Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-04-04
No Increase in the Distribution of
Merchandise Is Noted.
FAILURES FEWER BUT HEAVIER.
Riots In the Coke Region Complicate the
Iron Situation.
WHEAT NOW MORE FREELY EXPORTED

West and Northwest and high water in the
Mississippi Valley are given as reasons why
spring trade continues slow and disappoint-
Ing. Cattle and hogs have been in relatively
slow receipt at Western markets. and prices
are firm, with an upward tendency. Hides
are dull and heavy East and West, but lum-
Der is in better request with lighter prices.
The regular drygoods demand is light and
disappointing. Cotton is dull and un-
changed in face of an unprecedented crop
movement and good weather for planting
preparations.
All imported sugar below No. 16 became
free of duty this week, resulting in decline
at wholesale of ~ cents for refined and ~
cents for raw. The demand for refined has
been very large, and the cheapening is ex-
pected to result In increased consumption.
Money Rates Materially Stifened.
The demand for funds to meet quarterly
payments of interest and dividends had the
expected effect OF stifening loan rates at
Eastern money centers. Mercantile collec-
tions generally are slow and unsatisfactory.
Bank clearings continue to fall behind last
years totals, decreases now being more nu-
merous and of larger volume than in Febru-
ary. The total bank clearings at 56 cities
In March were "a, 229, 900, 000 a decline of
9 per cent from March, $780, At New York
City the decrease was 1873 per cent, and at
other cities 3.3 per cent. The total clear
ings at 40 cities for three months were S12,-
927, ,2S5 900, decline of s.S per cent from
last year.
Stock speculation is stagnant, though the
crop prospects seem to maintain railroad
share values. in the face of European lndif-
ference, gold exports, generally poor rail
road earnings and other immediate unfavor-
able influences. The only active feature of
the market is Sugar shares, which have en-
joved 10 per cent rise.
New Complication In the Coke Strike. !:
The coke strike has been complicated by
rioting on the part of some of the operatives.
The recently impending general strike
among Pennsylvania coal miners is to be
held off for few weeks to aid the Connells-
vile struggle. Iron makers lind an ad-
vance out of the question for this spring.
and steel rail makers appear to be satisfied
with maintaining prices at $50 at the mill.
Anthracite coal mas been cut in price 100
low expectations.
The total number OF failures in the United
States for the past quarter did not equal
those for like period in 1885 or 1889, but
the aggregate of liabilities were the heaviest
on record, increasing 80 per cent over 1890.
There were 81 failures this year with liza
bilities of S100, 900 and over, against only
81 in the corresponding three months of
1890, accounting for four-ffths of the
excess of total liabilities of all failures.
Business failures in the United States num-
Der PIG, against 200 last week and 152 this
week last year. The total from January 1
to date is 8, ,54S against 3,50S last year.
The Movement of Wheat Abroad.
The exports of wheat, both coasts (and
-four as wheat), equaled 2, 2,164,188 bushels
this week, compared with !, ,820, 977 bushels
last week and ,521, ,s96 bushels in the open
ing week of April, 1890. The total exports
Excluding MontreaD from July l to date
are u, 9S2, 4s9 bushels, against 50, 1850, 900
bushels in like portion of 18S9-90; Ga, ,042,-
943 in 1S8S-S9, and 101, $50, 657 bushels in a
like portion of 1888. The available stocks
of wheat throughout the United States and
Canada equaled Al, ,636, 145 bushels on April
l, or 2,217, 900 bushels more than one year
ago, and 5.S31, 900 bushels more than two
years ago. For the past quarter available
stocks have decreased only G, ,985, 900 bushels,
about one-half of the decrease in the like
quarter in each of the three preceding years.
In Ontario fall wheat promises well.
General trade is slightly improved and
prices firm. In Quebec no special activity
is expected until after the opening of navi-
CATION. Collections are slow. The Dominion
reports sc business failures this week,
against Al last week and 25 this week last
year. The total number from January to
date is 596 against $40 last year.
Collections Are Very Difficult.
stR. G. Dun & Co. s weekly review saws:
The actual condition of business does not
improve, however hopeful the anticipations.
The interests of property in many forms are
for the time affected, and meanwhile the
usual demand for money in April settle
ments has made the market rather closer,
though a speedy relaxation is expected.
Nearly all the interior money markets are
quiet ana comparatively easy. Omaha and
Cincinnati note little closeness, and there
is good demand at Chicago and Cleveland.
Collections are quite generally slow and un-
satisfactory, improvement being noted hardly
anywhere, bat the state of roads is usually
recognized as prominent cause.
Trade at Boston has been quiet. The
movement of mems woolens is unsatis-
factory. Philadelphia notes slow collec-
tions in most lines. Pittsburg notes no i'm
portant change, and Cleveland only fair
trade, with Cincinnati, Louisville, st. Louis
and Kansas City in the same condition.
Reports From Western Points.
At Peoria local trade is below last years
and collections very dull, but makers and
jobbers of implements note excellent pros
poets, sales exceeding last years with fair
collections Chicago observes an increase
over last year in receipts of grain and
cheese, and 30 per cent in wool, no change |
in cured meats and hides. and decrease in |
beef. Merchandise moves more slowly than a |
few weeks ago on account of bad roads. |
Memphis finds trade not yet near the |
normal, but at Atlanta 1t is improving, and |
at New Orleans, where sugar is active at |
lower prices, rice is scarce and cotton quiet. |
Bad weather affects trade at Montgomery, |
and at jackson vile there are fears of disas-
trous spring and summer trade.
Iron does not mend at all, for consumers
are waiting in the confidence that strikes |
will soon end. The lowest prices on record |
are made by some works for bar iron, and |
structural moves slowly, while wrought |
pipe is terribly demoralized. Pig iron is
duller than for years and buyers generally |
hold off as to rails, disliking to help the |
combination. Coal is fiat, official prices
being about Is cents aboye last year, but
with some cutting.
Copper, woolens, Boots and Shoes.
A better tone is seen in copper, and specu-
lation has advanced tin and lead a shade.
The wooIen manufacture is doing fairly,
but reports from the West are that growers
look for high prices on the new clip of wool,
the nresent market for goods does mot |