Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-08
Recovered this year
Dropped during Re
panic, 1850. 6

In contrast to the stock and the money
market, there is much to be found OF in
terrsJ in relation TO improved prospects of
the state of trade. Out of "a stable products,
il viii be found that II have increased in
price within the last few days or exhibit a
marked tendency TO increase, ten have
not increased, show a tendency TO decrease
or have decreased, and that three remain
firm and unchanged. Among those which
have increased are wheat, corn, oats, beef,
pork and potatoes; while among those which
have declined are iron, rails, copper, lead and
anthracite coal from the leading class One
textile is advanced, that is, raw wool, and
manufactured iron at Pittsburg, the latter
most significant circumstance and one
which, if it continues, will have marked
influence upon metal prices generally Both
metals and hides are stronger, while crude
rubber under control of a syndicate, is sell
ing freely to manufacturers who no longer
hope that prices will decline in the near
future. Prices have declined for raw cot
ton and print cloths.
BUILDING OPERATIONS SLOW,
Building operations are restricted both
East and West, and prices refuse to ad-
vance. Prices are unchanged for to-
bacco and woolen cloths. Prices of sugar,
being subject to control by a sugar trust,
Rnd the so-called sugar king, Claus Spreck-
els, have declined rapidly, owing to COM
petition between the sugar magnates. Here,
at least, there is a majority of leading sta
pies advanced in price, or exhibiting
marked tendency to do so, followed
by the tacr that leading railroad shares have
for the second time within the year touched
as low point as during the semi-panic of
October ana December 1890.
In this one finds almost a complete par
allel o. the periods preceding the boom of
1SI9-1S82 and 18S7-1890 The Question there
fore arises whether the inference is NOT a
falz one that the latter half of 1891 will
bring with IL a healthful increase in the
genera volume of business 1t is n some
what trlte saying, of course, that the basis
OF this improvement, if it comes, will be
the large wheat crop of the United States.
crop which promises to exceed that of any
preceding year in this country.
Recent advices from Europe, and which
are as yet unpublished in this country.
point out the fact that Europe will require
to import not less than 261 ,000, 900 bushels
more than it produces. India at best can
only furnish 33, 600, 900 bushels for export.
and we will say that the United States NAV
have a surplus of exports of 100, 900, 600
bushels-20O 900 bushels of which will
probably be sent elsewhere than to Europe
A BIG WHEAT DEMAND.
This indicates that at best Europe will
demand 100,0O0,000 from countries other
than the United States and India, such as
Australia, Chile, the Argentine Republic,
Asia Minor and Canada, and the question
arises, how much of an advantage in the
prices viii such asituation as this offer to the
United States? 1t should be added that the
rye crop of Germany and Russia is unprece-
deDtedly short, so much so that the prospect |
is that the poorer class of people in those |
countries Will be driven to use wheat -four |
foF bread, instead of rye, their staple food. |
Should this prove TO be true to the extent |
now reported and believed, it will mean |
that Europe must import a still larger |
amount OF wheat than the total in the fig |
ures given above.
IN short, the outlook is that, for the first |
time in history, the United States has an |
10 make the price of wheat for |
the world. With these fears characterizing