Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-12
Dun's Review of the State of Trade
Especially Optimistic.
BRADSTREETS REPORT GOOD TOO.
Iron One of the Leading Industries in the
Better Showing.
EXPORTS ARE RAPIDLY INCREASING
ESPECIAL TELEGRAM TO THE DIspATcH.l

OF so, l1uACdlS lIldb dl SulcdSOy
Duluth, Minneapolis, St. Paul, Omaha,
Kansas City, st. Louis and Cincinnati the
previously noted activity in the demand for
staple drygoods, footwear, hats, clothing,
general produce and fruit continues. Prices
naturally are fairly well maintained, as
well as for rubber, which manufacturers are
still buying freely; for lard and pork and
hogs, which have been in light receipt, and
tobacco, sugar, tea, and at some markets
lumber as we'll
Iron is steady, with the production a
shade heavier than a month ago, but simi-
larly less than one year ago. Significant
news of the week in this line is that at some
important markets, notably Philadelphia
and Cincinnati, merchant and manufactured
irons have sold shade higher under i'm
proved request.
COAL, WHEAT AND FLOUR.
Anthracite coal is barely steady, although
nominally higher, and with genuine restric-
tion Of production. Wheat and -four ex-
ports to China from San Francisco are con-
tinued. In the East flour prices are lower
with those for wheat.
Business failures in the United States
number 233, against 17S last week and 162
this week last year. The total from Janu-
airy 1 to date is S,326, against Z, 100 last
year.
The exports of wheat, including -four, for
the week from United States ports, aggre-
gated /, ,659, 232 bushels, or, including Mon
treal'S shipments, 5,047. .52S bushels. The
total from the United States last week was
bal, ,566 bushels. In the like week of 1890,
including Montreal, it was only 1, ,4S0,05S
bushels, and in 1889, excluding Montreal,
], 1,426, ,552 bushels; in 1888, 2739, 424 bushels,
and in 1887 it was 2,7S5, 100 bushels for the
week. For II weeks the aggregate, includ-
ing -four, exported excluding Montreal, is
IS, 551, 600 bushels; in 1890 it was %, ,G36,000
bushels. including Montreal; in 1889 it was
p, 146, 600 bushels; in 1888, q, 545, 900 bush
els, and in 1887, II, 4O2, 900 bushels. San
Francisco exporters expect to ship from
2,5O0,O to 100000 bushels of wheat a
month for the next eight months.
THE SPECULATIVE MARKETS
The decline in the price of wheat, which
has continued several weeks, shows signs of
being followed by reaction. Some news
papers interpret the last Government wheat
crop report as indicating a crop of 545,-
100000 bushels while others persist in the
Goo, 600, OOO-bushel theory.
Share speculation has been active and dis
PLAYS increased interest and support. The
market has, however, encountered pro-
fessionaI opposition to the continuance of
the rise, and the position of the Gould
party has not been altogether satisfactory
TO the bulls The buying movement was
shifted TO the Eanderbilts, the trunk lines
and the Coal stocks and Atchison, with
some of the specialties in which advances
have been general In spite of the ultra
favorable crop outlook and a general in
crease of traffic, the Granger stocks were |
subjected to reactionary tendencies, though |
the belief that the corn crop was safe caused |
2 rally at the close of the week.
THE FINANCIAL SITUATION.
The New York money market has been |
subject to some manipulation, call loans |
touching 6lJ1 per cent, though in spite of |
large shipments OF funds West the supply |
continues good. Foreign exchange has |
fallen l2G34 per cent, and reports of further |
gold shipments are current. Bonds con- |
tinue in increased demand, with activity |
aGd advances in lOw-prieed issues.
Bank cIearings at 5S cities for the week |
amount to S1,Gt9, 245, ,G91, a decrease from |
the week last year Of 5.6 per cent. AT 5S |
cities, New York total excluded, de- |
crease OF So per cent is shown. There were |
decreases at New York of SIS, ,790, 900, at |
Boston, 81, 100000, and at Philadelphia |
SIS, ,641 900, as compared with the week a |
year ago At Chicago the increase was
So. AIS, 600
Gross railway earnings in August show a |
smaller gain over that month, 1890, than do |
those for July. Grain carrying roads have
done best, Southern Pacific road earnings
not being so favorable. The total for 134
roads for August is SAC, ,S21, 1854, an excess
over August last year of per cent. The
trunk lines make the best exhibit The
gain in August last year over 1889 was 5
per cent. The gain in July this year over
last was SIS per cent. For eight months
gross earnings are 1924, 591 ,901, gain of 81
per cent over eight months last year.
A further improvement in demand and
price is noticeable in drygoods Jobbers
are active in nearly all departments Dress
goods are particularly active The demand
from agents is improved and prices are gen.
orally firm, with advances in low grade cot
tons and 1-16c in print cloths in sympathy |
with the recent gain in raw cotton prices.
Raw cotton is &c higher on bullish foreign
adYices.
R. C. DUN's OPTIMISTIC REVIEW.
R. G. Dun & Co.'s weekly review saws:
All returns of the condition of business are
encouraging There is no room for doubt
about the improvement in trade. From
nearly every city reporting comes the same
cheering information, that business is bet
ter and prospects brighter
AT Boston business is increasing At
Philadelphia the tone of the iron market
has much improved. Business is encourage
ing at Buffalo, decidedly improved at Gin
cinnaJi and Cleveland, and while it may not
be noted at Eastern points generally, some
improvement Is seen in collections. Re-
ceipts Of wheat at Chicago are five times
those of last year, of corn double, of rye
seven times, and of oats and dressed beef
about third larger, with some increase in
wool, while decrease Of third appears in
barley and cured meats. Drygoods sales in
August were the largest ever known; the
clothing trade is very large with fair collec-
tions and trade excellent Money is plen-
tiful for legitimate trade.
IN THE WEST AND SOUTH. :.
At Milwaukee business is satisfactory.
At Minneapolis sales of lumber are large
with prices stiff, and receipts of wheat
l, 400, 600 bushels, against 500, 900 last year.
At St. Paul improvement is seen and pros
poets are brighter At st. Louis shipments
of money 10 the cotton States are increasing,
but the market is comparatively easy. At
Denver trade improves, and also at Kansas
City. Even at the South the improvement
is general, especially at Louisville, Men,
phis, savannah and Atlanta, and at New
Orleans trade is more active, rice being
especially strong and money in good de-
mand.
The great industries are making satifac-
tory progress. Production has been main-
tanned for three months within about 10, 900
tons weekly Of the largest quantity ever