Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-05-17
REVIEW OF BUSINESS.
The Weekly Report Shows an Active
Trade at All Points.
THE LOUISIANA CROPS ASSURED.
There is Not o Heavy Demand for Pig Iron
and Steel Rails.
MONEY TIGHT IN THE STOCK MARKET
ESPECIAL rELEeRAM TO THE DISPATCH,

ESPECIAL TELEGRAM TO THE DIsPArcH.i
NEW YORK, May 16.-Special kilograms
TO BradStreefs indicate a seasonably active
trade movement throughout the country,
with Improvement over the preceding week
In Louisiana and elsewhere in the recently
Hooded district, which, it is reported, will
De Tree from water in time for a crop this
season. Elsewhere in the South prospects
are excellent. The weather has been favor
able Tor trade throughout the West, but at
st. Paul the general merchandise movement
for May has not equaled that for like
period last year. Only moderate activity
is reported from Philadelphia, the auction
offering at New York having drawn off al
tention considerably.
The industrial situation is rather less dis
turbed this week, there having been report
ed only 81 strikes, involving 4,69O en-
ployes. The strike Of the 5000 tube work
ers was the largest single disturbance re-
ported. For the past fortnight our record
OF strikes exceeds all records for any single
month, these including 182 strikes, involv-
ing 81, GIG strikers.
There is no gain in anthracite coal and
pig iron is as heavy as before, and Southern
irons are pressing North with undiminished
vigor. Steel rails have been cut 50 30 per
ton, and billets are reported at bedrock as
10 prices. Nails and structural iron are
relatively most active. Raw sugar is off
nc, with refined shaded. There is no ma
terial change in coffee, which is supported
mainly by active speculation. Lard and
cutheats are irregular in price and weaker.
Live cattle are off 100000 per cwt on heavy
receipts.
MONEY TIGHT IN STOCKS.
The bull stock market continues in full
force, prices advancing on enlarged buying
by the public and Europe. although money
is tighter and the Western rate troubles are
still unsettled. Reports to Brddstreets of
net railway earnings in March from 1OS
companies, show an increase of 9.3 per cent
in excess of the record of the same companies
in March, 'S9, as compared with an increase
of only Il per cent in February's net earnings
this year, as compared with last For the
first quarter of 80 the net earnings of 129
railway companies show a gain of III per
cent over the corresponding period last year.
The trade sales of fannels at New York
(2S,0O0 cases valued at $5,5O0,000) have
monopolized the attention of the drygoods
trade to the curtailment of regular business
in this line. Results of the sales are, as a
whole, unsatisfactory, the late mild winter
and heavy stocks in dealers hands depress-
ing prices to 20 per cent below last year
and on colored fannels generally below
actual cost of production. Wool is very
firm and in fairly active demand on de-
pleted stocks. The strong demand on East
ern manufacturing account at Philadelphia
advanced slightly. Cotton is dull and Lice
lower.
PRICES OF BREADSTUFFS REACTIvE.
The week has been one of reaction in prices
of breadstufs, on varying Interpretation
of the Government crop reports, checked
Atlantic coast sales for export and weaker
cables, wheat and Indian corn each losing
&c and flour feeling the effect. Exports
of wheat (and flour as wheaD both coasts
this week aggregate 1,7S5,066 bushels,
against !, ,951 ,469 bushels in the like week
last year, and 1878, ,270 bushels last week
The total shipped July1 to date is "a, 110, ,954
bushels against n, ,309, ,215 bushels in a like
portion OF 1S8S-'S9.
Business failures reported to Bradstreet's,
number 151 in the United States this week
against 152 last week and 199 this week
last year. Canada had 16 this week against
26 last week. The total number of failures
in the United States January to date is
4, 421, against 4, 769 in like portion of 1889.
R. G. Dun & Co.'s Weekly ReuieO Of
ahead until 1t has absorbed all the money
within reach, and now some signs of re-
action appear, with a little selling by |
foreign holders. Substantially the same
phenomena have been observed in the |
wheat and corn market, and in the market |
for pork products. Each has at command a |
LIMITED AMOUNT OF MONEY.
When that supply is absorbed. whether
nv II az of Re aI L.
vancing prices, a reaction is natural. The |
tendency of prices during the past week |
has been downward, wheat declining
cents on sales here of only "a, ,OOO, 900 bush
Els; corn "a cents on sales of 500, 900 bush
Els, while oats are steady. The trade begins
to comprehend that inside of 80 days a new
crop of wheat will begin to come into the
market, and while winter wheat is certain
10 be short. the reports from spring wheat
States indicate great increase in acreage
md good condition. The cotton market is
sluggish. Oil is 22s cents higher, without
lefnable reason.
a The market for iron is weaker, and the in
creased production is sufficient explanation,
The Philadelphia market is waiting" the
Pittsburg market is less strong in tone, and
ales of Southern iron continue to push
lown prices at New York.
Steel rails have been sold this week at
80 so and S31 is freely quoted. The
market shows no improvement,
,ut plates are in fair demand, and bar iron
S thought to be at bottom. g The key of
he iron business is that railroad building
loes not increase and the demand for
tructuraI iron is cut down by the concession
4 the eight-hour day to the building trades
n many cities. Coal is still weak, but
opper and tin firm and rising. The reports
rom other cities are almost uniformly en-
ouraging.
At Philadelphia, in the leather and boot
md shoe trades there is activity, while the
WOOL manufacture is hindered by apprehen-
ion of higher prices, and spinners take for
immediate wants only. This is true of
Boston also though the prices realized at
he recent flannel auctions here have de-
pressing influence.
EXCEED LAST YEARS SALES.
At Chicago dry goods sales exceed last
ears, and payments are fair, but the
lothing trade Is dull, and the fact that
ank clearings are larger than ever before
nds explanation in speculative activity in
he grain and pork markets.
st. Louis reports a good trade, and sup
lies of money equal to the demand, W hile
t Pittsburg trade is rather dull; at Cleve-
and fairly active, causing some monetary
tringency at Milwaukee,; only fair at St
PAUL, improved by recent rains in the
Northwest where drought began to be
cared; at Kansas City rather quiet, and at
)maha good, with easy money.
The monetary situation at New York has
ot been altogether satisfactory. The
oreign trade of the port is more satisfactory