Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-04-11
BRADSTREET ANDDUN
Take Slightly Different Views Of the
Weeks State of Trade.
ONE REPORTS A LARGER VOLUME
The Other Dwells on the Gloomy Situation
in Iron Traffic.
PROSPECTS OF HIGHER GRAIN PRICES


and Omaha as compared with trade in the
two preceding weeks. The greatest activity,
with almost an approach to buoyancy gener-
ally, is at San Francisco, where the excel
lent crop outlook, higher and advancing
price of wheat and a steady demand
for all products, notably barley, for export
to South America, stimulate business gener-
ally. The significant report is made from
Memphis that its tributary country is bare
of corn and hay, with the demand brisk for
both. Overfows have ceased to affect the
trade in the lower Mississippi Valley, but
business there has not equaled expectations,
and activity is shown only in the movement
of sugar.
New York, Boston, Pittsburg, Cincinnati
and Cleveland did not increase their general
trade aside from speculative lines. Bad
weather still fingers in the central w est,
and heavy country roads continue check
on the interior movement.
The Iron Trade Still Dull.
Large stocks of unsold iron ore and the
dull state of the iron and coal industries
cause lake freight carriers to delay opening
navigation until May Is. Leather and
hides are weaker and incline to lower
figures. Wool is about steady with
shading at Boston and a fractional
hogs are generally 5@10c higher
at Western markets. Drygoods are in slow
request. but will improve with steady spring
weather. Print cloths are shade frmer on
declining stocks.
An increasing amount of work is being
done in the Connellsville coke regions, but
whether the strike is practically ended has
not been made clear. In other directions
labor disturbances have increased within
the week.
Business failures in the United States
number 17S, against 216 last week and 157
this week last year. The total from Janu-
ary / to date is SIPS, against 8, ,665 last
year.
Gross railway earnings for March are
larger and more satisfactory than those for
February, there being fewer decreases. and
the tendency toward increases being more
widespread. Every group of companies
shows gain, both for March and for three
months, over last year.
Increased Railroad Earnings.
The increase for March is 40 per cent in
earnings, and &c per cent in mileage. The
Eastern, Pacific and Southern companies
make the best showings, the Grangers re-
porting the smallest gain. The total earn
ings of 130 companies for three months are
S99, 954, SIG, gain over last year OF 81 per
cent. This follows gain for the quarter in
1890 over 1889 of 1913 per cent
Money markets have been somewhat ir-
regular, the increased demand for funds by
speculative interests In cereals, provisions
and transportation and industrial securities
tending to harden rates at some centers.
Bank clearings at 81 cities for the week
n
increase over this week last year OF per
cent. At BE- cities New York's total ex-
cluded) the gain is 1.3 per cent.
Share speculation at New York is active
and nervous, with advancing tendencies and
increasing professional and public interest,
due to the encouraging crop conditions. The
export of $4, 900. 900 OF gold to Europe has
had comparatively little effect.
Wheat Is on the Rise.
Wheat scored another advance this week,
and it is not unlikely to 60 higher, with in
visible stocks small, exports relatively heavy
from both coasts and foreign demand active
Available stocks show signs of decreasing
most rapidly. Exports, both coasts, this
week (including flour as wheat) equal
., 49,, ,652 bushels, against 2, ,164. 1873 bushels
last week, and 2, 0S3, 719 bushels in the second
week of April, 1890. Exports from July to
date equal "a, ,917, l41 bushels from the United
States only), against 81, PA, 057 bushels
in like portion of 18S9-90, and SO, 269, ,016
bushels in 1SS8-S9. Last weeks wheat ex-
ports have only been exceeded in one week
within the current cereal year. Available
stocks of wheat in Europe, consolidating
Beerbohna's and BrGdstreet'S totals, equaled
SO, S6S, 145 bushels April 1, 1891, 344, 900
bushels more than on March 1, 1891, II, &c.
795 bushels less than on January l, 1891,
9,013 700 bushels more than one year ago,
and 485, 900 bushels more than two years
ago.
In the Dominion general trade has not
been very active. When navigation opens
some improvement is expected. Complaints
are heard from the boot and shoe trade at
Quebec City. Montreal says trade is dull
and merchants are complaining, while
Toronto reports moderate activity only.
The Dominion reports 81 business failures
this week, against &c last week, and 38 this
week last year. The total number from
January 1 to date is 633, against COS last
year.
Dun Takes a Gloomier View.
R. G. Dun & Co.'s weekly review says:
1t cannot be said that the business of the
country is expanding, when there is de-
crease of nearly one-sixth within single
month in the output of pig iron. In nearly
all quarters the admitted slackening of trade
is attributed to merely temporary causes, but
the state of the iron trade can't be thus ex-
planned, and while it may at any time
change for the better, it is at present an un-
favorable symptom. At Detroit char
coal iron is offered at SIS, the
lowest. price ever known. 1t is hopeful
feature, on the other hand, that stocks un-
sold have decreased during the month more
than one-quarter, boths of anthracite and
coke iron, at furnaces reporting. But the
trade is very dull, and some Southern fur
naces are weakening as to price, while the
market for manufactured forms of iron and
steel shows no improvement. 1t is said
that the orders for rails placed this year do
not reach 400, 900 tons. Another element,
which may prove of great, though tempo
rary. Importance, is the decision of great
body of miners to strike May for eight
hours.
The State of Other Industries.
The Eastern coal trade is very irregular,
buyers waiting the effects of the Coke inter-
State decision. Other industries show no
material change, though the wool market is
more dull. The boot and shoe trade is un-
commonly dull, with prices tending rather
downward. Sales of 500, 900 pounds lake
copper at 1873 cents, are reported. Lead is
weaker, but tin has been advanced by specu-
lation. The outlook for the building trades
is generally favorable, but labor troubles at
some localities are still threatened.
Reports from the various centers of trade
are about the same as last week, but recog-
nize temporary slackening even more gen.
orally, while it is attributed manly to bad
weather and the state of country roads.
Pittsburg reports lower prices for iron pro-