Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-21
TRADERS FEEL EASY.
Much to Disturb Confidence, but 1t
Still Remains mistaken.
AN OBSTINATE MARKET IN IRON.
manufacturers Think the Country Can
Stand Larger Output.
THE RACE OF THE CLEARING HOUSES
rsPEcIA1 rELKeRAN TO THE p1srArcH.l

underwear, hosiery and boots and shoes
though thus far principally at retail NJ
one of the larger Eastern cities has exper
fenced any material increase in the volum,
Of distributive trade.
1t is not until one reaches Chicago that
distinct ain is founded on the increased
bank clea rings there over the like week I
year ago, amounting TO ~ per cent Bans
clesrings, as wired to Bradstreet' S,are from 6t
cities this week The total, 81, 253, 034, ,75S
from 81 cities in the United States is II 2pel
cent less than in the like week of 1890 The
decline is largely due to the decrease al
New York City, Philadelphia and Boston.
Out Of so cities reported, 2S show decreases.
Trade Quiet in the East and South.
General trade has been relatively quiet at
Boston. Philadelphia, Baltimore, Cincin.
nari, Pittsburg, Memphis, st. Louis and
81. Joseph Kansas City announces rather
more activity At the South the volume OF
trade is smaller than anticipated, and low
prices for cotton check mercantile col
lections. Receipts OF cotton, sugar and rice
are exceptionally free. The exception as to
e Elections being slow al the South is in
Texas
Tobacco is more active, and rubber and
coffee are excited and higher in leading
Eastern markets. owing to Brazilian po-
htical complications. Leather and hides
are dull
st. Louis and Cincinnati report pig iron
having an advancing tendency, but these
are exceptions to the rule Sales of iron
and steel at Pittsburg within week
amount 10 about $4,000 tons each-rather
better than the recent average. Several
large iron orders are booked for 1892 de-
livery, and makers of pig are less anxious
70 sell
Sales of railway shares are fewer, being
1,13l. 600, against l, SOC, GOO last week.
Business failures in the United States
number sos, against 26S last week and 245
this week last year. The total from JAN
nary to date is 1862, against s,947 last
year
Exports of Wheat and Rye.
Exports Of wheat are increasing rapidly
again, aggregating, both coasts, for the
week ending November 19, 1888, ,691 BUSH
els, including -four as wheat, from the
Juited States, and o. SOS, AS bushels from
the United States and Canada in the like
week last wear, and less in similar weeks in
7,S9, 1888 and 1885,. This is, also, 10000
bushels more than in the week ending No
V.mber j., 1.100 900 more than in the pre-
n.liug week, and 1000. 900 bushels more
than in the week before that. For21 weeks
the total exported is 81, ,3S3, 900 bushels,
4I,0G0. 600 bushels more than in like share
ST 1880: 46.O0000O bushels more than in
1Sog; $4,000, 600 bushels more than in 1888,
sad 24,UO0, 600 bushels more than in 81
weeks OF 1885,.
Exports of rye from Atlantic ports more
than doubled during the week, amounting
t0 l22. $50 bushels Sales of wheat at New
YORK this week amounted to only 80, 100000
bushels. against 63. 512, 900 bushels last week,
and prices went off &c busheL
september net railway earnings are
among the most favorable of the year, and I
reflect a months immense grain movement
lv large gains in earnings of the Granger
aud Southwestern roads. The trunk lines
Snow the only decrease, but it is less than 1
Der cent. The Granger roads show net
gains Of "a per cent
The Figures to Railroad Earnings.
Total net earnings of 100 roads for Sep
-e1uber aggregate S23, 459, ,132, against S21,-
4l6.7o2 last wear, a gain Of 9.5 per cent on a
gain in gross Of only IS per cent. Last
vrar September net earnings increased Al
grgr cent over September 1889. For nine
months the net earnings aggregated STA
-6H. 565. against S166, 54S 254 last year, a
-a5u OF 40 per cent on a gain in gross of g.
r.er cent. This follows gain of Il per
cent for nine months year ago over 1889.
southern roads make the best showing,
while the Eastern and Southwestern roads
showed deer ases from last year
share speculation at New York continues
20 be mainly professional on the financial
disturbances on the Continent, and later on
ars regarding the condition of Richmond
Terminal exercised an unsettling influence.
Nevertheless, the market has shown greater
resisting power, and the Granger and trunk
If.e shares advanced on large earnings, and
rla tarJ that the close of navigation will
tend TO increase traffic. The Coal shares,
a.,n, have shown strength, the liquidation
iu Delaware and Hudson having ceased.
Renewed ease in the money market causes
increased inquiry for railway bonds, which,
also. tends to support the general market
Foreign exchange has advanced on a de-
creased supply Of commercial bills, and
shipments Of gold from Europe have been
verv small. About 81 600, 900 is, however
-r5lI en- route.
Dryrood, Cotton and Wool.
Some slight gain in the total volume of
business in drygOOds is reported East as a
result of cooler weather, but the result, on
the whole, is not up to expectations. Mems
wear woolens are dull. Print cloths are in
better demand, but not frmer. More work
is being done by Eastern mills as a result of
the improved water supply. Philadelphia
manufacturers of woolens are holding ship
1ueu-s till January l. Wool is quiet, the
market is depending on the season for
heavyweight goods. Consumption is cur
tailed by lack o. orders or low water. Cot
ton is lgc of on large crop movement.
r. q. Dun & Co.'S weekly review will
say: Much has happened of late to depress
business and shake confidence and vet con-
fleuce is not shaken and the volume of
business is still close to the greatest ever
attained. Prices are settling downward
win enormous production, but the fact that
f-rh production continues shows that the
lnw prices are not ruinous.
The Financial World Breathes Freely.
Alarm about the money market has
passed and no disturbance is apprehended
fh.> vear Industries are, on the whole
wsl employed, and it is especially note
worthy this week that there is q better tone
In branches of trade which have been most
embarrassed
AT Pittsburg the iron trade is weaker,
glass works are in operation and coal min
ers have resumed. At Cleveland trade in
leading branches is good and manufactured
iron is in active demand. AT Cincinnati
general business is active but heavy, while
lumber failures cause some uneasiness in
that line.
The most stubborn iron market ever
known gives surprise to many, for in spite
of unprecedented production the prospect
Of some accumulation of stocks does not
disturb s.rong makers, who reckon that it
m9v be we'll Tor the country to lay in and
hold much larger stocks than heretofore, so
that sudden and violent fluctuations may
not be so readily produced. Large sales of
Is az he -t4gE tod hut mn r-ets