Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-02-01

ported indications OF an unexpected check 10
general trade in January as compared with
1889. California reports decreased wheat
acreage and adverse weather conditions with
reference 10 the next CROP General trade on
the Pacific coast has been restricted by IL
weeks of rain and six days snow blockade
of the Central Pacific Railroad.
Hats, caps and furs, boots and shoes,
clothing and wool have all been unfavora-
bly, affected by return OF mild weather.
Almost all leading trade centers report
only a fair volume of business. At New
York stocks ofhides are heavy and prices
are lower. In fact, except fine butter and
cotton goods, steel and the better grades of
iron, nearly all staple commodities have de-
elined in price or have shown a tendency to
do so.
IN SPECULATIVE LINES.
The New York stock market after the
heavy gain of s., 600, 600 in bank surplus re-
serves, promised higher prices and bullish
temper, which appeared promptly on Mon
day. But desire to realize on paper profits
resulted in a reaction, and the market closes
heavy and hesitating, wiki prices lower. In
creased earnings OF the Pennsylvania sys-
TEN and of the Deleware and Hudson had
favorable influence, while the withdrawal of
Union Pacific and Northwestern companies
from the Interstate Association was ad-
verse. Money continues easy, and is ex-
pected to remain so for some weeks. Bonds
are firm and in good demand.
The probability of a decline of 30 cents per
ton in pig iron prices, with the increased at
tention attracted to the enormous produc-
tiOu, has been discussed by makers and buy
ers. A -ew weaker furnace companies have
sold at sh .ued figures. Larger makers de-
mand full prices. Western steel rail mills
have advanced prices 81 per ton, but report
no sales at the advance.
Available stocks of wheat, United States
and Canada, east of the Rockies, as reported
10 BrddStreet'S S, aggregated 81 301, ,312 bushels
January %, decrease on the week of 609.-
4OS bushels; like corn stocks were Is, ,43O, ,621
bushels, gain of 147, ,296 bushels Added
to stocks afoat for Europe the total of wheat
becomes 72, ,173, ,3l2 bushels, 433, ,4OS bushels
less than on January 49, and of corn "a
3e4 621, or 475, bushels more than on
January IS.
AGRICULTURAL EXPORTS.
Exports of wheat (and -four as wheat)
from both coasts this week, as reported to
BrddStreet'S, equal l, ,613, 354 bushels, against
1,809, 500 bushels last week, and 1 192. .1O1
q v.
exports July / to date equal 81 ST., ,7S1 |
bushels, against So, ,282 101 bushels in seven |
months of the previous cereal year and S3,- /
AIS, ,S25 bushels in a like portion of 1SS7-SS. |
Wheat -four, with unusually heavy local |
stocks, estimated at about 1000, 900 barrels |
and sacks, and continued pressure of sup /
plies and tame demand, is off 5015 cents |
per barrel. Wheat has declined 13SG1B |
cents in the week-1I022s cents at Chi
l.. l., ! = /
and indifference of exporters. Indian corn,
too, has declined sharply 3z01X cents on
dull cables and dressed export movement.
The decline in oats was likewise ~ cents |
Five days' exports of oats from New York |
equal 325, 600 bushels. There has been a
sharp reaction in hog products led bv the |
west pork dropping 25975 cents per barrel
and lard S(Gl5 points per pound.
A light movement in sugar is accom-
panied by slight weakening in prices of
raw. Full production with modified de-
mand for refined at New York resulted in
decline of &c. Refners' profits are now
estimated 15c per pound, against &c profit
per pound a year ago and at other periods
Coffee in jobbing and distributing lines has
moved less freely, and prices, notably for
Brazilian, are off 1sc.
DRYGooDs QUIET.
Is
trade for January is disappointing. Cotton
goods prices are firm, with an advancing
tendency, owing to higher cost of raw mate
rial. Print cloths prices gained slightly.
Woolens are quiet and clothing dull Raw
wool is dull, with prices tending lower, nota-
bly, on Territory, California and Texas wools.
Cotton is less active after reaction of 1-16
91sc-
Business failures reported to Bradstreet's
are declining in number, amounting to 2S6
in the United States this week, against 324
last week and 331 this week last year. Can
ada had 80 this week, against SO last week
The total of failures in the United States
for the month of January is 1,628, against
! COG in 1889.
R. G. Dun & Co.'s weekly review of |
trade saws: The closing of one considerable |
bank and two smaller ones, tends to impair
public confidence. In other words the news
is less favorable this week. The financial
pressure at London does not abate, and
there are reports that heavy Withdrawals of
gold for South America or for France will
soon be necessary. Foreign exchange here
grows stronger, having risen from 81 S63l to |
"a 87%. Sales of bonds have been small,
and the Treasury has taken in nearly ST.
1OO,OOO more cash than it has paid out
COLLECTIONS SLOW. 1
hardness of collections at various in
terror points causes more complaint, and the
1nseasonably mild weather once more de-
presses many branches of trade The ex- =
ports ior December proved much larger than |
had been expected, with an excess of 37,- {
JOO, 200 over imports. The exports in Jan G
nary from New York have been smaller b
,han last year by 81 per cent.
Money at New York is abundant and
cheap on call, and the demand for CONNER
,ial paper is now strong here and at Pbila- p
ielphla; at Chicago rates are unchanged r
With fair demand; at st. Louis the market
s stronger At to per cent with good de- =
nand; at Cleveland and Milwaukee the
market is fairly active with ample supplv.
md at other western points somewhat {
asier, with moderate or fair demand
These facts suggest doubt whether LARGE
upplies will be available for the East. If k
BUSINESS activity continues. =
The later indications of business activity
re not quite so satisfactory. A heavier
movement followed the cold days at Boston. !
ut wool sales were only 2, ,400, 900 pounds
nth market weak and depressed, except
Or combing and delaiHe. Goods do not i'm
rove. An unexpected demand has raised g
omestic hides Il to a cent, but foreign are !
ull. Leather is selling more freely. Phila-
elphia notes few sales Of wool At Chi
ago dealings in grain and meats are large
ut in drygoods somewhatless for the pasttw
-eeks, and the shoe trade shrinks little.
distribution has been fair at St. Louis,
'maha and Kansas City; very fair at De-
-oit, but dull at Cleveland and depressed
gain by weather at Milwaukee. q
NOT UP TO EXPECTATIONS.
From the reports telegraphed it may be I
lierred that trade since the new year began
as not answered expectations, and there are
lme sipns that the cold wenther Is nnt snlplr