Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-07-19
MIDSUMMER TRADE
Quite Active and Strong, Especially
in the West and South.
RAILROAD EARNINGS INCREASED.
Drygoods Appreciably Affected by the Ex-
treme Warm Weather.
BUSINESS FAILURES FOB THE WEEK

ESPECIAL TELEGRAM TO THE DIsPATcH.1
NEW YORK, July 18.-Special kilograms
to Bradstreet's point out that the volume OF
general trade is of large proportions, though
smaller than in recent weeks, with the DIS
tributive movement fairly active only. San
Francisco, New Orleans and Chicago pre-
sent the most marked exceptions, with busi-
ness quite active and improving in nearly
all leading lines. On the Pacific coast
fresh and canned fruits and lumber are
higher In price, while salmon packers are
circulating the usual "short-pack" reports.
Country orders for staples are increasing
rapidly at New Orleans, where the crop out
look has marked influence. The Louisi-
ana sugar crop is progressing very we'll and
in many parishes the stand is finer than has
been the case at this date in many years.
Rice, though little late, is doing we'll, and
the stand is excellent. The extreme heat
this week has had less effect in checking the
movement of goods than had been expected.
Through Nebraska the drouth promises to
be serious for the corn crop unless it rains
soon.
A cREDITABLE INCREASE.
Net railroad earnings for May show the
effect of the heavy traffic handled that
month in ofsetting losses from rate cutting
and large expenditures for permanent i'm
provements. Both the ratio and amount of
gain compare we'll with this and preceding
months in this and other years. The total
earnings of 105 railroads for May aggregate
SIG, 062. 499, gain over last year OF 1915,
ana Tor the first five months of the year 104
roads report net earnings OF $68, 095, ,103, an
increase over last year of 1884, which in
turn exceeded 1888 by 1o.7 per cent.
Bank clearings at 81 cities for the week
ending July II are 81 ,127, Al, ,127, a gain
over this week last year OF 81 per cent.
New York city's clearings, which constitute
59.2 per cent OF the grand total, are less
81 per cent, while at 30 other cities the
gain is 10 per cent.
Stock speculation at New York is stag
nant, with firm undertone, although the
continuation of gold exports creates some
uneasiness. Money has been frmer under
increased demands from the agricultural
regions and somewhat restricted collections
at various points. The damage by fire to
the plant OF the Western Union Telegraph
Company at New York to-day not only
interlered with trade at that city, but seri-
ously affected general business.
IRON FIRM AT GOOD PRICES.
Nails and barbed wire have been in better
demand at the West at slightly higher rates,
and Philadelphia reports muck bars frmer
and higher in price. There is no gain or
change in pig iron or steel rails. Copper
gains in strength. Lake ingot is now firm
at l7c, and casting brands at 15c. Anthra-
cite coal is moving less satisfactory than has
been reported, and it is not believed that the
late advance is being obtained. e.
Wheat has remained quiet and firm and
fairly steady in price during the week. Ex-
ports (wheat and four continue heavy,
amunting to 1896, 62O bushels, against l.
73S 502 bushels last week and 1,460. .2G2
bushels in the Ike week OF 1889. Exports
of wheat for three weeks of July equal f.
$40, $50 bushels, against 4,321 ,967 bushels in
like portion of 1889, and 4,257, 900 bushels
OF 1888, while the price now is 10 cents per
bushel higher than one year ago and 8 cents
higher than two years ago.
Warm weather has restricted business in
dry goods, but demand as whole is up to
the average, and the call for cotton dress
goods from jobbers is even more active than
usual. Prices are very steady. Print
cloths are dull and unchanged. Wool dress
goods are inactive and movement on orders,
while mems wear goods are in only fair de-
mand. Wool is in light demand. Cotton
is more active and 3-16c higher on tbe ad-
vance abroad and uneasiness regarding sup
plies aud reports that the growing crop in
Georgia and Texas needs rain.
INCREASE OF FAILURES IN THE WEEK.
Business failures reported to Bradstreet's
number 181 in the United States this week,
against 134 last week and 40 this week last
year. Canada had 21 this week, against 80
last week. The total number of failures in
the Uuited States January l to date is 1888,
against 6,425 like portion OF 1885,
In reviewing the commercial field for the
past week, R. G. Dun's weekly review SAYS
that the silver bill has been passed and is
signed by the President, but has had
scarcely any effect on the market as-yet, ex-
cepting the advance in bar silver to 50.31d,
followed by a decline to BOD. No change
appears in the money markets, and foreign
exchange remains steady at a point which
admits exports of gold. engagements for
to-day being $500 1000 for Germany. The
Bank Of England lost $780,
900 during the week, and the
later advdices from South America
are less encouraging. The industrial out
LOOK is not Improved Dy OelayS IN congress,
nor by drouth in some Western States, " hich
seems likely to cut down the yield OF wheat,
but the volume of business still continues
very large for the season, and the prevailing
tone in most every department OF trade is
confident and hopeful.
GENERAL MERCHANDISE. MOVEMENT.
Western hides are higher, and there is a
good retail trade in summer goods. though
wholesale trade is quiet Cotton goods are
strong, but wool favors buyers. The Chi
cago Board Of Trade statistics con-
tinue to show great increase over
last year in the movement of all grain
and -four, and in meats, the increase in
dressed beef being threefold, and in lard,
cheese and butter large, with considerable
gain in live stock, wool and hides. Boot
and shoe sales are little slack, but in dry
goods and clothing last years sales are sur
passed and payments are good.
Cleveland notes the largest trade since
last year, though seasonably quiet at pres
ent, and substantially the same is reported
from Detroit and St. Paul. Minneapolis
increases its output OF -four above 100, 900
barrels and reports strong lu uber market.
Trade is good at Omaha and Denver, but
dull aud inactive at jacksonville. The live
l.