Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-13
SPECTATORS MOURN
But Legitimate Business Men Do Not
Suffer From Hard Times.
BUSINESS Is NOT BOOMING MUCH.
Poor Foreign Crops and large Home Yields
Give Cause for Hope.
BRADSTREETS AND DUN'S REVIEWS.

IOfdGtStre6t 3 IrOIn uldIY OF blle ledulIlS DuSI'
ness centers point to the approach Of the
customary midsummer dullness in general
trade. From nearly all points come reports
of declining movement of staple mer-
chandise, slow or only moderately fair mer-
camille collections and conservatism on the
part of the lenders of money West and
Northwest. Wheat harvesting is progress
ing favorably in Kansas and California,
with promise of a large yield. In Texas
the crops are all improving, and in Louisi-
ana some of the effects of the drouth have
been overcome.
Iron production has increased to the
equivalent of 12j, 900 tons during May,
which, in view of no better demand, fore
shadows continued low prices. Coal is
weaker. Lumber is quite irregular, being
dull and shaded in price East, but in fairly
steady demand, with prices firm, Westand
Northwest. Hog products are dull and
weak, and live cattle are lower
Trade in Various Mercantile Lines.
Leather stocks are accumulating and prices
have been cut, and there is no gain in rub
ber Tobacco is fairly active and tends up
ward. The relatively greater activity has
been among agricultural implement dealers
in hardware, groceries and clothing. Tex
tile manufacturers report not much doing at
Philadelphia.
Business failures in the United States
number 22S, against 233 last week and 149
this week last year. The total from Janu-
ary 1 to date is $500, against 5,O91 last
year
Bank clearings at IS cities for the week
ended June u amount to s., Ola, 147, ,13S, a
decrease from this week last year of 20.5
per cent. At 81 cities, New York's total
excluded, a decrease of 81 per cent is
shown. The heavy decline, as compared
with this week last year, is due to a decrease
at New York of SIT, ,932, 900; at Boston of
$50, ,356, 900, and at Philadelphia of $40, &c.
600.
Share speculation at New York is dull
and lifeless though the favorable crop pros
poets create a strong tone, which is assisted
by the improved foreign financial outlook.
At the same time the strength of foreign
exchange. and the possibility of a continued
gold export movement, constitute a menace
to the market. Bond are exceedingly dull.
Railroad Reports Are Unsatisfactory.
Gross railway earnings for May. 1891, are
,1iojn orar Mo- Tear ogo necrnosos ore
SS,,,-a ,,rr,o-o,,S +bsn for Toory ,nontbS nost
III -. ~ I;5osy~aaJ ,1aaI-oninP ~
narsI ,,l'u FL h,,s;noss Tbn 1or@a Hoins ond
fossss aboTt balance each other
Wheat has been denressed rather than
otherwise. bv tbe Government crop renort
the General Sentiment REGARDING If affecting
the 5nerket baarisblv Inst why this is sc
when the most bearish estimates of the cron
run onlv to about 54O. .OOO, 900, is not plain.
Reserves have been almost unprecedentedly
drawn upon. and Europe promises to want
more than 1OO, ,OOO, 900 bushels from abroad
in excess of preceding wears. while as
given above, the home crop promises to be
only 5O,oVO,oOO bushels In excess OF the
1',tS Iiborsf fro,, Lo.b or+s
Ioo soo LI,rLoIa DUrn JooSU
eee 4I I1iia "SeS, anu
,ooU OusIleIs rom tIe Onlbeu States
III 5oo dGo oa0 IaGt az
1ssa-oo 0''---O'-' 49, !" ANN F0-''O--
.
Inc seasOh Anects Drveoous'
Drygoods at iobbers' hands are in only fair
between-seasons' demand, and price conces-
sions have aided distribution. Agents re-
ported orders for fall ginghams and wool
dress goods, while fall prints have opened
moderately well. Raw cotton is 1Se lower,
the lowest price since 1885. This decline is
owing to heavy old crop movement, an un-
expected favorable Government crop report,
and smaller than anticipated decrease in the |
new acreage. The demand for wool is light, |
and prices are weak in most markets. with
tendency to shading in some.
r. G. Dun & Co.'s weekly review saws.
Very rarely has such strain been put upon
productive industry and legitimate business
as by the enormous exports of gold in May
Ii is a most significant fact that after this
severe test the state of trade is better for
tho saoSon and more bonefT,1 tbop II Tr.s ~
April, when the great movement had not
begun.
The Coming Mammoth Grain cron
49,.
W llnlh oV ua!s prooa3Iy lhe largest crop
"I wheat ever grown VIII pe moving 10 the
Ae,, Lne oSeinleis SiI.- . report ana other
Po' :iiT piioe "a cents
looS W, VIZ .IlI VlL0I"t rt wac not
30 4A' 9i@OIe les1iulne oats' Ahe price OF
oats cropped cents, and corn rose
nearly Ia cents
Money WA was easier, IN spite OF previous
eAPGIIs ~ SllNei gas I! io"sr' ana tile Fate OF
:. so IaI lllaV oanh-
eIs auiult go1u can no" pe sent ABROAD D only
al loss 70 those VINO oroer II Inc Treas
lI! mas aideu ABOUT 2Z'4oV' 10 the clrcu-
Ia,Iol 'iie Meeh, anu Ine recelpls OF
cuIlenC! ti0.l l we inieiIoi Ha1e peeh heayy:
HeoeIPtS nun o.ner cllles sho" tnaI |
uaue, "ille HioueIate LII Fotuihe, as Is 10 De 1
expected at thls season, IS 1alrly large, un- |
disturbed ana exceedingly confident as TO |
the future. AT Boston boots and shoes are
recovering Irom tne depression caused by |