Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-03-07
An Average Advance in Commodities
of 1 Per Cent ThissWeek.
MONEY is UP, COLLECTIONS SLOW.
The Demand for Iron Has Decreased Fully
One-Fifth of Late.
SPECULATIVE MARKETS ARE ACTIVE
,sprc1AI TELEGRAM TO THE DISPATCH,

boots and shoes and hats and caps. The
more encouraging features OF the week ere
the subsidence of high waters where floods
have recently threatened, the cessation of
the storm on the Pacific coast, improving
weather generally, and reports of settle
ment of differences between the Mononga-
hela coal miners and the mine owners.
There is a practical stoppage of produc-
ton of duty-paid sugar, and the price OF
granuIated is from n to 3-16 cents higher at
New York, and 12-cent up at San Francisco.
Coffee is sc higher. Leather and hides
were in better demand. the former being 1c
higher per pound than ON February l.
Live cattle and hogs are irregular in price
at Omaha Kansas City and ST. Louis, with
out special strength. Duluth and ST.
Joseph, while reporting fair trade, admit
that larger share of orders than usual is be-
ing turned down.
DrySoods, Wool and Cotton Markets.
Special efforts have been taken to prevent
oyerstocking by country dealers. Drygoods
have been in fair demand, cotton and wooden
dress goods having been most active. Brown
and bleached cottons move slowly. Wool is
quiet after a fair trade tor the season. Man
ufacturers are fairly we'll stocked. Cotton
is an eighth of a cent off and weak on the very
heavy crop movement. The effort to advance
the price of pig iron at the East has not been
successful, and anthracite GOAL is still moving
sluggishly.
Business failures in the United States this
week number 23l, against HlS last week and 2l5
this week last year. The total from January
to date is 2.75S. against =, 75S last Year.
Money has been firmer and in better demand
than lastweek, though the increased demand
has not been generally sustained Rates have
been u to per cent higher but in some in
stances reacted
not exceptionally prompt. Bank clearings
point to a quieter condition of general trade
and speculation than year ago, particularly
at New York and other Eastern cities. The
total clearings for February at 56 cities aggre-
gate S3, ,S94 6S2 $50, which is 1l.5 per cent less
than in February, 1890. and per cent less than
in February, 1889.
CIearings Still Show Decrease.
New York City clearings were s., ,304, ,537. .096. a
decrease from February last year of II per
cent, and from February. 1889. of IA per cent.
There were notable gains at Chicago, Calves
ton, San Francisco, Minneapolis, New Orleans
and Cincinnati.
Continued financial complications at London
regarding Argentine investments. the fear of
gold exports, unfavorable earnings of Western
roads and the apathy of the speculative public
combined to cause sharp depression in stock
value, the New York market on Friday being
very weak.
reported damage to French and possibly other
continental winter wheat crops, light officially
reported stocks at home and good demand
for spot for home demand and for EXPORT.
There were 1881 S34 bushels of wheat (and -four
as wheat) exported from the United States,
both coasts, this week, against 1,6Si 240 bushels
last week. and as compared with 2264, SOY
bushels in like week in 1890; 9O5, 5l0 bushels in
1889. and l603. .5S3 bushels in 1855. The total ex-
ports from July to date equal 67.9 637 BUSH
els (ncluding Montreals shipments), against
%. 1912 SCI bushels in like portion of $780, g. =
SSS 920 bushels IN 1882 and 80 9Sl. .527 bushels in
a like portion of 1855. Indian corn exports this
week amounted to 601, 800 bushels, against 37S,-
$50 bushels last week.
Stocks of Wheat Much Smaller.
The total stocks of wheat available in the
United States and Canada have decreased
9.S3S 600 bushels since January l. 1891, as COM
pared with a decrease of L, $40, 900 bushels in
two months of 1890, and with 10, 2S5, 600 bushels
in like portion of 1883. The aggregate of
available wheat both coasts, March l was So,
995, ,0OO bushels, or ,554,0 900 bushels more than
were reported one year ago, and 2TIo.OOO bush-
els more than were reported two years ago.
Consolidating Beerbohm's and Bradstreet
reports of. wheat stocks, March J. the total in
second hands in Europe. afoat for Europe and
available in the United states and Canada, was
49, 523, 600 bushels, 3GSl. 900 more than the
total year ago. but TO- go 600 bushels less than
the total two years ago. Stocks in Europe and
afloat. therefore, have declined less rapidly
during two months 0f 1871 than IN 4 ike por-
tiOn OF either 1890 or 1889.
Throughout the Dominion of Canada interest
in the elections of the 9Th inst tended to inter-
rupt business generally. The Dominion OF
Canada reports 80 business failures this week,
against 43 last week, and IS this week last year.
The total number from January to date is
456 against 43S last year.
Prices of Commodities Moving Upward.
r. G. Dun & Co.'s weekly review says: The
one wholesome factor is that prices of COM
modities are moving upward rather rapidly.
the average having risen more than l per cent
during the last week and the exports of ner-
chandise are thus liable to be restricted.
Reports of trade from all parts of the country
show little change since last week, though
there is perhaps a little less activity on the
whole The South feels the continued decline
in cotton but trade in that section is moder-
atey fair. Rice is flrm at New Orleans mo-
asses strong and sugar dull. Business ut ST.
Louis is only fair and rather quiet at Kansas
City At Denver business is 1air, at st. Paul
good conditions continue, and at Milwaukee
and Cincinnati trade IS rather quiet. Detroit
reports larger trade than year ago, and Cleve- |
and general business as good as usual, with |
exceptional demand for rolled iron products; |
put at Pittsburg structural iron Is shaded, and |
window glass is weak. Chicago reports an eX- |
aorilinary decrease in dressed beef receipts. |
and 4 heavy fall in receipts of grain, lard and |
hides, but large gain IN cured meats and |
wool.
Trade in the Eastern Cities.
Drygoods sales are above last years, with COL |
ectjons easy. In clothing and shoes, sales are /
llso larger than year ago, but collections not |
luitc so satisfactory.
Trade is generally good at Boston, but better !
n materials than in manufactured products.
some grades of leather are stronger and hides I
irm but prices of boots and shoes do not i'm |
prove, At Philadelphia iron is tirmer and coal |
more active, chemicals III fair demand; but |
obacco Is quiet with slow collections; wool |
ather scarce with worsted spinners busy at a |
profit, and jobbers in the shoe trade reporting |
rood orders, though buyers are careful.
The only speculative market that has declined |
Turing the week is the cotton market. 1t is |
re active and buoyant while legitimate trade
md productive industry are hesitating or cur
allied.
In the IRON industry temporary stiffness in
,rices does not hide the fact that general con-
umption has sharply declined, apparently not |
ar from one-hith.
The WcoIen Better Than the Iron Trade.
The wooden industry is in far better con-
ition, the output of knit goods. worsteds and |
ress goods and the medium and lower grades |
# mems cloth being larger than at any other
ime for five years. but the more costly grades
If cloth are not yet in strong demand. Cotton
manufacture is not favored by the demand for
many grades of cloth. but the boot and shoe
nan ufacture is doing a little better of late
hough embarrassed by unsatisfactory prices
The Treasury has put out, silver notes in
luded, only S2OO,UO0 more currency than it has
aiken in during the past week, but the money
markets are generally well supplied for legiti-
nate business needs. though at some points
tringent more active. The reports as to |
objections grow little less satisfactory and
e. it is the prevailing impression that business
4 all parts of the country is on q solid footing
nd will prosper when good crops come. The
xporls OF products from New Y ork were larger
asst week, but for the past mouth show 4 de-
rease of about per cent, and the imports
,,rh q chow a M rL,nl iIlGr1.nsc