Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-04
Report More Than Midsummer Dull.
ness in the State of Trade.
REPORTS FROM ALL BIG CITIES.
Decreased Business in Stocks Explains
Smaller Clearings.
REPORTS FOR THE PAST SIX MONTHS
ESPECIAL TELEGRAM TO THE p1spArcH.1

eral business, except IN lew staple lines.
AT Boston, Philadelphia, Memphis and SaI
Francisco rather more than seasonable dull
ness is reported, which at the latter is in
tensifed by excessive heat At New York
Baltimore Cleveland and Cincinnati The
volume of goods distributed has been o
distinctly moderate proportions. Ever
those entcrprisiHg centers-Pittsburg, St
Joseph, Omaha, ST. Louis, Kansas City,
Chicago and Duluth-report trade as only
fair, while ST. Paul remains conspicuous fol
more encouraging reports. New Orleans,
also, announces some improvement in in
dustrial lines.
Pig iron, anthracite coal, lumber, leather
and tobacco have been in no better demand,
and, except the latter, are taken for wants
crease and of prices moving toward heavi-
ness.
Small Business in Drygoods-
The volume of sales of staple drygoods,
notions and clothing at Western centers has
decreased. Print CLOTHS are unchanged at
bottom figures. Wool is more firmly held
at the West, but the movement East is not
encouraged by manufacturers, who are TAX
ing spariugly, prices for Ohio and Michigan
feeces being 2G5 cents below quotations a
year ago and the market not active
Louisiana sugar and cane crops are i'm
proved. The Texas oat crop promises to be
q heavy one, and late accounts from Kansas,
Minnesota, the Dakotas, Iowa and Nebraska
are very favorable for wheat. San Fran
= IL 81 nh oal
provisions to Ecuador and Peru, which have
heretofore relied upon Chile for those sup
plies. Cotton and rice are featureless
Several of the larger Western iron and
steel manufacturing concerns have shut
down rather than sign the modified wage
scale proposed by their employees.
Wall street has experienced tangible
renewal of speculative activity, and some
thing of an Improvement in share values.
Covering by the short interest was the
main factor, but European .buying ap-
parently gave the needed encouragement to
the bulls.
Europe Believes in Yankee Prospects.
In spite of gold exports aggregating
81, 700, 600, Europe seems inclined to take
favorable view of the situation, while
sharp decline in exchanges encourages the
belief that the gold movement may come to
q close.
Railroad interests take very favorable
view of the outlook which affects the spec
ulative community Money at New York
remains very easy on call, but is firm and
scarce for extended time loans on intima-
tions that the amounts of gold lately
shipped TO France are TO be returned.
The bank clearings totals at 81 cities for
six months of the year equal S26 900, 600, 900
fully $4,000, 600, 900 less than in the six
months of 1890, a decrease of 10 per cent.
OF this $1,000, ,000. GOO, New York City's
decrease alone accounted for nine-tenths of
that slIm, more than One-half of which was
due to decreased transactions at the New
York Stock Exchange.
There were nearly II per cent more bust
ness failures in six months of 1891 than in
a like portion of 1890, while the increase of
liabilities was fully 80 per cent, chiefly in
Southern and Western States, largely
among banks, bankers and investment COM
panies, and TO some extent among manu-
tactuners and dealers in iron pipe, woolens,
shoes, drygoods and lumber.
The stocks of Wheat Decreasing.
Available stocks of wheat in the United
States and Canada July were about 3d.
00O,0 600 bushels, which, with invisible
stocks in the United States, indicate a total
reserve not to exceed 80. .000, 600 bushels, the
smallest at like date for nine wears. The
exports of wheat and flour as wheat from
both coasts of the United States this week
equal 2,221, ,S97 bushels, against 1,906,4 All
bushels last week and 1,200, ,S31 bushels in
the week ending July 81, 1890. The prices
of the wheat and flour have advanced on re-
neved export demand and speculative
activity.
Wheat crop prospects in the Dominion of
l.. =. L
an influence on general trade which has
heretofore been slow and depressed. Busi-
ness failures in the Dominion, including
those for Newfoundland, increased 127, or
Il per cent, in six months of 1891 over 1890,
and the increase of liabilities was 81 AS
2S6, or 20 per cent. The increase in num-
Der and in debts of failing traders is to be
credited largely TO the Province of Quebec.
II. G. Dun & Co.'S Version.
Il. G. Dun s. CO.. weekly review will
say: Everything waits for the crop. 1t is,
therefore, Of the first importance that the
crop prospects have never been more uni
formly satisfactory at this season. In other
the general outlook is unchanged
While the volume of business represented
by clearing house exchanges outside of
New York is about 9 per cent less for the
last week of June, and about 10 per cent
less for the month than last year, there is
confidence in the speedy recoy-
cry and expansion of trade.
Reports in the interior ports show q fair.
but III many respects, waiting trade On
the whole, there is a better demand for mill
iron at Pittsburg, where the glass works
have closed for the summer. At Cleveland
drygOods, shoe, clothing and grocery trades |
improve, and manufactured iron is in good
demand. AT Cincinnati the building and |
lines are quite active, but at De- |
troit wool moves slowly, holders waiting |
for higher prices.
At Chicago wheat receipts are five times |
last wears, and receipts of wool and hides |
nearly double, increased in butter and |
flour, but loss of One-half in cured meats |
and dressed beef; of two-thirds in lard; of a |
quarter in corn and cheese, and some de- |
crease in oats, barley and rye The day |
goods trade equals last years, with prompt |
payments, while trade in clothing and shoes |
much exceeds last years.
AT Western and Southern Points.
AT st. Louis trade improves slightly. |
Staple groceries are active, and confidence |
grows as the harvest answers estimate AT |
st. Paul gratifying increase in the handling |
Of cattle is noted, and strong confidence be- |
cause Of marked improvement in crop pros |
poets there, at Milwaukee and at Omaha
Trade is dali at Nashville, holding up fair
~ at Savannah, sluggish but strengthening
At Memphis, as crop prospects there i'm
prove, and larger at Jacksonville, where
vegetables are moving In large quantities.
Trade is seasonably dull at New Orleans,
out refined sugar is active, with large sales
of German granulated
1t is the dull season in iron, many mills
having closed for the usual vacation, and.
while prices are generally shade higher
han in May, vague fear of the future
,hecls purchases. Structural and plate iron