Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-03
DECEMBER, 1890, A BAD MONTH.
ALARGE VOLUME OF BUSINESS IN 1890.
The Weeks Trade Reports From the Various Cities Are
Fairly Satisfactory.


TO BrddStreetS report quiet week, SO lar as
the distribution of general merchandise is
concerned, as was expected during that par
ticular week. Stock taking is still con-
spicuous feature. The weather has been
generally unfavorable. and reports are re-
ceived of waiting attitude on the part of
buyers and sellers.
At Boston there has been a freer move
ment in all lines, that city proving an ex-
ception to the general rule. Even wool is
Hsid to be stronger, both at Boston and
Philadelphia. Rubber is up 13c per pound,
owing to Brazilian speculation, and leather
is recovering, with splits &c higher. Butter,
eggs and potatoes are all frmer and higher
in price.
Wheat is frmer and has advanced one
cent in spite of the unprecedented increase
Of nearly 1000, 900 bushels in available
stocks for the week ending December %,
and larger stocks afoat for Europe and at
United Kingdom ports.
Wheat and Flour Exports Smaller.
Hogs, too. are higher at Western markets
on a more active demand. Iron is as weak
as heretofore and coal prices are unchanged.
Exports of wheat and -four from both coasts
of the United States for the past week equal
a,031, 900 bushels. against 1, ,431 1868 bushels
LAST week and 1,S9s, ,054 bushels in the like
week oi 1SS9-90.
The bank clearings for 1890 at 81 cities in
the United States, as reported in Brad
streets, aggregate S59, 5S5, ,636 ass, or 6.7 per
cent more than in 1889, q per cent more than
IN 1888 AMI Is per ceut more than in 1887.
70 g A,n
clearings for 1890 was S37, ASS, 607, sos, or 63
per cent OF the whole, showing a gain for
the metropolis over its total in 1889 of 43 per
cent, or 20 per cent over1SSS and II per cent
over 1887; the relatively more rapid growth
OF bank clearings at other cities is shown by
The fact that al Sc cities, exclusive of New
York, the aggregate ior 1890 was S22, 127.-
o2S,S50, or ia per cent more than in 1889,
22.3 per cent more than in 1888 and 25 per
cent In excess of the total in 1887.
An Interrupted Financial Market.
Business in Wall street was light during
the interrupted week, but prices tended to
advance and both activity and strength
were shown at the close of the week. Money
is easier. without being in specially active
demand. Rates on call have ranged from
to s per cent, and on time to 613. Cold
weather has stimulated an advance in the
anthracite carriers shares.
The total number of failures in the United
States in 1890 was 10, 673 or 9 per cent less
than were reported to BrddStreet'S in 1889
and only little in excess of the total of 1888,
prior TO the panic year, 1884. Gross assets
and liabilities in 1890 are about equal to
those in 1888, but are 80 per cent
and 247 per cent heavier respect
Gus failures last year were among private
bankers and State banks, of which
there were 30, with nearly SIS, 900 gross
liabilities. Next in order came 25 textile
(mainly wooden and cotton) manu- facturess
with nearly 100000 liabilities. lumber
dealers being third in order Q4) with
nearly SS,000,000 Liabilities.
December Was a Bad Month.
There were 1874 failures in the country in
1890 A of them in December, with liabili-
ties in each instance OF 500, 900 or more
an unusually large number. their total
liabilities being nearly SO, ,0OO,000
Drygoods generally are quiet The only
exception is found in clearing-out sales bv
tobbers, prior to the semi-annual inventories
Prices are unchanged in the regular way
Wool opens the new year in good shape
following the December improvement.
Stocks are lighter than year ago, and
prices are tlrm. The general tone is one of
confidence. Cotton is &c higher on bullish
Liverpool adyices, which indicate lack of
confidence in maximum estimates, in spite
OF continued iull crop movement.
K. g. Dun & Co.'S weekly review saws:
The new year opens with so much of un-
certainty that there is a natural disposition
TO dwell upon the crowdirg records of the
year jus! closed, which show an extraordi-
nary volume of business, in many lines sur
passing all precedent Iron, cotton, leather,
boot and shoe and meat production were
larger than IN any previous year.
Large Volume of Business.
Thus, 2,219, ,312 cattle were slaughtered at
Chicago, against !, ,763, $40 in 1889, gain of
25 per cent, and 5,7S3,OS2 hogs, against A.
I'll, ,I67 in 1889. gain of Sc per cent. At
Boston, 1886, 211 cases OF boots ami shoes
were shipped, against 3399.9S a gain of
4 per cent. The clearing house exchanges
show that the volume of all business in 1890
exceeded that of any previous year by at
least 10 per cent, though in part this in
crease was due to the higher range of prices
during the greater part of the year.
The advance in prices of all commodities,
compared with year ago, is &c per cent.
and the average has been about So per cent
higher for eight months. But this unpre-
cedented volume of business has not been
altogether successful, and the recorded fail
ures have been In number and in amount of
liabilities larger than in any previous year
since 1884
What the Failure Figures Show.
Though in number only a trife greater
than in 1889, the average of liabilities was
S17, 4O6 for the year, against S13, ,672 the year
before. Moreover, the average OF liabilities
for the last quarter was greater than in anv
other fourth quarter on record, namely.
SIG, 7S4, against s14, 9O7 in 1882
The reports from other cities are almost
uniformly confident in tone. and indicate
good volume and fair condition of trade
for the season, but are liable to be colored
by the retrospect of generally prosperous
year. The South rejoices in great crops
and wonderful manufacturing growth. and
for the moment notes less financial pressure,
good holiday trade and bright hopes. ST.
Louis has weather more favorable for dis
trIbution, and money at to per cent.
Kansas City notes strong demand for money.
and receipts of Il, 900 cattle; 5000 hogs,
and st. Joseph reports large increase in
the years trade and care in credits result
ing well.
Trade in Western Cities
At Milwaukee and St. Paul unreasonable
weather has affected trade for the week, but
very satisfactory reports are made for the
past year, and money is easier. At Chi
cago, though money is close, confidence
rapidly revives and collections are easv.
The years trade exceeds by per cent that
of 1889 in general merchandise, drygoods
and shorts, somewhat more IN clothing, 20
per cent in furniture and 38 per cent in
some other lines, while the increase in prod
nets Of factories is S25, ,0O0 600.
At Cleveland johbers are surpr Sc at lie
fullness of collections. but % iron furnaces