Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-03
Cholera the Marplot of Otherwise
Encouraging Conditions
In THE TRADE OF THE PAST WEEK.
a Brief Review Of All the Principal In
dustries and Markets
THE FAILURES AND RAILWAY NEWS


TINS city turned back because they were
afraid Of detention by quarantine here.
There is reason for the utmost precaution
against importation of the disease, which
national and city authorities are taking
with creditable energy; but there is yet no
ground for supposing that she, pestilence
will obtain foothold here this season. In
all other respects, business prospects are
clearly better than year ago, and nearly
all accounts show actual increase in busi-
ness.
Crop prospects are better, money is in
greater demand but in ample supply every
where and industries are producing more
than ever before. Fear that exports may
be curtailed BY the pestilence in Europe
has depressed the markets.
Wheat has dropped to 781k cents, the low
estpoint since 1888, and recovered only to a
Isll OF 2 cents for the week. Corn has dropped
~ cents for the week, with better Western
reports. Cotton rose shade, but has fallen
Oats have declined 1S cent, pork so cents per
barrel, lard 81 cents and hogs 90 cents per 100
pounds, and oils are Is cent lower.
The Result of an Abnormal Condition
The greater part Of these changes came
from the unnatural condition of the mar
kets. for some time held up in spite of ex-
traordinary stocks in sight. Wheat re-
ceipts in four days were 4, $50. 296 bushels, but
exports only 963 AIS Stocks OF cotton on
hand in this country equal two months con-
sumption and in Europe about three months
OF American, while current estimates of the
coming crop are constantly rising. 1t has
been evident that Europe will take less of
our products this year than last, hut pesti-
lence there will not greatly diminish the
need for food or clothing.
manufacturers in this country have never
been in better condition, on the whole, than
Uhat which reports now indicate. All the
textile branches are producing more and
consuming more material than ever, and
the demand has proceeded closely on the
supply. Most wooden mills are running
night and day to meet orders and cotton
mills are crowded, while stocks of goods in
sight are phenomPnally low.
The iron and steel industries resume full
production, though some mills are yet de-
layed by repairs. The demand for pig is
very good, while mills are pushed for bar,
plates, sheet and structural iron.
1t is enough to say of the wooden manu-
factures that sales at the three chief mar
kete since the middle of May have been
lO4, 453 900 pounds of wool. against So o05 600
last year, an increase of 25.S per cent Boot
and shoe shipments show an increase of S
per cent, and cattle receipts at the Western
markets show an increase Of % per cent for
the week and Il per cent for the year Thus
lar.
The State of Trade in tho CftI-s.
At Pittsburg the demand for finished iron
Is better and prices somewhat stronger At
Cleveland trade is good in rolled products.
5rygooGs, hardware and groceries, and ut
Cincinnati machine shops and ioundries are
pushed to their full capacity, exceeding the
last years production. At indianapolis the |
car movement is unprecedented and at De-
troit business is fair and money in better |
demand. Better demand FOR money is seen
at Milwaukee. Trade increases at St. Paul /
and Minneapolis with fine crop prospects, |
and lumber is verv active with prices strong
Rlaginess-ss ac at Omaha: satisiactorv
with large receipts or cattle and grain ut |
Kansas City, and strong at st. Louis, gen
eral fall trade being assured. At Denver |
business is good, and throughout the North
west reports as to collections are very fa-
yorable. Prospects are brighter at Little
Rock and business is improving. Tobacco
is very active at Louisville Trade increases
ut Memphis and also at New Orleans
though cotton is dull, with large crop esti.
mates. Sugar and rice are strong and active
with money in better demand.
Business failures throughout the country
Curing the past seven days number for the
United States las and for Canada 2s or |
total of l76. For the corresponding week of |
last year the figures were 2l7, representing |
ls7 in the United States and 20 in Canada
Bradstreets on the Cholera Scare.
BrodstreerS report says: No reports of
timidity of buyers owing to the cholera
scare" have Yet been received from the
interior. At the West some effect is rumored
with respect to the wholesale fruit trade.
and importers OF millinery, fancy goods.
notions, drygoods and other German prod.
ucts expect delay and fumigation of mer-
chandise at this port, which points to higher |
prices, due to checked or damaged importa-
tions. There is some advance reported in |
prices of drugs. Threatened restriction of
German and other European purchases of
Dreadstuffs and provisions has depressed |
prices of those staples in speculative mar
kets.
As indicated last week sugar is up lISc on
IHws and lc on refined with better demand, |
Restricted German supplies of beet sugar |
promise further advances. Large shipments
OF staple drNgoods, clothing, shoes, hats, |
and hardware are going into the |
West san Francisco has sent two more
cargoes OF barley to the United Kingdom.
Pig iron is selling more freely, but at even !
closer prices at Chicago and some other
points, though in some instances terms are Z
kept private. Bar iron retains its recent
drmness.
Exports OF wheat, including -four as
wheat, from United States seaports, both
COASTS, this week equal 324l050 bushels | ,
against 4, sos 200 bushels the week before and
as compared with 544l, $50 bushels in the
last week of August, 1891, with 1876 900 8
bushels in ls90, with 2,699O0 bushels in 1882 | 9
and with 2,S3l,0O0 bushels in that week of s
1855. Montreal exported s97, ,776 bushels of | q
wheat and 81, $50 barrels of flour this week
The Wooden and Cotton Markets.
refusing concessions and manufacturers {
having secured ample stocks. Carpet woods Q
ire strengthened by cholera reports. job =
Oers at the East did as heavy a business
Turing August as ever before, and have ,
light stocks. The mills are producing in ex-
cess OF preceding records Sales OF print
cloths continue to exceed the output but
the first surplus since June ] was reported
asst week. Mems wear woolens are being
ordered freely
The principal factor in this weeks stock
peculation has been a disorganizing one.
Apprehensions in regard TO the cholera have
dominated tile situation. The tangible IN
luence OF interruption to the country's ex-
'ort trade, with an accompanying derange-
nent of foreign exchange, proves to be even
more elective than what is hoped Will be
he remote danger OF the visitation OF the |
Epidemic. The nervous feelings Undue ced by
ms state of affairs began to display them
elves early in the week. Liquidation, cs-
'eclaily in the manipulated securities, which
ave been leading the advance OF prices,
'egau 70 appear Monday and Tuesday, and
Vhen on " Wednesday it was announced that
ases OF disease had appeared on a vessel ar
n which on Thursday almost attained the
.ignity OF small-sIzed panic. Prices have
uttered all around the list, althou tlg as
night have been expected, the principal de-
lines were in securities in which artificial |
ctyity and strength had created an ex-
ended bull interest which it required but
title pressure to dislodge.
Other Influences Depress Wall street.
Apart from the influence in question &c
light be claimed that another very import
MT element continues to enter with fncreas-
lg force into the tendencies of speculation.
Whether the hardening of money rates and
be prospect of high ana closer loan
larket during tie autumn months would OF
self have checked the manipulation and ,
import which has kent snecui. tton unon a | IA