Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-02-16
YOU CAN JUST SEE IT.
Bradstreet's and R. G. Dun & Co.
Find a Slight Change for the
BETTER In GENERAL BUSINESS.
Wheat is Rather Bullish and Will Probably
Go Still Higher.
IRON MARKET CONTINUES INACTIVE

ESPECIAL TELEGRAM TO THE DIsPATcn.l
NEW YORK, February 15.-Special tele-
grams to Bradstreet's report the movement
of general merchandise, chiefly drygoods,
clothing, groceries, boots and shoes and
hardware, rather more active than last
week; at some points, Philadelphia, Kansas
City, Chicago, Boston and Cleveland,
notably SO. At New Orleans relatively the
most active general trade is reported,
chiefly in food stuffs and plantation opera
tions in Louisiana. At most northern
centers the steady colder weather isresponsi-
BILE for the improvement noted in business
In Southern Texas wet weather and heavy
country roads continue to check trade. A
San Francisco correspondent wires that the
estimated California wheat export surplus
on February was 8, 500, 900 bushels.
At New York general trade is, if any
thing, rather quieter. In groceries trade is
of lighter volume; while in seed leaf
tobacco, building materials, leather, rubber
and stoves trade is reported dull. In hard
ware, paints and drugs it is quiet to fair.
Cigar manufacturing is in excess of year
ago. The furniture and upholstery trades
are active. Coal is frmer with colder
weather.
RAILROAD FEARS.
Fears that the Western railroad agree
ment might fail, and liquidating ten
dency in Burlington stock held the bullish
temper of the speculation in check, though
there were many advances in special securi-
ties and a firm feeling at the close on better
prospects for the pending arrangements.
Fridays market was strong, Burlington
having signed the agreement. Bonds are
firm, though less active. Money at New
York is easy. Call loans 1902 per cent.
Foreign exchange is higher on the sb-
sence of commercial bills and buying by
foreign stock houses. Demand sterling,
s. 88A94 SO. The total bank clearings at
40 cities for this week aggregate 81, ,073, 49,
514, decrease offs per cent as compared
with last week, but an increase of 1858 per
cent over the like week last year. During
the crop year, July 1, 1888, to date, we have
exported SO, 900, 600 bushels of wheat in-
Guiding four, against 81, 500, 900 in a like
portion of 1888, decrease of %, 500, 900
bushels, and S3% per cent. We have ex-
ported "a, 100, 900 bushels from Pacific and
SO, 75S, 900 bushels from Atlantic ports with
in 33 weeks ending February a.
The total exports this week aggregated
1,270,7S5 bushels, less than 100, 600 bushels
increase over the preceding week. The
evolutions of the wheat market suggest
milking" by Chicago and New York bulls.
1t is evident aside from direct speculative
influences that apprehension also sustains
prices.
HIGHER WHEAT EXPECTED.
The crops in Australia and the United
States were small, and the public do not
care to decide to what extent Russia and
India, with stocks abroad, can make up the
deficiency by selling freely for forward de-
livery. Northwestern millers and others
are sure that wheat must go higher soon,
and promise that -four will not lose sight
of it.
Spring and summer wear drygoods are in
increased distribution by New York and
Boston iobbers. The demand in nearly all
leading lines ranges at fair to fairly active.
Foreign goods of similar character are also
quite active. Commission men report trade
only moderately active. Print cloths are
1 1-16c lower on reduced demand. Spot sell
at 4c and future at 8 15-16c. Cutting of cot
ton goods prices by jobbers has greatly
abated. Brown cottons are rather easier
with agents, but aside from this the market
is generally firm. Woolen mems wear goods
for the fall are selling as freely as heretofore
this year.
Raw wool is dull and unchanged, the
lightness of stocks constituting tie only sus-
tanning feature as regards values. Manu-
facturers' profits are limited at present prices
of the finished products. New clip pros
poets continue favorable. Raw cotton is
%c lower on heavy crop movement, point
ing to the realization of the larger esti-
mates.
IRON IN BAD SHAPE.
The iron trade is still unsettled, and prices
are much depressed. The development of
the iron and steel industries of the South
continues, and several new furnaces are
projected. Lake ore companies have de-
layed business by not fixing prices for the
season. The anthracite coal market
promptly corroborated our report OF last
week by admitting growing stocks, delayed
and declining orders and restricted produc-
ton. The outcome was cut prices from ESQ
40c per ton. The mild winter has much to
do with the decreased consumption.
The Louisiana refined sugar product hav-
ing been about closed out, domestic re-
finers elsewhere have become more hopeful
as to the position of and outlook for refined.
A fair aggregate trade left the price steady,
with some grades &c under last week. Raw
sugar is frmer, and has moved in larger
volume. Fair refining is up 1-16c. Coffee
has been irregular and dealers have moved
with extreme caution in buying supplies
Notwithstanding persistent reports of a
short Brazilian crop, the visible supply in
that country continues to increase, and the
movement from first hands is quite free. 1t
is believed that Rio and Santo stocks have
been understated.
Business failures reported to Brddstreet's
numoer 311 in United States this week
against 265 last week and 243 this week last
year. Canada had 46 this week, against 46
last week. The total failures in the United
States from January / to date is 2,182,
against 1929 in 1888.