Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-12-14
ESPECIAL TELEGRAM TO THE DIsPArcH.i

NEW YORK, DecemDer lO.-DpSCAoA oSAC
grams to BrddStreet'S report very generally
fair distribution of merchandise, but there
are complaints of great scarcity OF cars or
the trunk lines with which to move corn
The mild weather has been widespread.
checking the movement of winter clothing
and other seasonable staples. Very heavy
rams have checked trade on the Pacific
coast, as did the Davis obsequies at New
Orleans and elsewhere at the South. But
on the whole the volume of business remains
in excess of that one year ago.
In the stock market the 2 per cent West,
ern Union dividend strengthened that stock,
but elsewhere the Vanderbilts alone ap-
peared to be able to resist the general de-
preston which has prevailed, notwithstand-
ing the revival on Friday and Saturday
last. The manipulation of money, which
has ranged from Is TO per cent, has been a
factor in the attack, as were the unfavorable
bank statement, the depressed coal shares
and the mild weather. Money is easier,
but is not likely to become steady until
after the January settlements. Bonds are
in improving demand. Silver is in rather
better request from India and it is thought
that it win be from Brazil.
A DECIDED INCREASE.
Railway gross earnings reported by 137
companies for November show total of
$36, S01, ,O61, or u per cent more than for the
like month in 1888. For IL months of the
current wear the aggregate of gross earnings
is $3.50, ,76O, ,6S4, or g per cent increase. The
iron and steel industries are frmer and
show more pronounced tendency 10 advance.
Pig is now quoted $19@19 so for No. 1, and
the outlook is that the price will go into the
new year at $40. Bessemer pig and wire
rods are each higher and in demand.
Production Of pig is about 10000 tons
each week, an increase of 80, 600 tons weekly
within six months, yet consumption is cor
respondingly heavy, preventing stocks from
accommodating. Rolling mills are all work.
ing full time. Steel rails are firm at $35 at
the mills. At the East there is an extra
Ordinary demand Tor lake ore for next
season. Bar iron will soon be advanced to
2 cents per pound.
Flour, wheat, corn and oats have all been
easy with large stocks or free offerings,
though spot wheat commands an advance of
K015c over the close a week ago Rye is
PIC higher on renewed request for export.
Exports Of wheat (and -four as wheat)
amount to 2, All, ,216 bushels this week, OF
which one-third is from the Pacific coast,
against 2,327, ,342 bushels last week and
1,571, GIG bushels in the second week Of De-
cember, 1888.
EXPORTS OF WHEAT.
Total exports of wheat (and -four as
Rheat) July to date amount to AZ .323, 100
bushels, as compared with 1851, ,619 bush
els in a like portion of 1888, and q, ,255, 600
bushels in 1887. The hog products and pro-
visions markets still remain conspicuously
the weakest on the list. Receipts of hogs
remain very heavy g per cent in excess of
previous week. and dressed and live hogs
continue depressed, about 10 cents per 100
pounds. Lard options have declined frac-
tionally. Pork is barely steady in price.
Butter and cheese are in only moderate re-
quest, and eggs are lower on light demand.
Raw sugars are of 1195-16c on the week
after the renewed activity just preceding, at
which dealers stocked up freely with refined.
The starting up of the new antitrust re-
fnery December 10 at Philadelphia and a
lighter demand are features. There is no
rs4@tien in prices of refined, although the
movement is lighter.
Speculative trading in coffee is brisk, and
prices tend upward on decreasing visible
stocks and reduced estimates of the Brazil
ian crop. Option prices advanced 65@80
points and in distributive lines 5s915c per
pound.
DRYGooDS LINES.
The cotton goods situation shows more
confidence on advances in bleaehed goods,
brown sbeetings and drills. Print cloths
are in sharp contrast 10 the general market,
with decline of Lice. Mild weather af-
Iects the jobbing distribution of heavy
goods unfavorably. Wool is in fair demand
at steady prices. Cotton is dull and with
out much change in the face OF conflicting
crop estimates.
Business failures reported to BrddStreet'S
number $40 in the United States this week,
against 2S1 last week and 309 this week last
year. Canada had % this week, against 30
last week. The total of failures in the
United States January 1 to date, is II, ,023,
against 9,747 in 1888.
r. G. Dun & Co.'s weekly review SAYS:
But for one thing the business reports re-
ceived this week would be exceptionally
satisfactory. Unreasonable weather ac-
counts for depression in one or more
branches of business. The trade in woolen
goods and in heavy boots and shoes is also
more seriously. On the other hand, there is
som: compensation in the fact that the open
weather has enabled building operations to
be carried on longer than usual The holi-
day trade has also commenced early and is
Of unusual magnitude.
OVER THE COUNTRY.
Trade at Boston is on the whole very good.
The boot and shoe trade is satisfactory.
Ill, Il. i I'm
At prices which leave narrow margins, and
wool sanufacturers are working short time.
The grocery trade there largely exceeds last
years, at firm prices. At Chicago the grain
trade exceeds last years, the trade in pro-
visions has nearly, and in butter and cheese
quite doubled, while there is some decline
in hides and heavy decrease in wool.
In nearly all lines business is large at st.
Louis. Except in North Central Arkansas
and Southeast Missouri, collections are un-
usually easy. At Milwaukee, Omaha, St.
Paul and other Western points, while weather
affects the trade, prospects are good, and ex-
cept in localities about Milwaukee, collec-
tions are called fairly satisfactory.
The situation is healthy, as appears in the
return of iron furnaces for December 1,
which shows q weekly output of 169, ,151
tons, against 165. .225 November / and 49,
913 a year ago. With an output at the rate
of $3.50 900 tons per annum, iron does not
yield in price, though it is admitted that
heavy sales have been made at figures below
Philadelphia quotations. and in many in
stances probably at S19, with guarantee
against loss if prices fall.
ADVANCING PRICES.
Steel rails are firm at Ss5. Advancing
prices are noted at Pittsburg, and great
activity in ore at Cleveland, where, It is
stated, the satire Lake Superior product for
next year has been already sold, the Bes-
semeT at S. per ton. The speculative mar
kets have been stronger, but show no un.
wholesome activity. Wheat has risen half
q cent with sales Of only 14,O00,OOO bushels
and corn the same. oats not changing.
Oil has risen q cent on small trading,