Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-09-21
For the Better is Now Noted in Many
Departments of Trade.
IRON is ON A MUCH FIRMER BASIS.
Stock Speculation About the Only Line
That is Suffering.
FAILURES NOT QUITE so NUMEROUS

noticeable at Chicago, st. Louis, Kansas
City, Omaha, Pittsburg, Detroit and Louis
vile. At the South, New Orleans gives an
equally favorable report, interior trade
receiving an import impetus, owing to the
free movement of cotton. At Cincinnati
trade is reported excellent.
Stormy weather on the Eastern Atlantic
coast has interrupted distribution at New
York, Philadelphia and Boston. Cooler
weather has induced notable increase in
demand for seasonabIe goods at leading
cities. Crop prospects, particularly corn
and cotton, remain very promising. Sugar
crop prospects are less bright, but large
yield is anticipated. Cattle and hogs are
more active at the West at variable prices.
Collections are fair to good.
IN SPECULATIVE LINES.
Stock speculation resisted the pressure OF
Western rate cutting and of higher money,
and even showed revived bullish tendencies
at the close of the week. Bonds are dull
and firm. Money at New York has worked
higher on small bond acceptances and q
drain of the bank reserves to the West.
Call loans per cent. Foreign exchange is
steady and shows slight decline. Demand
sterling 81 S714@4 s7Z.
Net earnings of so railroad companies for
the month of July aggregate SIG, ,182, $50,
against S13, 34S, ,727 last July, an increase of
over q per cent. The increase for the seven
months is Ills per cent Domestic iron
markets are all strong In tone, with an ad-
vancing tendency OIL active demand. Steel
rails are 81 ton higher on promising rail-
road building outlook. Nails are advanced
nd fe 4bo
late decline. Production active.
The coal trade lacks snap, but is ex-
pected to improve with the advent of cooler
weather. Talk of great coal trust being
formed is discredited.
AGRICULTURAL PRODUCTS.
Wheat speculation has been limited, with
frequent but narrow fluctuations. Early
weakness was due to adverse cables and
irregular Western markets. Later on some
strength was shown on better cables and
lighter interior receipts, on which nearly all
the early loss was regained. Corn is off IL
@24c on increased offerings and improved
crop reports. Contract oats are 1s9skc
lower on the week.
Flour was active at slight decline. Ex-
ports this week of wheat (and -four as
wheat) aggregate 2,09S, GIT bushels, against
1,426, 552 bushels last week, and 1881, $40
bushels in the like week of 1888. The total
exports from July 1 to date are %, 564, ,001
bushels, against 26,65S,3S7 bushels last
year.
Drygoods jobbers at New York and Bos-
ton report reaction from early September
activity, accentuated in some meas ure by
stormy weather on several days of the week.
Foreign dress goods have been in active
movement at New York. The movement to
fill orders on jobbers at the latter market
has been unprecedentedly heavy. Agents re-
port trade quiet to dull. Prices are well
held. Print cloths stocks are growing. but
values are quotably unchanged. Bleached
goods are in especially good tone.
SLIGHTLY MORE ACTIVE.
The Boston clothing trade is slightly
more active, as are also foreign dress goods
at New York. Wool is inactive at seaboard
markets. Buyers and sellers are wide
apart as regards prices. Spot cotton is
duller and 1sc lower, but speculation is
more active and 2O@3O points higher on the
near months contracts, owing to the squeeze
of September shorts. Crop movement is be-
yond previous records. Prospects regarded
as good.
Coffee speculation has been active but
bearish in tone, with decline of L09Sc on
contracts Holders of actual coffee are firm,
Reports of accumulation at interior points
are received. Sugar is N@Lc higher on
improved consumptive demand. Provisions
are steady and firm except pork, which is
stronger on better export demand, Choice
grades of butter are &c higher on better de-
mand. Ocean frelghts are in good demand
on account of corn and -four. shipments.
Business failures reported to Bradstreet's
number 100 in the United States this week.
against 100 last week and 17S this week last
year. Canada had 81 this week, against II
last week. The total of failures in the
United States January 1 to date is 6, ,126
against z, ,1S0 in 1888.
DUN's WEEKLY REVIEW,
R. G. Dun & Co.'S weekly review of
trade SAYS: Throughout the country the
state of business is encouraging and the
only disheartening features are in counec-
tion with speculative operations Stocks
have not quite maintained the recent ad-
vance, the chief cause being the Western
railroad wars. Speculation in breadstuffs
and cotton has been at a slightly lower
range of prices, with but moderate transac.
tions, and slackness of the consumptiye de-
mand causes q weaker tone in coffee and
sugar markets without material change in
prices. Oil speculation is shade stronger
and provisions steady.
AT Boston conservative feeling still
rules the money market, and business has
not wholly recovered from recent set backs,
but is improving in wool and steady in
leather and lumber At Philadelphia the
jobbing drygoods trade continues good, and
the grocery trade improves, exceeding last
years. The paper trade decidedly reyiyes.
the liquor trade is active and drugs and
chemicals moderately active, but in wool
there is very little movement. AT Chicago
there is decline in receipts of wool and of
grain, higher prices for wheat, leading
farmers to hold back, but large increase in
provisions.
BETTER ALL AROUND.
For the year thus far trade exceeds last
years. Milwaukee reports constantly i'm
proving business. Kansas City reports
business and collections fair average for
the season, and Cleveland increased activity.
especially in iron and ore At Omaha
great crops give good business and collec-
tions, and at Pittsburg further improve
ment is seen in Bessemer iron and steel. in
coke and in coal, with a resumption of the
glass works at 5H per cent higher wages.
Southern prospects also are all encourap-
ing as to crop prospects and present trade.
There is no stringencY in money, the sup
ply being ample for legitimate needs. For
eign exchange has dropped half cent and |
possibilities Of gold exports appear more re-
mote, while merchandise exports for three |
weeks exceed last years by 80 per cent,
the increase in imports meanwhile being |
but 3 per cent. The Treasury also has been SO |
managed that its actual holdings of cash are |
$500, 900 lower than last Saturday. Thus far |
the New York banks have been able to meet |
all demands for the interior without dis |
turbance, but it is not forgotten that the de- |