Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-05-07
THE BUSINESS WORLD.
Bradstreet'S and Il. G. Dun Say Bad
Weather Is Retarding Trade.
A GREAT ABUNDANCE OF MONEY.
The Usual May Strikes Are Not Nearly So
Numerous This Year.
FIRES. FAILURES AND RAILWAY NEWS
ESPECIAL TELEGRAM TO THE pTsPArcH.1

crease in the volume OF general trade, due
in large part TO cold, stormy weather West,
Southwest and Northwest Country roads
there are no better, and collections in gen.
eral are only fair. Work on the farms is
reported 10 be a fortnight late, in some in
stances later than that.
The exceptions are New Orleans, Men,
phis and Baltimore, where moderate in
crease in orders for plantation supplies are
noted. At the East trade drags little,
though staple cotton goods, clothing and
cheaper grades of hosiery are exceptions
Cincinnati as well reports fair volume of
trade. New York, Philadelphia Boston,
l'ittshurr, Cleveland Chicago, st. Louis,
Kansas City, Omaha and St Paul tell of
fewer orders received by wholesale dealers.
Lumber lacks snap at most markets;
boots and shoes are dull, leather declining
and hides depressed Coffee is lower on
expected new crop arrivals and -four prices
are lower
bank Clea-ings for Week and Month.
The bank clearings' total this week for 6S
ci,.es Is sSl2>L0Jo,ogO. 1611 per cent larger
1.au last week but per cent smaller than
IN the FIRST week OF May, 1891. Bank clear
lu-s at ii cities Tor April, as wired to Brad
s,re.ts, aggregate $5,O0,oOO,O0O, or SIS per cent
cuare than in April, 1881 At New York City
1le months increase was g. per cent, rela-
lively greater, owing to prominence Of Wall
street Transactions. MONTHLY totals of bank
Cicarlu-~ have steadily declined since Janu-
aIF. 'He increase oI the t"iai Tor lour
1noHtl~ over last wear l. lS.5 per cent, and at
New ok alone, 81 per cent.
In Anril total ClearinGS ut cities other than
! nor 81 la rs,rHr ST
Year, W-.5le Tor four months their aggregate
was 30 per cent in excess. New England,
Southern and Pacific coast cities show
smaller April totals This year than last, while
ro lI- .ar Ciles Di the Central, Southwest
a"d Northwest are larger
H}ryeIrcnts CT y yhcat at Home and Abroad
Exports of wheat and flour as wheat from
hu-I COASTS thiS week equal 5Sjl,0 COO bushels
2rner cent more than the total week ago
;.uG o. peI cent more than in the like week a
NclrggO.
TIE Beer5ohn cable to BradSreet'S enables
-Ee latter to point out that, while available
sle. Ks OF wheat in America, ,afloat for Europe
and in Euronn aggregated I25,0O0000 bushels
on May J. 2LvG0.O30 bushels more than one
-eaE ago Hud 50 yUJlOOO bushels more than
Iaicc years ago trom OEe-half to one-third
C.the~" increases respectively are held in
this country. The total net decrease of
European. American and afGat available
wheat within four months was S0000,000
1'c same ae IN l~!o. The like decrease in
1oVr months of 1852 was a, ,J03 COO bushels.
Ilu point J. made THAI only serious crop
'alaa-c nr loss Is liNe!Y to have permanent
iH .Unce in advancing wheat prices in the
l..s- UruTe At the present rate OF export,
-Gu u.;ed States bid 1air 70 meet demands
easily prior II JUly l. and carry over more
10 Lstlt I..an was held, visible and invisible,
U.uH year :i-o.
sock speculation at New York is at a
deadlock. TAe continuance of gold ship
lIear> checks any decided Improvement In
prices, while the ease of money i an OBJ
staclc to successful bearish speculation.
The drop in SUGAR stock was due to the
lTH-irG OF suit against the orsanization
NH-cr the antitrust law.
The Gold Export Situation.
Foreign exchange is shade lower, but
European oyders for gold remain to be
filled No shipments of specie were an
ltoUuce tail late in the week, when an ag-
Ero-atc OF s. 900 WAS taken for export bv
to-day'S steamers. The apparent lnsensibH-
i.y oI the money markets to the outflow of
gold l. recognized by eminent tinanciers.
II. ". Cannon, President of the Chase Ma
tiouai Bank, states TO BrGdStgeet'S he does
MOT tInk -olG IS being huarded appreciably,
1tuuwh sales OF ouT securities by foreign
holders due co ears of silver Legislation, may
have lclDcG the export movement \ mem
4er OF one @. the most prominent mtcrna-
1i,lal banking firms declares that the over
supply Di currency tSi,JlOOJO monthly de-
presses interest rates and removes Il check
oH tine ability of foreign countries to draw
gold from 'l~. J. Edward simmons, Pres-
dent az the Fourth National Bank, thinks
Z Ha present outward movement will not eN-
coed -..I. 1900. George :. Coe, President of
lGc American Exchange National Bank is
confident the present gold export movement
rst,l not Er large: he says the Old World has
largely paid for OuT grain with stocks and
I..,- is, aud a reaction is not unlikely TO
Cr.cs the low OF gold soon.
There were lG6 business failures in the
Tuired states this week. about the weekly
..v.r rage lur this period in previous years,
o.. uicE > per cent were OF traders with
- 9oy "uital OF less.
I1ay strikes Fewer This Year
Special returns as TO industrial disturb
gace- within a week point to % strikes at II
C...g-. iuTulvin-. i, ,5SJ employees. as compared
-r..u 44aaJ striking in the first week of May,
-~.l. and 1900 in 1880 Nearly 5000 striking
c.af-ave- were among the building trades,
:.u 4 4.5l) were Of quarrynen and stone cut
-sr- iu New England, against change in
.l~ OF contract FOR wages The New
En--an3 Granite Manufacturers Associa-
1..a. to cu uroe it, position, threatens a
Iurl-out o. 5000 employees next week. With
-e" exceptions causes OF strikes we're de-
1-.-u~ for higher wages.
Tine ,G. nCt OF mills working on staple cot
1aa -oous = taken readily. Stocks of print
cloths are further reduced and prices are
l.-l-r No0'cns and UOrSteGS are in fair
roauc-- particularly patterns. Raw cotton
spot. probably as much a anything else on
account Of reduced acreage. because the
C.."r UnUenceS-increased receipts at the
l1.i~ and a strike OF English spinnerS-Were
decidedly Bearl>h. Tie shorts have been
uneasy. tnu purchases 70 cover will proba-
l.. explain tie moderate advance.
L'A&oh i-dN noes oi wool prices fail to
stimulate prices of domestic because OF
abundance il SigHt ana Offering Manu-
-ac-uIers are buying sparinsIy.
Ii. q. Eun's Gevicw of The Week.
q. c. Dun & Co.'s weekly review saws: BUS
iuess has been much retarded lhrounbout
most Of the Western States by unusual and
continued rains. \ somewhat better tone ap.
pears at the south, and business at the East
Is fairly active for the season, although in
some lines IL is duh and depressed. Money
BE- everywhere abundant, in part because the
ae.a;.nd is smaller than usual, but this is in
&. measure due TO the unusual conservatism
90. tlc trade, buyers making many small
purchases instead of larger purchases, and
.. Ting more carefully tor actual Gistribu-
lHa. This i peculiarly the case in the dry
HA- i.E Boot and shoe trade.
-un iron trade SHOWS larger transactions
IEt no better prices. There Is Il larger bust
l..-+ AN plates, though at demOraliZed prices
-Hre inquiry Is seen for rails. Iron Is
liiy weaker at Pittsburg, and the glass
d. Jog IS not pushing, but the hardware
.."Hg Is exceptionally good. The demand |
l". coke Is shrinking and prices are cut.
W neat met the expected reaction, selling |
. p. ana recovering &C. Corn has risen |
go" IS tn small sales. and oats half Il cent. |
cotton Is "a sixteenth higher, though re- |
''. l's aad exports exceed last years, be- |
'... ..-rnf sensational accounts of decrease in |
#,.' -a- Pork products are a shade lower, !
..H ""ttc weak at three-eighths decline. |
."-'ln-- 81 cattle at Chicago in April we're |
tie largest ever known in that month, ex-
c'.HHa- last years by l5 per cent.
t''a has been large speculation in tin, |
i1oar0 i.fa Il.