Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-03-09
BUSINESS Is BETTER
In Many Sections of the Country.
Notwithstanding General
COLLECTIONS ARE STILL SLOW.
Iron Slightly Improved, but Disturbed by
Readings Failure.
BRADsTREETS AND DUN'S REPORTS

increased movement in the volume of bust
ness except at Kansas City, Louisville, st.
Joseph and Chicago, where drygoods and
groceries, and boots, shoes and lumber have
been in better request. The Inauguration
ceremonies may have had some little inhu-
enee In checking trade, as is reported, but
probably less than did the Mardi Gras car
nival at New Orleans.
The Southern country roads are almost
impossible, particularly in Texas and
Louisiana, and mercantile collections re-
main slow and unsatisfactory except at
Chicago. At Boston wool is inclined
toward weakness; at New York fruits and
furniture are in quite active sale and West
ern centers report an improving demand for
hardware and lumber. From most direc-
tions word comes that general business is
fair only.
Stock speculation at New York is mar
rowed by fears of financial complications
arising from the copper situation and talk
of further rate troubles. Bear manipulation
has been rife, and prices tend to weakness.
Bonds are strong, and prime investments
scarce. Money at New York is shade
harder in anticipation of spring demands.
Call loans 211@3 per cent. Foreign ex-
quiry. Demand sterling, 81 887494 SO.
THE COTTON STOCKS.
Reports to, BradstreePs from 2,774. CORES
pondents. at 2, ,449 towns in cotton States
show total stock held on February e. 1889,
at 937 enumerated towns of 1852, ,353 bales of
cotton, against stocks at same towns on Feb
ruary 1, 1889, of 260, $50 bales. At 1,512
towns no stocks are reported. At 424 towns
Eahr
bales held, against 129, 900 bales year ago.
Reports of the percentage of the crop mar
keted on February 26, 1889, by 1858 cores
pondents, AZ per cent of the whole number
answering this question, are that no more
cotton remains on plantations, while 712
correspondents, 27 per cent of the whole
number, reports stocks on plantations of l
to per cent.
Moderate offerings of refined sugar, more
urgent demand and stimulating reports
from primary sources and from Europe,
advanced prices at . New York and New
Orleans A@3-16 cents. Refined at New
York advanced 1-16@I cent, and at San
Francisco "a of a cent The Bay State
(Trust) Refinery is reported as permanently
closed. Under the new method of con-
trolling the sugar trade, the importer of
raw is likely to disappear; the raw market
has already practically passed to foreign
dealers. Cuba really controls the situation
now, with prices ene-fourth cent above the
American market: Coffee has been in better
demand at seven-eighths of cent advance
on more confident speculation In Europe,
unfavorable weather reports and still fur
ther reduced crop estimates from Brazil,
running as low as 5000, 900 bags.
Reports to Bradstreet's of stocks of wheat
ON March 2 at nearly 1000 points of
accumulation in the United, States and
Canada, east of the Rocky Mountains,
aggregate 44,683, ,718, against Al, ,414, ,612
bushels February 1, and 81, 740, 403 bushels
January 1, 1889.
AGRICULTURAL LINES.
Wheat -four stocks March were ], ,823, 1862
barrels, against ], ,981, ,731 barrels February
1, and only 1, 1878, O24 barrels March L, 1885,
The decrease in wheat stocks since January
1, amounting to 8,056, 900 bushels, is a trihe
less than the correspon ling decline in 1888,
but stocks March 2, 1889, were 80 per cent
smaller than one year previous. Wheat
has regained the loss of the early part of the
week. Export of wheat (and -four as
whea0 this week aggregate 9O5, $40 bushels,
against 1883, ,594 bushels last week. and
1903, ,5S3 bushels in the like week of 1885,
Drygoods jobbers are active at New York,
owing to good weather and heavy drives in
dress ginghams Commission men report q
slight Improvement in the recorder demand
for seasonable goods. Prices are well held,
the only important weakness noted being
in the direction of low grade ginghams.
Woolen goods show little new life. Buyers
are conservative. The movement of goods
on orders is of fair proportions. Raw wool
is quiet, with prices rather In buyers favor,
and small stocks alone hold up quotations.
Cotton is in good demand, with prices un-
changed at New York, but higher at Liver
pool and leading Southern markets
Crude iron has been dull and unsatis-
factory East, West and South. .Bessemer
iron is 90 cents higher. Rails noninally, S28,
east, with shading probable. Anthracite
coal prices will be marked down % or
so cents per ton next week.
Business failures reported to Brddstreet's
number 221 in the United States this week,
against 243 last week, and 168 this week
last year. Canada had SO this week, against
81 last week. The total of failures in the
United States January 1 to date is 2,948,
against 2, 485 in 1888.
DUN's WEEKLY REVIEW.
r. G.. Dun & Co. s weekly review of
trade says: The failure of an important
iron establishment has checked, at least for
the moment, feeling of increasing conf
dence, which seems to have been due less to
any increase in demand than to decrease
in pressure to sell. AT Pittsburg prices
were a little better, and at Philadelphia
and New York more firm without advance.
But the Reading failure has SO changed the
feeling that buyers are likely to be con-
servative.
In bar iron and plate there is no improve
ment, and rails are unchanged. Nails are
weak, and the market for structural iron ia
slow. The coal market is also so despondent
that meeting of the companies is expected
next Tuesday, 1t is said, to reduce the
schedule of prices. But actual sales are re-
ported about 80 cents below the schedule
already. The market for bituminous coal
is dull.
The copper syndicate is supposed to have
been much relieved by the consent of the
American mines to reduce their output
from Is to 25 per cent. In February, how
ever, the syndicate had to take 10000 tons,
while the sales were only 1887 tons, and an
outlay of $1,000, 900 per month must ulti- |
mately prove trying. The price of copper
here declined only to 15A cents for March,
but fluctuations at Boston were severe In
tin there was not much change. Lead is
inactive at 81 cents
OIL AN EXCEPTION.
Oil has risen fraction, Iut coffee has
again been advanced nearly 1c to 19c, and
the market for pork products is stronger.
with mess pork 30 cents higher at $12 30. |
Alter declining sharplyto 947lc, a fall of |
&c, wheat rose to 96c on Thursday, but de- |
clined 1ze on Friday. The decline was due |
to further information of the large stocks |
remaining, in Dakota alone, according to |
the latest figures, about IL 900, 900 bushels. |
But on Thursday there was a quick ad- |
vance. Corn and oats have risen 11c each, |