Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-19
TRADE FALLING OFF.
Unreasonable Weather ReinfOrces
Early Winter Dullness.
THE COLD SNAP COMES TOO LATE.
A Cheerful Railroad Outlook Makes Con-
fident Stock Market.
GRAIN TRAFFIC BLOCKED AT BUFFALO
ESPECIAL, TELEGRAM TO THE DIsPATCH.1

NEW YORK, Dec. Especial kilograms
to Bradstreet's S renew previous reports Of a
general slackening up of the movement of
| general trade from jobbers and producers,
which appears to include nearly all lines
except those of leading cereals. Mild
weather, which continued until within two
days, added depression to staple lines,
such as clothing, hats, shoes, woolen and
cotton goods of some varieties which they
probably would not otherwise have e1-
perienced. The lower temperature is too
late to stimulate much increase in the de-
mand prior to the new year.
Woolen goods manufacturers report a
light demand A few lines are active, but
at prices in buyers favor. Raw wool is
similarly reported. Staple cottons are quiet
but firm. The output of New England mills
is curtailed as far as possible, so that the
price of raw material does not as yet affect
the prices of goods Agents are holding
new prints. New ginghams are selling only
fairly we'll. Print cloths are in demand at
an advance and values are firm. Stocks of
prints have been steadily decreasing at Fall
River and Providence, but woolen goods
are selling slowly.
A Big Increase of Railroad Profits.
Leading railroad companies report Octo-
Der net earnings aggregating Ill per cent
more than in October, 1890. For ten
months of the current calendar year, net
earnings reported show an increase over
like portion of 1890 of &c per cent. Gross
earnings for October were S.3 per cent,
and for ten months only 3.s per cent larger
than in like portions of 1890. November
and December promise to raise the percent
age of grain.
Anthracite coal has gone off slowly, owing
to mild weather. The increased demand
for pig iron has not attracted so much at
tention as was expected, and no change of
moment is looked for under month or
two.
Increased conservatism is reported from
leading Southern centers, in exclusively
cotton districts, owing to depression due to
low prices and holding of cotton. Payment
of Government sugar bounties has helped
trade in portions of Louisiana.
Mercantile collections, generally on the
Pacific coast and elsewhere more than ex-
pected, have been slower, particularly
South. Money in the South has grown
lighter.
There were 313 failures in the United
States this week, against $50 last week;
370 IN the like week of 1890, and $50 in 1889.
There have been reported II, 935 from Janu-
ary to date. or 1,721 more than in like
period OF 1890.
The Great Wheat Movement
Wheat prices have been barely steady,
with alternating periods of weakness and
declining prices, noticeably on the Pacific
coast, where grain freights are very weak.
Montreal has practically ceased exporting
grain for the winter, and Portland, Me-,
and Halifax are beginning to ship little.
Twelve United States ports exported the
equivalent of 5,495, 900 bushels of wheat
this week, against 6,O3S, 900 bushels last
week, and as compared with 2,171, 900
bushels and 2,S72, 900 bushels respectively
in like weeks of December, 1880, and 1889.
the moderate increase Of domestic avail
able wheat stocks last week is largely due
to the blockade at Buffalo. with resulting
omission of some of the available from the
count.
Exports of rye from United States ports
last week were 597, 900 bushels, against
3O7, 900 bushels the week before, and of oats
sol 900 bushels, as contrasted with 100000
bushels in the preceding week.
The improvement in the speculative share
market has been stimulated by the large de
mand for bonds and the increased activity
in that department. The favorable condi-
tion of railroad operations and the encour-
agins'inancial outlook created decided be-
lief in speculative circles that wider and
higher market is at hand, and though the
trading in stocks is professional, and at
times dull, there have been steady advances
in the Granger and Trunk line shares, with
corresponding influence on the general
list
The New York money market continues
in an undisturbed state of ease. Foreign
exchange had advanced on increased in
quiry for remittances to Europe and the
liquidation of foreign loans, but shows
symptoms of receding again.
Dun g. Co.'s Weekly Size-Up.
R. G. Dun s. Co.'S weekly review of
trade says:
AS the end Of the year approaches general
trade slackens, and there is, perhaps, not
more than the usual disposition to defer
and the holidays. 1t is satisfactory to see
from nearly all points the reports, which
note the inactivity usual at this season, also
observe q prevalent and strong belief that |
the business of the coming season will be
unusually large and profitable. CONNER
cial credits and confidence are IN satisfac- |
tory shape for the transaction of an enorm- |
GUS business early next year.
The iron trade shows greater strength and |
larger sales of pig than for a long time, but |
extraordinary weakness is seen in some |
finished products. A sale of 9, 900, COO pounds |
of lake copper for January delivery at lO11 |
cents is followed by offers at 1O1l cents, but |
lead is unchanged and tin slightly higher.
The following table, compiled by Brad |
streets, gives the clearing house returns for
the week ending December II, 1891, and the |
percentages of increase or decrease, as |
compared with the corresponding week last
year: