Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-12-30
FEATURES OF TRADE.
Pittsburg's Exemption From the
Money Stringency That
has DEPRESSED OTHER CEETERs.
Signs Of Progress in the Manufacture Of
Iron and Steel.
HOLIDAY GOODS WE'LL CLEANED Up
OFFICE OF PIrTsBURG DISPATCH, 1
SATURDAY. December %. 1889.

SATURDAY. December Is. 1889.
A representative of one Of our leading
banking institutions said to-day: t'There
has been no stringency in the money market
here the past few months to be compared
with that in other leading centers of trade.
In fact we did not feel the closeness of
the money market until November. Up to
that month money was abundant here tor
all safe investments. In the summer met
at the seashore one of the most prominent
fnanciers of the country, who was surprised
to hear that Pittsburg had no fpractical
knowledge Of the stringency complained Of at
Chicago, st. Louis and in fact, all the leading
trade centers.
THE closeness of money did not reach here
till in November, and even yet there is plenty
to be had for any good investments. Our first
realization brightness was when Eastern capt.
talists began to call in loans from parties here
whom they had been carrying. Ali the past
year until the past two months there has been
an accumulation of capital here greater than
have ever known, and no city in the country
has felt the late stringency as lightly as Pitts
burg"
Progress In Iron Making.
An illustration of progress in our iron in
dustries, an article in HGrpers Monthly Of
1880, on Pirtsburg called attention to the fact
as something wonderful and unprecedented,
that furnace B, of the Edgar Thomson works.
turned out 1s4 tons Of metal daily. One of the
furnaces now in operation at those same works
is producing upward of 800 tons every "a hours,
and the two new furnaces which are expected
to be in operation between now and May will
yield even larger results. decade ago the
rule was to have two castings day. Now
there is casting every six hours, and the
amount Of metal yielded each casting. would
have been regarded as big days work for our
largest furnaces ten years ago.
With consumption by our furnaces and
mills Of 1000 900 tons of Lake Superior ores last
so per cent the coming year. it must be evident
that our iron and steel Industries are having
boom.
Heavy DryROods slow.
William Campbell, the Fifth avenue dry
goods merchant, said in a recent interview:
''October's drygoods trade here was beyond any
month for years in volume. If it had kept up
the months of November and December, all
previous records would have been broken. But
weather during those months has been adverse
to trade particularly in woolens, furs and such
goods as are in demand when mercury travels
down to zero. Our drygoods merchants will be
forced to carry over more than usual amount
of heavy goods or do some sacrificing. What
ever the weather may be the remaining months
OF winter. It is now too late TO dispose OF wool
ems without cutting, and look for liberal con-
cessions on this line Of goods between now and
February.
'But notwithstanding the light demand for
winter goods, trade for the past three months
has been up to the corresponding p6riod of last
year. The great activity Of October and the
good demand for light and fancy goods let's us
out, and prospects for the year to come are
very bright.
Labor is well employed. and iron and steel in
dustries are SO generally prosperous that good
year in our line is almost certainly before us.
In this faith our firm has already placed orders
for full line of foreign goods.h
Holiday Goods.
All dealers in holiday goods report an ex-
traordinary trade. A Fifth avenue dealer In
toys said to-day: my sales this week have
been much beyond any former Christmas week
in volume. but profits have been greater in
other years. 1t is with our trade as with all
others Of late years, that competition has be-
come so sharp as to require an immense amount
of goods to be handled in order to win. The
time has passed when dealers in toys can make
big profits. Ny trade this week will reach SIS
000.- This amennt,w would have furnished COM 1
Portable years income in the good old days Of
wore ~