Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-09-14


in Nebraska have done but very little
damage to the Indian corn crop there. Cat
tie and hogs are dull and heavy. Salmon
are frmer at San Francisco owing to the de-
cline in the Alaskan catch.
RAILROAD EARNINGS.
Gross earnings of 121 railroads for August
show gain of 10.4 per cent over their ag
gregate performance in the same month last
year; but q roads out of the whole number
show decreases. Stock speculation is dull
and subject to reactiOnary tendencies, the
weather diminishing participation and
threatened railroad disturbances creating
apprehension, though the undertone of the
market continues strong and confident
Bonds are dull and firm. Money at New
York works firmer on drain of funds to
the South and decreased bond acceptances.
Call loans 4 per cent. Foreign exchange is
high and firm. Demand sterling 81 $50
$50. The copper combination in this
country has not been a success, and sales
have been at 1!@1 cent under the price
agreed upon-12c. Foreign copper held
here has also been sold at cut figures.
A slight weakness has been Unexpectedly
developed in iron markets East, West and
South, as purchasers have been for some
weeks past very literally supplying them
selves. Production has slightly increased
since July l, but the increase is not suff-
cient to affect market prices.
COAL AND IRON.
Preparations are now being made to in
crease the furnace capacity, but it may be
late in the year before this increase will be
perceptibIy felt. Anthracite coal is still
dull and moves slowly, and petroleum has
gone above the dollar mark.
Wheat showed an early advance of &c on
unfavorable reports as to grade of new win
ter, unexpected absorption of new wheat bv
millers and others before reaching leading
storage points, and liberal orders from mill
ers and shippers for new spring, but declined
later, losing former advance and closing
heavy. The Government crop report was
construed unfavorably. Indian corn was
relatively weaker on unsettling weather re-
ports ana heavy receipts.
Exports this week of wheat (and -four as
whea) aggregate !, ,426, 552 bushels, against
1897 ,219 bushels last week and 2,739, ,434
bushels in the like week of 1888. The total
exports July l to date are 20, 49,, 324 bushels,
against %, S27 OIL bushels last year.
DrygOods jobbers at New York and Bos-
ton report trade interfered with by stormy
weather The volume of business done
necessarily shows decrease, but the seasons
trade is well ahead of last year in leading
lines.
DEMAND FOR DRYGooDs.
At first hands a steady, moderate demand
is reported, with prices firmly held for both
cotton and wooden goods PRINT cloth stocks,
however are growing, and prices, while un-
changed, are weak. The large distribution
of dress goods nv New York jobbers is a
prominent feature. There is some improve
ment in wooden clothing.
Raw wool sales are restricted by slowness
of manufacturers TO take hold. but holders
manifest more confident tone. The new
domestic clip is moving freely. Raw cotton
is slower of sale at unchanged prices. The
Government crop report is regarded as
bulliSh. September delivery has advanced
on exhaustion of local stock and sympathy
with Liverpool.
An increasing interest in raw sugar is
caused by better demand for refined and
stronger European cable advices. The gain
is credited to legitimate trade influences.
Prices of refined are well maintained.
Coffee prices have been stimulated by crop
and weather conditions at primary sources
as well as by unusually heavy consumption
in Europe during August. The speculative
advance is 7-10c.
Business failures reported to BrddStreet'S
number 100 in the United States this week,
against 143 last week and 124 this week last
year. Canada had IL this week, against %
last week. The total of failures in the
United States January l to date is 1886,
against 1902 in 1888.
DUN's REVIEW.
r. G. Dun & Co.'s weekly review of trade
bays: Scarcely week has passed since
Government purchases of bonds and heavy
payments made the street certain that there
could be no monetary pressure this fall.
Now people are talking again about posi-
BILE exports of gold, foreign exchange is
higher and rates for money advance. the
best commercial double-named paper selling
at to per cent and prime single-named
at 6 to per cent.
Over $40, ,000, 900 has been absorbed, OF
which none has gone abroad and very little
if any, to the West or South, and the ques-
tion is again just what it was some weeks
ago: "Will the Treasury be able to get
bondsenough to prevent monetary pressure?"
Then there was known to be more than S20,-
600, 600 locked up in bonds held on specula-
tion; that resource has gone but the addi-
tional money has been absorbed by specula-
ton in stocks.
b1OCh
Heavy sales of stock on foreign account
have caused little reaction and raggednes,
but the general average of prices is still
nearly so cents per share higher than a
week ago. The wars of railways do not
cease, but on the contrary are increasing in
number and Importance,
The exports OF products are remarkably
large for the season, for two weeks 40 per
cent above last years, but the imports of
merchandise are also very heavy, and the
unrecorded imports of securities returned
from abroad tend to turn the scale. At
every Western and Southern center money
is in fair supply, with a demand generally
good, but brisk at Milwaukee, and such at
Chicago that an advance in rates is ex-
pected.
The violent storm has disturbed business
not little along the seacoast, and affected
purchases tor the interior, bat in all other
respects the week has been one of satisfac-
tory business. Nearly all interior cities re-
port trade as
ACTIVE OR IMPROVING,
and the clearings through all banks outside