Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-27
THE BUSINESS WORLD.
Cessation of Labor Troubles Mark
an Improvement in Trade.
EFFECT OF THE READING DEFEAT.
The Increased Production of Iron Meets
an Enhanced Demand.
FIRES, FAILURES AND RAILWAY NEWS
ESPECIAL TELEGRAM TO THE p1spAroH

NEW lO1Sh, aug. -U-DpeCldl Icle-
grams to Bra1Street'S include accounts of in
creases in the volume of the general trade
worthy of special notice at Boston, Chi.
cago Minneapolis, ST. Paul, Omaha, St.
Louis and Kansas City. Cotton goods anG
boot and shoe manufacturers and jobbers at
the East, wholesale dealers in the same, as
well as in light hardware, clothing and hats
at the West and Northwest, report the
greatest activity.
Leather is moving more freely ana the
demand for lumber has improved The re-
quest for staple groceries has been irregu-
lar. Chicago and ST. Louis report an ex.
ceptional influx of country buyers Prices
for live cattle are firm at Western centers,
while those for hogs are active but lower.
New cotton is very backward. Rice and
sugar crops will be heavy. Trade is reviv-
ing rapidly on the Pacific coast, noticeably
exports of -four to Central America.
Exports of wheat from United States sea-
ports, both coasts, counting -four as wheat
equal 4,6O6. 900 bushels this week, the heavi-
est weeks total OF any week in
the current cereal year New York,
Baltimore, New Orleans and San Francisco
vious week the total was g. 900 bushels.
In the corresponding week of 1891 tue like
total was GAS 900 bushels, and in 1870 it was
2,5i2, $50 bushels. In like weeks of 1889 and
1855 similar exports were about ,0J0, QUO BUSH
els each.
share Specu alton is Irregular.
Share speculation at New York shows ir-
regular features, the market being narrow
and professional. Several influences have
interfered with the bullish manipulation of
professional operators, notably the increas-
ing strength of the money market, the e1-
port of sl,5JO,O 900 in gold despite easier ex-
change rates, and the feeling of apprehep-
slcn caused by the appearance of cholera in
Europe.
The decision of the New Jersey Chancel-
lor, condemning the anthracite combina-
tion and enJoining the Jersey Central lease,
depressed Reading, though covering by the
bears checked the decline. The Gould and
Western stocks are strong on a decision de-
claring Texas anti-railroad legislation un-
constitutional, while bullish manipulations,
with advances, are shown in the 1nduStrials
and specialties The collaDse of the Buffalo
strike mad little or no effect on the market
Silver, after decline, has rallied on bet
ter buying. Exchange is one-haIf cent lower
on slightly better supply OF bills. Tele-
graphic dispatches from many cities indi-
cate thas funds are in better demand, and
the money market consequently, little
stronger.
Bank clearings at cities in the United
II,
100000 less than last week, but 81 per cent
more than in the like week of 1891
Business Failures Are Decreasing.
Business failures in the United States this
week number 1853, against ls7 last week. The
proportion of failures of concerns with cap
ital to exceed $1,000 amounts to 9 per cent,
fully IS per cent OF the whole number being
OF those with capital smaller than that sum.
Sugar is strong ana likely to advance, with
better demand for raw in the face OF re-
stricted Cuban supply and cholera likely to
check imports on continental beet root. Un-
expectedly heavy consumption may send re-
fners into the market to buy with some
freedom.
Pig iron demand is no better, consumers
West and East taking for nearby wants
only. Merchant iron is expected to advance
at an early date. Bessemer pig has sold,
tlS IS, the lowest price at Pittsburg.
Provisions tradestTTVe suffered from the
Likelihood of cholera interrupting shipments
to and from North European ports, and
prices have declined.
The general drygoods market is very fa-
vorabiy situated at the opening of fall trade.
Retailers' stocks are smaller than usual.
Jobbers report demand excellent, the West
and Southwest buying with exceptional
freedom. Mills are receiving a fair supply
OF duplicate orders for wool and worsted
dress fabrics.
Raw Wool and Cotton Markets.
Manufacturers being fairly supplied with
raw material, wool is not as strong as last
week. The outlook is for barely steady
prices, averaging cents lower than a year
ago. Now that woods from the cholera dis
trict are to be excluded, there is better de-
mand for Scotch, China and Mediterranean
woods.
Raw cotton, under the pressure of heavy |
supply, is l-l6c lower, with no sign of n gain. |
This is exerting an unfavorable influence on |
general trade at the South. The close of the |
cotton year within four days, with a COM |
mercial crop of probably 9O50,0J0 bales, re- |
calls BrddSreeCS correspondents report in |
December last, pointing to total yield of |
g. $4,000 bales at time when few would |
admit the likelihood OF a crop to exceed |
G. 010, 900 bales.
RG.D Dun & Co.'s weekly review saws: In all |
RspeC Is the business situation appears more /
favorable than week ago. There has been /
general though moderate improvement in /
distribution; manufacturers are more fully |
employed; several great labor controversies 4
have ended, and crop reports are somewhat
more satisfactory. A little more gold has |
gone abroad and imports OF merch andise |
York, 4S15 per cent larger than for the same
weeks last year, while in exports from New
York the increase for three weeks is only |
about "a per cent.
business Is Holding Its Own.
But the shipments last year were phe-
nomenal, and it is encouraging that they
are not diminished. Excess of imports over
usual but money markets are SO well sup
piled that some outgo OF gold causes no dis
turbance or app rehension.
Moderate exports and better crop reports
lead to lower prices. Wheat receipts at the
West in four days of this week have been
!, ,295, ,593 bushels, while Atlantic exports
have been only 74.61S bushels, and the
price has declined almost cents to sO5S
cents for August. The certainty that for
eign crops, however in doubt as vet will. at
ALI events, be much better than those of last
year, helps large receipts here SO depress \
prices. Corn Is scarce for early delivery, |
and crop prospects improve but little, so
that the price is unchanged at 6315 cents and
oat are Il shade stronger at SO cents.
Accounts OF cholera in Russia have |
caused heavy unloading OF pork. which has
Ia en- 81 per barrel, and hogs are a quarter
ana laids fraction lower. while oil has al so
declined fraction.
All manufactures are now doing well.
Nearly all the iron mills have resumed work
'lnce the settlement of wages at Pittsburg |
IND IN ONO, and demands for the material
but production apparently in
,reases more as pig iron is weaker at Pitts
burg. There is a better demand for finished
and general activity. Copper and
in are steady and lead has a firmer look
The I'M junction in New Jersey against the |
reading coal combination as unlawful came
N the same day as another advance in the |
rice of coal, and since the leases were
made prices have advanced about 81 per |
on on the average.
Pittsburg Seventh in the Bank Race
The following is Brddstreet's table, giving
he Clearing House returns for the week
nding August %, 1892, and the percentage
4 increase or decrease as compared with |
he corresponding week last year:
Sew e YOrk................a 81 5as. .el4 ~ 49,
,i Sa 90 49, % o iSo