Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-04-02
VALUES GOING DOWN.
The First Half of 1892 Will Not Come
Up.to the Expectations.
HEAVY ROADS STILL A FACTOR.
Quite an Increase in the Number of Small
Failures IN New York.
WALL STREET BOOMS THE CLEARINGS
EAVY ROADS STILL A FACTOR.
WALL STREET BOOMS THE CLEARINGS

to BrddStreet'S again make clear the fact thai
the period of practical stagnation in tn,
industrial and commercial circles is being
indefinitely prolonged-evidently far be
yond what had been anticipated. Will
this go the long prevalent features, declin
ing prices for leading staples, due to exces
sive output as well as to low rates for money
on the best security. There appears to be a
growing impression that the first half OF
1892 Is not to meet early expectations.
At the South, Galveston epitomizes the
adviceS from half a dozen cities with: "Cot-
ton continues to decline and trade generally
is dull" New Orleans, at the close of a
month"; finds business slower than usual,
with rice stagnant, owing to the closing of
all the mills by the combination, an un-
precedented state of affairs.
The Outlook on the Pacific Coast.
On The Pacific coast trade continues quite
dull, notably at San Francisco. August
ocean freights thence to the United King
dom are 81 IS cd, while spot is SO low that
one clipper ship has cleared for New York
in ballast, something said to be unprece-
dented. Wheat is much lower, and the
grain crop outlook throughout California is
declared 10 be excellent since the heavy
and widespread rainfall
The West and Northwest report unfavor-
able weather and heavy country roads,
which have checked business and DELAYED
collections some though trade there has
been relatively the most active. St. Louis
reports improvement iu sales of drygoods,
boots and shoes and hardware, and Kansas
CITY and Omaha shows better demand for
cattle. Hogs are lower Omaha's volume
Of iobbinC this season is larger than 1891,
likewise Chicago's, and similar returns are
received from the larger Minnesota cities.
Lumber rubber and copper are the only
staples showing a tendency to advance, or
which have gained any in price within the
week. Iron is no lower, but all improve
ment is largely based on anticipations An
thracite coal is firm and in better demand,
but the output TO date is 5000, 600 tons,
against 1900, 900 in three months of 1891
All Cereals and Products Lower
Wheat continues to decline, notwith-
standing Europe's alleged decreased stocks
and heavy nearby prospective wants from
abroad For that matter, all cereals and
their products are lower.
Business failures in the United States
for three months past number 2o7,
or less than in a like portion of
three preceding years Liabilities have de-
Clined 20 and IL per cent contrasted with
one and three years ago. A feature is an
increase of nearly 100 per cent in the fail
ureS at New York City. accompanied by
decline there of 10 per cent in total debts.
Increases of note in the number of failures
were among dealers in iewelry, tobacco,
shoes and furniture, besides a large in
crease in failures in miscellaneous lines
In Suite of the relief experienced from |
the disappearance Of free coinage as an un- |
settling factor, the speculative share market |
has continued dull, and speculation has |
been inert and subject to bearish manipula- |
lion. Attacks on Northern Pacific, New !
England and Richmond Terminal with SELL !
ing of sugar supposed to proceed from the |
parties where refineries were sold to the |
trust" have weakened prices generally,
the engagement of 5000, 900 gold for export |
on Friday having a further disturbing in
fuence. The bond market is dull and life. |
less.
Silver still Going Down Hill.
Silver early in the week declined sharply,
the quotation for commercial bars touching
39l in London and S514c per OF. here. A
heavy Indian demand developed on the de-
cline, the exports for the week being over
!. O00,00 ounces and prices rallied mater
iallv. Foreign exchange is firm and dull
Bank clearings throughout the country
herewith were undulv expanded bv excess
Sive dealings in Wall street, the totals re-
ferred 10 being the heaviest on record for
the parioGs named. New York City accounts
for 50 per cent of the total net gain in
March clearings over 1891, and for 76 per
cent OF the increased clearings for the
quarter. Total clearingS, with New York
City excluded. increased ii per cent for
March and 70 per cent for the quarter as
contraSted with like periods in 1891.
Ehe Export Movement of Wheat
Exports of wheat, including flour as
wheat from both coasts of the United
states for the week ending March 81, equal
Z, 591, $50 bushels, compared with 1856 967
the week before completed returns) and
with >. 16+. .1SS bushels in the week a year
ago. This weeks shipments of wheat have
been the smallest ever since the third week
ia July. 1891 Exports of Indian corn this
week equal :, 734, 545 bushels, against 9, ,2o2-
}lS bushels the week before, and as COM
Dared with 514, 1S4 bushels in the week one
rear ago, and with 3,219, $50 bushels two
-earS ago.
Wool supplies are large, and this, with
per cent decrease in prices at Tuesdays |
london sales, have depressed prices and
heCked demand, notably at Philadelphia
md Boston. New wool will soon serve to
Intensity the heaviness now felt. Manu-
acturers are fairly busy, but refuse to stock
,p with raw material under existing condi-
ions. Raw cotton is 1-16c off on the week,
md there is no improvement in the tone
u the market anywhere Prints and ging-
lams are in good demand, and brown and |
Dleached sheetinCs are sold ahead of produc-
ion. Carpets are firm at an advance |
There Is, also, good demand for pongee
nd silk draperies and for wool dress
ahricS. Better weather has stimulated
riders some.
Dun Gives a More Favorable Report,
R G. Dun & Co.'S weekly review of
rade will say:
The business outlook is distinctly improy-
ng. There has come distinct increase in |
he marketing of manufactured products
nd greater activity in many lines of do
nestle trade. This is, in part due to more
lvorable weather in most sections and the
condition of Country roads and to
he prospect of an early spring
Aanuiacturers are doing well. Probably
he cotton manufacture has never Turned
mt as great a quantity of goods az anv other
lme as it has this year thus far, with less
ccumulation OF its products in the hands of
or wholesale dealers. The
istrlbution has been remarkably la rye and
he results of trade generally satisfactorv
: prices of TIE materials have been declin,
lg, while goods, though on the whole as
heap as at any other time, are fairly main |
lined in price. The wooden manufacture
lso, shows distinct improvement i'm some |
ranches though not in carpets nor in the |
,wer grades OF mixed goods for mems wear
he better all-woOl goods are steady and |
ress-oods are more largely produced than |
the past year, and no undesirable aeon
lulation is seen. The boot and shoe bust
ow exceeding last years ahd orders being
rye and urgent.