Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-03-19
Have Bad Effect on Trade, Accord
ing to BradStreet and Dun.
IRON is STILL In A BAD WAY.
Some of the Features Which Are Now De-
pressing Wall Street.
CLELRINGS AND BUSINESS FAILURES
rsprc1AL TELEGRAM TO THE pIspArcu.

checked, to some extent, shipments o
seasonable goods, prevented the free maj
keting of farm products, and resulted IL
further delay of mercantile collections.
The most active general trade, relatively
is reported from Omaha, Chicago and Kan
sas City. New Orleans sends word tha
interior buyers are not anticipating want
much Baltimore is pushing trade less il
the South and more in fields not hitherto
sought by travellers from that city. Mos
other centers of Southern trade report busi
ness quite dull or only moderately active.
Pittsburg reports increased demand from
country merchants, but no Improvement il
iron. Cincinnati reports business very dull
in some lines, but fair trade in clothing
shoes, groceries and provisions
UnfavorabIe Iron Markets Continue.
The latter feature is true at most of the
larger cities North and West. Many Ohio
pig iron furnaces are planning to go out OF
blast by the end of March. Philadelphia
admits lower prices for iron, fair demand
but low prices for knit goods and increased
interest in leather New England shoe
factories are quite active, and rubber prices
have advarced.
Live stock at Western centers are 5910c
lower Chestnut coal is 25c higher per ton.
Reports of January net earnings OF Jos
railway companies show a decrease OF Z.
per cent, contrasted with January a year
ago. In December, 1891, the increase of net
over the total in that month In 1880 was 10
per cent, and in November 13 per cent. The
Pennsylvania and Northern and Southern
Pacific systems New York, Lake Erie and
Fact TapposSaa apd mi Svi lie and
Nashville show heavier declines in net
earnings for January.
Woolen goods have not been strong but
manufacturers evidently regard present
prices for raw woods as low, having bought
freely at some concessions as to price dur
ing the week. Carpets are in improved re-
quest.
The state OF the Cotton Trade.
Raw cotton loses 1sc after fluctuating
with foreign coal strike prospects and re-
duced home receipts. Cotton goods ship
ments from Eastern mills and jobbers con-
tinue heavy. Exports to China are in
creased. Print cloths are firm and higher.
Speculation in the stock markets. ex-
cessively dull and narrow, but prices are
comparatively well sustained, and even
strong in some instances. The expectation
of "sprinC rise" seems to influence the
disposition of operators, while. in spite of
a banking failure at ST. Petersburg, the
passage into liquidation of a house which
has been in difficulties for over year and
the announcement that Baring's assets will
remain with the Bank of England, appear
to create a better prospect for foreign buy
ing of Americans. The Richmond Ter
minal reorganization plan was the chief
financial event of the week, although the
magnitude of the task thus undertaken
70 -on
about its success.
The bond market has been lifeiess For
eign exchange is inactive at a slight decline.
The absence OF foreign participation in the
securities makes the cutting off one of the
usual sources OF activity. So narrow is the
market that sales of bills against gold ship
ments have been impossible.
The Export Movements OF Wheat.
Considerable dissatisfaction is heard at
the refusal of prices of wheat to advance,
though the statistical basis for materially
higher quotations is not apparent. Ex-
porrs, including flour, both coasts, this
week, equal 3, SIS, 600 bushels, little in ex-
cess of the week before, a gain of 40 per
cent over the total shipped in the like week
last wear, and more than twice as much as
In the week two wears ago.
Bank clearings at IS cities in the United
States for the past seven days aggregate
s., zoe, 600, 600, about AZ per cent less than
last week, but 1872 per cent more than in
the third week of March, 1891.
There were 219 failures in the United
States this week, against 25l a week ago.
The total from January / to date is almost
equal 10 that in like portions of last year
and the year before, but is 800 less than in
u weeks of 1889 About 81 per cent of
This weeks failures were of concerns hav-
ing $4,000 capital or less, while 9 per cent
# them had between $1,000 and 500 0OO
There were only five failures of enterprises
employing 500, 900 or more capital each.
r.. G. Dun's Complaint of the Weather.
R. G. Dun s. Co.'s weekly review will
say:
Storms bad weather and bad roads have
much retarded trade during the past week,
reducing the movement of grain and cur
failing retail trade in many cities; but,
nevertheless, reports indicate on the whole,
an improvement in the distribution of goods
and a fairly sustained demand, in some
branches increasing, for manufactured
products.
There is no trouble anywhere about
money, even the Southern markets being
fairly supplied, with light but rather bet
ter demand, while at the West the demand
is still met by an ample supply. While i'm
ports OF merchandise show large increase
over last year Tor half OF March, l04 per
cent, there also appears an increase in do |
mestlc exports tor two weeks of March al bout |
6 per cent; but vast supplies of some great |
staples have produced phenomenally low |
prices during the past week. These low |
prices cause not a little disheartenment in |
some branches OF trade, although the move |
ment OF products continues active.
Reports from interior cities are generally
more encouraging. At Boston a steady in
crease Is seen IN the drygoods trade. Ship
ments OF boots and shoes slightly exceed |
those OF last year for the week. At Phila-
delpnla excellent distribution of drygoods
is seen.
At Pittsburg reports are OF poor demand
for manufactured iron, but a good trade in |
glass. At Cleveland trade improves and eX- |
ceeds last years, though pig iron and ore
are dull. At Cincinnati the shoe ranufac- |
turer Is busy, put strike has stopped the
harness and saddlery business.
At Chicago and the West
At Chicago excellent trade is seen in dry
goods and shoes, though the clothing trade
falls behind on account of the weather. but
for the year exceeds that of last year Re-
,eipts of wheat are three times. of barlev
md dressed beef twice that of last yea, and
IN increase of two-thirds is seen in fonr n
-hird in rye and cattle, and some increase in
,utter, with slight decrease in hides and
WOOL and large decrease in hogs, cured
meats and lard.
At Milwaukee jobbing trade equals that of
asst wears, in spite of bad roads, and at
omaha business is very good in all lines At
It. Paul and Minneapolis jobbing trade was
eceipts are reduced by the storm. At
lansas CITY trade is fairly satisfactory and |
attic receipts heavy at lower prices At
t Louis wholesale distribution in all lines |
re unusually easy, country merchants buy
np not only more goods but better oynii |