Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-06-25
THE BUSINESS WORLD.
Only Three of the Cities Note a
Change in Business This Week,
SAYS THE BRADSTREET REPORT.
Hank Uncertainty Still Exists in the Iron
o Wage Situation.
FIRES, FAILURES AND RAILWAY NEWS

ESPECIAL TELEGRAM TO THE pIsPATcH.l
NEW YORK, June Especial kilograms
to BradStreet'S report practically the same
situation, so far as general trade is con-
cerned, as existed week ago The ex-
ceptions include only st. Louis, Omaha and
Kansas City. These note more activity in
purchases by store keepers throughout trib-
utary territory, an improvement in collec-
tions and freer movement of building ma
terials, with an active demand and steady
prices for live cattle and hogs
At most large distributing centers the
movement of staple drygoods, clothing,
boots and shoes and hardware has been fair
for the season. Leather and rubber are,
likewise, strong at late advances. In
Louisiana flooded lands are reappearing
and word is sent that the sugar crop will be
larger, ana the rice crop twice as large as
that of 1891 On the Pacific Coast business is
very quiet. Rains have improved the crop
outlook in Texas. Agricultural implements
have been selling at Chicago at exceptionally
low prices.
The Iron and Steel Labor Problem.
A special investigation of the wage dis
pute between the Amslgamated Associa-
graphed to Brudstreets from Pittsburg, says
the outlook to iron and steel is uncertain.
Additional Western blast furnaces are blow
ing out weekly, and there are no signs of an
improved market ior raw material. On the
other hand, the tendency is toward further
weakening. Many mills will be idle during
July, and indications favor a lockout for
longer period Oh account of the scale Of
VA ses, a : operators and workmen are far
apart. Represen tatives of both say a stop
page for 60 days will be helpful Some of
Jhe most experienced and far-seeing of the
manufacturers agree that unless there is an
Improvement by September ], present low
prices will prevail into the spring OF 1898.
Renewed reports OF favorable crop pros
poets in some of the heavy grain-bearing
States, smaller clearances than expected
and listlesS home and foreign speculative
inquiry, tend 10 still further depress prices
for wheat. while Indian corn is 11@c higher.
Exports of wheat, including flour as wheat,
from all United States seaports this week,
as wired to Brddstreets. equal 2,457, $40 bush
els, aaainst 1886 346 bushels last week and
1906 All IN the like week of 1891 Exports of
Indian corn equal S9l 600 bushels, compared
with 9l5&7 bushels in the week year ago.
Montreal exports this week equal 27l, ,955
bushels Of wheat and u, ,l73 barrels of flour,
a decrease Of $1,000 bushels o. wheat for the
week.
The Situation In Wall street.
Gold shipments, which aggregate S. 5000
for the week and reports of unfavorable
conditions in the corn belt created very
NulA SlldT6 dI new laCer tD6
tone weak, Burlington shares making
especially sharp decline. Foreign parti.
cipation is at standstill. Bonds are firm
aud dull, with little reinvestment demand.
Money is more active on Change on renewals
incident to July l. Silver is weak on the
completion OF treasury purchases for the
month.
Returns of clearings from bank managers
at nearly 20 cities to BrddStreefs present a |
total Tor tie week of 81, 10l 600, ,OOO nearly q
per cent smaller than last week. but IL per |
cent IN excess of the total in the fourth week !
OF June, 1881. This gain, as COMPARED with |
last year, i, in spite of an approximate de- |
crease in New York City's bank clearings of |
ei92 $50 500, due to clearing operations at the 1
stock Exchange.
There were IJ9 business failures in the |
United states reported this week. Last week |
the total was l6l, and year ago it was 227.
Wool manufacturers have held aloof rom
markets Tor raw material to learn whether /
hlSh prices demanded West are to hold. New /
c4lp l. moving more freely. Ohio and Michi-
gan woods tend to higher prices. Raw cotton
i l-l6c of for future delivery, owing to the
lnenance of the anti-option bill. Staple cot
ton goods have moved freely, in some in
stances at concessions in prices. Print cloth |
mills are sold ahead into July, with the mar
Eet bare of stocks. Dress fabrics and wor-
steds are selling fairly we'll
The Outlook According to Dun.
z. G. Dun 6 Co.'S weekly review SAYS:
Another week has blessed the country with |
great improvement in the growing crops
In wheat so great change of condition ap-
lears that men begin to question whether
the yield this year will not closely approx
mate the unprecedented crop of 1891 For
other grain and cotton, the outlook is de-
cldedly better, and there is reason now to
hope for highly satisfactory results from the |
year agriculture. In consequence, there is
stronger trade throughout the country and
especially at Western centers of distribu-
zion. The improvement is less marked at
She South, owing to the very low price of
cotton and continued high water in some
regions.
The one point Of anxiety is in regard to
the wage dispute IN the iron manufacture |
winch operates for the present to cause in
creased trade, while in other great indus
Jlles the situation is clearly more favorable |
than usual. Inc iron manufacturers desire |
II revision OF the wage scale the ground |
that improved machinery has enabled labor |
TO produce 66 per cent more than in former
years ana has reduced prices far that the |
2cent basis is no longer just There is a lit |
tie more ground for hope that a prolonged |
strike may be avoided. Meanwhile the de. |
luand Tor all forms of manu- lactured iron |
and steel distinctly improves. There is q |
better demand for plates and for structural |
iron, prices being frmer, and some gain in |
bar lron and even in steel rails.
Pig iron is still weak and feverish South |
crn supplies being large, but Northern |
makers wait to see whether a strike is COM
ing before reducing prices.
copper Is Is cent lower, and large sales are |
reported at ll54 cents. lin has also taken a
sudden iaIl to ~ cents, and lead is lower at
40 III some tInsactions. Coal is dull and
outsiders are selling below the combination
pIices.
Pittsburg Sixth in the Bank Race.
The following table, compiled by Brad
streets, gives the Clearing House returns for
the week ending June 2S 1892 ana the per-
centage OF increase or decrease as compared
n Than "a i