Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-05
ESPECIAL TELEGRAM TO THE pIsrArcH.i

ESPECIAL TELEGRAM TO THE pIsPArcH.i
NEW YORK, October Especial tele-
grams to Brddstreet'S indicate the wider
prevalence of cooler weather. which has
materially aided the distribution of staple
and other general products. The move
ment from jobbers' hands is as yet relatively
more active than from retailers. Merchants
at Western centers very uniformly report a
better September trade than in 1885, with
bright prospects for the coming month.
Francisco. the seasons pack being estimated
at 4O0, 900 cases-same as last year.
Speculation in stocks has Welded to the
influence of financial disturbances The
unexpected shipment of 81, 800, 900 gold to
Europe in connection with the Brazilian
loan creates some uneasiness and keeps
money on high level. The severest falls
in stock values were in the trust specialties
and Atchison, but the general list suffered
also. Bonds are dull. Money on call at
New York this week has ranged from to
25 per cent 1t closed on Friday at 6 per
cent after rallying at 10912 per cent for
Tue OdN. Or6lEn eACUdOpe Is uus6Ll1SO.
Demand sterling 81 S61594 81.
AGRICULTURAL PRODUCTS.
There has been more activity in bread
stuffs, with declining prices. Dealings in
wheat are heavy, &c, ,000, 900 bushels for the
week, with free movement and liberal offer
ings. Prices reacted 15sc. Stocks in sight
September 2S, as reported to Bradstreet'S,
aggregated 26734, 900 bushels 10000, ,000
1 nd <
bushels more than on September 1, 1889.
Exports of wheat (and -four as whest)
both coasts, this week, equal ], ,624, 493 bush
els, against 1,650, ia bushels last week, and
1881 619 bushels the first week of October
1888. Total shipments abroad, July l to
October 4, equal 25, S39, ,207, against 33, POL
024 bushels in a like portion of 1883. In
dian corn is bearish and off 7s@11sc, with
heavy arrivals, and s,255, 900 out of the
17,74S, 900 bushels in sight are in transit
toward tidewater. Brddstreet's Australian
cable reports available wheat stocks there
and in New Zealand, October 1, amounting
to 1865. 900 bushels
Pork has held its own at New York as to
prices, Notwithstanding the serious dis
turbance at Chicago, with only moderate
sale. Other hog products have fuctuated
considerably, lard losing 4 cent. Live hogs
at Omaha and KansasICity have declined 10
@20c on the depression in Eastern markets.
THE IRON MARKET.
Domestic iron markets are as strong as
ever, but slightly less active, buyers of
crude particularly preferring to wait for in
creased output to come to their aid, in view
of moderate advances in prices asked.
Mills, forges furnaces and bloomaries are
in most instances crowded with work.
Business failures reported to Brddstreet's
har Sla foI CTo4o Il
against $50 last week and LAG this week last
year. Canada had 30 this week, against 80
last week. The total OF failures in the
United States, January to date, is s, ,494,
against z, 476 in 1888.
r. G. Dun s. Co. s weeklyreview oftrade
says: A closer money market, as was an
ticipated last week, has checked operations
to some extent. The shipment of s., 900, 900
gold to Europe by firm engaged in placing
two large loans for foreign Governments,
and therefore anxious to prevent further ad-
vance in Bank of England rates, was all the
clearer evidence of the actual demand, be-
cause made at small loss, reckoned at the
current rate of exchange. A sudden fall in
the rate from 81 SS to 81 S6% was followed
by an upward movement again, and it seems
not improbable that the exigencies of the
Argentine Republic and the placing of the
Russian loan may for some time to come
affect the money market here.
INCREASED ACTIVITY.
The reports of business from all parts of
the country show increased activity on the
whole though in some branches trade is
not up to the September level. Chicago
finds business larger than year ago, with
heavy country orders, showing large de-
mand and easy financial condition through
out the West.
The years receipts of cereals fall off a
little, but Of provisions are nearly doubled.
Cleveland finds all branches improving, and
factories full of orders. Pittsburg notes
higher prices for iron and steel, glass bus
iness active, with works all operating, and
the coal trade dull, waiting water for the
river movement.
Throughout the West excellent crops are
the basis of large buying BY the farming
districts, and confident hopes as to the trade
for the rest of the year. The bank ex-
changes for September show an increase
over last year of only per cent at New
York, ~ per cent at Boston, Philadelphia
and Chicago, and ~ per cent at all other
cities taken together.
TOO MUCH OF A BOOM.
The iron business is in some danger of
running into an unhealthy ''boom." so
great is the anxiety of many to stimulate
the demand. Several large furnaces are
about going into blast and Southern No. 1
is still sold here at SIG IS, but higher prices
than S1S are paid for desired brands, which
are scarce, and structural, plate and wrought
pipe are strong. But of bar there is not
much buying, and some mills are inviting
orders at 81 IS.
Rails have actually sold for S29 in con-
siderable quantity at Eastern works, but
Philadelphia quotes S31 and the West cor
respondingly higher prices. Only $500
miles of railroad have been built in nine
months of this year. and it is still an open
question how long the demand for iron and
steel products in the aggregate will equal
the constantly increasing supply.
The wool market shows better tone, be-
cause concessions in prices have induced
larger transactions, but the high prices
asked still push consumers 10 take a great
deal of cheap foreign wool instead of Amer
ican.
A COMPARATIVE STATEMENT.
The business failures in the United States
for the quarter ending with September were
2,276, showing a decrease of S. or 81 per
cent from last year, but for nine months the
number has been z 7,s79 showing an increase
of 329. or 4 per cent. The Liabilities FOR the
past quarter have been sweiied by a few large
failures to S39, 227, ,O45, or 40 per cent more
than for the same quarter last year, but Tor
nine months the aggregate has been Si05,-
05J, $50, an increase OF 16K per cent. The
failures in Canada show a decrease of 5 per
cent in number and 40 per cent in Liabilities
for the past quarter; for the nine months
there have been only 303 less than
last wear in number but 16 per cent less in