Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-18
FAIR FOR THE SEASON.
A Somewhat Better Report of Trade
by BradStreet and Dun.
BIG INCREASE IN IRON OUTPUT.
Prospects for General Business More Hope.
full All Around.
A COLLAPSE IN WHEAT SPECULATION

to BradHrest'S s from leading trade centers
those from Boston and Minneapolis are re-
markable for reporting increased activity
in several lines. The boot and shoe fac
tories have resumed full time, purchases
of leather are freer, wool is rather more ac-
tive and there is better request for woolen
goods.
Wool markets at Philadelphia, Cincin-
natl and ST. Louis show no signs OF re-
vival, and wooden goods mills at Phlladei-
phia report no Improvement. Elsewhere
the wholesale trade in general is fair for the
season, without being brisk. An exception
may be made of San Francisco, where a
verv active export trade with the west
coast of South America has sprung up,
owing to Chile's inability TO supply the
usual quantity of wheat and provisions for
export Estimates are made that this trade
will aggregate 81, 100000 within few
weeks
The State of General Merchandise.
Sugar is stronger and Lice higher for
granulated Drugs at wholesale are slow OF
movement and low in price. Hides and
lumber continue quiet, as do iron and coal
Prices of the latter are being openly cut,
and sales Of pig iron, excepting best grades,
have been shaded. Sales of Southern iron
have been made at very low figures. The
output of pig iron increased heavily during
June. about "a, OO0 tons weekly.
Business failures in the United States
number 262. against 22S last week, and lol
this week last wear The total from JAN
uarv l to date is 6,665, against 5,oS3 last
year.
Crop reports continue uniformly tavora-
able as to wheat, sugar, rice and cotton
Corn, too, has improved in Iowa. Texas
wheat is accommodating at New Orleans ana
20 vessels have been chartered there TO load
wheat within 60 days.
Mercantile collections at Duluth, Min
neapolis, St. Paul, Chicago, Milwaukee,
Omaha, Lincoln, ST. Joseph, Kansas City,
and ST. Louis are notably slow, owing to
the activity Of work on the farms.
Receipts of live cattle at some Western
centers are lighter. and prices higher: and
other quotations are steady There is
tendenov reported at Northwestern and
Western cities to scrutinize credits and to
curtail time on which goods are sold.
Sameness in the Exports of Wheat.
For the third week in succession the total
~
coasts Of the United States, including -four
gs wheat. has amounted TO about 2,22O, 900
bushels IN the second week of July, 1880,
The total was nearly 1900, 600, and in the
like weeks in July. 1889 and 1888, nearly
!, 800, 600 each. Available stocks OF wheat,
both coasts, have been declining on the
average about 100000 bushels weekly
since July l. Doubt is expressed as TO any
considerable direct export TO Europe OF
wheat from Duluth or other Western lake
ports in the near future, the total thus lar
aggreCating 10000 bushels.
Bank cIeariugs at IS cities for the week
ended july Is amount to 81, ,009, 023, 1Sl,
decrease from the like week of last year Of
li.S per cent At 81 cities, New York's
total excluded, decrease of Al per cent Is
shown. New York city's total decreased
$4,000 600, and Philadelphia, 800, 900,
as compared with the week year ago.
Continued Dizziness in Wall Street.
Stock speculation is at a standstilL The
customary summer Guliness is aggravated
bv caution as to the future of the money
market While call money is superabun-
daur at . per cent, time loans for SIX months
command per cent, indicative of appre-
lepsion of higher rates when the West calls
Tor money to aid the crop movement Share
values. IN the abseno. of activity, tend to
decline slightly though supported by the
generally favorable outlook for the rail
roads The Western Traffic Association
met this week, but did nothing, and post
pone6 consideration of the joint agency
scheme till October Foreign exchange is
weaker under pressure Of approaching
grain exports Nevertheless, S30G,OO0 in
cold was taken for Europe to-day on a
special transaction.
New England textile industries are de-
pressed. owing to restricted domestic de-
mand, enlarged production and large stocks.
Export demand is good. Print cloths are
most depressed. Woolen goods are dull
and accumulating Cotton manufacturers
IN 1891 and 1890 did not do as well as in the
previous three years.
Net railway earnings for May show the
first monthly decrease reported this year,
both gross and net declining 3. per cent COM
nqred with May, 1890, owing to there being
one business day less in May this year and
the generally depressed condition of trade.
Last Years Railroad Earnings Compared.
Nav last wear showed the largest gain In
net earnings OF any month for two years
Drsvious. The total net earnings of III
roads for MAY were S16, ,420, APO, decrease
of 81 per cent, while the gross fell off 35
per cent Central Western trunk lines,
Southern, Southwestern and Pacific roads
all showed decreases in net, but none in ex-
cess of s per cent. Net earnings for five
months BIZ 113 companies aggregate S73,-
369. .O33. a gain of S.4 per cent The gain in
gross was only IL per cent. The Changers,
Central Westerns, trunk lines and South
western roads show decreases for five
months from the corresponding months of
1890. The large gain on the Pacific roads
alone more than accounts for the entire Get
gain.
General trade throughout the Canadian
Dominion presents few new features. Dry
goods are fairly active in Ontario, and also
groceries in Quebec. At Montreal ocean
freignis are active. Crop prospects gener-
allv are excellent. The Dominion reports
30 business failures this week, against 80
last week and q this week last year. The
total number from January 1 to date is
l,OT6, against 926 last year.
Business Growing More Active.
R. G. Dun & Co.'S weekly review says:
Business clearly grows somewhat more ac-
five. though midsummer dullness is still the
rule At Eastern cities there is noticed
more demand for manufactured goods, with
larger sales for materials. AT the West
trade is enlivened by the large yield of
winter wheat already harvested, and by the
very bright outlook for other crops. At the
South, however, though crop adyices are
also favorable. no improvement appears in
business, which is duller than usual even for
the season. and at some points is pronounced
quite unsatisfactory.
The general confidence is strengthened by
the financial news from Europe, which in
dicates that the disturbance of the money
markets from that quarter need not be