Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-04-19
A SPECULATIVE ERA
Has Struck the Markets of the Coun-
try and Advanced Prices, but
IRON AND STEEL ARE NOT In 1T.
Southern Products Still Depress Pittsburg's
Manufactures.
pan UEATuCp IEEENTC C0NE TTEEC
IRON AND STEEL ARE NOT IN 1T.
BAD WEATHER AFFECTS SOME LINES

ESPECIAL TELkGhAM 10 THk DlsPATCH.l
NEW YORK, April 1S-Special reports
to BradStreet'S show only moderate move
ment of general merchandise at Philadel-
phia, New York, Boston and New Orleans.
At st. Louis cold, stormy weather, with re-
sulting heavy roadways in the tributary re-
gion, have retarded general trade, and even
at Chicago adverse weather influences have
had their effect on several lines, notably
millinery and clothing. There have been
slight gains at Memphis, ST. Paul, Omaha
and San Francisco, but at Cincinnati and
Kansas City the situation remains practi-
cally unchanged.
Snow blockades on the Pacific roads in
February decreased net earnings in that
group, so that the gain in net on log roads
during that month was only per cent, as
against Is per cent in January over January
last year. For the first time in some months
the coal-road group showed a gain in net
over the preceding year.
IRON STILL DEPRESSED.
There is no change in the generally un-
favorable position of the iron and steel mar
kets, Judged from the point OF view of the
makers. Several large transactions are re-
ported in Southern mig iron at very low
figures, and several contracts recently placed
have been Cancelled. Production continues
TO increase in the face of the situation.
Steel rails are 90 cents lower per ton and
nails very unsettled as to prices.
Speculation in wheat within week has
reached unexampled proportions, transac-
tions at New York alone aggregating 1885,,
000, 600 bushels. This was caused primarily
by the Government report that winter wheat
in the ground was far below the average in
condition on April 1, backed by continued
bad weather and report that India's pew
crop will fall far below expectations
Secondarily, the stimulus came from the
larger bull operators at New York and
Chicago, who put their shoulders under the
market with good effect Prices West ad-
vanced 10c ,and leave off 6G7c up; at New
York the gain is 304c. Corn was affected
was oats. the former gaining L913c and
the latter 5s92c per bushel.
EFFECT OF A CORNER.
The corner in pork at Chicago April u
advanced prices 81 per barrel, OF which one
half has been lost. Lard is &c higher per
pound, and cut meats &c up. Demand is
fairly active. Drygoods are in better dis
tributlon at retail, and there is some slight
gain in recorder demand. Price concessions
are still feature.
r. q. Dun & Co. say that season of ex-
traOrdinary speculation has set in. Grain,
pork products, cotton oil and sugar have
advanced, the latter in spite of the proposal
to remove the entire duty, and spruce
lumber also, In spite of the rapidly increas-
ing interruption OF building by our strikes.
The general average OF prices for commodi-
ties has advanced one-eighth of l per cent
in a week, and IL per cent in three weeks.
Stocks have also been stronger and reports
OF trade, which are Influenced rather by
prices at which goods are sold than by the
volume of business transacted, are uni
tormly cheerful. At the same time there is
continued evidence of an actual increase
over last year in the volume of business
transacted.
ONE EFFECT OF STRIKES.
Wool has been frmer at Boston, without
change in price, and very dull and inactive
at New York and Philadelphia. In the
drygoods market no improvement is seen.
Cotton manufacture does not thrive the bet
ter for the advance in the material, with
goods unchanged in price, and print cloths
only 80 cents for Gas. The boot and shoe in
dustry is clearly thriving, and leather and
hides are both firmer and in more active de-
mand.
The eight hour strikes in many cities
have already arrested all building opera
tions, and are expected to extend, so that
the market TOR glass is already affected un-
tavorably, and also the demand for struct-
ural iron. The iron busnes shows no i'm
provement. In steel rails large orders are
pending, and it is thought they can be
placed at S33. Bar iron is dull and de-
pressed.
Substantially all the reports from
other cities give an encouraging rec
ord of the state of business.
FAVORABLE REPORTS.
At Boston improvement continues; retail
drvgoods trade is large and causes better
jo5bing trade, and domestic hides are high
er. At Philadelphia there is especial ac-
tivity in drugs and chemicals, and the past
week was the best in a long time in gro
ceries Chicago reports the usual great in
crease in the movement Of grain and dressed
beet, lake shipments of grain being double
last years, and drygoods sales fully equal
to last years, while clothing falls behind,
but is fairly satisfactory. Collections there
are generally good. ST. Louis also notes
improvement, fairly prompt collections and
expectations of a good spring trade. AT
nearly ali other Western points similar
favorable reports are made.
1t is especially noteworthy that there is
no serious monetary pressure anywhere.
Money is quiet and easy at Boston, easier at
Philadelphia, and steady with plentiful
supplies at Chicago, St. Louis, Milwaukee
and Omaha, Cleveland and Detroit only re-
porting some closeness.
The business failures throughout the
country during the past seven DAYS number
214, as compared with 20e last week.