Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-16
THE TREND OF TRADE.
Bradstreet's and Dun's Reviews Of
the Past Weeks Condition.
PITTSBURG UP TO EXPECTATIONS.
Bank Clearances Show a Decrease and Col
lectiOns We're Slow.
COKE STRIKE STIFFENS IRON PRICES
ESPECIAL TELEGRAM TO THE DISPATCH. ]

eral trade, as previously reported to Brad
streets, has been fairly well. maintained.
Noteworthy exceptions are at New Orleans,
where drygoods, groceries and hardware
have not been distributed with customary
freedom, and labor troubles have interfered
with building operations and metal indus
tries. Pittsburg, too, has NOT enjoyed a
volume of general trade equal to expecta-
tions. Lumber, generally, is not in as active
demand as year ago, and hides are dull.
There has been slight advance in tobacco.
Sales of wool have increased, principally
of foreign. Refined sugar is off Zc on
slack demand and increasing stocks Dry
goods are in better demand, but the low
prices have aided the distribution. The
tone of cotton goods prices is, as rule,
better than last week at first hands, and
some bleached goods have been advanced.
Print cloths are very much depressed, and
stocks are increasing. Grain crop reports
continue Of promising nature, and in some
instances credits have been extended by
western jobbers, owing to the favorable
outlook, to farmers and country storekeep-
ers. Large wheat yields are indicated on
the Pacific coast Business failures in the
week and 151 this week last year. The to-
tad, January / to date, is 4,615, against 4, AL
last year.
The Railway Outlook.
Gross railway earnings for April show
the smallest gain over the like month year
ago of any month since last summer, being
compared with a month last year when the
volume of earnings was at its height. The
Southern roads, aided by the largest April
cotton movement on record, make relatively
theibest showing. The, comparatively free
movement of grain at the West, due to high
prices in April, has aided granger road
earnings Gains are more evenly distributed
than in previous months this year. The
total earnings of IA companies in April
amounted to $37, ,239, ,473 on 81 ,222 miles Of
road, gain of A per cent over April,
1890, which month gained 1871 per cent over
April, 1889. For four months ending April
80 the earnings of 40 companies were
S142, 175, ,291, gain of 6.2 per cent, as COM
pared with a gain in April, 1890, over 1889,
of more than II per cent
Bank clearings at SO cities for the week
ended May IA amount to 81, ,183, ,657 ,416,
decrease from last year of LII per cent. At
81 cities-New York's total excluded-a de-
crease of As per cent is shown. There is
also heavy decline this week compared
with last, due to decrease at New York of
$50, 100000, Boston S15, 300, 900, Chicago
SIG, 700, 600, Philadelphia SIC, 200, 600, and at
Minneapolis "a, 100000 Stock speculation
has been depressed in tone by foreign com
plications and gold shipments, but displays
nevertheless certain amount of resistance
to the unfavorable pressure.
Range of Wheat Prices.
Wheat prices have been lower and higher
and exports have slackened /, ,941, ,337 bush
els for the week, mainly from the Pacific
coast, where shipments are not likely to be
free again until after the new crop comes in
Wheat crop reports are excellent throughout
the country, but for years have uniformly
lost in condition between April and July
from to s per cent. The prospect, there
fore, is for harvest Of more than SOC, ,OO0, 900
bushels, although some have estimated the
probable output at from SIG, 900, 900 to 55O,-
600, 900 bushels. If exports continue for six
weeks at little less than the present rate,
the United States will have sent abroad in
1890-91 Exclusive of Canadian shipments)
about 96,000,000 bushels Of wheat (and flour
as wheat, as compared with nearly 105, ,000,-
900 bushels in 1SS9-90, and with nearly &c.
000, 900 bushels in 1SS8-S9
General trade in the Dominion of Canada
is quiet. There is only fair demand for
drygoods from jobbers in Ontario. In the
Province of Quebec trade is said to be dull,
without immediate prospect Of marked i'm
provement. Collections are slow. The
Dominion reports 80 business failures this
week against 81 last week and 16 this week
last year. The total number January to
date is S07 against TAO last year.
Dun's Weekly Review.
R. G. Dun & Co.'S weekly review says:
Tn, @ho + ;c e.
able excepting the large exports of gold and
the advance in Bank of England rates to
per cent obviously for the purpose of draw
ing more gold from this country. The re-
ceipts for customs duties at New York are
largely in silver certificates and new Treas
ury notes, no less than 641x per cent for the
first ten days of May, but it is proper to
remember that the new Treasury notes |
being redeemable Gin gold or silver COIN
with provision of the law empowering the |
Secretary to maintain the purity of gold |
and silver paper and coin are in practice |
redeemable in gold and in value equal to |
greenbacks.
1t is most favorable symptom that the |
this market 1t is significant fact that |
the exports in April were about double last |
years in value as to cotton, and showed an !
increase in oil and provisions, but decrease |
in cattle and in breadstuffs. Yet In bread |
'tutfs the decrease was wholly in corn, and |
jhe surplus of wheat available for export |
was, May 1, about 30,000000 bushels. The |
exports of wheat from Atlantic ports have
1een much smaller than a year ago, until
asst week, when an increase of 10 per cent
appears. In corn the decrease is heavy, of
course.
The Speculative Markets.
The speculative markets have acted
peculiarly during the past week, wheat ad-
vancing cents per bushel on reports not
ubstantiated of injury to the crops in the
orthwest, while corn has declined cents
md oats 21% cents on moderate sales. Pork,
ard and hogs are lower and a heavy decline
ppears in butter. Cotton, coffee and
III are unchanged, and this is the more re-
as to cotton because much the
argest crop ever produced is going to mar
,et more rapidly than ever before at this
eason. The foreign manufacturers appear
o be laying in a large stock because prices
re close to the lowest known for 40 years,
Thile the consumption abroad is enormous, |
nd there are some signs that the production
f goods exceeds the demand.
Reports from other cities show moder-
tie distribution at Boston with easy money.
lumber is more active and expected to rise
Mess strikes prevent. At Philadelphia
ombing wool is in fair demand, and knit
oods works full of orders, but the drygoods
rade is limited. Bessemer iron is little |
lore active at steady prices at Pitts
urg, and glass fairly active. Trade
only fair at Cleveland and Detroit,
elped by activity in building at
lansas City, but at Milwaukee and st.
'au1 tho naa6 af faip for or0rs is foIf Hbs 4