Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-10-03
DULL BUT CONFIDENT.
The Weekly Reviews of Trade by
Bradstreet's and R. G. Dun & Co.
WESTERN COLLECTIONS BETTER.
Bank Clearings Show an Increase Over the
Same Month in 1890.
BUSINESS FAILURES SHOW BADLY.


| ESPECIAL TELEGRAM TO THE pIsPATCH1
NEW YORK, Oct. 2.-Rather less activity
in the general lines of distribution thai
had been expected continue to be reported
in special kilograms to Bradstreet's, although
particularly at the West and the Northwest
there is good deal of confidence displayed
that the receipt of orders will soon meet al
anticipations. Chicago, Minneapolis, St
Paul, st. Louis and San Francisco report
relatively the greatest degree of activity il
staple lines.
Farmers sales of produce in Central
Western, Southwestern and Northwestern
States are beginning to show in improved
mercantile collections. Funds are not sc
much in demand in agricultural regions
west of the Missouri river as recently, and
more money is going South.
The greatest degree of activity continues
in groceries and provisions, except lard,
which is dull, tobacco, with advancing
| prices, clothing, hats, shoes and hardware.
Colder weather will stimulate general trade
| greatly.
Textile manufacturing industries at Phil
adelphia lack snap, some mills running
only part of their machinery. Lumber
| sales have improved at Western markets.
The demand for leather has improved and
prices tend upward. San Jacinto tin fur
naces are reported working well, and regu-
lar shipments thence are announced. Fully
1000, 900 feet of Puget Sound lumber has
been sold for export to Australia.
September bank clearings reflect an i'm
proved tone of business and an enlarged
volume of speculation. For the first time
this year months total clearings show a
gain over the corresponding month a year
ago. Total clearings at 81 cities in Septem-
Der were S., ,279, 1913. 525, gain over last year
of 8. per cent. New York City's clear
ings, owing in part to stock speculation, ex-
ceed those of last year by per cent, while
outside of that city the increase is g. per
cent September's good showing has not
materially improved the record for the year.
Clearings at So cities for nine months ag-
gregate $40, S08, 146, ,S03, a decrease of nearly
8 per cent from last year. The decrease at
New York is 1917 per cent and outside that
city 3.3 per cent.
A BAD RECORD OF FAILURES.
ures throughout the United States during
nine months of the current wear show a
total of s, S66, against 1888 in the first nine
months of 1890. The aggregate liabilities
of failing traders are S138, 81, $40, against
S92, 541 $50. The increase in the number of
failures is II per cent, and of liabilities 80
per cent.
The passing of the Missouri Pacific divi-
dend, followed by decline of 90 points in
that stock, has arrested the bullish tenden-
cies in stock speculation and caused sharp
and general declines in values. This move
meLt was to some extent aggravated by the
magnitude Of the preceding advices, which,
with the expansion of speculative activity
and public participation, rendered a reac-
tion inevitable A frmer tendency in the
money market, due to the October, interest
disbursements, also had some effect, though
at the close of the week the general market
is quieter, with rallying tendency.
The New York money market is close, in
spite of heavy receipts of gold from Europe,
with further amounts in transit. Exchange
is still at the gold importing point, but the
pressure of grain bills is not so severe, and
the shipments of gold from Europe are on a
smaller scale
THE TRAFFIC IN WHEAT.
Exports of wheat from the United States
for the week ending October 1, both coasts,
have declined sharply, aggregating, with
flour as wheat, only 3,405, ,982 bushels
against 4,711,0 bushels the week before
and 6,974, 900 bushels in the preceding
week. In the concluding week of Septem-
Der for three preceding years like exports
did not vary much from 1,60O, ,000 Exports
from United States and Montreal this week
were 3,759,09 bushels in the like week of
1890, a little more than 40 per cent as much,
and for IA weeks exports, wheat and -four,
aggregate 5S,6S2,000 bushels, against 2j,-
III, 900 bushels from the United States and
Canada in IA weeks of 1890, 26, SIS, 900 bush
els from the United States only in 1889,
81, 757 900 bushels in 1888, and 80, 324, 900
bushels in like portion of 1887.
Exports of wheat from California are
checked, and visible stocks there accum-
ulate. Shipments of wheat by farmers West
and Northwest are falling off, and interest
revives as to the extent they may carry
such restriction. For the first quarter of
the present cereal year the available stocks
of wheat have increased net 19,753.000
bushels, both coasts, as contrasted with an
increase of only 3O74,0OO bushels in the
corresponding portion of $780,
DUNN's OPTIMISTIC REVIEW.
r. G. Dun & Co.'S weekly review saws:
lne past week HAS Drought lHe expected re-
action il stocks, with the passing Of divi-
dend by the Missouri Pacific and some
troubles among Western roads; but in the
business of the country no reaction appears,
nor are there signs of discouragement. In
very many cases farmers will realize for
their wheat grown this year more than the
entire cost of their farms. Unseasonably
hot weather has for the time retarded some
trades, but change is already noticed.
1t is also most encouraging fact that
these favorable conditions have produced as
vet no speculative excitement or craze, such
as often prepares the way for swift and dis
astrous reaction. 1t is fortunate for the
country that apprehension of financial diff
fculties this fall has powerfully restrained
the speculative tendency
The iron markets are distinctly stronger.
There is less pressure to sell and conces-
sions are more rare, even though any ad- |
vance in prices is as yet resisted. The de- |
mand for bar iron is not active, and weak |
ness in stocks tends to check sales of rails. |
Anthracite agents have decided upon an |
allotment of $3.50, 900 tons for October. al |
though actual prices are not above those of |
the July circular, while there have since
been two advances.
LAKE TRAFFIC --StofiePs illustrated let
ter for THE DISPATCH Tomorrow de-
scribes the progress of traffic on Lake Erie |