Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-07-02
THE BUSINESS WORLD.
A Remarkable Six Months of General
Trade Sized Up by Experts.
THE FAILURES OF HALF A YEAR.
Pig Iron No Better, but the Fight With
Organized Labor Averted.
FIRES EIIIrREN AND RAILWAY NEWS
THE FAILURES OF HALF A YEAl
FIRES. FAILURES AND RAILWAY NEWS
ESPECIAL TELEGRAM TO THE DISPATCH,

ESPECIAL TELEGRAM TO THE prsPArcH.l
NEW YORK, July special kilograms
to BradStreet'S from the more important dis
tributing centers Indicate clearly that mid
summer dullness is at hand.
The more encouraging advices are from
ST. Paul, Omaha, Kansas City and St
Louis. The first reports some gains in
movement of goods in all staple lines
Kansas City announces that its June vol
ume Of trade is in excess of that for 1891,
with cattle and hogs active and wheat and
coru prospects excellent, and from ST. Louis
word comes of the gradual improvement in
general trade, with excellent crop pros
poets which stimulate business now and
point to good fall trade.
At Boston manu- fac cturers of boots and
shoes are busy, with sole leather higher and
advancing, but lumber East is weak. Print
mills are crowded with orders at good
prices. Baltimore merchants expect q bet
ter business in the autumn, as they have
been purchasing stocks with conservatism.
Philadelphia drygoods dealers are only fill
ing supplementary orders.
Loss by Floods the Mississippi.
New Orleans reports that continued high
water has greatly retarded business through
out Louisiana, while Galveston says Texas
trade in staples is only fair, that other lines
are quiet, but that prospects for autumn are
Memphis Cincinnati, Pittsburg and San
Francisco all report general trade quiet and
unchanged. Even at Chicago wholesale job
bers in several lines are only placing Gus
rOmary orders, when given the privilege of
cancelling them.
4 holiday feeling possesses the specula-
tive share market, the prevalent inactivity
being intens fed by the absence of foreign
participation due to political excitement re-
garding the general elections in Great Brit
ain. Renewed gold shipments, So, $3.50 600 hav-
ing been sent TO Europe and Canada, have
produced little impression upon either the
money market or stock speculation, though
limited bearish pressure has been displayed
on reports OF further storms and damage to
crops ut the West.
The July disbursements have produced
little impression upon either the money mar
ket or stock speculation, though limited
bearisn pressure has been displayed on re-
ports of further storms and damage to crops
at the West. The July disbursements have
produced little commotlon in the New York
loan market, the temporary curtaiment OF
the supply of funds being too slight to affect
rates. Exchange is firm on the scarcity of
commercial bills.
Threatened iron Troubles Staved Off
Pig iron is as badly of as ever, with prices
for some trades lower than heretofore be-
PAUSE OF further competition from Southern
grades East and West. Best grades of Le-
high iron are expected to sell as low as SIS in
the near future, 81 under current rates. No
Improvement in demand or prices has fol-
lowed the decreased production of stocks
reported for several months past. So many
prominent iron manufacturers have signed |
a modified scale of wages that, after the |
customary fortnight's shutdown at the West |
Tor repairs, it seems quite likely the impend- |
ing conflict between iron manufacturers |
and the Amalgama ted Association will have
practically disappeared
Bank clcarings for June aggregate 81 $751;
1lnl -S%1, , 10
1891, a gain Of L per cent. For six months
total bank clearings at 60 odd cities amount |
to S3O,7l3 900, or l5 per cent more than in six |
months OF 1891, and IS per cent more than in |
Il like portion of 1890. This is in spite of an |
"oximate reduction of June bank clear |
at New York City due to Stock Ex- |
.1TIge Clearing House operations of about |
Exports of wheat, including flour as |
wneat, from the United States seaports both
coas 3, for the week ending June 80 equal
g. PIG, 600 bushels, l,OO0,OO0 bushels more than
in tho like week one year ago and 2 COO 900
bushels more than in like weeks in 1890 1889
and lSSS
The increase over the total for la st week
Is SOlOO bushels The total quantity of |
wheat and flour exported in June was about |
i, 10000 bushels. This points to total ex- |
ports of wheat, including flour wheat of |
2l7 0oO, OOJ bushels during the past 10 months, |
as compared with IO6 600, 900 bushels in the |
cereal year ending June 80, 1891
3he Failures for Six Months.
There have been 5,55l business failures in
the United States within six months, 6s6 |
fewer than in the first half of 1884, decrease
OF II per cent. Contrasted with six months
of 1899, the decrease is only u.s. or per cent
Aggregate liabilities tell away to $50 5S3 COO |
this year, or IS per cent less than in the first
half of 1891, and 10 per cent less than in a /
like portion OF 1890. From this it is seen |
that l larger proportion of the failures this |
year are OF smaller concerns than in 1891 or |
1899. There were only three more failures /
with $4,000 liabilities each in the past six
months than in 1880 but aggregate liabilities !
of this class OF emDarraSsments in 1892 are
Is per cent smaller than in 1890, and 81 per 1
cent smaller than in 1891
DrygooQs at first and second hands are
less active. Print cloths are firm and active /
at late advances. New prints will be offered /
next week. Woolen goods are weaker in
some lines. Carpet makers are well sup
piled with orders.
Raw wool is more active at advances with
a tendency. in case the quality of new clip is
high, to higher prices. Prices abroad are
relatively higher than here. Raw cotton is
ll6c lower on a restricted market, Que to |
Tears Of favorable action by the Senate on |
the anti-Options bill.
Dun's Review of a Re charitable Season,
r. @. Dun & Co.'S weekly review says: A
fiscal year never matched in the whole his
tory OF the country, IL the volume of in
oustTlal production, in magnitude of do |
lnestic exchanges or in foreign trade, has
Just closed. The imports tor the year have
been about SSS3, 600 0O1, the increase in New
York IN June over last year being about Is
per cent. Exports from New York in June |
gained l5.4 per cent and the aggregate for
the year has been about ST or, 600 900.
Railroad earnings have been the largest in
any year thus far, and clearings in June the
largest ever known in that month, exceed
ing last year per cent, and for the whole
year the largest ever known outside New
York. Failures or the half year have been
5, ,50S against 6.O74 IN 1891. and liabilities S62
300 0OO a@ainst S92 900, and on the whole
about the smallest for Iive years. In spite |
Of low prices, additional works are going
into operation, even in iron manufacture |
and yet more in woo,en and cotton. More |
over, the crops of this year promise to be
very satisfactory, and the new half year
begins with excellent prospects.
Pitsburg Eighth in Bank Clearings
The following table compiled by B,adstreers
gives the Clearing House returns for the
the week ending June So 1892, and the per- |
cen tage of increase or decrease as compared |
with the CORES ding week of last year:
inc. Dec. |