Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-02
TWO VIEWS OF TRADE
Bradstreet'S and Dun's Mercantile
Agencies Review Business.
EUROPE DRAINING US OF OUR GOLD.
Iron Men More Confident, but No Change
In the Quotations.
CONFLICTING WESTERN CROP REPORTS
ESPECIAL TELEGRAM TO THE pysrAros.,

| improved any; Indian corn has lost head
way owing to dry weather in Eastern Kan
sas and Nebraska, where rain is badly
needed; but rice promises the largest crop
on record, and cotton crop adyices are quite
favorable. Our own crop advices from
Eastern Kansas to-day are in brief: Lead
| ing crops as compared with one year ago:
Potatoes, one.ffth; Indian corn, one-fourth;
wheat, not quite one-halE Corn and oats
are worth twice last years prices at primary
| markets; wheat, fax and tame hay, one
| fourth more, and potatoes three times as
| much. Rain would help corn and potatoes
| and double the bean crop. Weather very
warm; poor prospects tor rain. Prices ad-
vancing."
Bank clearings at 81 cities for the week
ended July 81 are 1892, Az, 541, q gain over
this week last year of 1913 per cent. New
York City's clearings, which constitute %. b
per cent of the grand total. are more than
those for the like period last year by II: z
per cent, while at 80 other cities the gain is
1877 per cent.
COPPER AND COTTON.
Copper, which last week was firm and
lake, is now dull and weaker. The heaviest
consumers appear to have supplied imme-
diate wants. Visible stocks abroad are
about what they we're two years ago, and
nearly AZ, 900 tons less than one year ago.
Raw cotton is off 4 cent, with the bulls in
control and practically no opposition owing
to the absence OF considerable short interest.
Nebraska merchants are not buying as
freely since the change in the local agricul-
tural outlook. The reverse is true in Louisi-
ana, owing to good crop prospects.
Iron and raw wool and anthracite are as
quiet as heretofore, and are still without
prospects of an early change for the better.
Hides are stronger than before, and the price
is higher. Boots aud shoes naturally feel
this, and a good autumn demand has begun
at the higher figures. fmportations of for
eign fabrics have been quite heavy, and
tend to further depress wooden goods. Cot
ton goods stocks at the East are fairly well
held, with q prospect of a further advance
in brown and bleached sheetings and shirt
ings.
BIG EXPORTS OF BREADsTUFFs.
Exports of wheat (and -four as wheat)
both coasts this week are larger, notwith-
standing the falling off on the Atlantic
coast, San Francisco alone having exported
more than 600, 900 bushels. The total is p
272, ,S5S bushels. against ], ,544, 568 bushels
last week and 1,572, ,397 bushels in the last
week of July, 1889. The aggregate ex-
ported July to date is S,757,776 bushels,
against Z, ,279, ,694 bushels during July, 1889,
and s, S12, 81 bushels in July, 1888.
The stock market has been irregular on
the drain o. Sc, 000, 900 gold to Europe and
the disturbed condition Of European mar
kets, owing to the Argentine complications,
political and financial. Sugar Trust has
risen on the prospects of its reorganization
and bull speculation in silver bullion GER
tifcates is feature.
Business failures reported to Brddstreet's
number 131 in the United States this week
against 1856 last week and 213 this week last
year. Canada had % this week against %
last week. The total number of failures in
the United States from January 1 to date is
$500 against $3.50 in like portion of 1889.
WHAT DUN HAS TO SAY.
R. G. Dun & Co.'s weekly review of
trade says: Merchandise imports are very
heavy for four weeks at New York, having
exceeded last years by % per cent, or
So, SOC, 600, and yet the months imports last
year were about S71, 800, 900. But exports
from New York for four weeks have been
81, ,220. 900 less than last year, or nearly
per cent, and the months exports last year
from all parts were but $52, ,25S, ,219 These
facts indicate very heavy excess of im-
have been about Is, 700 bales. less than last
year, and exports OF wheat and -four have OF
late been checked by high prices, but tor
the month show gain.
Prices of commodities tend steadily up
ward with expectation of abundant money.
and have risen half of per cent during the
week, and this movement if prolonged, will
tend to cause shipments of gold instead of
products.
MONEY IN GOOD SUPPLY.
At almost all the interior money markets
the rates have been moderate thus lar and
the supply ample, however, and the COM
plants of slow collections, though a little
more frequent than of late, are compare
lively good. The accounts of trade are
almost uniformly satisfactory. A slight
falling off in some lines at st. Louis, and
rain is badly needed for crops in the region
tributary to Milwaukee, but for the mid
summer season the state of business is better
than usual. Exchanges through all Clear
ing Houses outside of New York show a
gain over last year of II per cent.
q Boston gains little, but reports improving
demand for leading articles of trade; wool
selling more freely and leather active. |
Philadelphia observes some decrease in drug
business; no change in wool; quiet in chem
IS,
in iron. At New Orleans, Savannah and
Memphis business is satisfactory for the
season, and crop prospects excellent. So at
Detroit, st. Louis, Kansas City and Omaha
business is good. But in parts of the West
there is much apprehension, and already
some depression in business because of in
jury 70 crops by drought and extreme heat.
CONFIDENT IRON MEN.
The iron business appears rather more
confident, though no change can be observed
in prices. The wool manu- facture changes
but little. At Philadelphia and here. no
improvement is seen, and Western prices
are held too high for manufacturers. The
boot and shoe business shows no weakness,
aud large number of buyers at Boston are
operating freely at the recent advance in
prices, both leather and hides being firm and
higher in price.
Fears OF injury to wheat and corn are
caused by very numerous reports from the
central Western States, though estimates of
a Weld of 100, 000 00O, 900 bushels of wheat in
the Dakotas and Minnesota appear we'll
supported by detailed railway reports The |
conflicting local accounts and estimates |
helped speculation to sharp advance in |
wheat and corn, but in both reaction has |
since appeared, and wheat closed 3b cents |
lower than a week ago, corn about cents |
higher and oats unchanged. Heavy West |
ern packing causes some weakness in pork |
products, and the fine crop reports from the |
South help to lower cotton a shade. Oil is
little lower and coffee and raw sugar nm
changed.
WATCHING THE MONEY MARKETS.
In general the speculative markets show