Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-10
NO GENERAL REVIVAL
The Country's Trade Not Recovered
From Holiday Dullness.
SHRINKAGE IN IRON AND COTTON.
Fears Iet Of Legislative Tampering With
the Currency.
FOREIGN TRADE STILL FAVORABLE
nryc1II TELEGRAM TO rHR DISPATCH. ]

TO BTddStTeetS snow tnat tnere mas Deen, as
vet. no general revival from the period Of
inactivity customarg at the opening of the
new year. The exceptions have been at
Boston, Philadelphia, Cincinnati and San
Francisco, where the revival of demand in
leading lines has given rise to decidedly
more activity relatively than has been OBJ
served elsewhere. At Boston, rubber is
higher, leather is stronger aud drygoods are
in improved demand. At Philadelphia,
there is a better request in nearly all lines,
noticeably in pig iron prices, which are a
shade higher.
There is better feeling in wool, and cot
ton tends upwards again, but woolen goods
are as depressed as previously. Groceries,
notably coffees and teas, are firmer. The
movement of sugar and rice from the plan
tations to New Orleans, is quite free for the
season; but at Memphis, Kansas City:
Omaha, St. Paul and Duluth, tlade is quiet,
the weather having been uuseasonably mild
ABad Setback for Lumber.
Lack of snow in Minnesota and Wiscon-
sin has affected logging unfavorably. Lum-
Der is weak and dull at the West, but hides
are hrmer. Receipts of cattle at primary
markets are heavy. Arrival of hogs are
free at Omaha and prices are 1c. lower.
Wheat at San Frrncisco is irmer and &c
higher per busheI, with free exports, but
large available supplies on the Pacific
coast. Washington, Oregon and Idaho
available wheat, with that in San Francisco
callboard warehouses, equals nearly 13, ,000,-
900 bushels, nearly twice the available
stocks there year ago. At the East wheat
has gone off 11ke per bushel on unexpected
continued increases from week to week Of
available stocks of wheat, weaker cables
and freer selling.
December gross railroad earnings were
satisfactory, gains by 131 companies over
December 1889, amounting 10 6.5 per cent.
Aggregate earnings for the month were $685.
055, 7l6, and the mileage was 81, S2S, an in
crease of per cent Decreases were more
numerous and large gains of greater volume
than in November last
Prosperous Railroad Traf ffic-
Heavy earnings in that month point to
large movement in all lines except cereals.
Cotton rail shipments were heavy The
Pacific roads make the best showing. For
the year 1890, 129 companies report total
earnings of S4S4, 230, 1874 on 81, 67S miles of
track, gain on earnings of Sc per cent,
and mileage of 81 per cent, over 1889.
Every group of roads shows a gain, the
largest increase being in the Southwestern
and the smallest in the trunk lines.
The New York share market continues to
advance on the growing ease of money and
the prospect that the new Western Railroad
Board of Control will be successfully organ
ized, and will be productive of benefit to
the operations and revenues of the compan-
les in interest. The bond market is strong,
and the buying demand keeps pace with the
advance of values.
Bank clearings at So cities for the week
ended January s, were 81, ,2S2, 1877, 1874, an
increase over this week last wear OF 54 per
cent. New York eity's clearings, which
constitute COL per cent of the grand total,
are more than those for the same period last
year by &c per cent, while at 81 other cities
the gain is 9.4 per cent
Increased Number of Failures.
Business failures reported to Bradstreet's
number 391 in the United States this week,
against 303 last week and 354 this week last
year. Canada had 43 this week, against 2l
last week. The total number OF failures In
the United States from January ! to date, is
537, against 663 in the two iull weeks of
last year.
r. G. Dun & Co.'s weekly review saws:
The year opens with tie expected movement
in the money markets and the collections
resulting from annual disbursements, which
have been larger than usual. The hopeful
feeling in most branches of trade continues
also, and the railroad outlook is improved.
1t is becoming clearer every day that the
QUE great obstacle to prosperity is the fear
that debasement of the dollar may produce
violent contraction, withdrawal of foreign
investments, collapse of credits and disas
ter which will be felt by every branch of
trade and industry.
The iron and steel manufacture has been
SO RAPIDLY extended that shrinkage OF credits
has forced sales in many cases at prices be-
low cost
A Shrinkage in Cotton and Iron.
On the whole the prospect is considered
less bright than it has been for many years
in this industry. In the cotton manufacture
also, the shrinkage of credits has severely
strained many concerns, and prices of goods
have been very low, but further reductions
have heen made during the past week in
bieached cottons. The wooden manufacture
is doing fairly, though extending but mod
erately and buying wool with caution. In
the boot and shoe manufacture, the outlook
is regarded as especially favorable.
Reports of trade from different cities are
stlll much influenced by reviews of last
years great business, but generally indicate
j large volume of traffic in progress for the
season, with marked improvement since the
monetary pressure abate6. Boston notes
larger sales of boots anj shoes and of
leather and stronger hides, firm wool and
quiet lumber. At Philadelphia the leather
and shoe trades are dull.
The Products of the Farm.
Wool is in little demand. Some uneasiness
is seen regarding obligations in tobacco but
better collections in paints. At Chicago re-
ceipts of grain equal last year. An increase
is seen in butter and cheese hides and wool.
but decrease in dressed beef, cured meats
and lard. Drygoods and clothing sales ex-
coed last years, with excellent payments,
and the shoe trade increases.
st. Louis and Cincinnati note better
trade. At Denver trade is good, and at
Salt Lake decidedly improved, while at
other Northwestern points business is un-
changed or comparatively quiet. Higher
cotton produces greater activity throughout
the South. Sugar and rice receipts at New
Orleans are good. Reports of collections
are more favorable.
Foreign trade continues favorable, exports
showing large gain over last wear, while
there is some decrease In imports. The
merchandise movement supplies no reason
for the advance in the foreign exchange. nor
does the local money market, and the
Treasury, has put out during the week
81 SOC, 900 more cash than it has taken in.
For some weeks to come, at least compare
lively easy money might be expected if
there should be no disturbance arising
from legislation.
THE PEOPLES STORE, FIFTH AVENUE.