Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-06-04
THE BUSINESS WORLD.
Western Floods Still Having Their
Effect on General Trade.
IRON is STILL THE UNDER DOG.
What Has Been Doing in Wall Street and
the Produce Exchanges.
FIRES, FAILURES AND RAILWAY NEWS

sissippi River Valley, as well as that il
Louisiana, has again suffered from rising
wafer with consequent check to trade ant
interference with transportation. Seriou
damage is threatened from the overflow il
the sugar district north of New Orleans
General trade in the region affected by over
flows may be unfavorably affected for littl,
time TO come
The customary slackness of business al
this season, is making its appearance in
some staple lines Leather, petroleum
sugar. lumber and rubber are in some better
demand, and sugar and rubber will probably
advance. Boots and shoes are in fair re
quest. but hides, tobacco, cigars and grocer
les are quite dull
The depression which has hung over iron
and steel has not been raised, sales of iron
having been made at the lowest prices OF
the year at Chicago and at Pittsburg, but re-
cent industrial troubles of moment are in a
lair way to be settled.
Live Stock, n. 7. stock and Grain St ocls.
Live cattle are lower at Kansas City, but
higher at Omaha Unfavorable weather has
prevailed in Missouri and Kansas. Duluth,
Chicago and st. Paul don't find that check
20 business from prolonged rains and bad
roads which has been noticed elsewhere.
At the New York Stock Exchange only
this week last. but from January j to
date the number is 4S, 900 against &c, 600
in 1891.
Dealings in cotton are steady, with Il, 000- :
O0O ba es futures and $1,000 bales of spot for
the year to date, as compared with 9.3000 900
bales Of futures and 26.46o bales spot in five
lponths OF 1891. Like totals for local trading
r wheat are 6S6, 100000 bushels futures and
45G54 900 bushels OF spot. against 754, ,225, 900
bushels OF futures and 1906 600 bushels of
spot wheat from January to June 5, 1891.
Advices to BrddStresT & as to grain stocks
show domestic and Canadian supplies equal
20 those on June !, lSSS, though larger than
on like dates in intervening years For five
months supplies fell away only 36.000 900
bushels against a. 100000 bushels four years
AGO. Our own and official data point to e27,-
OO0,OoO bushels to be exported in the cereal
year Gliding June 81, with reserves amount
Ing TO 65,000,0OO bushels July / next, twice
the quantity carried over July !, 1891.
The Financial Review of the Week.
Our kilograms from SO bank clearing
houses show a May total of 81 953, ,O0O, ,000 a
decrease OF II per cent as compared with
the total for January last. In 1891 the May
total was only per cent less than that for
January, while in 1890, year of business
activity, the May total was y per cent
larger than in January, and in 1889, per
cent larger than in January. Bank clear
oIcs for May, 1892, are smaller than in May,
l9O, being the first monthly aggregate this
year TO fall behind any like total for three
preceding years. For the week, clearings
chan last week, but ner cent more than in
5he like week in 1891. At the New York
Stock Exchange the settlement of S69 900
n transactions was affected by checks for
S!l9i4,S7l, an apparent reduction in the
city's bank cleaTings total of s57, AIS, 49,
Renewed gold shipments, accompanied by
Indifference and bearish tendencies, check
activity and produce a tendency to lower
prices. Rains and doubts regarding the crop
for hesitation and declines. Leading Indus
trials attract increased attention and show
Improvement on Discrimination to trade in
lalroad securities. The attack in New
jersey on the Reading coal combine fails to
impress Coal stocks.
Bonds are in good demand. Foreign ex-
change Is firm a or close to the gold ship
ping point, but the demand for remittances
Il .-ht and the engagements OF specie for
ezi 1rt, sl,2jo,oOo iell short of expectation.
Drygoods, Raw Wool and Cotton.
The active season in drvgoods is over, as
reelected in adyices from New England and
other points. Exceptions are at Cincinnati
and Omaha. Print cloth mills are sold
ahead in some instances, stocks being ex-
hausUed. Fall ginghams are being shown.
Blanket mills are sold ahead. Popular
makes of woolen goods are in fair demand.
Philadelphia wool spinners have received
lew orders. If not overcome by the June IA
London wool sales, the outlook is for higher
values for wool than last year. New clipis
selling West above parity with Eastern
markets.
N bDl Is more active, manufacturers taxing
Freely of old and new. Raw cotton is up 13c
per pound on renewed confidence shown
abroad, based, doubtless, on damage by
foods and reduced cotton acreage.
D9lV l63 bus siness failures in the United
States were reported this week, against Ia
last week and 233 in the week year ago. !
q. these Sc per cent were of concerns with |
capital not to exceed 5000 and per cent |
with ca pital between 5000 and $4,000. |
Exports oi wheat and flour as wheat from |
lutH coasts OF the United States this week. |
cd rn EVOls o
bushels, about Coz, 900 bushels more than |
last week, due to increase from the ports of |
bushels more than in the like week of 1891. /
Nontreal exported the equivalent of S0J 900
bushels OF wheat not included in the fore
going.
Tho Corn Storm Local at Chicago.
Official figures and our own totals indi.
cate a probable total of exports this cereal
year of -, 600 COO bushels of wheat and flour
As wheat about 40 OOO, 900 bushels more than
ever before in a like period California new
wheat Will not go forward freely prior to
Ju.yL Wheat has eased of on the week.
The CEica- o collapsed corner in corn has
satisfied the trade OF the existence of ample
supplies. The storm was local at Chicago. |
K. O. Dun Co. 5 weekly review says: The
zone OF commercial reports from various
parts of the country indicates that business
laS. 10 some extent, improved. Collections |
re better, and, excepting the bursting of |
.pccUlative corner at Chicago, there has
Eetu no GN DeCliil excitement OF any KIND |
business. The fictitious prices established
or corn at Chicago lasted just long enough
a. bring into that market enough of the |
.ctuaI grain to bury the spectators, and
lie corner broke with great losses, not |
merely to the operators, but also to the
brokers'.
Both at Pittsburg and Philadelphia pig
ron is weaker, and there are doubts
whether the bottom has been reached, |
lOugh al Chicago the market is consider
tDly stronger, and authorities hold that the
.tocks OF pig iron in the country are now
considerably lower than they have been.
he market for bars is weak at the lowest
i-UycS ever known, and the new demand
OF structural iron is not quite as large as
.as been expected.
The Treasury has been reducing its bal
nee, during the past month, paying out
more money than it has taken in, and in
0me quarters attention is called to the fact
U-tt its cash balances are lower than at any
& cr time since the resumption of specie
Uyments; but the supply of money abroad
s so abundant, and the demand in foreign
Oun rie~ so moderate, that it seems some |
-lat improbable that the drain from this |
ouutry viii be large at any time this sea-
On.
Pittsburg Eighth in Bank Clearings.
The following table, compiled by Brad
.rsct'S gives the Clearing House returns for
he week ending June 2, 1882, ana the per-
eptage Of increase or decrease as compared |
-itn the corresponding week last year: