Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-16
FEATURES OF TRADE.
The Money Market Advancing and
Business on the Increase.
IRON In VERY ACTIVE DEMAND.
Breadstufis Higher, Owing to Unfayorable
Crop Reports.
BIGGER PRICES FOR MOST STAPLES

NEW YORK, August 15.-Special tele-
grams to Bradstreet's show few changes in
either the agricultural, industrial or COM
mercisl situation. There have been extern
sive rains sthroughout large areas in Missouri,
Kansas and Nebraska, but they came too
late to repair the damage done the cereal
crops, particularly that of Indian corn.
Cotton crop estimates are not quite as large
as a few weeks ago. while those of wheat, corn,
oats and barley are as low as previously re-
ported. Sugar and rice crops promise well.
Fruit yields, too, are short and prices
higher.
After suffering severe depression on ac-
count of the New York Central strike and
the disturbed money market, share sp-eula-
ton is again strong and advancing, princi-
pally upon foreign buying, and expectations
that the Treasury will in some manner
relieve the money market. Bank clearings
at 81 cities for the week ending August IA
are, 81, ,092. 767 1857. a gain over this week
last year of 10 per cent New York City's
clearing, which constitutes ga per cent of
the grand total, are more than those for the
period last year by 1876 per cent, while at
80 other cities the gain is 17.6 per cent.
HIDES AND LEATHER RISING.
The feature of the week is the continued
advance in prices for hides and leather.
As an outcome boot and shoemakers are
actively employed. In Nebraska and some
sections adjoining where the drought has
been heavy, merchants have countermanded
orders for goods, fearing the effect of short
crops. Chicago and New Orleans appar-
emily enjoying relatively the most active
demand for staple goods.
Iron is growing steadily stronger. Quoted
prices are no higher, but at this time they
are no longer tests of the market, No con-
siderable quantity Of pig iron could be pur-
chased at nominal quotations. The largest
individual producers at the East can hardly
fill contracts, and stocks in first and second
hands are very light. It is evident that any
considerable increase in the demand would
result In an upward rush in quotations.
Anthracite coal buyers, for some reason, ap-
pear anxious to delay purchases, and the
trade lsnguishes in consequence, with the
prospect of a rush and inability 10 fill con-
tracts promptly later in the season. Cop
per is quiet here and abroad, with hrmef
tone. Hog products are q trife weaker,
lard having reacted few points. Pork is
practically unchanged. Live hogs at the
West are 5@10c lower per 100 pounds, and
cattle on declining receipts, 15c higher.
Raw sugar is one-eighth and refined one
sixteenth of cent higher on good demand,
decreased stocks and higher foreign mar
kets.
THE ADVANCE IN GRAIN.
Wheat, corn and oats have been affected
BY unfavorable crop reports and heavy
speculative demand, the first named advanc-
ing sos cents, corn l a cents and oats fully
cents per bushel. Available stocks have
not begun to increase yet. Exports OF
wheat, both coasts (snd -four as wheat),
equal i, ,983, 189 bushels this week, against
1914, 900 bushels in the like week of 1889,
and 2, 166, 263 bushels last week. The total
exported, July to date, is IL, 917, 228 BUSH
els, against II ,250, 900 bushels in like share
of 1889 and Il, ,653, $50 in 1888.
Foreign trade tor the fiscal year 1SS9-90
was the largest on record, aggregating ST.
GA, ,047 ,062, gain over 1Ss8-Se of 1913 per
cent. Imports, which aggregated $789, ,322,-
22s exceeded those of 188S-s9 by SO per
cent, also the largest ON record. Exports
aggregated $S45, ,293, $685. a gain of 1877 per
cent more than the total the year before, and
excepting 1881 were the heaviest ever re-
corded. July was more of moderate
creases last spring are considered. The per-
centage of gain is slightly larger than that
for June.
INCREASED RAILROAD EARNINGS.
Earnings of 1876 railroads for July aggre-
gate $50. 1852, 1856, an increase over July, 1889,
of 500 per cent, that month In turn gaining
S.S4 per cent over July, 1888. The South
ern, Southwestern and Pacific groups con-
tinue to make the best relative showings.
Earnings of 80 railroads for the first seven
months of this year aggregate S238, 702, ,766,
a gain over 1889 of ILL per cent, which
year. in turn, showed gain of SO per cent
over 1888.
Drygoods continue in satisfactory demand,
particularly from jobbers. Southern and
Southwestern buyers are more numerous at
the Eastern markets. Orders for fall goods
are reported good by agents. Strikes have
delayed the movement of drygoods on orders
somewhat. Prices for cotton goods continue
firm. Print cloths are frmer on reduced
production by Fall River Mills Some
makes of bleached cottons are higher.
Woolens are in better request, but un-
changed in price. Wool is steady and un-
changed The loss Of sheep last winter and
the increased demand for mutton has short
ened the Cslifornis fail wool clip. Cotton
is S-16o lower on weak Liverpool adviees,
slack demand and increasing receipts of new
crop.
Business failures reported to Bradstreet's
number 148 in the United States this-week,
against 155 last week and 1T this week last
year. Canada had 20 this week, against 26
last week. The total number Of failures in
the United States, January to date, is
6,503, against I, 7,209 in like portion of
1889.
THE SITUATION BRIEFLY STATED.
R, G. Dun g. Co. 3 weekly review Of trade
says:
The industries are dong rather less, and the
speculators are doing more. That is the weeks
history in brief. The general average OF prices Of
commodities is rapidly rising, and has advanced
more than ~ per cent during the past week.
Weeat has advanced ~ cents, with sales Of
10000 900 bushels here; osts, cent, and corn.
cents, Oh sales Of s5O0O 900 bushels. Pork 10 half
o dollar per barrel lower. but hogs are coming
forward in great number and do not advance.
The exports OF grain are already affected by
prices, and of -four and corn shipments are less
than half those Of the same week last year.
Cotton has fallen three-sixteenths, but 10 still
so high that purchases are limited, Coffee has
has not changed, and consideIaole demand Tor
A heavy decline appears in the weekly out
put Of pig IRON which was G ia ~ aSS tons August
decrease is attributed mainly TO the close of
furnaces for repairs, but last year the produc-
tion increased 5000 tons from June l to Au-
works. which were to have begun operating
two months ago, are still waiting. Prices show
little change, though one large Southern con-
Germ is reported 70 be cutting literally. The
sustained, and some forms of plate iron are
little higher.