Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-11-29
THE GRIND RESUMED.
Business in Full Swing This Morn
ing as if Nothing Had Happened.
WHY MANY PEOPLE GAVE THANKS.
Real Estate Should be Very Carefully
Handled to Avoid Imitation.
LARGE PROFITS OF COTTON FACTORIES

It is presumed that about 10000, 600 Peo-
ple-citizens of the great Republic-gave
thanks in some way yesterday for the mani
fold blessings and mercies which the Good
Father had showered upon them during the
year of which Thanksgiving Day was the
fitting close. No nation enjoys the bounties
of Heaven in degree equal to this. 1t has
neither war, pestilence nor famine. Busi-
ness of all kinds is prosperous. Peace ana
plenty prevails throughout the land 1t Is meet
to be thankful for these things.
Business win be resumed this morning.
Brokers will assemble at the Exchange to Watcn
the tendencies of stocks and oil; fnanciers Will
gather at the banks to discuss the money proD-
lem, and real estate dealers will resume the
struggle with obdurate customers, to induce
them to buy or sell, and by way of diversion
listen to many narrowing tale told by dlssatlS-
fed tenants. All Of these great interests, oor-
mant for a day, will be in full operation this
morning.
Although THE DISPATCH has on many occa-
sions pointed out the danger Of an imitation OF
real estate values, the warning cannot be TOO
often repeated 1t would destroy the marker,
by causing buyers to withdraw. They can
stand the advance that must necessarily take
place as a consequence of the expansion OF
business and population, for they reap tnelr
proportion of the benefits of it. but to reverse
the conditions and make enhancement precede
expansion would impose burden upon them
which they could not well carry.
The strong and healthy demand is a guarantee
against reaction. The only thing to guard
against is imitation.
A bond specialist says: 1.-THE investment
market paper is dull. The high rates obtain
able for money naturally cause some selling OF
hlgh-grade bonds. The demand for such Sc
curities is scattering, and seems to proceed
from private investors. The inquiry Of this
character appears to be increasing, and the ap-
pearance of freer offerings of desirable securl-
ties is not attended by any concession as to
prices.
Many of the cotton-manafacturing corpora
tions located at Fall River have held their an
nual meetings within the past few weeks and
the reports of operations submitted make
very gratifying exhibit for the stockholders
Fifteen establishments, representing S9,3lOOOO,
have in the aggregate earned s., ,867 792 net dur
ing the year. The earnings by the Granite
Mills-the corporations recording the heaviest
ratio to capital invested-have been S72s per
cent and the Union Mills have earned 331% per
from 20 to Is per cent, and the average amount
earned by the Is corporations reaches 20 per
cent.
This is certainly very satisfactory result
Yet even the above does not represent fully
how profitable the manufacture of cotton
goods has been in Fail River during the year
now drawing to a close, for in almost every
factory improvements have been made and
depreciation in existing plant allowed for, all
of which has been deducted from earnings,
and the above net is the years result after
such reduction
General trade continues large and active,
though IN few special lines the tone appears
to be somewhat quieter. The iron and steel
industry is not one CT these, for the reports all
agree in saying that the greatest activity pre-
walls and that prices are firm and further ad-
yancing The Western markets are specially
excited, and it is there that the tone is strong
est. 1t seems strange that with nearly all
other industries in such state of animation
the anthracite coal trade should still form an
exception to the rule. But such is the fact.
Of course, the mild weather experienced all
through the year, as compared with very severe
weather in 1888, accounts for this condition of
things. Still, even with this drawback con-
tinued, it hardly appears possible that the
soon produce a change for the better.
Nathaniel 8. Jones' prominent stock broker
Of New York. says the speculation Is too linn
tied to induce outsiders to take any interest in
it, and adds: 81 do not believe there is any
excessive short interest in any particular spec
ialty, Stocks may go up point or down a
point; that is about all there is in the market
at present"
A London letter says: We are again threat
ened with a dock dispute. Many of the vessels
that come into the Thames are unable to come
up to London to unload They, therefore,
trans-ship their cargoes to barges, which are
navigated by lightermen, and by them brought
up to the wharves and warehouses. The light
ermen are constituted by act of Parliament q
close corporation. and in fact enjoy a monop-
oly. When the dock hands struck the lighter
men also struck out of sympathy, but while
the dispute continued they put forward claims
on their own behalf.
FINALLY it was decided that the questions at
issue between the men and taeir employers
should be referred to Lord Brassey as arbi-
traitor. BE has awarded an increase of pay,
but he has remained silent on the question
whether one job is to constitute a nights work.
The men insist that it must; the employers
maintain that it is impossible The Lord
Mayor and Cardinal Manning have been re-
quested to use their good Offices, and they, in a
letter to the employers and workmen, have de-
clared in favor of the mems demand and urged
a conciliatory policy upon the employers"
An oil specialist says: True it is that very
little outside trading is INDUCED in and even to
the professional trader the market, as at pres
ent constituted, is devoid of interest But on
the other hand it must be borne in mind that in
the absence of speculative interest the market
has held steadily about the point of 81 10 until
within day or two-held there by the un-
doubtedly strong statistical conditions which
have gradually forced up values from the
nineties of the summer months to the present
elevated figures. And the market is fitted with
a ratchet attachment apparently which pre-
vents any slipping back beyond certain point
1.-THE question is still open as to what will be
done in few months when the visible supply
of petroleum will be nil, for in less than a year
at the present rate Of consumption the pipe
line companies will be drained of their entire
stocks. 1t will take phenomenal field to pre-
vent petroleum famine, and this field has been
feyerishly sought after, but all efforts have
failed to develop anything like staying terri
tory"