Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-03-08
MARKETS ARE MIXED.
BradStreet Reports That Some Are
Active, While others Are Dull.
IRON AND STEEL ON THE DECLINE.
Dun Finds the Weather Has Improved
Trade in Some Lines.
BUSINESS FAILURES FOR THE WEEK

to BradStreet's report no general improve
ment in the distribution of merchandise
Cold weather and snow have stimulate,
sales of some winter goods, but checked tn
movement in spring staples. Standard col
ton goods have been fairly active, and boot
and shoes and hardware have been in goo
request. Other lines are dull Inerail
carpet makers complain of oVerproductiol
and will restrict the output. Anthracite
coal stocks between mines and tidewater ar
very large.
There is a heavy Southern demand fol
bacon, and cattle and hogs are both in better
demand at the West, the former being 15@2(
cents higher. Lower prices for grain at in
terror and farmers indebtedness are reported
responsible for slow collections. There is a
better interior demand in Louisiana. Coffee
has advanced q of cent per pound and
sugar 1-16@1s cent.
TRADING IN STOCKS.
Professional trading characterizes the
Wall street stock market, and aside from
Reading, which has been freely sold at de-
cline OF 215 points, it has ruled moderately
firm. This is surprising, inasmuch as the
bears have the machinery of the street and
used Reading to depress the list. The
Grangers are firm, despite rate-cutting, and
other favorable features are a reduction in
the Bank of England discount rate to AZ
per cent, and a resumption of per cent
bond purchases by Secretary Window. This
has removed apprehensions of tight money,
Notwithstanding low bank reserves, and
funds are distinctly easier with call loan
rates as low as per cent.
Next to Reading, sugar certificates are
most active. showing net advance Ten
nessee Coal and Iron and Chicago Gas are
both lower. but Pullman, Wheeling pre-
ferred and Ohio Central are all to points
higher. Railway bonds are more active,
Reading taking the lead with lower prices.
WHAT THE BANK CLEARINGs SHOW.
The total bank clearing at 4S cities in
February aggregated 81, 399, ,O45, 331, an in
crease over February last year of 5.4 per
cent. For the two months this year the
total is S9,518, ,752, ,1S2, a gain over two
months o! '89 of 7.9 per cent. Compared
with January this year the February total
shows decline of Is per cent ct al, and
while January's gain over year ago is ~
per cent ct al, February's gain over Feb
ruary, 'S9, is only 5.4 per cent.
Exports of wheat (and -four as wheaO
both coasts this week wired to BradStreet's
are among the heaviest weeks shipments
this year, aggregating 2,264, 500 bushels,
against 2,321, ,012 bushels last week and
905, 510 bushels in the first week of March,
1SS9 The total exported from july l to
date is 72, 415, 203 bushels, as compared with
63, ,660, ,606 bushels in like share of 1889.
The report to BrodStreetS of available
stocks of wheateast of the Rocky Mountains.
United States and Canada, March 1, shows
a total of A, 362. 600 bushels, a decrease OF
9, So, 900 since January 1 and 321, 900 bush
els less than was reported March 1, 1889.
The decrease in available stocks during
January and February last year was $685.
coo bushels, and in the like portion OF 1883
Ssir 4, ,O55, 600 bushels. The total of wheat
stocks March l, added to Beerbohm's aggre-
gate of wheat in Europe and afioat therefor
on that date, is 95. S41, 900 bushels against
1O9, 724, 900 bushels year ago.
IRON AND STEEL WEAKER.
Iron and steel markets are weaker than
for some time past. This refers to pig and
bar iron, billets, blooms and slabs. Prices
for merchant steel and hardware generally
are firm. Bessemer pig is weak and S3
below highest prices touched within a wear.
Copper is weak but fairly steady. There is
a widespread impression among consumers
that iron and steel will continue to decline.
Drygoods with jobbers are fairly active |
at Boston and New York. Weather cond1- |
tions have not been altogether favorable. |
Southern buyers are most numerous. and the |
Western retail demand is not as active as |
Prices are irregular. Print |
cloths are 1-16c off on larger stocks Colored |
cottons rule in buyers favor, and iobbers |
have moved of-styles of prints at price con-
cessions. Raw wool is dull with prices in |
BUYERS favor on a hand-to-mouth manu-
demand. Raw cotton is l-I6c
higher on a good demand and light crop
movement.
Business failures reported to BradStreet's
number 215 in the United States this week.
against 100 last week and 221 this week last |
year. Canada had 4S this week against "a
ast week. The total number of failures in
he United States since January 1, is 2,75S,
against 2, ,948 in 1889.
DUN'S REVIEW OF TRADE.
R. G. Dun & Co.'S weekly review of
rade says the state of trade has not materi-
lily altered during the past week, though
he change of weather has produced much
improvement in some lines and
n others trade is rather less satisfactory than
week ago.
The monetary situation is much more SAT-
sfaetory, Notwithstanding the fact that the
ash actually held bv the Treasury is S3-
0O, 900 more than last week, for rates on call
lere have declined from 5 to 81 per cent.
nd foreign exchange has risen from 81 S5K
S4S6s. The interior money markets are
steady, but on the whole rather
more easy. AT Boston this still exists, and
commercial paper commands about 6 per
ent At Philadelphia the situation is SUBJ
tantially the same, but there appears to be
nore stringency. Money is unchanged at
lineage, fairly active at to at st. Louis
nd PIttsburg, rather abundant, though the
emand Is large, at Cleveland, easy at st.
'aul and Omaha, in good demand at Detroit |
q, and steady at that rate at Milwaukee,
he demand at Kansas City being only mod
rate.
DECREASE IN CIRCULATION,
The decrease in actual circulation outside
be treasury In the month of February was
10, 276, 1853, and this with the further ab-
1rptiOn this month by the treasury, indi-
ates less active commercial demand.
The aspect of foreign trade does not
hange, as exports at New York still ex-
eed those OF last year a little. while the
nports nave not OF late shown an increase
he volume OF domestic trade appears we'll
with general encouragement ]
oted at Boston and st. Paul, a satisfactory ,
istribution in all seasonable lines At ST Q
ouis, a GOOD jobbing trade at Omaha and
hiding operations more than double those :
last year, though storms check retail |,
ade; quiet at Milwaukee and Kansas Civ
I'd at Chicago improvement over last wear in
ain and meats, with dry goods trade about
ual to last years and clothing trade only
lr in volume.
IMPROVEMENT IN CLOTHING.
Boston also notes improvement in cloth
g on Western orders, liberal sales of cot
rs and fair demand for leather. with i'm
ovement in boots and shoes and good trade {
L. |