Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-01
DRAGGING AND DULL.
NoImpOrtantTrade Changes Reported
by Bradstreet and Dun.
IMPROVED DEMAND FOR STAPLES.
The Alliance Grain Circular Not Having
Complete Success.
EUROPE AND THE FINANCIAL MARKET
rsrEc1AL TELEGRAM TO THE D1sPATcH.1

NEW YORK, July 3l.-Special kilograms
TO BradStrcet's indicate a growing effect of
the increased demand in staple lines due to
anticipation of wants during the autumn,
chiefly for grain, provisions, boots and
shoes and groceries. There is also an i'm
proved request at the East for leather, En-
glish buyers having been taking with some
freedom, but hides have not recovered yet
from the late dullness. Makers of boots
and shoes report still better demand than
a week ago. Manufacturers of rubber at
last are buying raw material with some free
dom, though prices are higher.
Raw cotton is no stronger, though crop
reports at New Orleans are shade less
favorable. Domestic wool is in better re-
quest at the East. Sales at Western mar
kets are considerably heavier. Petroleum
is a shade higher, but lumber is as heavy as
ever Jobbers in drygoods report no in
crease in the demand or strength in prices,
bat 1t is still too early to note the effects of
the fall trade movement. Print cloths are
one-sixteenth cent lower.
THE ALLIANCE NOT IN IT.
Leading winter wheat markets report.
quite heavy receipts, in spite of the late
Alliance circular advising farmers to hold
for higher prices. Meats and other pro-
visions are generally firm, with an upward
tendency, and cattle and hog receipts at
Western centers being light, prices are
hi-her. Word comes from San Francisco
that Il. $50 bushels of wheat were shipped
10 sydney July "a and that the increased
Alaskan salmon pack viii probably offset
The decrease III the Columbia river pack.
Mercantile collections in the grain grow
ing country are beginning to improve,
which is quite encouraging in view OF the
demands for fuEds to move the crops. Sugar
is g lower on heavy receipts. Iron and
coal remain as dull, and the former as un-
profitable as in the past.
Business failures in the United States
number 200. against 252 last week and 131
this week last year. The total from Janu-
arv l to date is :, III, against $500 last year
Bank clearings at 5S cities for the week
ended July 80 amount to SS75, ,7S4, ,3O4, de-
crease from the like week last year of 126
per cent At 81 cities. New Nork's total
excluded. a decrease of Il per cent is shown
New York City's total decreased S106 $685.
0n0 as compared with the week a year ago.
Bank clearinCs for July at 16 cities aggre- |
gate 10 per cent less than in July, 1890, as
did the total for six months of 1891 as COIN |
pared with the first half OF 1890.
ALMOST A STOCK PANIC.
The declining tendency in the stock |
market has eliminated in a speculative |
Liquidation, prices Of some prominent shares |
falling below the panic level Disquieting |
hur uutounded rumors about the credit of
leading banking houses aided in nsettling
the market, while reports of trouble in
European financial circles were agaiu cur
rcut The finnness Of the time money
market. and the difficulty which corporations
and other large borrowers find in renewing
loans furnish a legitimate cause for the
movement, which is assisted by bear machin-
alton.
Railroad traffic is increasing. and current
earnings show Improvement, while gold eX-
lrUr-s have ceased and foreign exchange
tends to decline under the pressure of an
ticipGJed exports. The liquidation in stocks |
las partially extended to the bond market. [
Exports OF wheat, including flour, from
both coasts Of the United States this week, |
equal 9. l64 81 bushels, as compared with
weekly average of > 22j. 900 bushels in the
four weeks next preceding, and as compared
with 2.272, 600 bushels in the last week of
July. 1890, Montreal exports included, and
as contrasted with l.. .5.2 900 bushels in the
like week in 1889, and > pa. 900 bushels in
lN$S Galveston sends 80, 00n more bushels
abroad this week, and New York, Baltimore
and san Francisco each export in excess of
Uun.gjO bushels.
THE CASADIAN OUTLOOK.
The wheat crop outlook throughout the
Province Of Ontario is excellent, and the |
price Is about 80 cents a bushel General
trade there Is fair In Quebec the demand
for arygO0as, groceries and shoes is moder- |
a-c!y active. The Dominion reports 20
business failures this week, against 10 last
week and 26 this week last year. The total
number from January !, TO date is LII,
against go last year.
Z. q. Dun * Co. 5 weekly review will |
say: Business continues dragging and dull.
iu commercial circles there seems TO be
very general and growing confidence that
business viii be large and profitable, and
some improvement is seen, but not enough
as vet 10 Justify sanguine views.
Trade at the South is peculiarly de-
pressed because there is too much cotton
Again. in parts OF the West, where crops
failed last year, trade has not vet recovered
from the great depression resulting. As |
The corn crop is in doubt, a complete recov-
cry is not to be expected In several States
legislation hostile to capital causes much
disturbance. Further, the collapse of real
estate speculation in many parts Of the
West and South has brought .35gs4.a losses
and embarrassment - Ieany.
EUROPEAN INDUSTRIAL TROUBLES.
AZ the East monetary uncertainties have
q powerful influence. European difficulties
do not pass as quickly or fully as was ex-
pcCted and now serious financial trouble is
apprehended in Russia because of the failure
OF crops. which viii only help this country
in the end. There is a growing doubt
whether the movement of crops here will
not cause a temporary drain greater than the
Eastern money markets can meet. but if the
grain can be sold the gold will come. One
large financial institution has bought Eng
lish cJnsols TO a considerable amount, and
leading Trust Company is said to have S4,-
Coz 0uo of gold
Though no gold has been exported the
outco of currency to the West and South is
felt here and at Boston. Money is at close
NJ Butiolo and Cleveland; in active demand
al Chicago. Cincinnati and Detroit; firmer
at : to s per cent at St. Louis; in good supply
for legitimate business At Milwaukee, close
at Omaha, Nashville and Atlanta; light at
Jacksonville but easier at Savannah and in
fair supply at New Orleans.
REPORTS FROM BIG CITIES
Business at Boston has further improved
Hides are duh and domestic lower at the
West. Philadelphia notes more frequent
orders for wool and wOolens and improve
ment in the tobacco trade, and while money
is freely loaned on call time loans are al
most impossible 10 make. At Hartford and |
Buffalo trade is quiet, but the demand for
lumber improves. AT Pittsburg business
IS unchanged and rather slow; at Cleveland |
fairly good for the season, and at Cincin-
uari somewhat more active.
Chicago reports receipts OF wheat seven |
times last year 5; ofrye, cured meats, lard and