Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-06-01
THE STATE OF TRADE.
Crop Reports Continue Good, but ColIec-
tions Are slow-Pig Iron Prices Seem
to HIVE Tnuched the Bottom.

NEOp AeDOrt8 GOhunuo NOOug Dut Couocs
tions Are sIow-Pig Iron Prices Seem
TO Have Touched the Bottom.
Special Telegram to The Dispatch.
NEW YORK, May 3l.-Special kilograms to
| Brddstreefs indicate that the volume Of gen.
eral trade throughout the country remains
about as reported for several weeks past
Kansas City deposits are excessive IN that the
interior tributary demand has improved with
better crop reports. Word comes from Louis
vile, Galveston and Savannah that late rains
have effectua1ly broken the drouth and that the
outlook, both agriculturally and commercially.
Is in consequence much better. Trade at New
Orleans is light on the uncertain crop outlook
and the drouth which, though rain has fallen.
has seriously damaged the rice crop and sugar
to a considerable extent. More rain is need in
Louisiana.
At the larger eastern eenters business Is not
specially active, notably at Baltimore and Phil
adelphia. At Boston the movement Of merch-
andize, while trihe more active in some
lines. Is disappointing. Summer dull
ness begins to be reported. Two carloads
of new wheat received at San Francisco, May
ries were plump and Quality good. Present
California harvest Is nine days ahead of any
previous one, and prospects are excellent. It
Is thought that the present wheat crop Of
OdlllOEnla Will ylelQ nearly OU,UUU DQS06l9s
Gable advices Just received from Sydney re-
port 20 inches Of rain fallen in four days and 1t
Is still raining. Heavy floods had occurred
with much damage, but the effect on crops Is
not yet known.
General Trade ls Quiet.
General trade at New York is quiet. Coun-
try produce (strawberries) and wooden goods
Channels by auction) are in heaviest movement.
Furniture jobbers report slightly improved de-
mand. Groceries are in light demand. Fertil-
izers, seeds, paper, rubber, leather and naval
fertilizers tending downward. Boots and shoes
arc fairly active. Stock speculation has been
strong, with increasing activity based on easy
money and good crop reports. Realizing, REIN
Of damage to oi0e western n'nst crOps no caused
reaction later in the week, but the bullish
sentiments underlie the market, and are act
lively asserted in the specialties.
Bonds strong and active. Money at New
York is easy. Rates ware 292H per cent on
call early in the week, stiffening slightly at
close on the shipment of So, $4,000 gold to Eu-
rope. Foreign exchange Is strong and steady.
trade sales of fannels on Tuesday, Wednes-
day and Friday have monopolized the
attention of the New York drygoods trade. A
very heavy distribution was made at price
nearly per cent better than last year. In all
nearly 1000 cases, valued at about s., 100000,
were disposed of, and results are satisfactory.
These sales have added firmness to the market.
has %ade v Ea Ss
men, who report fair siders for fall wear goods,
with considerable
Distribution of Drygoods
and of bleached cotton goods at the late pricere-
visions. Raw wool has been fairly active at in
terror markets, and in average distribution at
the seaboard, with values aided by the good re-
suits of the flannel sales the late decision by
the Treasury Department and strong foreign
advices showing strong tone, but with no
quotable advance. Raw cotton is rather less
active at unchanged prices: The old
crop movement Is still further cur
doubtful. New crop. advices are improved.
Trading in wheat has been light on and of the
option list with prices &c down for cash and
steady for options, and the market about
steady. Southwestern advices favor harvest
ing at many points at an early day. In the
Northwest frost low temperature and unfavor-
able weather are reported. Prices advanced
on this. but have reacted. Flour remains
barely steady on low and medium grades.
Indian corn is not in active export demand
and broke nc on more than 500.0U0 bushels re-
served at New York. Oats Nc lower in sym
pathy with corn as well as on large receipts.
Dealings IN hog products are only moderate
and price huctuation slight. Raw sugar is nc
higher on restricted offerings, firmer foreign
markets and urgent reQiremenis from refiners.
henneQ, TOO, was In DeEter demand and the
market strong. even buoyant with prices up
Hc.
Coffee remains steady in price on the week,
and there has been freer movement to arrive.
and the distribution to jobbers has been freer.
Speculative trading in Brazil coffee here and in
Europe remains lifeless.
Business failures reported to Bradstreefs
number 135 in the United States this week,
against 40 last week and 123 this week last
year. Canada had Is this week, against 10 last
week. The total number of failures in the
United States January to date is 5,044, against
4,5ll in 1888.
X. G. Dun & Co.'s Review.
Dun & Co.'s trade review says: On the whole,
crop prospects continue unusually good, and
the markets are rapidly adjusting themselves
to the assurance of ample supplies. Business
at all points reporting continues large in vol
ume, and the clearings through banks show an
increase of about II per cent over last year out
side of New York.
In view of the large exports of gold, and con-
siderable realizing sales of securities by foreign
holders, the course of foreign trade is closely
watched. The increase over last year in exports
from New York and in imports at New York
has been about per cent for each, which indi-
Gates an excess of imports over exports for
May of about ST., 600, 900, and the specie move
meut thus far has not nearly settled the balance
thus arising.
Lighter exports are to be expected for the
next month. so that considerable 'outgo of
gold would be natural, even If there should be
no withdrawal of capital on account of securi-
ties sold.