Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-01-23
Signs of Increased Confidence All
Over the Business World.
NO GAIN IN COAL, IRON AND STEEL.
Pittsburg Now Seventh in Clearing House
Returns, Good Omen.
REVIEWS COVERING ALL TIE FIELD
ESPECIAL TELEGRAM TO rHx DISPATCH,

cieaIeO out- LII olner respects lHe sloru
influence was not favorable, it serving tc
check trade, notably at Baltimore, Cincin.
natl and Pittsburg
Inability of Southern planters to make
the customary financial arrangements al
this season with the usual facility, is re-
ported as factor in the state of trade In
several directions although Galveston an
nounces some improvement in business,
notwithstanding the low price of cotton
and slow collections AT Omaha, Chicago,
ST. Joseph and Kansas City reports are OF
an improving demand, notably for boots
and shoes and staple drygoods, with hard
ware not showing as much interest as ex-
pected at this time.
No Gain in Coal, Iron and Steel.
Leather is frmer at Boston, but dull else
where Lumber, tobacco, petroleum, an
thracite coal, iron and steel drag along as
for weeks past with no tangible gain in the
demand.
Business failures in the United States
this week number 405, against 379 last week
and $50 in the third week of January, 1891.
More failures took place in the United
States in 1891, primarily because Of lack Of
capital and financial s;ringency, than in
1890, and the number traceable to fraud was
more than doubled Only one-half as many
failed from outside speculation as in 1890.
For II months of 1891 the net earnings of
leading railroads throughout the country
increased & per cent as contrasted with 4
like period in 1890, while the gain in gross
earnings for the like portion of 1891 was
only + per cent. The Grangers, Pacifics
and Southern railways led in the order
named with the greater percentages of in
crease of net earnings.
The total of bank clearings reported to
Bya5street'S for 81 cities this week, is s. ,290,
169, SD, or 12 ) per cent more than in the
like week last year.
yFool, Cotton and Drysoods.
Wool is quiet, users waiting for the next
Iondon sale 10 fix prices. II looks as if
America would not be as fully supplied
with foreign woods in 1892 IS last wear 1t
is sta.ed that our direct imports have not
increased, SuG the inference is drawn that
foreign shippers believe London prices will
be higher, and this points to probable i'm
provement for prices OF the domestic pro-
duct.
Raw cotton has been stronger ard 1-16c
higher on reduced receipts Woolsu goods
are quiet except for blankets, which are
active. New lines OF cotton goods are
meeting with fair demand. Sales OF print
cloths about equal production.
Tne speculative share market has shown
- irHle5 lone on the more pacific outlook of
the Chilean complication. At the same
time the warlike rumors produced early in
the week caused more or less liquidation,
which was accelerated by the alleged dam
ger of the withdrawal of the Missocri Pa
citic from the Western Traffic Association.
Bears Active in Stocks.
Bearish pressure ACCOMPANIED and agra
waited the movement, though it was notice
able that fairly large buying appeared at the
lower level of prices, and the market,
though still lacking a decided tendency, is
firm The Anthracite Coal stocks have
been the subject of much activity, and dis
play strength based on the probable settle
ment Of the allotment Of production and on
alleged ideals" involving the control OF the
Poughkeepsie bridge
The bond market is firm with brisk de-
mand The New York money market is
oversupplied with loanabie funds, and rates
have yielded still further Foreign eI-
change, however, continues abnormally
firm. notwithstanding a reduction of the
Bank of England rate and fair supply Of
commercial drafts against grain and provi-
sion shipments
Exports OF wheat this week, including
-four as wheat, from both coasts ofthe United
States, IS reported by mail and wire to Brad
streets, equal 4. 522. .219 bushels an increase
Of about 230, 600 bushels as compared with
last week. Indian corn exports remain the
feature, with shipments aggregating over
2 600 bushels within six days as COM
pared with B. 321. 900 bushels the week be-
fore. Exports of oats and rye remain Of
Unimportant proportions after their brief
prominence a month ago.
L. q. Dun 6 Co.'s Optimistic Review
r. G. Dun 6, Co. s weekly review SAYS:
Reports from every part OF the country
express even greater confidence than before
in the prospects for trade, while in some
lines definite, though gradual, Improvement
is already seen. Rumors of coming war
have during the past week not had sub
stance enough TO affect money markets or
trade in the least.
The markets for staDle products have been
undisturbed by speculation, which is held in
check by enormous supplies. Wheat ad-
vanced IL cents, and receipts at the West
have been lighter, owing to severe weather
but exports continue large. Corn is coming
forward very freely and has declined 1%
cents, and exports for the week Will proba-
bly, be very heavy. Oats are Il cent lower,
but pork products a shade stronger.
Oil has declined y cent and coffee ad-
vanced 4 cent. In other markets no i'm
portsnt change in prices is noticed, though
increasing strength is in prospect in the
markets for iron and steel products Specu-
lations in cotton has taken courage from
the fact that receipts have recently de-
clined. and the improving market caused a
better tone at many Southern points.
The State of Trade in the East.
Reports from cities indicate some real in
crease in trade, as well great confidence
in the future. More activity is seen at Ios-
ton in drygoods and in shoes, though often
at lower prices. At Philadelphia increasing
sales are seen in drygoods the Northwest
leading in purchases, and better orders for
iron have caused additional furnaces to be-
gin blast.
Cincinnati reports general business open-
ing brisk. At Cleveland rolled iron is in
active demand, and some advance is seen in
ore with large sales. Lake freights are con-
rracted for at some advance over last year |
At Detroit country orders are more free, and
some manufacturers working overtime
At Chicago general trade is larger than a |
year ago and collections easier and an in |
crease of a third is seen in flopr and corn |
receipts: but receipts of wheat Snd lard are |
Goubie, OF rye three times and of dressed |
beef four times last years, hile decrease |
is noted only in oats, barley and cured |
meats.
At Milwaukee cold Weather has a good ef- |
feet, and the demand Tor money in the lum- |
Der and live stock trade is active. At Min |
neapolis extreme cold causes u slight de- |
crease in trade, but flour is in better de- |
mand, the output being E3,00O barrels, |
against ll9OO0 barrels last year, iortbe week. |
At st. Paul prospects of trade are excellent |
and money easy, and at Omaha very easy, |
with trade improving. |
In the Cities of the Southwest
At st. Louis severe snowstorms since Jan |
uarv ] have interfered with retail trade but /