Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-11-09
THE SUGAR MARKET.

THE SUGAR MARKET.
Raw sugar is more active, particularly at
New York and Philadelphia, owing to the
reduction of 3-16 to Il cent and treer offer
ings. More favorable European cable ad-
vices do not sustain prices SO far. Refined
is in better request, and shaded on some
grades. Cotton goods are in liberal demand
for spring delivery, with prices, notably
print cloths, brown sheetings and drill
ings. tending upward. New York and Bos-
ton iobbers are quiet or dull; at the former
city holiday specialties are active, and
cooler weather has slightly improved the
demand from near by and city retailers.
Wool is in fair demand at unchanged prices
at seaboard markets. Raw cotton is 1-16 to
3-16c higher, except at New York, on
smaller crop estimates and good demand.
Increasing stocks have depressed New York
spot prices &c.
Business failures reported to BrGdstreet's
number 248 in the United States this week,
against 251 last week and 177 this week last
year. Canada had IS this week, against IS
last week. The total of failures in the
United States January 1 to date is 9,631,
against s, AL in 1888.
R. G. Dun & Co.'s weekly review of
trade says: The business outlook continues
TO improve. Ali the news this week is
favorable to the public. Even the de-
cision adverse to the Sugar Trust. and the
exposure and proposed reorganization in
Cotton Oil are hopeful signs. The monetary
situation has decidedly improved, here and
abroad, and while the Bank of England
rate is still held at per cent, money is
quoted in open market at 21& per cent.
SIGNS OF ENCOURAGEMENT,
Most of the increase in payments comes
from legitimate business, for speculation is
still restricted, except in trust stocks. These
began to rally, but were met with the de-
cision adverse to the Sugar Trust, and tie
disclosure that over half million had been
lost for Cotton Oil stock holders in attempts
10 sustain the market. Other securities
have been stronger since the election, the
reported agreement about Western rates
having good effect, but the tone is not en-
thusiastic.,
Speculation in wheat was temporarily
stimulated by an unofficial publication by
Mr.. Dodge, the Government statistician,
putting the probable yield at 485, 900, 900
bushels. Whether the paper had left his
hand before the official returns indicating q
larger acreage and yield were made up, no
one seems to have asked. But the lowest
estimate would leave the supply for export
much beyond the largest foreign demand in
recent years and the net result for the
week, has been decline OF three-fourths of
a cent, with sales of only 10, ,0OO, 900 bushels.
Corn is an eighth stronger and oats three
fourths, but pork is halfa dollar and lard
half cent lower.
THE ADVANCE IN OIL.
Oil has advanced 4 cents with moderate
trading, and coffee is unchanged. The
merely nominal price Of raw sugar has been
made actual, the trust having entered the
market as a buyer, at AZ cents for Musco-
vado. 55s cents for go centrifugal, but re-
fined shows a decline of an eighth.
1t can only be reckoned sign Of improve
ment that wool has yielded about 1 cent per
pound since the concession has induced CON
siderable buying. Manufacturers hold that
no advance iSpossible IN heavy woolens, and