Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-27
Bradstreet's and Z. G. Dun's Last
Weekly Review for the Year.
THE BALANCE OF FOREIGN TRAD
Is About as Heavy in Favor of the United
States as Last Year.
SIGNS ARE GOOD FOE IRON AND STEEL
-xrrcIAb rELEenAM TO THE DISPATCH,

Ions HueIe tnere Is more dcLlFlty III tHS
movement of staple goods in several lines re-
ported, particularly of leather of some
grades, heavyweight drygoods and woolens.
Trade is quiet at ST. Louis, lighter at New
Orleans, of smaller aggregate volume at
/ Omaha, unchanged at Duluth, quiet and
featureless at San Francisco, while at Phil
adelphia distinct weakness is shown, with a
tendency toward decline in prices in
nearly all staple lines. At Kansas City,
Cincinnati, St. Paul ard Chicago normal
volume of business during holiday week is
maintained. The change in the weather
promises to stimulate the demand for sea-
sonable fabrics. Iron is 25@50c off on
lighter request. Manufacturers of textiles
and metals characterize trade settlements as
slow.
Southern and Western Produce.
Refined sugar is lower. Raws are in free
movement in Louisiana. Coffee and tea
prices are reported to have an upward ten
dency. -.
At Western points live cattle. except for
prime, are weak. Hogs are in decreased de-
mand and are SC lower Farm produce, po-
tatoes and apples. are in good demand and
bring good prices. Wheat has been quieter
week. Available stocks East of the Rocky
Mountains increased last week 1S9, 160
bushels, Exports of wheat and flour, both
coasts OF the United States and Canada. this
week equal 1, ,431, ,263 bushels, against 2, Ill.,
718 bushels last week, and 2, 251. .634 bushels
in the like week in 1889.
Rates for money West of the Alleghenies,
except at San Francisco, where funds are
tighter, are unchanged, but with more ease
manifest and disposition to lend more
freely to regular customers. This is in part
due to the lull in speculative and distrib-
utive lines having decreased the demand
for money. No trouble is anticipated in
making necessary settlements and disburse-
ments on January 1.
The New York Financial Situation.
Heavy receipts of gold within ten days
checked the decline in foreign exchange,
but rates tend downward again, and
further imports of gold are not unlikely.
While New York bankers very generally
prefer not to express an opinion as to con-
templated financial legislation at Washing
ton, it remains true that the general senti-
ment among them is that the fear OF inap-
propriate legislation at the moment is the
chief obstacle to prompt return to a
better state of financial affairs.
Bank clearings at 81 cities for the week
ended December "a are SS59, 235, ,093, de-
crease from this week last year of 1.5 per
cent. New York City's clear1ngs, which
constitute 56.9 per cent OF the grand total.
are less than those for the same period last
year by 1876 per cent, while at So other
cities the gain is nine-tenths of per cent.
Drygoods have been dull in wholesale
lines, while reasonably active at retail.
Prices are not quotably changed, but in the
case of brown and low grade bleached sheet
ings favor buyers.
The New Year Will Bring New Prices.
Numerous price revisious are expected
after the first of the year. The usual clear
ing out sales are now in order. Texas and
Territory woods are strong and active, The
general situation is cheerful. Prices are un-
changed. Cotton is 3-16c lower on increas-
ing pressure of supplies and the late large
crop estimate.
Business failures reported to Bradstreet's
number 500 in the United States this week,
against $40 last week and 237 this week last
wear. Canada had % this week, against 80
last week. The total number of failures in
the United States from January to date is
10. SIS, against II, $50 in like portion OF
1889,
4. G. Dun & Co.'S weekly review says:
Business has progressed as well as could be
expected IN q week UTOkeu UJ Juc SuEiSLmdS
holiday and a great snow-storm. The holiday
trade was remarkably heavy here and at
nearly all other points, which is by no
means evidence that the tightness of the
money market springs from any general
embarrassment of business or industry. The
volume of payments through banks contin-
ues larger, although but about per cent
larger than year ago.
Good Report of Railroad Earnings.
Railroad earnings thus far reported for
December also show gain of about Der
cent over those of the same weeks last year.
Foreign trade is very heavy, in spite of
causes which were expected to insure ma
terlal increase.
Conditions at Eastern cities, other than
Boston, have not been essentially different,
although at Pttsburg Bessemer iron has
sold at SIC %. the lowest price for the year,
and all pig iron is at bottom prices. Manu-
featured iron is in fair demand, and rails
unchanged.
The flint glass trade is quite active, with
fewer hands idle than for months past, and
the window glass trade is fair at points.
Further expectation of Improvement after
January 1 is general, although trade is
quiet in wholesale lines, but FULLY up to last
years marx.
Ground for Encouragement in Iron.
While the situation of the iron and steel
industry shows no improvement, the fact
that the closing weeks of the year are pass
ing without any serious set back gives en-
couragement. There is anxiety as to the
demand which may appear with the new
year, siuce it is generally perceived that
many works must remain idle for time
unless there is decided increase in con-
sumption. But Tor most finished products
the consumption is even now so great that
in any previous year it would have been
considered eminently satisfactory.
The exception is the steel nail business, in
which a crisis and destructive competition
seem imminent a provisional agreement made
during the past week in this city having
been defeated by refusal of an Eastern mill
to sign.
ErCL,ief .Inhn 6 Bell. nf the limited