Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-09-07
ESPECIAL TELEGRAM TO THE D1spArcH.l

as O4AS
ESPECIAL TELEGRAM TO THE DIsPATcH.l
NEW YORK, September Especial tele-
grams to Brddstreet's indicate a more active
movement of general merchandise through
out the country, with a favorable prospect
for tall trade in almost all lines. Some,im-
proVement is noted even in raw wool. yell
low pine is higher at Western cities, and
Kentucky whiskies are advancing, but cat
tie and hogs have been heavy and lower and
the New England fisheries catch is unfavor
ably reported.
Total bank clearings for August at 81
cities, as wired to Bra rddstreet's, amounted to
81, ,273, ,679, ,511, an increase of 11.3 per cent
over corresponding total of 1885, For eight
months the total is S35, ,971 ,6O3, SIG, against
S31, ,O64, ,97e, ,293 in 1888, S33, 4S5, 9O3, 442 in
1887 and $50, ,9O6, ,647, ,141 in 1886. Our cor
respondents report that the New York State
hop yield will equal that of last year, with
quality fair. The Pacific coast yield
promises to be large and of fine quality.
England expects crop of average size and
quality.
GENERAL TRADE ACTIVE.
General trade at New York is fairly ac-
tive, groceries, drygoods, country produce,
hardware, green fruits, boots and shoes,
crude rubber, seedleaf tobacco and leather
showing most activity. Prices generally are
strong and tend upward, particularly in
acids country produce, some makes of
bleached drygoods, crude rubber and leather.
The boot and shoe industry generally is ac-
tive, with demand meeting the supply.
Statesmen are already out with spring SAM
piles.
Stock speculation tends to widen, and
prices, while fuctuating, work steadily
higher on the crops and the heavy traffic
and earnings of railroads. The money mar
ket has for the present ceased to act as dis
turbing element. Call loans at New York
are 3(14 per cent. Bonds are steady, and
advancing on a light demand. Foreign eK-
change is dull and firm. Demand sterling
81 S734(d4 IS.
Stocks OF wheat at over 900 storage points
aggregated %, $50, 600 bushels on August 80,
an increase OF 4, ,7S8, 900 bushels since July
q, almost exactly the same increase as was
shown by BrddStreet'S reports of wheat
stocks during the like five weeks in 1888.
COMPARATIVE STATISTICS.
Stocks of wheat August 81 were 13, 200, 900
bushels smaller than one year ago, but
those of corn and oats were each 3, SOC, 900
bushels larger. Stocks of wheat -four in
jobbers' and millers' hands were 100, 900 |
barrels larger than on July 27, 1889, and |
$4,000 barrels larger than September 1,
1888. Wheat has been weaker and 1912sc |
off on freer deliveries West and Northwest, |
although for five weeks ended August 81, |
net average weekly additions to stocks out |
of farmers hands at 900 points were 958, 900 |
bushels against 972, 900 bushels in a like |
portion of 1888.
Wheat -four is duller and of 5915c. Corn |
has reacted from the effects of Tree move |
ment and selling orders. and on reports of |
frosts, Northwest closes weaker at &c off. |
Oats, sympathizing with corn, are off 5(9Sc. |
Exports wheat (and -four as wheaD both |
coasts (his week aggregate 2, ,679, ,0O7 bushels |
against :, 3,0SS, 277 bushels last week and q
S31, ,276 bushels in first week of September, |
1888. Total OF exports both coasts July l to
date is 10 100 $50 bushels and for like por-
ton of 1883 it was q, S07, 5S7 bushels.
Boston and New York iobbers report an
evenly distributed demand for drygoods, and
agents satisfactory demand for leading
cottons, with prices generally we'll held,
bleached goods (high and low grades) espe-
clally so. Print cloths are weak, on in
creasing stocks. Woolen goods are pretty
well under control; dress goods are specially
active. Importers report an improved de-
mand for foreign goods. The auction sale of
blankets and fiannels at New York this
week was fairly satisfactory, prices averag-
ing 7610 per cent below regular quotations.
Raw wool has been rather more active at
former quotations. Raw cotton is 1sc lower
at New York on increased crop movement
and lower quotations at primary markets,
but 3-16d higher at Liverpool, owing to
light supplies and reported corner.
IRON AND STEEL.
Very large iron and steel orders have /
been booked BY Western makers this week |
at outside prices. Freights have been ad-
vanced and this is reflected in higher quo
tations to small buyers. Large orders have
been booked for merchant bar, merchant |
steel, structural iron, plate and tank, and |
sheet and galvanized. There is also great |
activity in Western markets in heavy hard. |
ware and in wire and cut nails. All kinds |
of building material are moving very freely. |
All through the Ohio valley there is gen.
eral activity and in the late markets crude |
and finished iron have been marked up.
Lake Superior charcoal iron is very firm, |
because of the active demand throughout |
the entire Northwest. Ohio irons in West
ern markets have also sold at higher quota
tions than for several months. Copper is |
unchanged and production is heavy.
Cabled depression from Europe and more |
encouraging crop advices from prominent |
producing countries resulted in further |
yielding of prices of raw sugars here re-
gained on Fridays advance. Transactions |
in refined have been relatively far more lib |
eral and prices are steady. Coffee has been |
dull, speeulatively, and prices were made on |
contradictory reports as to the Towering of |
the Brazilian crop, at first unfavorable and |
later favorable, September advancing 8 |
points. In distributive circles the move |
ment was more active and Rio closes &c |
higher.
Business failures reported to BrddStrest's |
number 143 in the United States this week |
against 176 last week, and 157 this week last |
year. Canada had 27 this week against 21 |
last week. The total OF failures in the |
United States January 1 to date is 7,746 |
against 1873 in 1888.
DUN'S WEEKLY REVIEW.
R. G. Dun & Co.'s weekly review OF trade
says: Real improvement is seen in almost /
every department of business. With each /
week it becomes more certain that the crops
of the year will be large, and of late the |
news from abroad has clearly indicated
larger foreign demand, while such specula-
tion as might arrest the outward movement
of grain and provisions has thus far been
prevented. In cotton on the other hand, the
present scarcity in the city rules the price
in spite Of bright prospects as to the coming
crop. n
The effect of heavy bond purchases by the
Treasury has been great in the stock market,
and is now felt in much better demand for |