Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-10
HOLIDAY SLACKENING
Is the Feature of Business for the
Week, Which Isn't Unusual.
IRON PROSPECTS LESS BRIGHT.
Effects of the Monetary Conference and
Goulds Death Noticed.
PITTSBURG IN THE TENTH BANK PLACE

NEW YORK, Dec. 9-R u. Dunn q
Co.'S. weekly review of trade says: Busi-
ness shows no decrease except that slscken-
ing IN new transactions which is customary
as the holiday season draws near. The
money markets in general show astrong de-
mand, though money is actually close only
at Cleveland, and apparently rather easier
at most points, while at Eastern cities the
markets are easier with slackening de-
mand. At all points reporting, the holiday
trade opens more briskly than usual, with
prospects of larger volume.
Speculative markets are comparatively
quiet, except for cotton, in which sales OF
over 9, 900, coo bales in week are again re-
ported, and after decline of &c there has
been an equal recovery.
The iron trade is extremely dull, with
visible weakness in finished products and
less hopeful feeling. AT Pittsburg some
dullness is seen, with weaker Bessemer
iron and reduced orders for finished pro-
ducts
Condition of Miscellaneous Industries.
Boot and shoe makers have all the work
thev can do, though 1t is between sea-
sons" and shipments are larger than last
wear, the increase for the year being about
per cent.
Cattle receipts in Chicago for November
were the largest known in that mouth, ana
for the year have been 10 per cent greater
than last year.
The cotton manufacture enjoys an ex-
traordinary demand for goods, which the
rise in price does not seem to check In
wooden goods, the prospect for the coming
year is considered excellent, and the mills
are we'll employed.
The business failures during the past
seven davs number 297, as compared wath
totals OF 269 last week.
Bradstreet'S SAYS: The features of the
week include moderate reduction in dis
tTibution of staples, as is customary at this
season, an unusual activity in holiday
goods, relatively greater strength OF pig
iron West and East, news OF the financial
recuperation of Southern merchants this
year, unprecedented movement West of
Eastern manufactured products, heavy bank
clearings, fewer failures and easy money, In
spite of the unsettled silver problem, os-
sible gold exports and talk OF nervousness
in the stock market
Stocks and Exports of Wheat
Available stocks of wheat both coasts,
United States and Canada, aggregate 105,-
0S6 600 bushels, or more than ever similarly
reported before, the increase over December
/, 1891, being 80, 137 900 bushels. 1nclud-
ing stocks available in Europe and ahoat
for Europe the aggregate is unprecedented,
amounting to 49, 81, 900 bushels, fully H.
900, 600 bushels more than were ever re-
ported in Europe and in North America at
any prior date. Exports of wheat from
both coasts OF the United States this week,
-four included, equal 4, 404, 900 bushels,
=DD L. Ill
600 bushels in the week a year ago, 2,641, 200
bushels and smaller quantities two and
three years ago
Speculative feeling has been Influenced to
some extent during the past week by the in
creasing prospect that the Brussels confer
ence viii be barren of results. A movement
for the repeal Of the Sherman act is believed
to be inevitable in that event, and the uncer-
tainty o. the situation is unquestionably
productive of hesitation in speculative
circles. Such views we're reinforced by the
strength of the exchange market and the
apparent possibility of further gold ship
ments, the conditions in that connection be-
ing adverse to bullIsh development in the
market
Financial Effects of Gould's Death.
On the other hand, the beginning of the
week was marked by a certain degree of
strength IN prices, Que 10 an lQea tnat the
disappearance of Mr.. Gould as factor in
the railroad situation may bring other in
terests to the front in the properties of
which he was the autccrat, and furthermore,
eliminates the powerful opposition he pre-
sented to the plans OF rival managers. This
tendency, however, was not permanent,
and the market, being entirely in the
hands of traders, reverted into an exceed
ingly dull condition, attended by more or
less saggIng of values, due to the expecta-
tion Of gold shipments. At the close OF the
week stronger tone was shown, although
the activity was still limited, the move
ment being due to the probable postpone
ment Of gold exports till next week.
The Gould stocks occupy a much more
prominent position in the market than of
late 1t was toreseen that the late fnan-
cier's testamentary disposition would in
volve the placing in trust for his heirs of
the controlling interests in the stocks with
which he was identified.
Pittsburg Tenth in Bank CIearings.
The following shows the bank cIearings
for the week ending December s: