The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-05-13

caSn ID the treasury by 81 UU,UUU dur
ing the past week. But the usual pay
ments for the first week of the month
have helped, and it is still uncertain
| whether the Secretary will be able
much longer to get enough bonds to
prevent accumulation of money. The
prospect of reduction of revenue does
not increase. At interior towns money
| is generally in ample supply for the
existing demand. A furry at Boston
carried the rate to per cent. for day,
but 1t has dropped back, and the settle
ments at Chicago we're unusually small
for May 1st. Foreign exchange is a
little higher, but merchandise exports
also improve, for i've weeks exceeding
last year by 81 per cent. As last years
excess of imports for April was over
SIG 900 COO, the comparison still indi-
Gates that exports of gold are only pre-
vented by foreign investments of CAPT
tai here.
/ The reports of trade from interior
points are not enthusiastic. Inactivity
or quiet is the prevailing feature, with
more frequent complaints of slow COL
lections. The clearings of banks out
side of New York continue to slightly
exceed those of last, but less than the
difference in prices, which implies the
transfer of slightly smaller quantity
of products, and the increase in clear
ings, moreover, Is due to two or three
cities in which speculation is especially
active; deducting Chicago alone, the
latest reports from all other cities out
side Of New York would show a de-
crease. The failures in April exceeded
those Of last year by 80 in the United
States-oyer 10 per cent.-but were
smaller than last years in Canada.
| Speculation in wheat has been rather
active, sales reaching $4,000 900 bushels
here, but the net advance in pric was
only quarter of cent, with the same
in corn, while oats declined half cent.
Reports of injury to wheat have be-
como more definite, but the telegraph
brings news of extensive rains at Den
yer, Omaha, and Milwaukee, and in
California the rain caused a sudden fall
of cents per Genital. Pork products,
hogs, and cotton are little higher, and
oil has risen IL cents. Coffee and
| fident. But wool and hides are a shade
weaker, and the collapse of the tin
speculation caused fall from about 81
to about 20 cents. Weakening in cop
per naturally follows, but it is supposed
that the syndicate has concentrated its
efforts in order to control that market.
Lower freights have been obtained by
Lehigh iron producers, but all the ben
eft goes to consumers, and No. l pig is
now quoted at $40 so, with the expecta-
ton that $40 will be reached at PhiIa-
delphia. The market for bar iron, even
at 1.8 cents, is unsatisfactory; plate,
structural, and sheet iron are all re-
quoted at 5000. The southern supply
of iron increases, and it is yet unde-
termined at what price in northern
markets the large new furnaces can af-
ford to sell. Anthracite coal is stronger,
production having diminished. The
dry goods business is more hopeful;
the buying for the fall trade at this sea-
son is regarded as encouraging, though
the movement is moderate and prices
unchanged. The general result of trad
ing for the past month has been de-
cline of nearly per cent. in prices of
commodities as whole, notwithstand-
ing the strength in grain and produce
markets. Stocks rose rapidly until
May 1st, when the average of prices
was about 81 per share above last
weeks and reaction within the past
three days still leaves prices about 70
cents per share higher than week
ago. Large earnings and foreign buy
ing, with the purchases of bonds, make
the advance not surprising.
The business failures occurring
throughout the country during the past
seven days, as reported to r. 6. Dun &
Co., number, for the United States, 209.
and for Canada %, or a total of 234
failures, as compared with total of
223 last week, and 1876 the week pre-
vious to the last. For the correspond
ing week of last year the figures were
1872, made up of l53 in the United
States, aid 90 in Canada.