Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-03-29
TOO MUCH DILUTED.
Storms and Floods Throughout the
South and West Have
A BAD INFLUENCE ON BUSINESS.
Steel Rails Rally Slightly, but Pig Iron is
Dull.
MONEY MARKETS STEADY AND EASY

ESPECIAL TELEGRAM TO THE DIsPArcHI
NEW YORK, March 28.-Another rise of
the Ohio and Mississippi rivers continues to
keep large tracts of country under water
and thus to obstruct trade, The disastrous
storm of Thursday night, notably at Louis
vile and elsewhere in Central Western
States, can hardly fail to intensity unfayor-
able conditions already existing.
Special kilograms to Bradstreet's contain
but few indications OF the extraordinarily
large volume of trade throughout the coun-
try reported in some quarters. The move
ment OF general merchandise, on the whole,
is not larger than a year ago, although ship
ments of grain are heavier. In Louisiana
cotton will suffer some from the overfows,
but sugar aud rice will. not be affected much.
Omaha and Chicago prove exceptions, with
an increased distribution compared with last
year. There is also an improvement in gem
eral lines, notably building materials, at
Kansas City. The New England cotton
manufacturing industry is less active and
profits are not as large as they have been.
Anthracite coal is duller and its production
will be restricted during April,
WALL STREET sTAGNANT.
Speculation in railway shares in Wall
street has been even more stagnant than
last week, the total of the weeks transac-
tions being less than one-half of what has
been regarded as a good days business.
Professional operators are in undisturbed
possession of the street. Money is In ample
supply at moderate rates, though it is
thought that April settlements may result
in more frmness. Bonds are dull in SYM
pathy with stocks. The price fluctuations
of railway securities, under the above con-
dltions, are practically meaningless. Mer-
camille collections are almost uniformly
slow and difficult to make.
Breadstuffs are lower, as a rule, wheat
and corn notably so, from &c to &c each.
Exports Of wheat continue to decline on the
Pacific coast. Total shipments (and offour
as wheat), from both coasts for this week
amount to 8, 2,401, ,1j6 bushels, against 1, $780,
800 bushels last week. In the week a year
ago they were 1,741, ,944 bushels The total
from July to date is 1888, 10 bushels,
against 81 ,922, $50 bushels in like share of
18SS-90. The decrease of available stocks
of wheat east of the Rockies was 1,031 600
bushels last week, against 100000 bushels
in the preceding week.
PIG IRON SLOW.
There is no improvement in pig iron, and
only slightly better demand for steel rails.
Consumers are still waiting to learn whether
prices have touched bottom. The number of
men involved in strikes and lockouts in the
United States this year is slightly less than
in the like quarter of 1889, but the number
of industrial disturbances thus far this wear
is greater than from January to April 1,
1889. The years record must depend of
course largely upon the results of the de-
mands for eight hours to constitute a days
work, to take effect May 1. In letters to
BradStreet's the reported widespread dis
stress among American farmers is doubted
by Edward Atkinson, while Senator Vest
takes an opposite view, and enumerates his
reasons for so doing.
Drygoods are fairly active with jobbers,
drives in cotton dress goods being feature.
Agents report trade moderate. Print cloths,
prints and low-grade bleached and brown
cottons are weak. the decline in prints being
nearly one-eighth of q cent, owing to larger
stocks. The wooden goods demand, especial
ly for mems wear goods, is rather quiet,
while prices are steady. Low and medium
grades of wool are frmer on better request,
and fine wools show the firmness but not the
better demand. The manufacturing out
look is not encouraging.
Business failures reported to BTadstreet's
number 189 in the United States this week,
against 200 last week and 161 this week last
year. Canada had 25 this week, against 81
last week The total number of failures in
the United States since January is 1856,
against 8, 546 in 1889.
DUN is NOT sANGUINE.
R. g. Dun & Cos. weekly review says: At
Cleveland, Detroit, Chicago, Milwaukee and
Omaha, some improvement in the volume of
business was seen and at Chicago especially the
receipts of corn have averaged half million
bushels daily. and dressed beef receipts we're
3.5o0,OO0 pounds against $4,000 for the same
week last year, with dealings in clothing
heavier but in dry goods and boots and shoes,
somewhat lighter. At Kansas City there was
no marked Improvements; at st. Louis the vol
ume of trade is fair; at Louisville all commu-
nication has been cut off by a tornado, which
has caused great loss and at Pittsburg both
the iron and glass trades are depressed, with
no change in coal Philadelphia notes some
rally in iron. stagnation and concessions in
wool, many looms idle in textile manufactures
generally, and fair trade in other branches.
At Boston better weather has brought better
trade.
The money markets of the interior are fairly
supplied. easier at Boston and Philadelphia
without much pressure TO place commercial
paper; steady at Chicago, a little closer at
Cleveland and rather embarrassed at Salt Lake
estate speculation, but at all other points re-
porting sufficiently supplied for the present
demand, which is generally moderate. At New
York 81 per cent has been the ruling rate on
CALL and Treasury disbursements exceeding by
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