Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-29
THE TRADE REPORTS,
Agencies of BradStreet and Dun De-
scribe the Business Outlook
Everywhere.
A LESS ENCOURAGING PROSPECT.
Thanksgiving Holiday and Continued
Stringency of Money Affects the
Market Unfayorably.
A LESS ENCOURAGING PROSPECT.
THE IRON MARKET is MUCH WEAKER.
Grain and Stock Prices Advancing and Winter Drygccds
Becoming More Active.
ESPECIAL TELEGRAM TO THE p1spIr,

NEW YORK, November 2S.-In a major
ity of the cities reporting by wire to Brad
streets this week, the general trade move
ment has been more quiet and of somewhat
smaller volume than a week ago. This is
stated to be due to the continued effects of a
stringent money market, to the intervention
OF Thanksgiving holiday and to prolonged
mild weather. From all quarters dealers
in seasonable goods report that with colder
weather a sensible increase in demand is
confidently expected,
The exception to the rule of restricted dis
tribution at the East appears to be among
jobbers of cotton goods, which are said to be
quite active. Omaha, Chicago and st.
Louis announce enlarged volumes of gen.
eral trade within the week. The reverse is
true at Boston, New York, Philadelphia,
Cincinnati, Memphis and Kansas City.
There is also less activity at St. Paul, Min
neapoIis and Duluth than has been ex-
pected at this season.
POOR IRON MARKET.
Iron is disappointing and weaker. Fears
are entertained that cuts will be made on
some Southern makes. Anthracite coal is
not in satisfactory demand, but prices are
nominally firm. Production is heavy.
Cattle at Kansas City are advancing on
light receipts, but only steady at Omaha
Hogs are in fair supply and firm in p ice at
the former city, but cents lower at Omaha
At San Francisco coal is scarce and high in
price.
The Eastern money stringency has begun
to have an effect there. Some manufacturers
of cotton and woolen goods at Philadelphia,
report that trade has fallen of. Potatoes
and apples are scarce and higher.
There is some further ease in the New
York money market, though discount and
call loan rates remain about as at the close
q week ago. The condition of the New
York banks has improved, and, while out
side commercial paper is not solicited, reg
ular customers of the banks at New York
are more freely cared for. Out-of-town
banks are, in some instances, feeling the
scarcity OF funds more than a week ago, vet
no serious trouble has been reported or is
expected by leading bankers. A restriction
of commercial and industrial credits is
among the probabilities of the near future
as is more normal rate for time money, ap-
proximating to the legal rate in varying To-
calities, owing to an increased demand.
STOCKS ADVANCE.
Share values of the New York Stock Ex-
change are strong and have made extra
ordinary advances this week. The money
market has continued to favor bull specula-
tion, Wall street being able to obtain money
at or below the legal rate. The success of
financial and railroad powers in obtaining
control of certain corporations, and in har-
mn hifharfo Mt oStc rrif
the understanding that an adjustment of
competitive relations throughout the West
is about TO be effected, furnished the basis
for the advance, which has been directly
supported by the weightiest influences in the
market.
Bank clearings at So cities for the week
ended November q are 1898, ,24S, 936, an in
crease over this week last year of less than
! per cent New York City's clearings.
which constitute 60.4 per cent of the grand
total, are less than for the same period last
year by 1.6 per cent, while at 50 other cities
the gain is 81 per cent.
The exports of wheat, and -four as wheat,
from both coasts of the United States and
from Montreal equallei 1,911, ,663 bushels
last week. In the like week last year the
total was l, 70S, 732 bushels, and last week it
was ., 2S3 S71 bushels.
The total shipped abroad from July l to
date is Al AS, 692 bushels, against 42, ,524, 513
bushels in a like portion OF 1889, and IS, III, :
S11 bushels in 1888.
Grain has been active and unsettled in
price this week, with marked reaction in
prices. Wheat has advanced &c, Indian
corn 4c and oats 3Alc, with growing belief
in the bull side OF the market.
Drygoods are in limited demand at the
East, first hands reporting trade quiet. Ex-
port business is light. Prices are generally
firm. Some makes of cottonades have ad-
vanced. Cold weather has depleted retail
stocks and slightly aided the jobbing trade
Special Jobs and holiday specialties are
most active.
Wool is in limited demand at the sea-
board. Large sales in November have re-
duced stocks, and holders are not inclined
to make concessions. Cotton opened strong
on good trade advices and better spot de-
mand, but weakened later on increased
stocks and lower cables
Business failures reported to BrddStreet'S S
number 233 in the United States this week,
against 245 last week, and 265 this week last
year. Canada had Sc this week against 3S
last week. The total number of failures in
the United States rom January 1 to date is
$3.50 against 10. $40 in like portion of 1889.
OUTLOOK NOT IMPROVED.
R. G. Dun & Co. IS weekly review, says:
The past broken week has not improved the
business outlook. The difficulty of obtain
ing commercial loans increases, not here
only but at most other points. Banks and
other leaders, from the largest to the small
est, appear 20 have been induced by recent
events to strengthen themselves. Mer-
chants have grown more cautious about ex-
tending obligations or making purchases
which can be deferred. apprehending that
retail buying may be cut down somewhat BY
reduced ability OF some consumers, and by
the disposition of others to economize in
view of the extensively reported advance in
prices.
Meanwhile speculation has been revivinp
to an unhealthy extent in some directions
on the theory that troubles are over and
things will improve. The money market.
are thus loaded with increased demands fol-
carrying securities and products, at a time
when trade needs more liberal supplies.
MONEY MORE STRINGENT.
At most of the interior markets money
grows more stringent, and the scarcity
begins to affect trade at important centers
though the volume of business is still very
large.
Boston reports extreme frmness and high
rates, per cent even, between banks
Trade is affected and most branches quiet
Cleveland notes an active demand fol
money and a tight market, though collec.
tions are remarkably satisfactory. Al
Detroit the demand is strong at per cent
colder weather helping trade there, and al
Milwaukee, where money is very active