Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-12-28
ESPECIAL TELEGRAM TO THE DrsrArcu.

| NEW YORK, Oecemper A.-Opeclai Cele'
grams to Bradstreet's show that general
trade has been much quieter even than is
customary at this season in jobbing circles,
owing to the observance of holiday cere-
monies. to the prolonged mild weather and
to the interference of stock-taking. In Cali
fornia there have been only six fair days
within q month, and trade is much de-
pressed by continued rains. The movement
of Indian corn and -four is quite heavy, and
the lack of railway cars at Western dis
tributing centers to meet demands made
upon railway companies for freight room on
old business remains as conspicuous as last
week.
The New York wholesale trade has been
quiet. Retail trade during the holidays has
been disappointing in furs, woolens and
other lines of heavy goods. Country road
ways are heavy. The bank reserves in
creased again, but call loans at New York
on Friday were quoted as high as 80 per
cent, which served to check stock specula-
tion. New York, Philadelphia and Boston
interest and dividend disbursements on jan
uary are estimated at $115, 100000. The
stringency at this time is caused by prepa-
rations to meet this. demand on the banks.
SPECULATION NOT ACTIVE.
Stock market transactions aggregate
very small amount Many operators feel
confident that after the opening of the new
year Wall street will be in position to reflect
the general prosperity of the country.
Lackawanna advanced to-day after declaring
a1% per cent quarterly dividend, aud Read
ing is higher There are 10000 idle coal
miners, and 20, 900 more are to be cut down
one-quarter as TO working time and wages
on January /.
The coal companies cannot have received
as much gross this year as last by S15 0O0,-
600. Special returns to Brddstreet's show
that the wool and wooden goods trades have
suffered three times as'heavy financial losses
from failure in 1889 as they did in 1885, The
total of such failures in the United States is
y this year against 81 last year, and of liza
bilities SIC, ,442, 900 as compared with So, ,6S7,-
600 in 1888, and of assets 81, ,032, 900 against
81, ,976, 600 year ago.
Exports of wheat (and -four as wheat)
both coasts, for this week continue heavy,
aggregating 2,251, ,634 bushels against 2,872,
521 bushels last week and 1, ,229, 141 bushels
in the last week of December, 1888. The
total shipped abroad July to date is 52,-
Al, ,256 bushels against 81, 100000 bushels
last year and "a, SOC, 900 bushels in like
portion Of 1887.
AGRICULTURAL LINES.
All cereals declined this week. Flour
has shaoed on free offerings and reports of
heavy shipments. Wheat markets abroad
are very dull and prices here are down
ss@5sc. Indian corn on a heavy move
ment from the interior has been very active
with price 2sS@25Sc lower. The use of corn
for fuel in the Western States, with coal at
zoe, and corn at 15c per bushel, is extend
ing. Oats shared in the depression of corn
to the extent Of 5I@Zc. Rye on pressing
offers is down 1@2c. Hog products have
been unsettled and depressed in sympathy
with the West, lard and pork noticeably so.
Makers of pig iron are declining to name
prices for delivery after April 1, and mill
owners are placing orders freely, as fur
nance managers are willing to accept busi-
ness for the first three months of the year a.
present prices. The increased cost of ore
and coke and possible advance in the cost
of labor at the opening Of spring have in
spired caution on the part of the E1anufact-
uring interests. A speculative tendency is
apparent in crude iron in several Western
markets. The possibility of an advance in
freights, particularly on Southern iron, is
also recognized. Western buyers have
placed large orders with Southern furnace
managers, to be delivered during the first I
half of the year. At Southern exporting
points inquiries from foreign sources are
being received for prices on crude iron.
THE BUSINESS FAILURES.
Business failures reported to Bradstreet's
number 237 in the United States this week,
against $50 last week and 334 this week last
year Canada had 80 this week against "a
last week. The total failures in the United
States January to date is IL, 500 against
10, 416 in 1888.
The disturbing political and financial
news from Brazil, coupled with the decline
in Rio exchange, checked trading in coffee,
and prices ended 25@35 points lower. On
movement refined sugar is Z99sc !
lower.
R. G. Dun & Co.'s weekly review saws:
At Western points, with scarcely an excep-
ton, the open weather and bad condition OF
roads are noticed as causes of un-
usually slow collections. In other respects |
the reports of trade are generally satisfac- |
tory. The movement of grain at Chicago |
continues equal to that of last year to date. !
The weak points of the situation are those !
trades which are most affected by two sue
cessive mild winters. The anthracite coal |
trade is stagnant in the absence of demand,
and the situation is almost without prece-
dent.
THE WEATHER RESPONSIBLE.
More than half of the Reading coal mines |
have closed, throwing 5000 miners out of |
work, and it is stated that 90, 900 miners are |
working on three-quarters time. The btu
minous coal trade is more active, but lack |
ing cars. No definite relief in the wool |
goods can be expected until prolonged cold
weather has caused a well-sustained de-
nand, and the clothing business in all parts
of the country must necessarily depend to a
great extent upon the weather.