Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-07-30
THE BUSINESS WORLD.
Bradstrect's and r. G. Dun Report
Good Effects of the Weather.
IT'S A BIG BOOM FOR THE CROPS.
The Market for Manufactured Iron Ietter,
but Not for Fig Products.
FIRES, FAILURES AND RAILWAY NEWS


SPECIAL rELreRAM TO THE DIsPArcH.l
NEW YORK, July 2a-Special tendencies
toward an improvement in general trade.
as telegraphed to Bradstreas week ago,
remain conspicuous, although the extreme
heat for full week has had depressing
influence. Dispatches from Omaha, Du-
luth, Kansas City and St. Joseph indicate
that rains have fallen quite generally
throughout the far Western wheat and corn
growing States with good effect.
Galveston and Memphis, the trade of
which has been dull and unchanged for
months. now that the crop outlook is fair,
report moderate improvement in trading in
staples. The unfavorable reports are from
New Orleans, where country orders have
fallen of, though sugar and rice crop pros
poets are good, and San Francisco, where
the volume Of midsummer business is dis
appointing.
Lumber is in active demand at Mime
apolis and Chicago, and at most centers the
movement Of clothing, hats, shoes, milli-
merry and hardware for the autumn trade is
more active.
1h0 STATE Oh tno iron lrauO.
Philadelphia textile spinners report salts
factory orders. and Baltimore jobbers say
that so far as Southern accounts have be-
come due. they have been promptly met.
Prices of manu- factured iron at st. Louis and
other points West continue at the advance.
This is due to short supplies rather than bet
ter demand Pig iron is dull and steel
rails are rs high Ms for months past.
Reference to B,adstrests money market
oh oil fnh III n n0 m
at the West, due to the demand to move
grain and wool, together with slack collec-
tions in some instances.
The New York Iron League and the Home
stead lockout, with sympathetic strikes
West and East, remain in force, but exer-
else less effect upon the condition of gen.
year. The number of industrial employees
on strike or locked out within the past ls
months is much smaller than the total for
like period prior to 1891.
week show o decrease as compared with
last week, but a gain as compared with the
like week in 1891. Comparative totals show
decrease of Sc per cent this week, but ID
week o; July, 1891.
There were l6s business failures in the
week as compared with 179 last week and
200 in the fourth week of July last year. An
unusually large proportion of them contin-
ues to be of firms with very small capital.
The Grains, Cotton and Wool.
Exports of wheat this week, including
-four and wheat, from the United States sea-
ports, both coasts, as reported to Brddstreet's
aggregate Q, ,524, 900 bushels, q slight decrease
as compared with the preceding week. but
fully 100000 bushels less than were exported
in the fourth week of July, 1891, and only
272, 600 bushels more than were sem abroad
in the like week OF 1890. During four weeks
Of July, 1892 total wheat and flour exports,
as reported to Brddstreet's equaled 9, 800 900
bushels: in Jnlv. 1891, about 10 600 900 bushels,
and in July, 1890, about ,oCo bushels. In
July, 1889, the like total was about 5000 600
bushels: in 1885, about 1900, 600 bushels.
Wool prices are firm, with a good demand.
The bulk Of the clipping passed out of
Texas wools. Seaboard markets are heavily
stocked with territories. Drygoods are un-
usually active for the midsummer season,
notably brown and bleached cottons, for
home as well as for export trade,
Print cloths are firm at the advance, with
orders booked ahead to February, 1893. and
no stocks on hand, against $50 OOO pieces a
year ago. All and part-wool stuf1s are more
active. Cotton prices have advanced Hc on
the week on the promise of the failure of the
anti-options bill and better demand.
Bullish manipulation of the Industrials
and the assertion OF favorable speculative
sentiment regarding the crops and railroad
prospects have resulted in a strong and
some what active share market. The fear of
gold shipments held the movement some
what in check, but fails to affect its bullish
undertone. Foreign interests, however, are
Indifferent, and the market is pro fessional
and narrow. Bonds are in moderate de-
mand, with little inquiry for speculative
issues. Silver is weak and unsteady at a
decline in price.
Dun's Bright Crop Outlook.
R. G. Dun says: The weather has been ex-
tremely favorable for the growing crops,
excepting In limited districts, where damage
has been done by violent storms, and the |
crop outlook is, on the whole, decidedly i'm |
proving. Money has been abundant and |
cheap, and collections generally good for |
the season, and there are no signs OF threat |
en- ed disturbance.
Finished products of iron and steel are |
stronger and S. to S. per ton higher, but |
greater Generalization is expected in pig |
start speedily. Bar and sheet iron are very
active, and manufacturers of plate and |
structural iron have more orders than they
can well handle, but no improvement is
seen in rails.
The syndicate is said to have sold out all
its old copper, and the price is strong at ll15c
to 12c, but lead is weak with some sales ut
&c, and tin with quotations ut 2045c. Sales
of coal are not discoverable.
Money has been extremely easy at N per
cent, and from nearly all points come re-
The Treasury is gradually strengthening it.
self, as is needful, and is comparatively easy
at this season; but when the fall demand for
money to move the crops begins in earnest |
pressure in the money markets may speed
lily appear unless gold comes back from
abroad in large amounts. American buyers
of stocks are encouraged by improved crop
prospects.
Pittsburg Still in Sixth Pace
The following table. compiled by Brad
streets, shows the bank clearings for the
week ended July 2s, 1892, and the percentage
of increase or decrease as compared with
the corresponding week in 1891:
Inc. Dec. |