The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-04-15


Mining Company Of Utah is expected
to take an upward shoot.
Collections from the country towns
still come in slowly, and the money
market in Salt Lake is in about the
same condition as a week ago-stiff.
but few loans being negotiated, and
these ct and 10.
The local stock market is beginning
to show signs of life, although not to
such an extent as might be wished, or
as may be looked for in q very short
time. Transactions during the week
were tame, and few and far between.
Those occurring are given below.
Hon. A. o. Smoot. of PROVO, was in
the city yesterday. He has recently re-
turned from a trip to the asphaltum
beds or mines near Thistle station on
the D. Il. r. G. w. He was astonished
to find such activity going on there, and
says that by the time the machinery
now there is placed in position, and the
company ready for work III earnest, at
least $3.50 900 will have been spent. The
gentleman in charge assured Mr.. Smoot
that nowhere in the world had such
valuable asphalt beds been found.
In the east, according to the latest
adyices received through r. G. Dun g.
Co., evidence accumulates of shrinkage
IN business during the past month, and
it is still uncertain whether it is not the
beginning of reaction. About half
the western and southern centres re-
port some Improvement in business for |
the past week, but as many report dull |
ness, with collections rather slow. |
Eastern trade IS not up to expectations. !
VI the great transporting companies. |
by water or rail, those to New England !
report larger traffic than that of last
year, when the movement was increased
by the coming enforcement of the inter
state act. Those to Il south report
traffic not az large as that of last year,
but excellent, with hopeful outlook
The great trunk lines from New York
shipped westward So, 4A tons in March,
against 40, IA last year, and east
bound shipments from Chicago for two
weeks have been 104, 800 tons, against
1855, 706 last year. The railroad earnings
oegIn TO show more losses than gains /
On the whole, the net loss for roaos re-
porting thus far being about per cent
or March. The shrinkagein exchanges
n March, outside of New York, was .
llso about 8 per cent. These evidences
II past sarlnkaRe are partly attribut-
Ible to the great storm, and partly to
Western strikes, which seem no longer
likely to cause serious disturbances. c
But a larger and more lasting cause is :
he prevailing uncertainty as to the
uture.
Monetary anxiety is, to a great ex-
ent, relieved. April payments caused
10 pinch; money markets, rather close a
It but few points, are nowhere seriously
EMBARRASSED; foreign exchange is
over, with no sign OF demand for p
money from abroad. Though the bond
urchase bill, as it passed the Senate. q
nay not be approved, it assures the
resident of ample power, and pur-
bases will therefore be made in case of
ecessity. But the decline in merchan- f.
Use exports for the past four weeks has ii
cen 2O% per cent, against an increase
f So per cent. in imports. or -four
nd wheat, exports tor five weeks have =,
cen shade less than half those of "
.st year, OF corn only 43 per cent, and N
f cotton COZ per cent. Prices. after L
1ree months of remarkable steadiness,
ere lifted by a variety of speculations
apjdly, but show weakness again: the
enerat level is now less than three ~,
uarlers of l per cent. above that of :,
anuary 1st, with improvement in farm 10
roductS MADE scarce by last years
rought, but general decline in manu-
ctured products. The Treasury III
eased its balances about 10000, 600 in hf
arch without causing pressure: for ca
e past week, it has taken in million &c
I'd half, while adding $1,000 to
INK deposits. Whatever it may be
ter, the monetary supply is not now a e
use OF difficulty. Is
The present shrinkage in demand or
r products may not last, but it is for a
g moment the chief cause of ,dulness.
the iron business a depression exists
eater than has been felt for years; wa
g suspension OF work in ten more +rs
ADJUSTMENTS is announced, including
Q great Edgar Thompson Works,
ar Pittsburg, and the Lehigh makers
a meeting have decided that, with
t lower fuel and fcelghts, they cannot $27
set competition from the south and
st. The price of coke, now nomi-
lily 81, enables western works to pro- 7
zee more cheaply; mill pig iron at 10,
ttsburg IS little lower. Wool has h.
30 been weaker. with fair volume of -"
ade, but manufacturers buy only for
esent needs. and the trade in WOODEN
DDS Is restricted. In cottons, the up
srd tendency has been arrested, and Ar
ough the best makes are firm and in wa