Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-27
A SLOW IMPROVEMENT
Noted in the Weeks State of Trade
by Bradstreet's and Dun.
IRON TRAFFIC GROWING BETTER.
A Steady but Not Panicky Decline in
All Grain and Produce.
FRESH GOLD SHIPMENTS TO EUROPE

|
New YORK, June 26.-With few excep-
tions telegrams to BradStree's from the more
important trade centers report continu-
ance of midsummer quiet in general trade
circles. Chicago, st. Louis, st. Paul and
Omaha are the noteworthy exceptions, hard
ware, clothing, notions, nails, wire and
some lines of drygoods showing the effects
of an enlarged demand. Elsewhere dull
ness and Quiet are conspicuous in leading
lines, notably at Boston, New York, Phila-
delphia. Baltimore, New Orleans, Memphis
and San Francisco. Kansas City announces
a fair trade with collections slow.
More Southern iron furnaces in blast have
depressed pig iron prices East. Lumber
stocks tend to increase at all centers, and
prices are heavy. Produce prices generally
are lower, except for potatoes. Leather is
heavier, particularly at Boston, owing to
failures of importance. Notwithstanding a
fair demand for boots and shoes, Eastern
makers stocks are increasing. The COlum-
bia river salmon pack promises to be quite
short.
The Weather an Important Factor.
A severe storm throughout the North
| western States has done much damage.
Rains at the South have helped all the
crops. Rubber is higher, as is sugar. Cof-
fee promises to be if recent short crop re-
ports from Brazil are confirmed.
Omaha fat cattle are higher, and other
grades, as we'll as hogs, lower in price.
Cattle at st. Louis are lower on full re-
ceipts, while at Kansas City cattle and hogs
are higher on light receipts.
Business failures in the United States
number 227, against 230 last week and 165
this week last year The total from Janu-
ary 1 to date is 5,957, against ., 400 last year.
Bank clearings at 5S cities for the week
ended June 25 amount to S940, 900, ,53S, de-
crease from this week last year of 16.5 per
cent. AT 81 cities, New York's total ex-
cluded, decrease of g. per cent is shown.
The deavv decline, as compared with the
week last wear, is due to decrease at New
York of S144, S9S, 900, at Boston of S17, ,600,-
600, at Philadelphia of SIS, 600, 900, at Chi
cago of s., 100000.
Contrary Forces at Work in Stocks.
Stock speculation at New York is at
stardstill, although the renewal of heavy
gold exports, amounting to S5,000,0 600 for
the week, causes further declines in prices
and overcomes the favorable influence of the
crop prospects.
Drygoods generally are quiet at first
hands, but fall styles of prints and ginghams
are moving freely. The seasons clearing
out sales by jobbers prior to stocktaking are
of large volume, and price concessions are
feature. Raw cotton is unchanged in price.
though there are better foreign advices and
some investment buying Wool is in slow
SALE Ohio and Michigan are not in active
demand, and prices tend downward. Ohio
and Pennsylvania X is ~ cents lower than
on July 1, 1890, and &c lower than January
/, 1891. Australian wool is selling fairly
well.
Exports of wheat, including -four as
wheat, both coasts of the United States, for
81 weeks, as reported to Bradstreet'S, equal
9S, 253, ,070 barrels. In 1889-90 the aggre-
gate of exports reported to this journal was
4 per cent less than the official total; IN
1S8S-S9 it was 2 per cent smaller, but in
1SS7-SS it was practically the same.
The Prospects in Stocks of Wheat.
Allowing the aggregate given above to be
per cent less than the quantity actually
sent abroad, the prospect is for total of
abou; 102, 600, 600 bushels of wheat includ-
ing flour as wheat, exported within the II
months, against (official) 1O9, ,43O, 900 BUSH
els in 1SS9-90; IS, 900, 900 bushels in 1883,
anu 1lS,OlO,UUU DusuelS Ill 10000.
The price of wheat has tended downward
during the week, under the press of favor
able crop reports, smaller foreign takings
and reduced speculative demand at home.
New wheat is coming forward freely in Cal
ifornia, and exports from San Francisco
have declined two-thirds in volume while
those from the North Pacific Coast ports
have decreased about one-half. For this
reason available stocks on the Pacific Coast
increased last week
In the Canadian Dominion tariff changes,
though not unexpected, have proved the
feature, granulated sugar prices being &c
lower; tobacco &c higher, and liquor prices
also higher Wholesale dealers in sugar
report a brisk trade. Crop prospects are
excellent. In Manitoba the wheat acreage
is 40, 900 acres larger than last year. Fully
$50 miles of railway are under construc-
tion in Manitoba and the Northwest Terri
tory. The Dominion reports 81 business
failures this week, against q last week and
II this week last year. The total number
from January to date is 969, against 800
last year.
r. G. Dun Takes a Hopeful View.
r. G. Dun & Co.'s weekly review will
say: Signs of improvement in business grow
more frequent and distinct, though there is
nothing like radical change as yet. The
hesitation which has prevailed during the
year gives way but slowly to increased con-
fidence, the more slowly because of a few
failures in woolens at Philadelphia, and in
leather and shoes in the East. Yet the
soundness of the commercial situation is
generally recognized, and the hesitation
which remains is rightly attributed mainly
to uncertainties regarding the demand for
gold from Europe and the financial situa-
tlon there. Hence, dispatches announcing
the settlement of difficulties which have
been hanging over the London market, and
which were supposed to affect one or more
houses having large interests in this coun-
try, are regarded with satisfaction. While
| gold continues to leave England for Russia,
the banking institutions of Western Europe
are well supplied, and in this country Treas
ury disbursements have been enormous.
The one point of danger is still the exceed
/ ingly strained condition of credits abroad
on account of past disastrous speculations
A Fair Report From Pittsburg.
The reports from other cites are, on the
whole, more encouraging than a week ago.
Failures have created surprise at Boston
and delay. confidence. At Pittsburg Besse-
mer products are somewhat more active and
the trade in glass fairly good Trade i'm
! proves at Cleveland and fall orders are very
fair and manufacturers busy at Cincinnati.
| AT Chicago trade in drygOods clothing and