Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-22
TRADES PICKING UP.
1t Is Helped by the Good Effect of the
Weather on the Crops.
INCREASING REQUEST FOR IRON.
The Nervous State Of the Cereal Market
After the Furry.
BRADSTREETS AND R. G. DUN'S REVIEW
ESPECIAL TELEGRAM TO TUE DISPATCH.

20 BrddStreet'S indicate a gradual improve
ment in the condition of general trade, par
ticularly at the West, over the moderate
gains shown for the past two weeks. Warm,
dry weather has helped the corn crop, and
rice, sugar and even cotton crops are in
good condition. There is an improved re.
quest for leather, boots and shoes and
clothing.
Receipts of wheat at Northwestern
markets, as well as at New Orleans, are re-
ported blockading railway yards. The de-
mand for millinery, lumber, hides and wool
is not increased perceptibly, except for the
last named in few instances. Raw sugar
is 1-16c higher. Tobacco is in moderate
sale, and petroleum is lower. Manufacturers
are buying rubber quite freely, notwith-
standing high prices.
Hog products are firm on light receipts
of hogs, and wheat -four is 5O@75c higher
per barrel, with fair export inquiry The
Alaskan salmon pack is good, but Columbia
River and British Columbia packs will be
small
FRUIT AND CRUDE IRON.
California fruit is very low, but wheat is
active there, with European export freight
rates only high. Improved request for
crude iron continues. Prices are no frmer.
The restriction of the output of anthracite
coal finally begins to restrict, but prices are
unchanged.
Business failures in the United States
number 1S1, against 213 last week, and 100
this week last wear. The total from January
to date is 1923, against 6,663 last year.
June net railroad earnings are among the
best OF the year and compare especially
favorahly with the preceding months show
ing. The tendency toward an increase is
more pronounced than for some months.
Gains by groups are many and heavy. The
Pacific railroads alone show falling off in
net in June from year ago. Net earnings
ITO railroads for June aggregate S14, 107 ,508,
gain Of 1l.6 per cent on last wear, when
June gained 10 per cent net over 1889 June
gross this year gains only per cent over
last June. For the six months the net
earnings of 129 railroads aggregate S97, ,113,-
55l, a gain Of 40 per cent on last wear,
which in turn gained 19 per cent over 1889
THE WEEKS BANK CLEARINGs.
Bank clearings at 58 cities for the week
ended August 20 amount to 81, ,003, ,S3S, ,021, a
decrease for the like week last wear of 1O.1
per cent At 81 cities New York's total
excluded, decrease of 4.6 per cent is
shown. Decreases were: At New York, |
S92 993, 900: at Boston, S14, ,4S0 600: at Phila-
delphia, Sl3, 1904 900, and at Chicago, So, 249,-
0O0 as compared with the week a wear ago. |
Speculation in railway shares is active |
and higher and continues to respond to the |
influence of good crops and the prospective
exports. Prices of granger shares show ad-
.vsnceS of from l to points, with similar
demonstrations in the trunk lines and other
rr1-or l,a oor,+ hos, lal
creased participation from the West and the
outside public, although Europe is some
what irregular in its dealings in the New
\ ork market.
Rates for money at New York are slightly
frmer on increased speculative demand, but
The apprehensive feeling of a fortnight ago
has materially SubSided. Foreign exchange
continues steady, the offerings of ''spot"
commercial drafts being insufficient to sun
ply the demand, which was augmented by
foreign selling Of securities in the market.
A DECLINE is EXPECTED.
This movement is considered temporary
and decline in exchange to the gold i'm
porting point is expected later on The
Western demand for money is sharper this
week
Jobbers in autumn drygoods report a
further improvement in the demand from
all points, and the fall trade is now in full
swing. Dress goods of all kinds are in
active demand and movement The spot
demand from agents is slow, but orders by
mail are Of good volume, particularly from
the West. Print cloths are dull and
weaker, 1-16 cent of. Other cottons are
Woolens are rather slow of
sale. Raw cotton is of 1-16 cent a pound.
The excited market for wheat and rye,
caused by the prohibition of the export of
the latter cereal from Russia, continued for
several days and has been succeeded by
nervous, unsettled feeling and naturally bv
reactions. Wheat shows net gain of AZ |
cents on the week, although and 5
cents lower than the highest point
touched on the boom. Corn is up 5I5
cents and oats are . cents higher
The jump of rye prices checked trading, |
and quotations show normal decline of la
2c since August /. The frmness of the
cereal markets rests on the extraordinary
exports, and thus far is but little Influenced |
BY the outlook for increasing receipts at the
West.
GRAIN EXPORTS TO EUROPE.
Our London correspondent this week in
creases his European net import estimate |
for wheat for 1S91-92 from 2S1, ,000, 900 to
$40, 100000 bushels, practically eliminating
Russia from the estimate Exports of wheat
week aggregate over 100000 bushels
against 5, 147 900 bushels last week and A.
80, 600 bushels the week before. United |
States ports and Montreal in the week | ;
year ago only exported :, ,4S9, 900 bushels of
wheat, and -four as wheat, and, exclusive
IF Montreal, only 2,703,OO bushels in the
week of 1889 and 9, 336, 900 bushels in 1855.
Montreal and United States ports this week
exported nearly g. 1000. 900 bushels as against /
;, ,4S9, 900 bushels in the like week a year
lgo. For seven weeks ending August 20 {
he total amount of wheat and -four ex-
ported from the United States was nearly ]
,5 600, 900 bushels, about 10, 900, 900 bushels :
more than in like period in 1890, more ,
han u 900, 900 bushels in excess as CON- !
pared with 1889, and fully 10000, 900 bush
lis as contrasted with 1888. =
There is some gain shown in leading /
wholesale lines at jobbing centers in the /
canadian Dominion and the outlook is en- ]
ouraging. The wheat crop of Canada is ,
lficiallv reported larger than had been ,,
,orts Is business failures this week, against {
5 last week and 20 this week last year j
he total number from January l to date is
1873, against ,044 last year. ]
r. q. Dun ~ Co.'S weekly review will
ay: There is little room to doubt that the !
oreign demand will be greater than ever if I
rces here are not SO advanced as to check | f
!. 1t is in the highest degree important !
aat the golden opportunity should not be I
ost through such a rise in prices as would : :
urtail foreign consumption.
1t may be doubted whether there has ever
cen a more cautious and conservative feel
ng prevalent at time when there is such
prospect of a large trade, and in scarcely