Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-09-20

eral trade, as q whole. lS fa1rly satisfactory
for the season, although prolonged rains
have had some influence. There was
marked development of conservatism at
New York, Boston, and Philadelphia dur
| ing the week, and this was reflected as we'll
in banking operations at larger Western
and Southern cities. The tight money mar
ket, with fears of disaster in the absence of
special measures for relief, unquestionably
had a temporarily retarding influence upon
the movement of goods.
Prices are practically unchanged for
metals and manufactured articles, but for
| the moment are lower for most cereals and
other food products. The Louisiana sugar
begin there in about three weeks. Some
| damage to cotton has been reported, but the
rice crop promises well.
FRUIT HIGH AND DULL.
Wheat exports from the Pacific coast are
very much reduced. Ships are scarce there
and prices lower. Supplies are quite heavy.
California fruit is dull, owing to the fancy
prices asked by speculative holders. The
wine crop on the Pacific coast is short and
prices are firm. Iron has remained dull at
former prices. Southern irons are not COM
ing East at present. Anthracite coal will
be advanced in price, as the demand is
stronger and the movement beginning to be
active. Petroleum is lower, weak and
| neglected. Copper is stronger and plan to
put lake ingots above 17c is being discussed.
The demoralizing influences of stringent
| money rates have disappeared from the
chora bat hory
improved, but speculation still hesitates
somewhat in spite of the announcement of
several railroad deals. Moderate gains in
| railway company gross receipts in July fail
| to offset increased operating expenses grow
ing out of low rates and heavy expenditures
for betterments. The result is the first de-
crease in net earnings reported for year.
The total net earnings of LOG companies for
July aggregated SIG, 314, 105, decrease of
more than 1Per cent as compared with July
year ago.
DECLINE IN RAILROAD RECEIPTS.
One-fourth of all the roads reported show
decrease in net earnings, the poorest off
being the Grangers and Trunk lines. and
the best the Central, Western and South
western lines. For seven months net earn
ings aggregated S95, ,495, 1853, gain over 1889
of 9.96 per cent, gross receipts gaining 10.47
per cent in the same period.
The price of wheat declined and 8
cents this week on decreased exports, in
creased stocks and easier foreign markets.
Indian corn reacted 1Lc as well. Pork is
easier, and lard Is off few points. Exports
OF wheat and -four as wheat, both coasts,
equal 985, 175 bushels. In the like week
last year the total was 2,098, GIT bushels.
Last week it was ,48O, ,O58 bushels.
At last the check to the heavy export
movement since July mas set in. The
total exported since that date is 23,01O, $50
bushels. In like portion Of 1889 the cor
responding total was %, 564, ,0O1 bushels,
and in 1888, &c, ,65S, ,387 bushels. Shipments
of Indian corn this week equal 561, PAT
bushels. Last week they amounted to 457.-
029 bushels.
TRADE IS FAIR.
Unfavorable weather and holidays have
reduced the drygoods trade at leading East
ern markets. Trade. as whole, is fair.
The heavy fall rush is over, but demand is
still satisfactory. Prices are firmly held
Print cloths are still weak. Spring goods
are in good average demand from agents.
Woolen goods are in quite good demand a.
first hands. Prices are strong. Territory
and pulled woods are in better demand at
full prices with slight advances in some in
stances. Carpet and Ohio and Michigan
varieties are quiet, as are also Australian
woods. Cotton is less active and 3.16c lower
on Spots owing to free movement and lack
of demand.
Bank clearings at 81 cities for the week
ended September 18 are 81, ,275, ,897, ia,
gain over this week last year OF 1876 per
cent. New York City's clearings, which
constitute g. per cent OF the grand total, are
greater than those for the like period last
year by 20.5 per cent, while at so other cities
the gain is Is per cent. Business failures re-
ported to Bradstreet'S number 167 in the
United States this week against 162 last
week and 100 this week last year. Canada
had 30 this week against % last week. Th
total number of failures in the United States
Januery to date is 7,267, against 8, 126 in
like portion of 1889.
ROOT OF THE TROUBLE.
r. G. Dun & Co.'S weekly review Of trade:
The root of the difficulty is that wheat is
quoted at 98Z at Chicago, 81 027 here, and
only about 81 03 at Liverpool for the same
grade, so that no free and natural movement
to the seaboard or hence to Europe can take
place. Similar obstacles check the move
ment of some other products. Exports OF
wheat and corn are not half those of last
year at corresponding dates. but imports are
coming forward in large volume, anxiety to
get goods entered here before the new tariff
goes into effect being great. In half oil Sep
tember the increase of imports over last year
at New York has been 9 per cent, but
the decrease in exports hence has been 10
per cent.
The movement during the past week has
been toward natural adjustment of prices,
and wheat is 81 cents lower, with sales OF
81, 900, 900 bushels; corn, ~ cents lower,
with sales of II, 000, 600 bushels; cotton IA of |
. oonf 1owar yui fh "a lac of 900 000 ho1oa -
lard and hogs shade lower. But oats
butter and some other farm products are |
higher.
IMPROVEMENT IN WOOL.
The interior money markets are generally |
closer, with the strong demand which an |
unprecedented volume of business naturally |
causes. At Boston the stringency affects |
trade somewhat, but wool is in much |
better demand, sales reaching B.
693, 900 pounds. Wool also shows inn
provement at Philadelphia, and cotton
manufacture is fairly active The iron trade |
is very active and nailmakers advance |
prices to 81 per keg. Chicago has large
decrease from last year in receipts of grain,
but increase in lard, cheese. hides and wool.
years with prompt collections, and the boot |
and shoe trade also, though for the week
more quiet.
Money at Chicago is close and rates
sitter, the demand being very heavy, but
the stringency does not much affect general
trade. st. Louis notes good fall trade in all |
lines, especially drygoods and boots and
shoes, with money at Z to 8 per cent.
AHEAD OF LAST YEAR.
At all other Western points reporting