Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-03-15

trade, as reported in special kilograms tt
Brodstreet's shows that the week has beer
marked by noticeable check in the move
ment of general merchandise throughout the
Lower Mississippi Valley. owing to flood:
and fears of further overfows. This i:
conspicuous in Louisiana. Unfavorable
weather and high water have had an effect
also throughout the Ohio river valley.
| Trade at San Francisco continues depressed
by the "all winters Storm" but the outlook
| is for an improvement. Wheat is moving
rapidly in California and is going abroad in
| large consignments weekly.
An improved merchandise movement is
reported from Boston, Pittsburg, Kansas
City, Chic ago and Omaha, stimulated in
part by mild weather, and most conspicuous
in groceries, clothing, boots and shoes,
drugs and hardware. Hogs and cattle are
in better demand and prices tend upward.
BULLS BECOMING BRAvER.
The tone of speculation in Wall street
has been rather more bullish, in spite OF
low bank reserves and the Western railway
rate war. Liberal purchases of bonds by
the Treasury, the reduction to per cent OF
the Bank of England discount rate, lower
foreign exchange, the purchase by the Chi
cago, Burlington and Quincy Railroad
Company of the rate-disturbing Chicago.
Burlington and Northern Railway, and
continued improvement in railway earnings
generally have combined to favor an ad-
vance in share prices. Railway bon.ls are
more active and higher. The February
gross earnings of 1876 railroad companies re-
fal e., cfr %
with total mileage of II, 1856, against $25,-
837, 1875 and mileage OF 70, ,5S4 in February
last year, gain in earnings of 12.1 per cent
and in mileage of "a per cent. For two
months the total earnings aggregates $780,
020, 679, gain over last year OF 1872 per
cent.
HEAVY WHEAT EXPORTS.
Reports to Bradstreet's of available stocks
of grain east of the Rocky Mountains,
United States and Canada show uniform
decreases last week. The decrease of only
SIT ,359 bushels of wheat was surprisingly
small. Increased stocks at Minneapolis,
Duluth, Manitoba and Northwestern On
tario points explain why the decrease was
not l, 500, 900 bushels,
Exports of wheat (and -four as wheat)
this week, both coasts, the largest for
months, equal 3,067, ,030 bushels, against
2,4S1, 1863 bushels last week and 1,259, $50
bushels the first week of March, 1885, Since
July last the total exports OF wheat and
flour have equaled 5,422, 233 bushels, as
compared with 81, 900, ,456 bushels in like
portion of 1SSS-S9. Wheat Frices, after de-
clining on the Government report of 1885,
600. 600 bushels in farmers hands March l.
advanced on foreign takings and reported
damage to winter-sown wheat, closing la
115 cent up on the week. BrddStreet'S re-
ports as to stocks of wheat in farmers hands
March point to a total OF about 136, 600, 900
bushels.
IRON AND STEEL WEAK.
There is no renewed strength in iron and
steel yet. Southern pig is off S1@1 so per
ton Northern makers, while pressing pro-
duction profess confidence in holding up
quotations. OF this consumers are doubtful.
Steel rails are dull and easier with quota
tions off nominally SOC Fer ton.
Drygoods are iairly active at New York
and Boston, but at the former the demand
has not equaled expectations except from
the South. Agents report reassorting de-
mand moderate. Prices are generally we'll
held except for colored cottons, which rule
in buyers favor. Foreign goods are slow of
sale at New York and the wholesale clothing
trade is quiet. Raw wool is in better de-
grades are active. Cotton is 1-16@Lc
higher in all markets on generally good de-
mand, small stocks and light crop move
ment.
SENT ACROSS THE SEA.
Petroleum exports (oficial report), eight
months, were 461, 059, 433 gallons, valued
at S35, ,435, ,0S6, against 409, ,434, 749 gallons,
valued at S33, AL. .979, in like period Of
1889. Exports OF cotton for six months of the
crop year aggregate 4.077 ,266 bales, valued at
S203, 060, ,502, a gain OF 16 per cent in quan-
tity and 1875 per cent in value over last
year. Breadstuffs exports for eight months
aggregate S94, ,S47 ,57S, an increase over last
year OF 10 per cent.
Business failures reported to BrddStreet's
number 209 in the United States this week
against 215 last week and 1876 this week last
year. Canada had Al this week against 48
last week. The total number of failures in
the United States siuce January 1 is 1857
against 8, 143 in 1889.
BUSINESS FRIGHTENING.
R. G. Dun & Co. weekly review saws:
The money market has been relieved by
Treasury disbursements, by another reduc-
tion in rate by the Bank OF England. and by
a fall of three-Quarters of a cent in the rate
OF sterling exchange. The volume of busi-
ness continues extraordinarily large, at
New York clearings exceeding last years
by 5 per cent, at Boston by per cent, at
Philadelphia by 16 per cent, at Chicago by
II per cent, and at all other points by Is per
cent. The increase in railroad earnings for
February was about 1215 per cent.
The weekly output of iron furnaces in
blast March 1 was 1SO,991 tons, against
ia, ,O38 January 1. and 149, ,775 year ago.
To MANY, this further increase of over per
cen: for the month will seem surprising, but |
it was announced month ago that several |
large furnaces were about to 60 into blast.
IRON DROPS LITTLE.
With production exceeding that of a |
year ago more than 20 per cent, and already |
at the rate of 8, 400, 900 tons in early, the |
tone of the market has been weaker and |
prices have again declined. A reduction of |
81 80 in the price of Birmingham iron, so |
that it is now offered in Eastern markets so |
cents below similar iron from Pennsylyanis, |
com pels sellers to make concessions, and |
causes nervous and disappointed feeling. |
Rails are quoted so cents lower, and one lot |
is said to be for sale at S34. The demand |
for bar iron is better, but on the whole there |
is as yet lack of evidence that the country
can consume at the rate it is now producing
pig iron, and lower prices are apprehended.
There is no setback as yet in the cotton
although raw cotton has ad
vanced sixteenth, exports being almost up
to last years tor the week, and for six
months ending with February, 2,O10, ,000,-
900. More sales are noted of rubber goods.
and the demand for building materials of
all sorts continues large with prices tending
upward.
VOLUME OF TRADE INCREASING.
Reports from other cities indicate some
i'm provement in the volume of trade where
change is noticed. At Chicago receipts of