Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-11-23
ESPECIAL TELEGRAM TO THE DrsrArcH.i

NEW YORK, November 22.-SpeciaI tele-
grams to Brudstreet's report a fair volume
of trade. except in holiday specialties.
However, the movement, checked by un-
favorable weather and the lateness of the
season, has been smaller than during Oeto-
Der. though still in excess of the total one
wear ago. The New York State canals will
close for the season next Saturday, and Buf-
falo tide water shipments have ceased. The
approach of the close Of lake navigation has
an influence on rail rates. Declining cattle
receipts at the West make prices steady,
but large offerings of hogs depress quota
tions Pork is steady, and lard, on better
export request, is up u points. The West
ern tobacco leaf crop is reported 10 to 20 per
cent less than last year, when it amounted
to 275, 900 hogsheads.
Reports from 90 railroads of gross and net
earnings TO BrddStreet'S for September show
a gain of 81 per cent in gross and oil IS per
cent in net over September. 1888. From
January to September so los railroads
show gains OF sc per cent in gross and 13.1
per cent in net over the nine months last
wear. Share speculation tends to improve
on the material conditions of railroads and
general business, but is unsettled by the
narrow financial situation and apprehensions
OF an agitation in regard to the currency aud
THE FISCAL POLICY
of the Treasury. Bonds are more active,
higher rates for money causing Increased
sales OF prime bonds. Money at New York
Is easier hut is in a sensitive condition.
Call loans 6G7 per cent Foreign exchange
is steady to trm on scarcity of commercial
bills. Demand sterling 81 S5(G4 8513. Bar
silver is 1l4e higher, at 96c, on rumored
changes in the silver policy of the Govern
ment.
Pig iron remains steady at SIS 50@19 90
for No. at the East. West the markets
are more buovant and advances are reported
at St. Louis and Cincinnati, although sales
are not active, as consumers are fairly sup
piled. More speculative purchases of
Southern are announced. Steel billets and
blooms are higher, and manufacturers are
oversold. Merchant iron is slightly higher,
as are nails at the West. Steel rails are S35
at the East and S37 at the West, gain of
IS per ton on the year. Bessemer pig is
higher. Copper is in better demand at Is
cents for lake, an advance of cents within
amonth.
Very moderate offerings of raw sugar and
the needs of reiners at Atlantic ports, COM
bined to establish an advance of &c. Melt
less for nine months of this year than last,
while domestic stocks of raws are only Is
per cent of those held wear ago. The in
creased demand for refined advanced several |
grades 1-16G 1Se. The report of the revolu- |
tiou in Brazil being quite pacific, coffee
prices were not affected as might have been
expected. The lower crop estimates, moder-
ate primary market deliveries and increased
domestic demand quickened speculation and
strengthened prices about 1%934c. per |
pound. There were dealings here in 532, 900 |
bags for the week, more than double the |
aggregate for last week.
AGRICULTURAL LINES.
There has been a tendency to weakness in |
breadstufs this week. Receipts of spring |
wheat at the Northwest continue about as |
heavy as heretofore. The export demand, |
which increased notieeably within a fort |
night, maintains only fair proportions. |
Prices, however, remain hardly steady Tor
-four and 24G7Sc lower for wheat, with |
cahled demand light. Indian corn is off |
5s91c on fears of heavy shipments from the
interior. Oats are up &c on better export
demand and firm holding. Rye is also up
sc. Exports of wheat (and -four as wheat) !
from both costs this week aggregate !, SCI, ,462
bushels, against 9, 591, $50 bushels last week
and !, ,446, 412 bushels in the like week last
year. The total shipped abroad from July
! to date amounts to 40,S187S0 bushels.
against A, ,013.000 bushels in a like portion
of 1883 and 63, ,27S, 900 bushels in 1887.
Cotton and wooden goods present a sharp
contrast as regards demand and prices. The
former are in liberal request and in the
case of brown sheetings, drills and print
cloths at advancing prices. Woolen mems
wear goods are moving slowly. Manufac-
turers' efforts to get higher prices than last
season look dubious. The jobbing trade as
q whole is slow, the exception being in holi-
day goods Raw wool is in slightly better
demand, both at the seaboard and in the in
terror. Raw cotton is dull and leatureless.
with bearish tone, due to issuance of large
crop estimates on Liverpool.
Business failures reported to BrddStreet's
number 259 in the United States this week.
against 2l7 last week and 253 this week last
year. Canada has 81 this week, against 80
last week. The total of failures in the
United States January 1 to date is10, ,1O7,
against 5000 in 1889.
EFFECT OF THE REVOLUTION.
R. G. Dun & Co. IS weekly review of trade
SAYS: The Brazilian revolution has had
surprisingly little influence in the markets
as yet. Coffee is only an eighth higher for
the week, and the new Government appears
to be so generally sustained that apprehen-
sion of closing of ports or interruption of
trade has almost ceased. But it is possible
that the money markets were indirectly
affected to some extent through Europe,
where the uncertainty continues The Bank
of England lost for the week 81, ,105, 900, and
the Bank Of France $3.50, 900.
Here money has been scarce and dear at
times, tight at Philadelphia and decidedly
close at Boston. While the Treasury has
taken in for the week s., $50, 900 more than
it has paid out, the heavy exports Of
domestic products give strong assurance
that the money market will hardly be dis
turbed BY demands from abroad
The marketing of crops and movement of
money from this city to pay for them, have
produced an easier situation at Western and
Southern centerS, and while no change is |
reported at Chicago, and money is active at
per cent at Milwaukee, it is at other
points reported distinctly easier, or in
ample supply for legitimate business.
STEEL RAILS STRONG.
The great industries are making steady
progress. Though the sale of steel rails at
$35 reported last week, was of small uuan-
tity and to a speculator, yet the market is
undeniablY strong, and pig and most forms
of manufactured iron and steel fully main
tain previous quotations The cotton man
ufacture has been doing steady business,
with firm prices, and as to its prosperity evil
dence is afforded by dividends averaging
9.73 per cent, yearly on 80 Fall River mills.
The woolen goods business does not appear
at Boston to be improving to any great ex-
tent and it is now definitely settled that no
advance over last years prices will be at
tempted, but there has been more activity
in the wool market here, at Philadelphia