Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-04-30
THE BUSINESS WORLD.
Present Prospects in the South Not
Yet Very Encouraging.
LITTLEIMPROTEMENT ELSEWHERE
Brsdstreet's snd r. G. Dun's Weekly Re-
view Of the State of Trade.
FIRES, FAILURES AND RAILWAY NEWS
LITTLEINPROTEMENT ELSEWHER
FIRES, FAILURES AND RAILWAY NEWS
ESPECIAL TELEGRAM TO THE pIsr,

rsFEcIAL TELEGRAM TO THE pIsrATcH.l
NEW YORK, April 29.-The special inves-
tigation made by BraGstrest's into the dnan-
cial condition of planters and merchants In
leading cotton-growing States reports it on
the whole not encouraging as to the present,
although there are many sections in the cot
ton region where there is relatively less de-
pendence on cotton, and where floods or
'houth have not interfered, where planters
nd small merchants are in fairly satisfac-
.ory condition.
Planters report with great unanimity that
the acreage to be planted with cotton will
be curtailed, on the whole, about 20 or more
per cent, though it is not too late for plant
ers, where they can get sufficient supplies,
to plant more cotton than they have said
they would. Raw cotton declined fraction
ally this week, due to weaker Liverpool ad-
vices, based on expectation that planters
will plant more cotton than expected. be-
cause of the late advance in prices
No General Gain in Trade.
General trade elsewhere throughout the
country has made no special gains during
he week, except at few points in the
Northwest. 1t has declined at Chicago.
Unfavorable weather has checked the de-
mand for spring staples East and South.
Yarn spinners report no special demand.
Anthracite coal production has not been
restricted for May and the output in 1892 to
April q is nearly l,0oo, 900 tons more than in
q like share of 1891, the year of the heaviest
output.
Drvgoods and general merchandise sales
St Louis have decreased. Oak leather
Vest Is stronger, ana an ADVANCE In price Is
expected. In Ohio very little new clip wool
has been offered, and iron makers claim to
be reducing their stocks.
The weather has improved at the North
west, and roads there are again passable
Omaha's spring trade is holding up very
well. but further North merchants are
stocked up and are buying less. Higher
water in the streams has made lumbermen
busy. General trade has increased with bet
ter weather at Kansas City.
No Shutdown in Pig Iron Yet.
At leading Eastern markets no special
change is noted. There is no improvement
in iron ore or steel prices. Pig iron furnaces
are not shutting down to the extent lately
reported. Bessemer pig has sold at very low
figures.
Exports of wheat from both coasts this
week aggregate 3,259,0OO bushels, flour in
eluded as wheat, as compared with g. l07, 600
bushels the week before, and with 247,000
of Indian corn this week equal /, ,7S6OOO
bushels, against l,0l0000 bushels a week ago.
Wheat has tended to weakness since the
strength shown early in the week, due to de-
creased available wheat in the United States
and a1Oat in Europe
The shipment Of 500, 600 gold to Europe
early in the week, followed on Friday by
similar engagements aggregating 81, 500 000,
has checked activity in speculation and
afforded opportunity for bearish manipula-
tion in the New York share market The
sustaining influence of the very easy condi-
tion of the money market is, however, ap-
parent, and the absence of any hQuidating
tendency forces covering by the bears with
a corresponding Improvement in prices.
The Reading Company's March statement,
followed by an advance of coal prices, sup
ports the anthracite stocks, while the unex-
pected victory OF the Gould interest in the
election of the Union Pacific management
has made the stock a pivot of the market.
Bonds are firm and the demand tor invest
lent issues moderate.
Exchange CIearings and Failurea
Foreign exchange is irmer at the gold
htpping point, the supply of bills offering
eing mainly against transfers of specie to
Europe.
The bank clearings total for cities in the
United States this week is 81, ,0ss 000 900, about
4 per cent larger than in the preceding
week, but l3 per cent smaller than in the like
week last year.
Business failures in the United States this
week, telegraped to BradStreefS aggregate
l41 against 2U6 last week and l90 in the week
year ago.
staple cotton goods are moving freely both
Tor home and foreign trade. Print cloths
are stronger on reduced stocks at Fall River
and Providence. Woolen goods manufact-
urers have not, as rule, met expectations
Dealers are inclined to make the concession |
In domestic woods TO get old stock out of the |
way. Australian is firmly held. Texas and |
California wool growers are asking more |
for new clip than Eastern buyers will pay.
k. q, Dun Co.'S weekly review says: |
More More favorable weather in many parts OF
brought better reports of business. I'm |
doubtedly distribution has been much re-
tarded by the backward season and the con-
dltion Of country roads, and in some quar-
tiers collections have been slow on that ac-
count. This week the Improvement in such
quarters has been general, and meanwhile
the volume of business continues to surpass
all previous records.
More Hope tor Southern Trade.
Trade is gaining but little, and yet gain
ing at least over last year, and falling be-
hind only about per cent at the South in
the aggregate. Notwithstanding the great
depression in the price of cotton the vol
ume OF trade has been over 10 per cent
greater than in any other year at the West
though on the Pacific slope some decrease
appears. That collections are on the whole
satisfactory, the condition of the money
liaFketS anu reports from other cities clearly
show. In all parts of the country the sup.
ply Of money is abundant, but the demand
is not especially active.
AT Pittsburg no improvement is seen in
Iron, and pig sells fairly, but at low prices
while finished iron is produced in large
quantities, though makers complain of un-
prontable trade. At Cleveland trade is good
IN nearly ali lines, but in iron inactive.
Inc striking feature of the past week has
Deen the Immense and unprecedented trade
In dress goods. Flannels have been active,
the demand being earlier than usual, but
agents still lack their usual orders for mems
Woolens. Sales of wool at Boston, Philadel-
pima ana New York have been SS74s,576
pounds inns year, against 81, ,056, 426 last year.
gain OF per cent. Orders for boots and
shoes are many and pressing and shipments
gaining rapidly on last years being for the
year thus far only Ii per cent behind
better feeling is seen in iron, The West
ern demand Tor structural iron barbed WIRE
and pipe is very heavy, and large structural
orders are expected here. For the first time
in the history OF the country, exports of iron
products have exceeded imports in value for
eight months of the current fiscal year,
Pfttsburg Seventh in Bank CIearipDs
The following table, compiled by Brad
streets, gives the clearing house returns for
the week ending April 2S and the percentage
OF increase or decrease as compared with
the corresponding week last war.