Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-08-17
THE STATE OF TRADE.
Business Has Improved in Nearly All
Sections of the Country.
THE OUTLOOK FOR THE AUTUMN.
Iron Will be Affected by Probable Rise in
Coke Prices.
SPECULATION is WAITING FOB A BOOM
ESPECIAL r.LzenAn TO rH. DISPATCH j

SPECULATION is WAITING FOB A BOOM
ESPECIAL rBLEeRAn TO THE prsrATcH.l
NEW YORK, August 16.-Special tele-
grams to Bradstreet's record q visible i'm
provement in the distribution of staples at q
majority of the cities reporting. At almost
all points it is noted that the outlook for fall
trade is very good. While weather condi-
tions west and northwest remain very favor
able, in Louisiana and Texas too much rain
has damaged the crops, particularly cotton,
and rendered interior roads so heavy az to
materially cheek trading.
Mercantile collections West and North
are generally more favorable. Cattle and
hogs are lower. Powder and dynamite mills
on the Pacific coast have formed pool.
Nearly 81 900 bushels of barley have been
shipped from San Francisco to New York.
Stock speculation is governed by expecta-
tions of boom on the crop movement. But
trading is limited and professional and tenn
porary depressions are produced easily by
apprehensions of financial pressure or al
legged fears Of q receivership for the Atchi-
son Company. Bonds are dull and firm.
Money at New York is firm and sensitive.
Call loansiare per cent, with higher ten
dency. Foreign exchange is dull and quiet.
Demand sterling is a S7K@4 S7H.
THE IRON MARKET.
little tendency to an advance, owing to the
influence of the very heavy output. Were
concessions offered in any line no doubt
heavy orders would follow. Bessemer pig
prices have advanced about 81 within the
month. The prospect for higher prices for
coke September is regarded as an element
of special frmness in iron prices. The
Cooper Trust'-for the combination ap-
pears to have assumed that form-promises
to hold prices of lake ingot at 12c.
The anthracite coal trade is dull and the
effort this week to advance prices was
failure. Cotton and wooden dress fabrics
are more active in jobbing circles in New
York and Boston, and an average distribu-
ton in all lines Of domestic, staple and de-
partment goods is reported. Agents note
larger recorders in seasonable fabrics, and
more interest is manifested in spring goods.
Prices as q whole are we'll controlled.
Print cloths are 10 lower on the week, on
lighter demand, and low grade Southern
goods are weaker, but not quotably lower.
Foreign goods at New York are in light de-
manu-, anu Tue season 10 unusually idte.
The domestic woolen goods situation shows
little change.
Wool AND COTTON.
Raw wool is unsettled. Sales are only
moderate and the outlook is uncertain.
Sales at concessions are reported, but prices
are not quotably lower. Manufacturers are
only supplying immediate wants. Cotton
is active and speculatively higher on small
supplies, late movement of new crop and
generally good demand. Liverpool reports
an advance of I'D.
The depression in the sugar market noted
for three weeks past still continues. Raws
are off h@9-16c under some pressure to re-
alize, The disinclinatlon of jobbers and
others to take freely Of refined is still no.
ticeable, and prices were marked down an
other Nc on Wednesday, with only a mod
crate business resulting. The net consump-
tion of sugar in the United States for the
six months ended June 80 last is estimated
at 734, 101 tons, against 710, ,40S tons in like
portion of 1888, and 500, 792 tons in 1887.
The profits of the Sugar Trust for six months
are estimated by Messrs. Willett and Hamlen
at So, 423, 900, and bv the non-trust refneries
at "a, AL, 900. Transactions in coffee, both
distributive and speculative, have been
heavier than last week, with gain of Is
points on the former and about 80 on the
latter.
WHEAT PRICES sTIFFENED.
The Government crop report, not being
quite as favorable for wheat as expected,
tended to stiffen prices when backed by
frmer foreign cables. Restricted export
takings and a reduced buying interest let
quotations down again. Futures are up
about one-quarter cent on the week. Corn
has been variable on heavy cables and I'M
proving speculativ. demand, but closes one
half cent up. No. 2 oats are Z@1c higher,
but oats are lower on the week. Exports of
wheat (and -four as wheat) equal /, ,914, 900
bushels this week against 2,056, 900 bushels
last week and 2, $50 900 bushels a year ago.
Total foreign shipments July ]. to date equal
II, ,250, 900 bushels against IL, ,653, $50 bushels
for alike period last year.
Business failures reported to Bradstreet's
number 1T in the United States this week
against 173 last week and 151 this week last
year. Canada had "a this week against 81
last week. The total of failures in the United
States January 1 to date is 1909 against
6,428 in 1888.
R. G. Dun & Co.'s weekly review of trade
says: In all directions business prospects
continue encouraging, and the changes DUR
ing the past week have been on the right
side. Exports increase, and a speculative
rise in breadstufs has been checked.
Interior cities report increase in the volume
of trade, and the money markets continue
amply supplied, though rates are gradually
hardening. The great industries appear to
be in fully as good condition as last week,
with clearer evidence of improvement in |
iron. Further crop news sustains Govern
ment advices, and strengthens the
PREVAILING IMPRESSION
that the August report as to wheat was less |
favorable than the actual situation. In |
spite of small advances in some products |
the general range of prices has not mate |
rally changed, and railroad earnings con- |
tinue good, though all controversies have |
not as yet been cleared away.
Telegraphic reports from interior cities |
all agree that the crop prospects are excel |
lent, and that the banks are as yet amply |
supplied with funds, while the demand for |
money is slowly increasing, and lenders are |
q little more cautious at some points.
The treasury has obtained but few bonds |
of late, and its surplus has risen above $70,-
600, 900, but there is q confidence at the de-
partment that bonds will be freely offered |
whenever there is any need of more money
in the principal markets.