Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-28
IRON UP ONCE MORE.
The Raw Product Appears to Have
Reached Its Turning Point
GENERAL TRADE GOOD OUT WEST.
No Increase in Volume Is Noted in the
Large Eastern Cities.
RRkBST9FET'S andre DUS'S REVIEWS
GENERAL TRADE GOOD OUT WEST.
ERApSTREErs ANDRG DUNS REVIEWS
ESPECIAL TELEGRAM TO THE DISPATCH,

TO BrC5St7est'S point to a moderate improve
n1ent in general trade at Chicago, Cincin
nati, Duluth, Omaha, New Orleans and San
Francisco Sales of groceries and provis'
ions, Of drvgoodg, clothing, boots and shoes
and holiday goods have all increased in
volume.
~ Cincinnati the demand for iron is said
70 be better Raw iron appears to be al
about the turning point, for while price,
arc as low as recently reported. one sale OF
Bessemer pig having been made at the low
est point on record, yet Philadelphia re-
ports distinct gain in orders for crude
iron. Steel rails are also in better request,
about $4,000 tons having been ordered with
in the week, and makers, like furnace
owners, begin to feel encouraged as to tn e
outlook Large numbers of railway freigh 1
cars have also been called for, and there i.
- E renewed request for iron for shipbuild-
irg.
he output of anthracite coal has been
curtailed for December, and the movement
is fairly active, with prices we'll maintained.
Good Report From the West
The weather during the week has tended
70 stimulate general trade West and North
west, but the holiday, of course, Gu. into
The total volume of transactions, as CON-
pared with the preceding weeks. Mercan-
tile collections are more prompt in the
large wheat-g rowing, but no better in the
cotton-raisi az region. The Eastern boot
and shoe industries are feeling Western
competition, and hides remai7 dull. Tex
tile manufactures generally are quiet. Live
stock receipts at Western markej. are free,
and prices at some points are weaker, while
products continue dull.
Copper is quiet and lower at Boston in
expectation of the sales of the Anaconda's
product. None OF the larger Eastern cities
renort an increased volume of trade.
Business failures in the United States
number 242, against 303 last week and 233
this week last year. The total from JAN
nary to date is 10, 9S4, against $3.50 last
year.
The Russian ukase prohibiting exports of
wheat had no effect, having been generally
discounted, and wheat is off 94c per bushel
on the week. A speculative corner in
lHdisn corn has put that cereal up 90 cents
nj Chicago and 10 cents at New York. Avail
able domestic stocks are only one-half what
they were one year ago. Lake shipments
Of wheat are enormous. and Granger rail-
roads are taxed to their utmost to handle
the grain offered.
Wheat Stocks and Exports
Spectators at San Francisco have over
estimated the quantity of wheat available |
for export from the Pacific Coast again this |
wear. and the supply of tonnage at San |
Francisco Is such that grain freights have |
collapsed Exports of wheat from IL sea-
board ports of the United States, our Gus |
tomarv report, equal 4,0S2 900 bushels, |
about I6 per cent of the total for the pre-
yious week with one more day. The aggre-
gate from II ports for % weeks is 81 ,421 1000 |
bushels, about 80 600. 600 bushels more THAI
in Z like period of 1891 and 1889, more than
twice much as in 1888 and 25 000, ,006
bushels more than in % weeks of 1851
Share speculation is dull, but the tone of
the market is more bullish in sympathy
v it'll the recovery of confidence abroad. In
creasing railroad earnings, the declaration |
o a dividend il Erie preferred, the submis-
SION of the Richmond Terminal compIica-
I nns to 4 committee of bankers, and the
general reports that Western railroad traffic
j. IN excess of the rolling stock capacity all
have a buliish effect. The bears in the coal
stocks have been driven to cover, the meet
ing Of the sales agents to settle the Decem-
Der output being harmonious, without anv
indication that the Readings anticipated
demand for an increased percentage Of out
put viii create serious trouble.
Bonds Active and Money Easv
The bond market is active, with increas-
Ing demand, due to the growing ease of
money and the anxiety of investors to find
employment for idle funds Foreign ex-
change is firm on the limited supply of COM
nercial bills, nut some small amounts of
gold are still being shipped from Europe.
The failure in Wall street had no effect on |
the market.
Bank clearings, as wired to Bradstreet's, |
are from 66 cities this week. The total
s.. oG1 ., IA from 81 cities in the United
SIares Is practically the same as last wear. !
Ont OF 90 cities reported, 26 show decreases.
brvgoods are in quiet demand, owing to |
holiday influences. The lightweight wool
ems season has disappointed manufacturers. |
Makers Of heavy goods are only working on |
orders. Wool is slow of sale, though in a
little better movement of late. Cotton {
goods trade prospects are fair The print
cloths situation has improved. The export {
demand Is poor, on account of political and
financial troubles in China and Brazil. |
reciprocity with the latter country is re-
ported not TO have appreciably helped the I
demand yet. Raw cotton is practically un- ,
changed The crop movement is very large.
Il. 6. Dun & Co.'s Version.
r. 6. Dun < Co. s weekly review saws:
week broken by holiday has shown the
usual characterlstics-weak speculation. ,
'cIive retail trade and moderate wholesale )
business. But the great factors which 90 to 8
make national prosperity are unaltered. At I
nittsburg pig iron is weaker, but MANN !
actUred iron and steel are in good demand. {
md The glass trade fair. At Cleveland trade /
5 good IN all lines excepting less demand !
Or manufactured iron. I
In the great industries the outlook is i'm ;
'rored There is a better demand for iron. {
Dn the whole there are evidences-of enor- I
nous consumption already, nearly equal to
lie production, with prospects of an in 6
rcase next year Money is comparatively {
asy End collections generally fair. The
Npors OF products in four weeks at New
orr, have exceeded last years by S.. .461.
= q value. Indicating an aggregate for the | n
l0ntn probably exceeding S95, ,000 600. and | b.
{ the same time there is decrease of 10 J.
cT cedt in the value of imports There is NJ
ertain to De a very large balance PAYABLE te
N merchandise account by Europe; but =
nus far Jhcre are no signs of real trouble.
Ncept IL speculative quarters 1t is TO be
cueu,bered also, that the country is at
rssel-: unusually independent OF foreign 4
iSaStass. III
Bradstreet's Table of Bank Ciearinys. III
The following table, compiled bv Brad
rect gives the cieaTings of the week ended y
cyel2oer 26, with per centages of increase
2 decrease, as compared with the cores \
Cndlng week last wear: