Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-06
THE BUSINESS WORLD.
A Moderate Volume of General Trade
Shown by Bradstreet's.
R. G. DUN REPORTS IMPROVEMENT,
Except That Foreigners Are Drawing Gold
From the Country.
FIRES, FAILURES AND RAILWAY NEWS
ESPECIAL TELEGRAM TO THE DISPATCH !


NEW YORK, Aug. Especial kilograms
to BrddStreet's show that at most commercial
centers general trade is of customary mod
crate volume, without special activity,
though there are some exceptions Boot and
shoe manufacturers at the East and West
are very busy, as are agents and iobbers of
staple drygoods. Lumber and leather are
dull at Boston.
Charcoal pig iron is stronger and South
ern coke iron weaker. Gray forge has sold
in Chicago at S11 so spot cash, the lowest
on record. At leading iron markets struc-'
tural and bar are stronger and higher, ow-
ing to decreased output due to strikes and
lockouts The labor disturbance at and
near Pittsburg has largely quieted, through
the praSca failure of all that the strikers
or locked-out men have been contending
for.
Stock speculation at New York shows
more or less activity, with a strong under
tone and advances in industrial shares and
railroad specialties Speculation seems
largely responsible for these manifestations.
Conflicting crop reports the entire absence
of foreign support, and, above all. fears OF
further extensive gold exports, tended TO
check advancing tendencies.
The Financial and Grain Situations.
Exchange is steady, but shows weaker
symptoms on increased offerings of bills
against renewed foreign speculations in the
grain option market. Silver is dull, weak
and practically lower.
Available stocks of wheat, United States
and Canada, both coasts. show a net increase
OF about 200 600 bushels for the fortnight
ended July 80, against an increase of AGO.
ODO bushels in the latter half of July, 1891,
pointing to the comparatively slow move
ment of this years crop from first hands.
Tele-TanIs from st. Joseph, Omaha and
other Western and Northwestern centers
report wheat crop prospects excellent. Ad-
vices as to decreased yield in the Northwest,
with better cables, tended to push prices up
&c. on the week, while Indian corn and
oats, with admittedly decreased yields, ad-
Tanced respectively &c and $50 per bushel.
Exports OF wheat, and flour AS wheat, from
the United States, both coasts. this week
equal fully 397S 696 bushels, as compared
NIh 4 03O, 900 bushels in the like week 1891.
Bank clearings totals or seven months
show total of 49,, ,5l2, &c lS2. nearly IA per
cent more than in seven months of 1891, 2
per cent more than in 1890 and ner cent
more than in a like portion OF 1889. For
July, however, the record was less favor
able, the total being S4, $685. .426 924. or 81 per
cent more than in July, 1891, anu per cent
less than il July, 1890.
The Inroads of the Stock Exchange.
The apparent reduction in the July total
OF bank clearings due TO Clearing House
operations at the New York Stock Exchange
il said to be S263 257, 400.
Business failures in the United States this
week number l55, against 163 last week; 2ls
in the first week of August. 1891, an d 155 in
that week o. 1890. Relatively few failures
are being reported from the South each
week than FOR months prior to recent weeks.
Stocks OF wool at Boston, New York and
Philadelphia are said to be larger than ever
lsefore at a like perio |, and manufacturers
are busy making selections at fairly firm
prices. Cot on mills have orders on hand to
Keep them busy for weeks. The demand for
eavv wooleus has increased rapidly. Raw
cotton has gone off &c during the week on
favorable crop reports.
r. q. Dun Co.'S weekly review SAYS: In
every respect save one, the business outlook
distinctly improves. The heavy sales OF
American stocks by foreign holders con-
time and draw large amounts of gold from
the country, indicating foreign distrust of
American finances.
1t is within the mark to say that the VOL
ume of trade in July, as indicated by Clear
ing House exchanges, is fully Is per cent
larger than last year and greater than in
any previous year, in spite of the decline of
per cent in prices since year ago. I'm
over 10 per cent the past month, which is
proof of great activity in domestic manu-
fac;ures and consumption.
Pig iron is, on the whole, no weaker,
though Bessemer has sold at Pittsburg for
SlS 80 and Southern sales at Chicago have
depressed gray forge to Sl2, equal to 50 10 at
Birmingham. The demand for bar is more
active, and plate, sheet and structural mills
are crowded with orders.
rittsburg Seventh i'm Bank CIearings. =.
The following table compiled by Brad
Streets gives the bank clearings for the
week ended Aug. 4, 1892, and the percentage
OF increase or decrease as compared with
the corresponding week in 1891: