Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-05-28
THE BUSINESS WORLD.
With Western Floods Declining, the
State of Trade Improves.
THE AGGREGATE LOSS 100000.
Strikers Have Not Increased in Number
Huring the Past Week.
FIRES, FAILURES AND RAILWAY NEWS
ESPECIAL TELEGRAM TO THE DISPATCH. J

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NEW YORK, May 27.-The vast expanse
of high water West and Southwest appears
| to be receding with which improve ment in
general trade follows. More favorable
weather is quite general, interior roadways
are drier and collections have improved at
many points.
The volume of business has increased thus
early, except at Chicago, st. Paul, Omaha,
New Orleans and other points. A fair vol
ume of trade is reported at most, if not all,
other large cities.
Wheat lost its recent strength, with loss
of 19sc this week. Corn, too, is down Ac,
and oats 1Nc. Sugar has been firmer and
little higher, but pig iron, despite the re-
cent rumored improved inquiry, remains
depressed, with sales reported at as low or
lower figures than ever before recorded.
There is nothing new in petroleum, which
tends to lower prices.
The Effect of the Tannery Shut Down.
Boots and shoes are quiet, but leather is in
better request from some Eastern factories,
and hides are positively stagnant since the
shutdown of Eastern tanneries. Recent
hot weather in California has helped fruit
and grain there.
Special advices to Brddstreet's from regions
affected more seriously by floods, point to
an aggregate loss in five States of S32 900 900,
which includes damage to railway property,
destruction of or damage to levees, to farm
buildings, machinery, live stock and crops,
as well as loss on other property. Louisiana
and Arkansas have lost less in this respect
than has been reported and Illinois and
Missouri probably more. Losses i'll Iowa
and Kansas have been greatly exaggerated.
Raw cotton prices reacted, but have recov-
e.
creased cotton acreage reports. Cotton
goods are quiet, except print cloths, which
are firm at an advance, with the output of
New England mills engaged ahead for two
months.
Wool is in light demand, owing to scarcity
of stocks East. The weather has delayed
forward slowly. Woolen mills at the East
are fairly employed on tall ORDERS but at
Philadelphia some wooden manufacturers
are running on short time.
No Increase in Number of Strikers.
The record of industrial strikes, as re-
ported from leading manufacturing centers
to BrddStreets, shows comparatively few adj
dit ions within the week. The 20 odd new
strikes are chiefly among the building
trades. and comprise, all told, not to ex-
ceed 5000 to Thursday night, which total
has been nearly OF quite offset by strikes
en- ded within the same period.
About So per cent of the business failures
in the United States this week were of con-
Germs having capital not to exceed $1,000,
and II per cent are of those with capital be-
tween S., 900 and $4,000. The total number
failing this week is III, against 156 last week
and 2S4 in the like week a year ago.
Exports OF wheat from the United States
this week. including flour as wheat. amount
to only :, 2,2s9, 900 bushels, the smallest weeks
total exports of this cereal since July, 1891.
In the previous week the total was 1908, ,s94
bushels, and one year. ago the aggregate
shipped in the fourth week of May was
,349, 900 bushels. Thus for the first time
within ten months the weeks wheat ex-
ports are smaller than in the corresponding
week the year before.
Bank clearings for six DAYS ended Thurs
day night, as wired to BrdistreefS by Clear
ing House managers at 81 cities aggregate
S., Ia, 900 600, which is per cent less than in
the previous week, but II per cent more
than in the like week in May, 1891.
The Stock Market More Favorable
Favorable weather and crop reports from
the West have changed the temper OF the
speculative share market from o decidedly |
bearish to a moderate bullish one. The |
strength of the coal stocks due to an ad- |
vance of price and fairly good April earn
ing statement by the Reading Company, |
causes advances in that group. The Rich |
mond Terminals reorganization is to be |
confided to a banking house exceptionally |
successful in such matters and q recovery |
from depression in the stock has followed. !
fOrelgn exchange is higher on the eX- |
haustion of the bills created by last weeks |
bond sales in Europe. Bankers regard gold |
shipments probable next week. The |
bond market is featureless, except for the !
activity of Atchison incomes on the pro- |
posed conversion.
r. G. Dun & Co. say: There is little new in |
the great industries, though other than |
standard brands of iron are much depressed. |
No. Southern paving sold low. Bar iron is |
irregular and plates demoralized, but wire |
rods ore firmer and mills sold far ahead, and
the demand for structural iron is large. At |
Pittsburg iron is a. shade weaker, but the
output of manufactured iron is very large,
though at low prices. The hardware trade
is good and the window glass works will run
to the end of June. Heavy sales of steel |
cotton ties have been made at cents deliy-
cred, the lowest price ever known.
PittsburS Forges Into Seventh Place.
The following table, compiled by Brad
streets, gives the clearing house returns for
the week ending May &C. 1892 and the per-
centage of increase or decrease as compared
with the corresponding week last year:
New York k...............s 677,S44 sos lib .... |