Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-03-14
1t Is Rather Favorable as Regards
Pittsburg Industries.
A SHRINKAGE In IRON OUTPUT.
Prices Still Move Upward, With Decreas-
ing Stocks of Wheat.
TIE RESTRICTION 0F COAL A FAILURE
ESPECIAL TELEGRAM TO THE DISPATCH,


clining demand, has been curtailed 5000
tons weekly, as compared with the output
three months ago.
At Western centers the late revival of the
| demand continues, and there is increased
strength at Philadelphia and New York. No
| special advance appears likely in the near
future after the enormous output of 1890,
and with prospect for only moderate rail-
way extension. Steel rails are frmer now
that the mill which refused to combine on
prices has been consolidated with its prin-
cpal competitor; but the anthracite coal
combination to restrict output is one which
does not restrict, as 1. 451, S3S more tons had
been mined and shipped bv March Z. 1891,
than in like portion of 1890.
A Bright Side to the Strike.
The industrial situation is quiet, especial
ly in coal mining, though fewer miners are
idle than last week. The coke strike is not
expected to continue long, as iron producers
rather enjoy its effect, now that demand is
slack. The building trade outlook is less
favorable at Chicago, Philadelphia and
Milwaukee.
A contest is promised in the clothing trade
at Rochester. Leather and hides are firmer
at Boston, and the latter are higher. Lum-
Der, too, is more active, and rubber prices
tend upward. At Philadelphia wooden
spinners report an improvement in the de-
mand. At New Orleans the movement of
staples has been active, notwithstanding
high water. threatened floods and washouts
of railways throughout Louisiana. Kansas
City reports brisk movement in wholesale
lines, while Omaha merchants are evidently
cautious to prevent overstocking by their
customers.
Hog products have been in active request
and prices are higher. AT Western live
stock markets cattle are 10 cents and hogs
u cents higher. Refined sugar is off one
fourth cent, duty paid, being in less active
demand.
Business Failures and Bank CIearings.
Business failures in the United States
this week number 200, against 231 last week,
and 2O9 this week last year. The total from
January to date is 1858 against 1857 last
year.
Bank clearings at 56 cities for the week
ended March IL, are $685. 7S7, 54S, decrease
from this week last year of 1O6 per cent.
New York City's clearings are 16.1 per cent
less than for the like period last year. AT
90 other cities the gain is 7-10 of per cent.
Marked cullness accompanied by I'M
provement in prices, prevails in share specu-
d
feeling regarding the foreign financial stu
alton aud the favorable outlook in regard to
the crops and railroad earnings tends TO
sustain values. Money generally through
out the country is moderately active, with
rates not materially changed from last week.
Reports to BradStreet'S from u chief
wheat producing States east of the Rocky
Mountains and on the Pacific coast indi-
cate probable total OF wheat in farmers
hands two weeks ago OF about 104, 000, 900
bushels.
Smaller Stocks of Wheat Available.
This points to smaller stocks of visible
and invisible, 5000, 900 bushels less than on
March 1 in any of the preceding seven
years. 1t is also calculated that only ST.
600, 900 bushels of wheat remained for export
and reserves, both coasts, March /, alter
allowing 11S, 900, 900 bushels for home re-
quirements to July 1 next.
Gross railway earnings for February show
q gain over February last year, in spite of
the reduced traffic of the trunk lines, smaller
cereal crop movement and floods on several
Central Western roads. All Pacific roads
but one show gains, and account tor so per
cent of the total gain. Eastern roads have
done fairly we'll, as have Southern lines
which carried large quantities of cotton.
The total gross earnings of 1873 railroads for
February aggregate S32, 751 ,314, on a total
of 81, ,686 miles, again of "A per cent in earn
ings and 3.3 per cent in mileage.
R. G. Dun & Co s weekly review saws:
Foreign influences have again disturbed the
market little and increased the prevalent
conservatism OF feeling. Directly, the effect
here should be slight, but it is impossible to
say how the already strained condition at
London may be affected, and serious pres
sure at London would be felt in sales of
securities here.
Poor Railroad Building Prospects.
The prospect for new railroad building,
and consequently for rail production, is not
helped by the monetary situation, and stocks
have been considerably weakened. but there
is more active speculation in breadstuffs,
pork products and cotton, which have all
advanced, and the outlook for farmers
has rarely been better at this season
than it is now. OF the great
industries, nearly all are ex panding and en-
ploying labor fully, but the coke strike and
other causes have produced a remarkable
shrnkage in the output of iron. The weekly
output of all furnaces in blast March was
but 1874, 526 tons a decrease OF 10 per cent in
a month. So great decline would be
sign OF impending disaster if it were not
properly attributable in u large measure to
temporary causes. The belief that the coke
strike will soon end in cheaper supplies of
fuel, while the railroads west of Pittsburg
have Just
Agreed to Reduce Their Charges,
prompts consumers to expect lower prices
soon, and though the market here has a bet
ter tone, Northern No. is quoted as low as
SIT and Southern at SIG 25. The rail COM
bination has at last been formed, but the de-
mand is small. Bar iron is weak, but in
structural there is more activity.
The prospect for the building trades is
rather dull here, but at other cities, particu-
larly at the West, it is remarkably bright,
with the single condition that threatened
labor troubles do not Interfere. The wool
manufacture is doing remarkably we'll,
though the price OF goods do not advance.
The mills engaged on dressed goods and knit
goods are especially active, and the worsted
works are on full time with fair prices. In
the boot and shoe industry shops are fairly
employed, and some new works are going
up, but a speculative furry in hides and
leather has made business less satisfactory.
Reports from other cities are fairly favora-
BILE.
From the Leading Trade Centers.
Boston notes more buyers of boots aud
shoes from all parts of the country, but their
dealings are very cautious, and they refuse
any advance on last years prices. Some
kinds OF leather are higher again, but do
mestic hides are more freely offered at lower
prices. Wool moves steadily; lumber is
fairly active, and coffee strong.
At Philadelphia the wool trade is active
with light supplies. AT Chicago, the dry
goods sales considerably exceed last years
at the same time, but the payments are not
so good, as was expected, and in clothing
and boots and shoes the situation is the