Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-11
TRADE ISPICKING UP.
Cool Weather Improving Business in
the Big Western Cities.
IRON ADVANCES BUT COAL is DULL
Money Easy at New York, Though Stocks
Are Somewhat Depressed.
STATISTICS OF IMPORTS AND EXPORTS
rsprcIAI rrLEenAM 70 THE pIsrArcH. j

STATISTICS OF IMPORTS AND EXPORTS
tspEc1AL TELEGRAM TO THE D1sPATcH.ll
NEW YORK, January 10.-Special tele-
grams to Bradstreet's note the temporary ap-
peara nee of colder weather, followed at i'm
portanT western cities, particularly Chicago,
St. Paul, Minneapolis Omaha, Kansas
City and st. Louis, by moderately i'm
pro we'd distribution OF clothing, boots and
shoes and grocery staples. The gain is not
large, being met by lower temperature and
hampered by the unfavorable coAdition of
wagon roads at the interior, SoNth and
West Leather and lumber are quilt, and
cattle and hogs, with freer receipts, tend to
weakness at Western centers. Mercant lie
collections generally are slow and the il +
mediate outlook Is not for material improveN
ment
At the West, Indian corn is moving with
freedom; but South, farm products are
shipped with less freedom, notably cotton.
| Hog products have been more active, with
firm or steady prices, and in some instances
slight advances.
STOCK MARKET DEPRESSED.
The New York stock market was de-
pressed by tight money last week, and this
week by the trouble about Reading in
comes. Charges have been made that the
executive of the Reading Company recently
asserted that a dividend had been earned
and would be declared on the income bonds.
The management declares the dividend has
not been earned and will not be paid. An
election of Reading officials takes place
Monday, and the excitement attending the
situation is intensified by an attempt to
change the official head of the Reading Com
pany.
The condition of the coal trade, aided by
the Reading trouble, has affected the gen.
eral share market, and depression has re-
suited. Sugar Trust has dropped to 50X,
the lowest on record, but has reacted.
Money is easy at to per cent on call.
Sterling exchange continues to favor the
importation of gold, but the Bank of En-
gland prevents it by raising it's rate of dis
count, evidently fearing the results of the
imitation in Argentine, and possibly the
outcome of the industrial investment craze
in England.
ADVANCES IN IRON.
Reports to Bradstreet's of gross earnings
of 90 railroad companies for 1889 aggregate
$327, 800, 853, an increase over 1888 of per
cent. Nominal advances are reported in
prices of steel blooms, billets and slabs, in
barbed wire and in several brands of SOUTH
ern pig iron-in the latter instance with
view to check speculative demand. Steel
rails are expected to advance 81 per ton be-
fore spring. Mills have already contracted |
for 900 tons of rails for 1890 delivery.
Copper is up Il cent to 15 cents and may 60 |
higher
The demand for -four and wheat has been |
dull, both at home and abroad, cash No. 2 |
red closing at IS cents over the previous |
week. Indian corn is more active, specula-
lively, with the close showing an advance of |
e to a cent on nearby options. Oats
followed corn with rather. less activity.
Stocks of wheat in the United States, both
coasts, and Canadas, ,Iout Of farmers hands, |
with like stock in Australia, in Europe and
ahoat from all countries for Europe, rs
cabled to BradStreet'S, aggregate 115, 800, zoo
bushels on January 1, 1890, against 133, ,800,-
900 bushels on January 1, 1889, decline of /
$4,000, 900 bushels, 1871 per cent.
BREADsT1FFs SENT ABROAD.
Exports of wheat (and -four as wheat), |
from both coasts, United States and Canada,
this week aggregate 2.317, ,221 bushels
against 1898, ,054 bushels last week and |
1862, ,SS5 bushels IN the like week of 1882
The total wheat (and -four as wheat) ex.
ported July 1, 1889. to date. is 56, ,662, ,531
bushels against 80, ,982, 900 bushels in like
portion of 1S8S-S9.
Notwithstanding free receipts of raw
sugar, refners have enjoyed good demand1
which, with firm cables. is responsible foi
an advance of 6-16 of a cent for raw and "a
OF a cent for refined sugars. Stocks
Of refined in the United States are
reported to be 10000 tons less than
they were a year ago. There has been more
activity in coffee, with prices q of a cent
higher.
Spring trade in cotton goods has opened
encouragingly, good package trade being
reported. Print cloths are only moderately
active. Woolen goods are quiet. DeIiv-
cries by agents of spring goods on orders are
large. Raw wool is steady, but in moderate
demand. Prices are firm. Light crop
movement and improved speculative de-
mand have advanced cotton prices 1sc to
5-16c.
FAILURES OF THE WEEK.
Failures reported to BradStreet's number
354 in the United States this week, against
80 last week and 337 this week last year.
Canada had 46 this week against % last
week. The total of failures in the United
States, from January to date, is 663 against
623 in 1889.
R. G. Dun & Co. IS weekly review of trade
saws: An easier money market and colder
weather have helped business some. The
large payments by the Treasury have much
relieved the money market, the excess Of
over receipts during the past
week having been no less than So, 200, 600.
But the remarkable movement in foreign
exchange, which has risen from 81 "a to
81 Sc during q single week, tends strongly
to increase the impression that the advance
in rate by the Bank OF England to per
cent and the refusal of gold bullion for ex-
port by that bank have started a considera-
Bile realizing on American securities by
foreign holders.
DEMANDS FROM EUROPE.
The possibility of gold exports at no dis
tant day is therefore discussed. Imports
and exports have botA fallen of much since
January 1, and while either change may be ,
but temporary, there are some facts which ;
point to different conclusion. Cotton ex-
ports have been remarkably heavy for three
months and are now falling below last years,
4 change which is natural and must be ex-
pected to continue. The movement OF wheat !
has not been large in December, with prices
low, and can hardly be ex- !
pected to increase much with higher prices. {
In general, the foreign demand for Ameri-
IAN products must have been to some extent |
for the present, by the unprece- !
1ented exports of the past quarter. I
Boston observes more life since the arrival 5
,f cooler weather. but sales of boots and |
shoes are curtailed because winter supplies 5
nave not been sold, and sales OF wool were 4
)ut 2, AZ, 900 pounds, feeces being firm, but /