The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-11-18

ful, President Davis, of the Curbstone
Exchange, who is a staunch Republi-
can, says the election of Harrison must
have an enlivening effect upon the
miEing industries of the west; as re-
suits stocks will be quiokened some
what. Vice.President Nounnan, who is
of a different political complexion,
while agreeing with the president that
mining stocks will soon take jump, is
unwilling to concede that Harrison will
have anything to do with the rise.
A statement of the business trans
acted at the late meeting of the direc-
tors of the First National Bank of
Provo has reached us. The statement
of savings for the six months past was
presented and accepted. Earnings,
81. 912 40; expenses, Sl,306.10; net
earnings, $3,1O6.30. Out of the earn
ings, So $50 was added to the surplus
fund, and a dividend of per cent.
ordered to be paid to the stockholders.
5. s. Jones, of Provo, was elected to fill
the vacancy in the board of directors,
and the following resolution was
adopted: THAT with the consent of
the comptroller of the currency the cap
ital stock of this bank be increased
from $5U. 900 to $75 COO, the new stock to
be subscribed for at the rate of $110 per
share, making the total cost to the sub
scribers for the same $27 500, of which
amount 500 per share, or $25 900 to be
credited to capital stock, and $40 per
share, or 81 500, to the surplus fund.-"
In Idaho there is a mine known as
the Granite Quarry. 1t is great Curl
osity, and an anamoly to miners. 1t is
series of very rich stringers in rotten
granite. These stringers are from half
an inch to two inches wide, and there
are upwards of q hundred of them in
distance of thirty feet. BY assort-
ing close, 500 pounds of ore are taken
out every day. worth about $l25 per
ton. The owner works the property
alone, and as each week sees an i'm
provement there can be little doubt
but that he has a fortune ia his grasp.
The decrease of the public debt since
June 3eth, 1888, amounts to $685.
620.57.
The largest gold brick ever made from
a single Colorado mine was recently
cast at the Denver mint. 1t is valued
at $39, 219 81 in gold and 1862 81 in
silver. The size of the brick is 12L
inches long, inches wide, and 3%
jnches thick
The worlds consumption of sugar in
1SS7-S8 is placed by the London Econ
Omist at 5 ,107 900 tons. decrease from
the preceding year. or this amount,
2,407 900 tons was beet sugar and $780,
600 tons cane sugar. The worlds stocks
in addition are 200, 900 tons smaller than
at the beginning of the last sugar year.
The current years consumption is
estimated at $500, 600 tons, an increase
of nearly 100, 900 tons. NJ. LIGHTS esti-
mate of this years beet crop is 1885,
600 tons. With a yield of cane sugar
equal to last year the total supply would
reach :, $50, 900 tons,a surplus over con-
sumption of $50, 900 tons. On this basis
stocks in September, 1889, would about
reach the figures of September, 1887.
The Economist says, in conclusion,
"There would appear to be not much
room for 8 lower range of prices than
that now current" Refined sugar, in
the west, was marked down fraction
during the Week in consequence of
lower prices ia New York. In San
Francisco, beet sugar is coming for
ward fairly, and is readily taken. The
latest circular from New York says:
'The market has been dull, bvt with
little more disposition to purchase for
immediate wants. October has been a
disappointing month, as regards melt
ings, which have been 20. 295 tons under
October last year, and this fact has kept
the demand for raw sugar at much
lower point than ANTICIPATED, and in
fuenced unfavorsbly the quotations,
but this temporary condition is proba-
bly, near its end, or should be, as soon
as certain amount Of the new beet
crop has found q market. There is
always q pressure to dispose of the
earliest manufacture of beet sugars at
preceding years was followed by hard
ening prices. Total stock in all princi-
pal countries is 389, 764 tons, against
4S8, 123 tons at the same time last
year."
In the east, during the week Just
passed, the volume of trade has been
wonderfully well maintained, as it was,
in fact, during the whole political cam
paign, SO that the Presidential contest
of 1888 goes into history as having dis
turbed current trade less than any
previous contest. although it turned
largely upon industrial and CONNER
cisl questions, and was generally con-
sidered doubtful to the end. And this,
r. G. Dun & Co. think all the more re.
.markable, because in the months pre-
ceding those of political excitement,
speculation had been unusually active
and extravsgant. With the decision of
the people there has come a more con-
rfident tone in many branches of bust
ness, and larger trade with improv-
ing prices is usually anticipated as q
result of the postponement of very