Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-06-28
OWING TO THE HEAT
The Volume of Business During the
Past Week Has Decreased.
sTEELRAILS ADVANCED 81 PER TON
Failures Show an Increase of 21 Over the
Preceding Week.
TRE OUTLOOK FOR THE FALL TRADE


noticeable particularly at St. Louis, Kansa
City, New Orleans, Memphis, Omaha anc
Cincinnati. The customary check to dis
tribution with the approach of midsumme
and the extreme heat which prevailed at tn,
West are responsible for the change noted
Crop prospects generally are favorable, ex
cept for sugar in Louisiana and grain il
Western Kansas California wheat Il
threshing out better than was expected. The
movement of staple cotton goods, of boot
and shoes and leading groceries is vel
maintained, but in most other lines this il
not true.
Cattle and hogs are stronger at various
Western markets, but on diminished re
ceipts rather than increased demand. Coffee
and sugars have receded 20 and &c respec
lively. Bank clearings at 81 cities for the
six DAYS ending June 26, are 81, 116. 790, ,092
decrease from this week last year of eight
tenths of l per cent. New York Clty'i
clearings, which constitute COG per cent o.
the grand total, are less than those for the
like period last year by over SO per cent
while at 30 other cities the gain is 1876 pei
cent. Stock speculation at New York shows
stronger tone and prices are higher, the an
hOuuCcHeuI VI Iue duNeTSe OplulOu III Tue
Sugar Trust case enabling the market to
cut loose from that disturbing influence.
Reports of railroad consultations and rate
war settlements also hel prices.
IRON AND STEEL QUIET.
The volume of business in iron and steel
for June has fallen below anticipations.
Throughout the West and South good
trade has been done in crude iron, and quite
number of Southern iron makers are at
least asking more money for crude iron for
future delivery. Steel rails have been
marked up 81 per ton, with frmer market.
Anthracite coal production is now within
l5,OOO tons OF the output to the like date last
year, with higher prices to take effect July L.
Wheat stocks available, both coasts, prom
Use to be 100000 bushels larger on july 1
than they were one year ago. If 20, 600, 900
bushels be allowed for wheat added to (de-
pleted) reserves, Is, ,O00, 900 bushels for ex-
cess exports, as compared with 188e-89, and
| 5000, 600 for food (more than in the year be-
fore), the aggregate, $4,000. 600 bushels, rep
resents all the excess wheat from the crop OF
1889, as compared with 1888, notwithstand-
ing the Government reported an excess of
"a, 200, 900 bushels. Wheat has weakened,
as have corn and oats, crop damage reports
failing to offset the general prospects of
favorable harvests. Exports OF wheat (and
| flour as wheaD rom both coasts this week
equal /, 495, 057 bushels of wheat, against
l,555. .S51 bushels in the like week last year,
and as compared with l, ,224, 400 bushels last
week. The total exported June 80, 1889, to
date is 104, 5S4, ,0S1 bushels, against $751;
Col bushels for a like share OF 18SS-S9.
SELLING AT CLOSE MARGINS.
Jobbers have sold considerable quantities
drvnnnde
der to close out their open stocks OF season.
able goods preparatory to stock taking. In
the regular way business has been quiet to
fair, agents for fall wear dress goods re-
porting most activity. Cotton goods prices
are generally firm, print cloths alone being
weaker. Woolen goods demand and prices
are unsatisfactory. Cotton fannels prices
Tor next season are those now ruling. Wool
is dull and weaker in price at interior mar
kets on slack demand and reports of lower
prices at London wool sales. Cotton is 5-16c
lower on pressure to realize, lower cables
and good crop reports.
business failures reported to Brddstreet's
number 165 in the United States this week.
against IA last week and 211 this week last
year. Canada had IL this week, against IS
last week. The total pumber of failures In
the United States January / to date is
5,4O0, against 1885 in like portion of 1889.
AS SEEN FROM ANOTHER SOURCE.
R. G.. Dun 8 Co.'S weekly review
of trade says: While the volume of
trade as indicated by special re-
ports, by bank exchanges at interior
cities, and by railroad earnings, continues
larger tnan in the same month of any pre-
vious year. the prospect for the future is
rendered less satisfactory by industrial hesi-
tation ano by doubt in regard to the none
tary outlook. Industrial hesitation results
from the delay of legislation and increased
uncertainty regarding the outcome. Wool |
is distinctly weaker in the interior and at |
Eastern markets, and disposition is shown |
to meet the needs OF manufacturers This |
uncertainty also affects estimates of the |
future demand for iron, and SO continued |
addition of new furnaces weakens that mar
ket. Large transactions in structural iron
and rails have been closed, but without |
prices.
THROUGHOUT THE CoUNTRY.
Business at other cities is maintained for
the season, and the exceedingly confined
tone prevailing does not at all abate. Bos-
ton notes good demand and higher prices for
cotton and leather goods, demand for lum-
ber and large receipts of wool, which tend
to weaken the market. AT PHILADELPHIA
COAL is Qull. CnlcagO continues COnQuent
of large and profitable fall trade. and the
statistics of the Board of Trade show in
crease over last year in the grain business
and in seeds, a slight decrease in meats, but
a gain of nearly 100 per cent in dressed beef,
an increase in lard and large decrease in
butter. The drygoods business exceeds last
years, and the prospects OF the cloth
ing trade for the fall are thought
quite fattering. st. Louis reports trade in
all lines above the average; Milwaukee
notes excellent crop prospects and good
business. At Detroit business is quiet. An
average business is reported at Kansas City,
and no change at Pittsburg except that,
while iron mills are fairly employed rails
ire 81 lower and glass works closing for the
'eason.
In all the reports, whether from North or
South, there is noteworthy absence of
complaint about collections, and money
markets are fully supplied, but the demand
S quite active at st. Louis and Cleveland,
md pushes close upon the supply at Mil
Faukee while it is weak at Kansas City.
Ihe money market is firmer at Boston and
Pittsburg, but plentifully supplied at
Chicago and easy at Philadelphia, and the
coming July disbursements are expected
o cause greater ease everywhere.