Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-07
THE ONE BIG EVENT.
That Marks the Commercial History
of the Past Week Was the
MAVERICK FAILURE AT BOSTON.
No Real Marked Change in the State Of
Trade for Some Time.
WHAT BRADSTREETS AND R. G. DUN SAY
ESPECIAL TELEGRAM TO THE DISPATCH, ,

public in these columns during two preced-
ing weeks, notwithstanding unduly opti-
mistic misgivings from other sources
Advices from Memphis, New Orleans and
Atlanta are of improving tendency in gen.
eral trade, although Baltimore, where Job
bers feel the pulse of almost all Southern
mercantile communities, reports business
dull, with almost unbroken stocks Of dry
goods, notions and clothing; only fair trade
in boots and shoes and groceries and quite
slow collections, owing to low prices for
cotton and tendency to hold it for an ad-
vance Few Southern discounts are being
made and extensions are more freely asked.
AT New Orleans general trade is still inter
fered with by low water in the Mississippi
Galveston wires that low prices for cotton
have tended to retard all lines of business.
The State Of Trade in the East.
At Boston, New York, Philadelphia,
Pittsburg and Cincinnati reports are, in the
main, far from buoyant, although at all
points the outlook is regarded as good
Fall trade has ended and holiday activity
has begun.
n.Leather and hides are very dull, but rub
Der is excited and higher on fumors of po-
litical trouble in Brazil, and manufacturers
are running at full capacity. This is be-
tween seasons for woolen manufacturers,
but the outlook for next spring is declared
good.
The volume of drygoods sales has de-
creased. All lines of low-grade cottons are
affected by the weakness of prices, which
are off q cent on increasing stocks. Spring
dress goods are in fair demand. Wool is
quiet and lower and cotton is Is cent off on
heavy crop movement
Refined sugar price have been cut 1-16
cent, but raw is still firm.
At the West there is relatively less COM
plant. Chicago admits smaller volume
but claims to exceed late weeks in few
lines. st. Paul, Minneapolis, Milwaukee,
Omaha, Kansas City and st. Louis make
like reports, but most of them admit a
notable decline in volume of trade within
three weeks
Farm Products at Western Points.
Receipts of all grains, except wheat, have
increased, and provisions are irregular with
a weakening tendency, except for lard at
Cincinnati. Live cattle are of slow sale
and firm only for best grades. Live hogs
are about 8 cents lower.
The feature at San Francisco is a heavy
advance in wheat prices and decline in
grain freight rates to the United Kingdom,
coincident with heavy arrivals of tonnage.
Stocks are decreasing under freer export
movement and restricted shipments from the
interior. Mercantile collections are quite
irregular, and average slow and unsatisfac-
tory oftener than otherwise, as far as re-
ported. g
Business failures in the United States
number 238, against 205 last week and 151
this week last year. The total from Janu-
airy to date is 10,121, against S,5O2 last
year.
The New York share market has been de-
pressed by liquidation, due to the bank fail
there. This created some pressure in the
New York money market Rumored fnan-
cisl disturbance at Paris also exerts a de-
pressing influence, and the market has been
subject to bearish manipulation.
But Little Life in Speculation.
While increases in the gross earnings OF
certain railroads and the declaration of the
Pennsylvania dividend on q per cent basis
are favorably regarded, the speculative
temper is dormant. Foreign exchange is
higher in sympathy with the condition of
money markets abroad, but small amounts
of gold continue to come this way.
Bank clearing totals for October are not
satisfactory, being 60 per cent smaller than
in October, 1890. Total clearings of Al cities
for October amounted to S., 361, 596, ,041.
New York City's clearings fell off 10 per
cent, and at cities other than New York the
decline of the total was 81 per cent. For
ten months the clearings total is S44, ,4S3,-
925, ,647, a decline of S.S per cent from the
ten months of 1880.
Exports of wheat from the United States,
both coasts, this week aggregate $500, 900
bushels, nearly 200 bushels more than
last week, due largely to Pacific coast
shipments. The weekly average is still
about twice the average one and two years
ago, and more than three times that in 1888
and 1887. Total exports for 10 weeks to
November g. equal 77,376,0O0 bushels,
against 34975 900 bushels, Montreal in
cluded, in like portion of 1890; Sc, ,543, 900
bushels in 1889; 40, 366, 600 bushels in 1888,
and as compared with 5s, Ss3, 900 bushels in
1887.
Stores of Wheat Available and Afloat.
Special cable and telegraphic advices
enable BradStreet's to point out that the
total stocks of wheat available, United
States and Canada, afoat for and available
in Europe November 1, were 1924, 900 BUSH
els larger than on October 1 last, A. 491, 900
bushels larger than on November 1, 1890,
and "a, 523, 900 bushels larger than on No
vember 1, 1889. European and afloat stocks
alone on the LIST inst. were q, 704, 900 BUSH
els larger than on November l. 1890, and
II ,544, 900 bushels heavier than on Novem-
ber 1, 1889. In the United States and Can
ada stocks November 1 were 1900, 900
bushels larger than one year ago, and 7,0OO,-
900 bushels more than two years ago.
r. G. Dun & Co. s review will say: The
failure of a widely-know1 bank at Boston
was the striking event of the week, but has
caused astonishment rather than disturb
ance. Withdrawal of money from this
point to fortify Boston has caused higher
rates. Crops are moving freely, so that it
seems scarcely possible that any important
disturbance should arise at pres
ent. Reports from all parts of the country
show that business, though interrupted
somewhat by the elections, has been healthy
and large in volume.
Oil, pork products and hogs are some
what lower, but coffee is half cent higher.
The general average of prices is q shade
lower for the week and the markets are less !
than usual by cliques main
tanning artificial prices.
In the main labor is we'll employed, with |
few controversies about wages. Throughout !
,he country collections seem to be fair for |
,he season, and on the whole gradually i'm !
proving.
Bradstreets Table of Bank Clearings.
fNIv l-11 IL