Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-03-28
Bad Weather and EXecrable Country
Roads Interrupt Movements
of Merchandise.
MANUFACTURES ARE UNIMPROVED
Iron Barely Firm for Best Grades, and
Steel Rails at $50 by the Combination,
Not by Demand.
SOME EFFECTS OF TARIFF CHANGES
Money in Increased Demand, Bank Failures kcrt
Numerous and Clssrngs Less.



week has been marked by continued inter
ruption to the movement of general mer
chandise. Country roadways West anC
Northwest are heavy, and interior mer
chants are not ordering with freedom. Far
ther West heavy snowstorms have blocked
railway traffic, and, as a result it has beer
relatively quiet in many lines of trade al
Kansas City, st. Louis, st. Joseph, Omaha
Minneapolis Duluth, Milwaukee and Chi.
cago. Cincinnati reports that rains and
high water at the South have had an unfa.
vorable effect on some Southern markets
New Orleans merchants express the belief
that damage done by foods in regions tribu-
tary to that city has been overestimated.
On the Pacific coast higher prices are pre-
dicted for salmon, owing to higher prices
of tin, Of supplies for the seasons work, and
higher wages for fishermen. Demand for
wheat from the west coast of South America
is becoming noticeable at San Francisco,
whence 81, 200 bushels were sent to Callao
on the 21st inst
No Improvement in Manufactures.
In manufacturing lines no Improvement
is reported. Iron is barely firm for best
grades at the East and steel rails are held
at $50 by the combination, not the demand
Coal opens 25 to 40 cents lower, nominally
Prices have been so low of late that the
schedule cut amounted to nothing. Demand
is not equal to expectations.
Woolen manufacturers are working on or
ders. Drygoods generally are in light de-
mand. An average business is doing in
ginghams, and wooden dress goods move
tsirly well. Prices are only fairly well held.
Wool is quiet, foreign and territory in chief
demand. Cotton holds up we'll in the face
of an immense movement Cane sugar has
been more active and is u cent higher. Re-
fined is unchanged, but April delivery is
selling 1sZ cents below present quotations.
New Orleans sugar stocks are smaller than
ever before. The Cuban crop is estimated
at 100000 tons, against 645, 900 tons last year.
The Brazilian crop is 203, 900 tons, against
147 900 tons last year. Butter has declined
some. Hogs are higher and in good de-
mand, and products, though stocks are
large, are firmly held at recent advances.
Bank Clearings and Foreign Trade.
Business failures in the United States
nu umber 200, against 179 last week and 1S9
this week last year. The total from Janu-
ary to date is 8, 1882, against 8, 1856 last year.
Tariff changes and larger or smaller crops
have had important effects upon foreign
trade. For seven months ended January
81, the total value of foreign trade was per
cent larger than last year. due to the gain in
duty and free imports of coffee, chemicals
and textile fabrics. Dutiable imports only
gained nine-tenths of per cent, and exports
1.5 per cent Sugar imports (dutiable) were
smaller, and exports of breadstuffs decreased
heavily, while cotton and provision ship
ments showed good increase.
The leading money markets experienced
an increase of demand this week, and a
slight hardening of loan rates was result
AT the end of the first quarter of the wear
this was to be expected. Mercantile ccllec-
tions continue quite generally slow and un-
satisfactory.
Bank clearings at Sc cities for the week
ended March 26, amounted to S931 763, $40,
decrease from this week last year of g. per
cent. At 55 cities (New York's total ex-
cluded), the gain is one-tenth of per cent.
Stocks Narrow, Firm and Higher.
Though very narrow, the stock market
has been firm and higher on the absence OF
gold shipments, the improving financial
conditions abroad and the present favorable
crop outlook. Public interest is, however,
absent, and the advances were mainly the
result of bear covering.
Smaller exports of wheat from San Fran
cisco this week resulted in a sharp decrease
in the quantity of wheat (and -four as
wheat shipped from both coasts, the total
being 69,S18, 301 bushels from the United
States exclusively since July 1, as compared
with SO, 638, 900 in a like portion of 1S89-9O,
with &c, 925, 900 in 1SSS-S9, and 9S, 769, 600 in
1887-8S. This week the total shipped was
1,S20, 977 bushels, against 2.733, ,0S9 in the
previous week, and ], $50, 800 in the fourth
week of March, 1890.
Wheat, as well as Indian corn, opened the
week in fair demand at home and abroad,
and became very active both for export and
speculative account, with sharp advances.
Later the demand fell away and prices
weakened,
General trade in the Dominion of Can
ada is comparatively quiet, but is more ac-
tive than fortnight ago. Collections are
disappointing. Groceries are perhaps in |
relatively more active demand. The Do |
minion reports Al business failures this |
week, against 26 last week and 29 this week |
last wear. The total number from January
i to date is $50, against 545 last year.
r. G. Dun s. Co.'s Version.
r. 6. Dun & Co.'s weekly review saws:
If no news is good news, as concerns the |
condition oil business at this season, the out |
look is fairly satisfactory. Trade has been |
rather quiet and hesitating, as is natural |
at this season, and there is rather more COM |
plant of slow collections; but throughout |
the Northwest bad weather and the bad |
state of country roads supply an explana- |
tion. Money is in fair and increasing |
supply, and though still tight at Salt Lake |
and scarce at Jacksonville, and in stronger
demand at Omaha and Milwaukee, is almost
everywhere easier, so that the wants of |
legitimate business are met without trouble
The out look for the coming cropstcontinues
exceptionally good.
1t has been week of unhealthy specula-
tion in some products, owing TO the desper-
ate efforts OF powerful combinations to force
prices on which they can unload without
loss. Wheat rose to 81 165+ on Monday,
and at 81 15Z is still cents higher than a
week ago, sales having been 73, ,000, 900 BUSH
els, and corn, with sales of 30, 600, 900 bush
els, has risen AZ cents to 78h cents, while
oats at 59A cents are less than cent higher.
Prices Averaged Highest on Monday
Pork products are advanced, and coffee
and oil are higher a small fraction each.
while cotton is 1-16 lower. The general ay-
erage of prices reached its highest point this
year Monday, and though now a fraction
lower is still 1 per cent above last weeks:
but manufactured products do not share in
he advance except in few cases.
The iron market has q better tone. Rails
ire firm, but very dull, and manufactured
products are, on the whole, weaker. Copper
S weaker and tin steady, with lead a shade
higher. Wool is selling steadily at Boston,