Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-02-22
ESPECIAL TELEGRAM TO THE DISPATCH. ]


NEW YORK, February 21.-Speeial tele
grams to Bradstreet'S are not, on the whole
indicative of a general improvement il
business throughout the country. AT New
York, st. Louis, Chicago, St. Paul anC
Boston there has been relatively most i'm
provement, in seasonable staples only. A
Philadelphia gains are noted in few lines
but there is no noteworthy activity. Al
San Francisco, Omaha, Louisville, st.
joseph, Cleveland and Memphis general
trade is about steady, and at Galveston and
New Orleans, where wet weather has inter.
fered notably, and at Kansas City, the
movement of merchandise is less active and
not so satisfactory.
Coal at San Francisco has dropped 50 pei
ton. Australian wheat reports promise an ex-
port surplus of only 8, 500, 900 bushels, against
1O,5OO,OOO bushels year ago. Louisville re-
ports exceptionally heavy Indian corn re-
ceipts and shipments, with lack of cars to
supply demand. ST. Louis says the snow
in that region is helping grain and fruit.
Reductions of wages of ironworkers ranging
from 5 to 10 per cent are reported from
Reading, Birds boro, Pottsville. Pottstown
and other points in Pennsylvania.
IRON IN A BAD WAY.
Lack Of orders is the reason generally
given. Competition of Southern iron is ad-
vanced by one mill The number of men
affected by the reduction exceeds 8, 500. The
prosperity of New England textile concerns
is indicated by the fact that several i'm
portant concerns are enlarging capacity for
production. While the interstate railway
agreement hung fire. stock speculation
hesitated, but when at the close of the week
1t seemed likely to fall through, the market
broke and bearish influences became pre-
dominant. Bonds continue strong.
Money is easy in spite of the resumption
Of gold shipments to Europe. Call loans
are 1902 per cent. Foreign exchange is
high and firm on the absence of either COM
mercial or stock bills. Demand sterling
81 S634G4 SO. 1t is evident that the extra
railway mileage of 1887 and 1888 to some
extent proved burden instead of benefit
last year. The gross earnings of 95 railroad
companies in 1888 were S622, ,659, 427, an in
crease of $40, ,403, Ia, about 8 "A per cent over
those of 1887, but net earnings aggregated
only S202, 544, GIL, decrease of SI4, 4S1, 1896.
or 6-1O per cent
Drygoods for spring and summer are in
fairly active jobbing distribution at New
York and Boston. Agents note only a
moderate demand, with fair movement re-
ported on previous orders, and export cot
tons notably active. Print cloths are quoted
Lice lower on slight accumulatPn of stock,
but manufacturers are slow to sell. Cutting
of prices by iobbers at New York continues
to be noted. Boston jobbers are not as much
interested in this direction as those of New
York. Wholesale clothiers report trade
active, but the aggregate demand is limited
by small individual orders.
CUTTING PRICES.
Price concessions are being made to move
sccumulations. Foreign goods are fairly
active, with silks moving in largest in rela-
tive volume. Light stocks of raw wool and
strong foreign adviees keep values firm.
The actual demand is light Raw cotton is
l1-16 cent higher on the statistical position
manipulation of March delivery and good
demand. Wheat has not changed materi-
ally since February Is, even with large pur-
chases at Akron, Buffalo and other milling
centers, to cover requirements, and con-
tinued confidence Of the bulls at Minnesota
Chicago and New York.
Flour is unchanged, and dealers are
firm. Exports Of wheat are exceptionally
small, owing to a heavy decrease of the
Pacific coast shipments. The total exports, as
wheat equal 666, 900 bushels, against 1,27O,-
7S5 bushels last week, and l, 796. S39 bushels
in the like week of 1888. Heavy buying by
millers continues. Hog products,
in sympathy with the West are weak and
declining. Cattle and hogs are In liberal
supply and weak at Western centers, with
few exceptions. Raw sugar has been in
light demand, and prices are unchanged.
Advices from primary markets favor hold