Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-03
THE HEYDAY IS PAST.
Business Takes a Less Favorable
Turn With Winters Advent.
THREE BIG FINANCIAL EVENTS
Are the Monetary Conference, Gold Exports
and 6oulds Death,
IRON MARKET SOMEWHAT WEAKER

NEW YORK, Dec 2-R. 6. Dun & Co. I
weekly review of trade says: The begin
ming Of gold exports in November and theil
expected continuance tends to weak
ness. The death of Mr.. Gould and un-
favorable reports from the Monetary Con-
ference have somewhat affected all specula
tive markets. There are also some symp-
toms of diminished activity in business.
and while manufacturers are generally occu'
pied with orders taken some time ago, there
is more complaint that new orders do not
come forward as was expected.
While the volume of trade is still very
large, it is not surprising that there should
be somewhat less activity during the re-
mainder of the year, except in holiday
lines At the same time, there is general
confidence that business early next year
will be active and prosperous. A setback
in speculation would be, by no means, an
unmixed evil, but there are no signs of dis
turbance at present, though the money mar
kets are working little closer.
The State of the Iron Trade.
At Pittsburg pig iron is slightly weaker,
with more eagerness to sell; but finished
iron is in good demand and all the mills
fairly well employed. Trade in glass is large
In volume, though at low prices. In gen.
eral, iron is weaker. with pressure to sell
some Southern brands. Copper has sold
largely at l26Is1Ic, and lead is lower. Coal
is fairly active, and bltuminous Is scarce
and dear.
Breadstutfs have been stronger, which is
natural in view OF the very low prices
though Western receipts of wheat have
been 500 900 bushels in four days, against
Atlantic exports OF only s24, 600 bushels. A
rfc of ohHrrf n in vrhn md fo and
three-Quartersi in corn resulted from moder-
ate transactions, but hogs and lard are
slightly lower, and coffee declined guar
ter. Cotton rose to 10 cents and reacted to
80 cents, sales again exceeding all records,
being 1850, bales Tor the week.
In drygoods the season has been one of un-
precedented activity. general boom and
advance appears in cotton. EXPORTS of mer.
chandise from New York fall S., 277, 900 below
last years in November, and are probably
SO, 0,000, 900 lower at cotton ports for the same
month but even with this decrease the e1-
cess oil exports over imports must have been
heav.
business failures during the last week
number 269. compared with 2O9 last week.
For the corresponding week of last year, the
figures were $50.
Bradstreet's Notes the Weekly Features.
Brddstreers will say: The features of the
week are the exceptionally favora BILE posi-
tion Of the cotton mills North and South; the
heavy advance in the price OF print cloths,
Nc to Lice; the outlook for a further ad-
vance to 41zc per yard; increased buoyancy
at the South, due to high prices for cotton,
and the reaction in asking prices for some
grades of pig iron of Csc per ton in Northern
> markets, and of SOC per ton of steel bfllets.
Wool is very quiet, with prices barely
steady, and no speculative feeling in any d.
rectlon. Our Australian tak1ngS are only
one-half those of year ago. Cotton has re-
acted somewhat from recent highest quota
tions, due to realizing sales.
arso To-,
Wardly dull narrow and professional to q
degree. Beneath the surface however, Wall
street was experiencing greater agitation
than appears in the limited fluctuations in
values, which constituted the actual trading
for the greater portion of the time. The
market has, in fact, simply been waiting for
matters OF Importance to develop. Mr.
Gould's illness and death ranked first in
effect upon the sentiment of those opera
tors who INDUCED in any activity. The
prospect of gold shipments, possibly, on a
large scale, has also been prominent factor
IN the proceedings. while the news from the
Monetary Conference was discussed with an
interest that shows how keenly the street
appreciates the bearing Of the financial and
currency problems (which confront the
country upon the ultimate course of values.
Opinions of De Rothschild's Plan.
1t must, however be noted that the Brus-
sells conference was influential mainly so
far as it affected sentiment. 1t had been
generally believed that the gathering would
be negative of results. The fact that the
only serious proposition for an interna-
tional agreement on the silver question
came from the English delegation. and as
submitted by member of the Rothschild
family, was eminently calculated to create
surprise, while the utterances of the
gentleman in question, indicating
plainly that failure to accomplish
anything at Brussels would be followed by
danger to the finances of the world, tended
to create a n impression that the possibilities
of successful result had been undercsti-
mated. The favorable impressions due to
the circumstances were, however, not last
ing.
It was quickly realized that the De Roths-
child proposition that Europe should pur-
chase 5 o00, 900 pounds OF silver year for five
years, involved no real concession on the
part of England, while it would commit the
United States for that period to the continu-
Rnce of the purchase OF S5, ,0OO, 900 worth of
silver.
Pittsburg Ninth in the Race.
The following table gives the Clearing
House returns for the week ending Decem-
Der !: