadelphia and Plttsburg, but
large buyers hesitate here, and No. pig is
still quoted at S17 to SIS, with rails at $28
to S28 so. The
DEMAND FOR BAR IRON
is heavy, and prices have advanced.
Though the production is enormous, it is
realized that cost OF making iron is advanc-
ing almost everywhere, and meanwhile the
remarkable rise inprices abroad shuts off all
foreign competition to an unusual extent.
The coal trade does not improve, however,
and the vote to restrict September produc-
increase of orders. Copper is weaker
abroad and apathetic here, though offered
for future delivery below present syndicate
prices. Tin has been weaker at 20H cents
for spot, and lead stronger at cents
The attempt to hoist wheat on extrava-
CANT estimates of the European deficiency
and demand has not been success, and the
price has declined TX cents for the week,
with sales of only 1000, 900 bushels. That
Europe will want more wheat than it did
last year is obvious, but this country has
great deal more to sell. Corn also tell
cent, with sales of Z, 900. 900 bushels, and the
continued exports, reaching 5000, 900 BUSH
els for four weeks Of August have an i'm
portant bearing on the probable price of
wheat. Oats were also shade lower, and
oil declined 11s cent with small transac-
tions.
Sugar has gone still lower, but at the de-
cline some increased demand appears. Pork
has been steady, and hogs higher, while the
spectators in coffee have raised the price to
1917 cents. During the past week there has
been great activity aud general advance
in stocks. under the exceptional stimulus
afforded by treasury disbursements.
NOT so MUCH SURPLUS.
The Treasury cash holdings have been
reduced over S15, ,00O 600 since week ago,
partly in payment for bonds of which con-
offers are still made daily, and
partly in the disbursements incident to the
beginning of the month. The effect upon
stocks has been an advance of 81 15 per
share Ill the prices of q dozen active securi-
ties and moderate advance in the rest of
the list, with the failure of one operator on
the wrong side of the speculation. Both in
imports and exports the increase over last |
year continues enormous, and the rate of |
foreign exchange has advanced to 4.Ss; the |
bank of England its minimum at 4 per |
cent. The general level of prices of COM
modities is shade lower than September l, |
The business failures number POI, as COM |
pared with total of 211 last week, and 206 |
the week previous to the last. For the cor
week of last year the figures
were 224