Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-19
,srEcrAI 7zLEeRAM TO THE pIsPArcH.i

grams to BrddStreet'S indicate slight
check in the movement of goods to con-
sumers from several points, notably Chicago,
Philadelphia, Boston and ST. Joseph. But
on the whole the volume continues to ma
teriaIly exceed that moving at the CORE
spending time last year, and is especially
noticeable at ST. Louis, Omaha, st. Paul,
Kansas City and Louisville Collections
are active or prompt at a Jew of the cities
heard from.
The largest weeks business on record at
Kansas City has been done at that place.
The sugar season has opened in Louisiana.
Farmers in various portions of the North
west are holding grain for higher prices.
High rates for money at New York limit
share speculation and open the way to bear
manipulation.
IN SPECULATIVE LINES.
This tendency is checked somewhat by the
successful progress of the Atchison reorgan-
ization, and by a cessation of depression in
the trust shares Bonds are dull. Money
on call at New York is about 10 per cent,
and the supply funds limited. Foreign ex-
change is low and dull on scanty inquiry
anu lT6c OucTlIkS Va COAhACAS4oA- DSAAoAN
sterling s. S5k(04 S5s4.
Reports from Sc railroads of gross and net
earnings to BrddStreet's for August show
gain OF 9.S per cent in gross and of 229 per
cent in net over August, 1888. From JAN
uary to August 81 IS railroads show gains
of57 per cent in gross and 15.4 per cent in
net over the same eight months last year.
1t is claimed in Western markets that
large quantities of pig iron have been pur-
chased for speculative purposes and that the
scarcity of supply is largely apparent.
Very heavy purchases have been made in
Ohio and in Western Pennsylvania. In
fact, all Ohio river valley markets are
placed with inquiries for large supplies.
The demand for all varieties of
IRON AND STEEL
has been more marked West than East, but
at all points it is excellent. Prices still
tend upward, rails touching S32 at Eastern
mills with inquiries for 100000 tons. An
thracite coal is now more active with the
nine months production, 25.5S7. 900 tons in
1889 against q, 535, 900 tons in 1885,
Depression has characterized breadstuffs
influenced BY weaker cables, higher ocean
freights and Government crop report in
creasing the crop estimate. Wheat is of
1%@21kc and -four 5(115c, while the export
sales are noticeably checked. Exports of
wheat (and -four as wheat), both coasts,
July to date, are 80, AS, ,643 against 81 ,3s7,-
112 bushels in like portion of 1885, Ex-
ports this week equaled 2,758, ,53S bushels
agains: 1,S45, 1893 bushels last week, and
1881, ,916 in the like week last year.
Corn is of &c, and oats, in sympathy,
21Sc. The free movement of corn is checked |
somewhat by the late decline in price. Hog |
products have had frequent, though less |
violent, fluctuations in prices at the West. |
East they have been only moderately active |
with slight variations in prices.
A DECLINE IN SUGAR.
Raw sugars have continued heavy on |
slow demand in spite of a concession of |
/ 1-6c, and reports of decreased yields in |
Brazil and in Java, and of disquieting re- |
ports from Louisiana. Warehouse deliv- |
cries and MEETINGS are liberal, and arrivals |
moderate Refined, on free offerings and a
moderately active demand, is off 1S(9Kc. |
Dealings in coffee are moderate and Brazil |
growths declined 70. Teas are in limited
sale. There is talk of possible corner in
the London market.
Leading Eastern drygoods jobbers report |
trade moderate. Early promises have not |
been realized. There are liberal orders
with agents for spring goods, while season.
able goods are dull. Prices are dull, ex-
cept for print cloths and some makes of
brown sheetings, which are lower on week.
Demand for raw wool is unsatisfactory
Raw cotton is lower on heavy crop move
ment.
Business failures reported to Brddstreet's
number 205 in the United States this week,
against 243 last week and 1876 this week last
wear. Canada had Al this week, against
% last week. The total of failures in the
United States January 1 to date is S,942
against z, ,S66 in 1888.
DUN's WEEKLY REVIEW.
R. G. Dun & Co. s weekly review of trade
SAYS: As before, the money market is the
one point of anxiety. Rates are higher but
perhaps apprehension has somewhat les
sened, as the senseless cry that the pressure
was only manipulated, has given place to a
more rational understanding of the reality
and consequent limitations of the demand |
The country still calls for money largely,
but reports from nearly all interior centers
of supply show that the supply is considered
ample for commercial needs. There is firm
ness and increased demand at Kansas CITY,
and some stringency at Cleveland but with
an easier tendency. At Milwaukee the
market is brisk at per cent; at Phila-
delphia customers are supplied at to per
cent.
The volume of trade continues large:
bank clearings exceed last years, railroad
earnings are encouraging and East-bound
shipments from Chicago are heavy. At
Chicago the drvgoods trade for the week
falls below that of the corresponding week
last year, and receipts of wool and lard fall
of one-half but coal receipts are larger, and
receipts of grain and provisions show good
increase.
CROPS ABUNDANT.
St Paul rejoices in the movement of
f'Minnesota's largest CROP" and railroad
reports indicate that Northwestern lines are
choked with the enormous receipts from
farms. Cleveland notes activity in all lines,
with small sales of ore because unsold sup
plies are scarce. There is little activity in
coal at Pittsburg, but glass works are busy
at old prices; iron and steel works are all
busy, with prices well held, and the coke
output at Connellsville is reported in excess
of demand by one days work each week.
The iron trade is still healthy, Southern
furnaces seeming to have well sold up, and
though an offer of Lehigh Valley brand
No. at SIC so is reported, the quotation for
pig is $17 to SIS. Bar iron is not as firm as
other forms, and the surprisingly heavy de-
mand for plates and structural forms is for
steel rather than iron. Rails are ouo3ed at
$31 30, with sales for the week of 81, 500
tons. An offer for B, 200 tons American iron
to be shipped to Scotland failed because
freights were too high.
The ship yards on the lakes are to be very
busy next season, contracts for 35 vessels,
with tonnage of 81, 300 being quoted.
WOOL RATHER DULL.
The wool trade is still dull, and while
there is fair movement of dress goods and
hou ran hrrr4 Il