Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-08-10
ESPECIAL rxLEeRAM TO THE DIsPArcH. l

ESPECIAL TELEGRAM TO THE DIsPATcH.I
NEW YORK, August Especial tele-
grams to BrGdstreet's report somewhat
larger volume of trade at Philadelphia,
Pittsburg, Louisville, Cincinnati, Kansas
City. Chicago and Galveston, and at other
points the outlook for the autumn trade is
bright. Anthracite coal and lumber at the
East remain quiet, and raw wool has been
somewhat depressed by several failures
among manufacturers. This has affected
general trade in some degree at Boston.
Kentucky's hurley tobacco acreage is re-
ported at 7O@75 per cent of that in 1888,
and of dark tobacco 5000 per cent.
Prices are advancing on prospective short
crop and renewed purchases. Hog products
are stronger, notably Western steam lard.
At San Francisco 2OO, 900 bushels of wheat
have been chartered for Brazil and 81, 900
shipped to Australia. Although narrow,
stock speculation is strong and prices ad-
vance on the increasing grain movement at
the West.
SPECULATIVE LINES.
Participation seems to be growing and
unusual confidence is expressed in the
probability of more active movement in
strong with increasing demand. Money at
New York is easy on call and firm on time.
Call loans 3@4 per cent. Time money is
per cent. Foreign exchange is dull but
frmer on the advance of rates at London.
Demand sterling. 81 S714(94 S7K.
Gross earnings of 121 railroads for eight
months of this year amount to S201 AIS, ,264
against S18S, ,321. .191 during the correspond
ing period of 1888. The mileage upon
which these figures are based is 73, 140 against
20, ,1S3 miles last year. In July, 1889, only
q companies showed decreases, as COM
pared with July, 1888, while in June, 1889,
returns from AZ companies were smaller
than in June, 1888.
There is increased activity in drygoods
iobbing lines at New York, but notably in
cotton and wool dress goods. Southern and
Southwestern jobbers are the chief buyers
Commission men report trade moderate.
Prices are, as a whole, steady, the only
notable exception being in print cloth
futures, which are weaker. The export de-
mand for cottons is less active. Woolen
goods are IN moderate sale at recent ad-
Yances (21I(d71I p. c.) Raw wool is easier
but not quotably lower, On less active de-
mand. Raw cotton is in fairly good demand
at unchanged quotations. Near new crop
futures are higher on less favorable crop re-
ports.
IRON IN GOOD SHAPE.
Consumption OF iron has reached the high
est point of the year, and furnaces, mills,
bloomeries and shops are ali we'll filled with
orders for from one to three months. Prices
are steady, and under the stimulus to pro-
duction impaired by frmer quotations the
supply of all kinds of material will probably
be sufficient to repress any actual advance.
Copper is now more firmly held than since
I'll ~ mi c4a al-r
are in better demand. The various produc-
ing companies have come to a new agree
ment to sustain the price of Lake Superior
ingot at 12c per pound, with the casting
brands at 11@11sIc according to quality.
Prices of raw sugar are shaded, with con-
tinued restricted takings by reiners and
only a moderate decrease in arrivals, thus
increasing stocks at four ports to 10, 345 tons.
The worlds visible supply of sugar is given
at 549, ,016 tons, against 575, 165 tons last
week and SIG, ,433 tons year ago. Refined
sugar has been in moderate request, al
though marked down &c on Friday. Coffee
has been variable, with the result on the
week a moderate advance 10@30 points.
In distributive lines the movement has
been fairly active, Brazil growths proving
the exception.
COFFEE AND BREADsTUFFs.
SOueS pElceS 4OI Lue duluu1n appear " uc-
pend upon the Brazilian crop. Should that
crop equal 5000, 900 bags lower prices are
likely to rule, but if the total is only about
1900, 900 bags, higher prices will be in
prospect
The week has brought reaction in bread
stuffs caused by improved home and foreign
crop reports, moderate export demand and
stronger ocean freight rates. Flour de-
clined 5915c on free offerings OF new prod
uct, wheat z@11zc, Indian corn, on free
offerings, nc, and oats, with very favorable
crop reports, I91ssc.
Business failures reported to Brddstreet's
number 173 in the United States this week,
against 213 last week and 1S6 this week last
year. Canada had 81 this week against %
last week. The total of failures in the
United States from January to date Is
1882 against {. .227 in 1888,