The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-02-12


st. Paul company-to treat the Chi
cago, Burlington d Quincy territory as
the Chicago, Burlington d Quincy
treats the st Paul erIitory. The other
lines were necessarily drawn into the
reduction. 1t will necessarily be a
bitter and stubborn fight. What its
effect will be in this section of the
country it is yet too early TO even
hazard guess.
Lead has fuctuated little during the
week. Yesterday. it was quoted at
81 80. Silver, in Salt Lake. 95s4 in New
York, 9334.
Quiet has been the prevailing feature
in business during the past week at
nearly every interior point reporting,
and at the chief Eastern cities. Yet it
is estimated by K. G. Dun & Co., that
the volume of business transacted COM
parss fairly with that of last year to
date. Clearings confirm this estimate,
showing a gain OF about per cent. in
payments through all banks outside
New York. With little speculation in
any direction to swell transactions, the
sou of a moderate increase in legitimate
trade. Prices refuse to rise; though
meats and vegetables are shade higher
on the whole. there is little larger de-
crease in other articles, even retail
prices of coal at philadelphia having
yielded % cents. The general level OF
prices of commodities is now shade
lower than January lst.
Tho monthly StatomonfS ShOu q
heavy decrease in public debt. de-
crease of only 1888 Alb in the volume of
money in circulation, the deposits in
banks having increased 81 003 coo in
January, and a rapid return of silver
from circulation bel * overbalanced by
an increase of $S,OO0,000 in gold certif-
Gates outstanding. For the past week
changes have Deen small. Money is
easier. and in good supply at all inter
Tor points reporting, aud accumulat les
in New York banks so rapidly that
some six months loans at per cent
have been made. Slackening in manu-
features, and indisposition TO invest in
new enterprises, cause the plethora of
money here, and purchases of bonds
have increased of late. though in jan
uary the rerort was $50 527 500, against
$44, 123 600 last year.
The withdrawal of public interest
from the stock market is illustrated by
sales of only 29IS, 465 shares IN Janu-
sry. against 236, 129 for the same
month last year. Steadily widening
dlsagreements between lines both East
aud West, and rapid enlargement OF
operating eXpeDces deter investments.
Without active movement. prices have
declined about 25 cents per snare for
the week. Large amounts OF foreign
capital continue to come in for invest
ment in lands or mortgages at the West
aud South, particularly of late III
Texas, but statistics indicate that q
larger amount of foreign capital is at
present being withdrawn, in part. per-
haps from securities. Exports OF mer-
chandise from New York tor four weeks
have fallen only $50 600 below those OF
the same weeks last year. but imports
here for four wee show an increase of
L. l per cent.
The strike in coal regions has already
caused some bloodshed, several failures
IN the grocery line, and great suffering
and loss. Hopes for its termination
within sixty days are not more clearly
than they were two or three
weeks ago. For time, sitter tone
results in the iron maj ket, the best
grades being scarce and shade higher,
bat it is felt that general anxiety To sell
would appear if the strike should end.
NJ ore sales of rails at $3l so are reported.
but less than were expected to follow
the Pennsylvania lead, and the mar
zet for bar iron is disappointing. In
wool a distinctly better tone is seen,
with considerable buying cy msnufac-
.urers, who feel the improved demand
or woollen goods. But foreign COM
petition keeps prices very low. and the
WOOL season is so near its end that no
material advance in prices is expected.
staple cottons remain firm. but business
s limited b. scantiness of stocks; in
prints some advances ale reported.
The markets for provisions have been
inactive, with lard 25
cents per 100 pounds stronger. Cotton
has declined a quarter, with slender
sales. and sugar is an eighth lower, but
oil has advanced ~ cents to 90, and
copper 1615. The collapse of coffee
speculation lowers Rio fair 10 IS cents,
and there is shade of Improvement in
The distribution of groceries, especially
At some interior cities. Sales of corn
and oats have been small, and of wheat
only 10000 600 bushels, nearly all spec
llative, without change of importance
in either. Accounts not of speculative
origin indicate, however, that the winter
has not been favorable for wheat in
some parts o. the West. The uncer-
tainty as to action of Congress in tinan-
cal and tariff matters does not dimin-
Ish, and doubtless affects some branches
Of industry and trade, but the ways
and means committee is said to favor
purchase of bonds, even with half the
trust fund held tor redemption OF bank
notes.
The business failures occurring
the country during the last
seven days. as reported to R. g. Dun IL
Co.. number, for t. e United States 247,
and for Canada 80, or a total of 279 as
with a total of 317 last week,
and Ala the week previous to the last.
For the corresponding week of last year
the figures were 261, made up of 229
failures in the United States, and SO in
the Dominion of Canada.
Ore aud bullion.
The ore and bullion receipts at the