Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-26

tributed at Boston, Memphis, Chicago
Dubuque, New Orleans, Atlanta and Louis
vile, while at Philadelphia, Detroit, Omaha
Kansas City. st. Louis, St. Paul, Portland
Ore, and San Francisco there has beer
rather less activity noued in some lines, due
to unfavorable weather and farmers holding
of owing to low prices of grain, corn being
quoted at II cents per bushel In Iowa.
Louisiana and Georgia cotton-picking
weather is excellent. Cattle prices tend up,
while those for hogs are off some. The
China steamer service at San Francisco is
reduced from eight to six owing to Canadian
Pacific competition.
General trade at New York is more active
in groceries, country produce, furniture,
building materials, leather, boots and shoes
and fertilizers. The New York stock mar
ket has been irregular, high rates for money
part of the time operating against an ad-
= vance, while plans for rehabilitating the
Missouri, Kansas and Texas and Chesa-
peake and Ohio and the traffic agreement
between Union Pacific and Northwestern
had an opposite influence.
A VANDERBILT DEAL.
Directors of the Union Pacific state to
BrddStreet'S that there is no alliance or
amalgamation intended, but admit that the
contract will give the Vanderbilt interest a
transcontinental system. Coalers declined.
Northern Pacific and Northwestern were
strong. The trusts were all weak and
lower,
Special telegraphic investigation of do
mestic money markets by BradStreet's re-
veal that funds were easy to-day at 49 out of
90 cities reported, important ones reporting
funds working close being Chicago, Balti-
more, Cleveland, Toledo, Peoria, Dayton,
Birmingham, Ala, Cincinnati, St. Louis
and Omaha. Mercantile collections were
reported slow or unsatis actory at 19 points,
chief among them the two Portlands, Provi-
dence, Sacramento, Burlington, Ia,
Grand Rapids, Detroit, Toledo, Troy and
Albany. 1t is also shown that collections
funds at the interior has not finally turned
eastward, western sales Nof New York ex-
change indicate that 1t is turning.
Wheat -four is less active for export,
owing to lower offers and higher ocean
rates. Wheat has been fercely sold at
times, th< total at New York aggregating
10000, 900 bushels foT the week. The recent
Government report, free movement of
spring, increasing supplies, bearish foreign
markets and high and scarce steam freight
aided in depressing prices 1Z@1Xc. A
rumored revision of the late Government
crop report had some influence.
OTHER AGRICULTURAL PRODUCTS.
Demand from Indian corn shippers and
short sellers send early deliveries up 1@1Nc.
Later ones have varied little. Spot oats
are &c higher on good demand. Exports
of wheat (and -four as whest), both coasts,
equal {. 1877, AGO bushels this week, against
2,75S, 536 bushels last week and !, ,S27, ,346
bushels in the like week in 1888. Total
shipments abroad July 1 to date equal
80, ,641, 103 bushels this year. against SO, 1884,
45S bushels in 1888, and 55, SOC, 900 bushels
in 1887.
Hog products are unsettled and price
changes frequent, notably at Chicago. Lard
advanced and closes firm, about 10 points
higher, and pork barely steady.
Aggregate domestic stocks OF raw sugar
are only 81, 800 tons, against 141 400 tons
August IA, when the highest figures OF the
year were reached, vet lack of inquiry
causes continued depression, and prices are
off 1-16(Gskc. Refined is not in active de-
mand and is off 1S@Zc. The antitrust
prediction of decline of 1c on sugar within
80 days, threatened competition and in
creased supply of refined attract wide atten-
tion. Louisiana's estimate of its sugar crop
is q, 900 hogsheads behind that OF 1888.
Speculation in coffee is moderate and |
prices leave off 10@2O points lower and
weak. Experts and others are still revising
coffee crop reports. The distribution of |
coffee is sluggish. Tea is fairly active and |
prices steady.
THE DRYGooDs TRADE.
Leading lines OF drygoods are more active
a& Tref opd conopd hopde
New York trade is moderate, mail orders |
constituting Q prominent feature. Agents |
report spring goods in active sale for future |
delivery. Prices continue steady in all |
leading lines, and print cloths are 1-16@1Sc |
higher. Wool is in slightly improved de- |
mand from manufacturers at steady prices. |
Cotton is Lice lower locally on heavy crop |
5-16d at Liverpool and M95-16c |
at primary markets.
Business failures reported to Bradstreets'
number 100 in the United States this week, |
against 2O5 this week last year. Canada |
had 26 this week against Al last week. The |
total of failures In the United States |
January to date is 9,132 against 8,074 In
1888.
r. G. Dun & Co.'S weekly review of trade |
SAYS: The money market has become more |
easy, with prospect that serious disturbance |
this season is no longer to be apprehended. |
The banks are running with narrow
reserves, and artificial stringency NAV
at any time be engineered. |
but the movement Of crops has been heavy. |
In the natural course of events the return |
Of money to this center should soon begin,
and the possibility of foreign war seems
imminent. The Bank of England gained |
last week s.. .270, 900, and the Bank of France
s23O, 900 gold. Securities do not appear to
be moving largely either way, while mer-
chsndise exports for three weeks showa gain
Of IA per cent over last year, against gain
Of 10 per cent in imports. The rate of for
eign exchange has accordingly declined
shade.
A LITTLE STRINGENCY.
There is little more stringency at Om-
aha, less at Cleveland, and active demand
with conservative tone at Chicago, but 9TH
srwise the markets West and South all re-
port supplies adequate for Legitimate needs.
Collections are unusually satisfactory at al
most all points, though Milwaukee notes
'ome tardiness, because farmers hold back
PRODUCTS for better prices. The volume of
rade, fair for the season at all points, is
,reater than year ago at most, though the
Iggregate of bank clearings, outside New
York, exceeds last years by per cent.
chicago finds larger increase, particularly
q orygooos, Wnle safes OF clotnlng ana
hoes are fair, notwithstanding mild and
Try weather; of provisions larger than last
ears, and of grain about same.
Iron grows stronger, the Thomas Com
ANY having advanced its price 81. A de-
nand from Canada and from Mexico is felt.
oreign prices being high. Bar iron is firm,
looms and billets feverish, and rails are
81 so to S32, the orders already booked for
$50 amounting to 10000 tons or more.
)opper is steady, TIN shade lower here at
and lead depressed to $50 70 BY ex.