The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-12-16

SltlOn IS the TACT that they 90 not con-
troll any of the Chill product, and also
that they are not in position to COM
mand any curtailment in production.
1t is said that the Calumet and Hecla
can draw from the Hecla shaft enough
ore to fill their contracts easily. The
Rio Tinto Company has closed twelve
are to act, however, only as commission
mel chants. The shares of the new
Paris-London Copper Bank are to be
offered for sale in a few weeks.
Money is plenty in the east and the
treasury reports show that the currency
in circulation, though $1,000 less
than on November 1, was about $751;
800, 900 larger December 1 than year
ego. But curing the week the treasury
has taken in So, 400, 600 more than 1t
has paid out. Exports of gold continue
without causing apprehenslons, as the
movements not likely to be large and
as considerable OF the precious can be
spared. In the northwest collections
are good, says BrddStreetS, but some I'M
easiuess is felt in portions of The south
west where they are reported slow, and
failures in Memphis are numerous.
Imports of merchandise continue to
fall behind those of the year and ex-
ports have been retarded by the high
charges for ocean freights as well as the
speculative manipulation of prices.
Railroad stocks have been depressed.
| Want of confidence prevails among
traders and foreign holders are gradu-
| ally dlsposing of their American rail-
way shares, but good railway bonds
| continue in active demand.
Our latest advices from Chicago by
mail are that "a, lie arrived in such
large numbers il the middle of the
week that there was not room enough
in the pens usually DEVOTED to cattle to
hold them, and the hog and sheep pens
were to large extent filed with cattle.
The usual numbers were purchased by
local slaughterers and shippers, but the
supply for several days was greatly ex-
cesslve, over 10000 cattle being offered
at one time. Such accumulations could
not be worked off in one day, and when
cattle had to stand for hours in the
chutes and alleys waiting TO be yarded,
many statesmen we're unable to sell
promptly. Altogether it was a good
week for buyers and bad one for SELL
ers, prices undergoing an average de-
cline of 40 and so cents per 100 pounds.
Three head of Christmas beeves
changed hands at 81, and early in the
week several lots of fat steers were sold
between SIS and $3.50, bat subsequently
no sales occurred above SIS, though
really choice beeyes are still quotable
at about So 10@5.35. Dressed beef
HrroS houo hnon Hin0 nj hoir
purchases below 81 20, and the better
grades have been taken by shippers and
exporters. Cattle selling below $3.50
generally averaged less than 1,200
pounds, those weighing between 200
and 1,400 pounds fetching So 5O@4,
while cattle going above 81 usually
weighed over 1 400. Stocker and feed
ers sold chiefly between So and So, and
any quantity of canning and butchering
COWS went for $1.15@2.90. Bulls sold
mostly at Sl.40@2 %, and plenty of
common calves sold at S2@2.50. A few
Colorado, Wyoming and Montana range
steers went for 50 .50@4.15, and Texans
sold at 81 .25@2.I0 for COWS and $2@3. 25
for steers.
Lead has been very quiet on all points
and the total sales for the week did
not exceed 1900 tons, or about half the
current output and consumption, for
normally the country makes nearly
$4,000 tons per month, and uses it all
up, but during the last half of No
vember future sales were enormous,
and the present lull is both legitimate
and healthy. Prices ran up to So 80 at
New York, $500 at Chicago and So 55
st. Louis, but at the close a weaker
tendency was developed and the price
fell off 81 per ton all the way around.
and the general opinion is that lower
figures will rule during the next four
weeks. The 10000 ton surplus which
the giant corner accumulated remains
intact, and unless miners see the wis
dom Of checking production materially,
this surplus Will hang like a dead
weight on the market for many months
to come. The indications are very
strong that producers will take this
action. London has settled gradually
until the price for soft Spanish touched
Ell It's Cd, and the outlook for any i'm
proVement on that point is Verv poor.
In Salt Lake lesd is quoted at So 70, a
decline of scents during the week.
Placer mines, which are yielding, $500
TO the pan are reported about 100 miles
south OF Blake City, on the Colorado
River.
Samples of clay from beds near the
Thistle Company's quarries, are on eS-
position at the Office of Evans & Spen-
Ger. The beds are owned by Mr.. Evans,
and test made of the article showed so
per cent. iron, 10 silica, 10 Alumni, and
10 moisture. The clay is very easily
worked, and when burned assumes q
cherry color and the hardness of iron.
Experts say that with the addition of
little more sand, which is found in
large quantities close to the clay banks,
there is no reason why it could not be
used for the manufacture of sewer pipes
and other similar articles, and that
bricks can be produced from it superior
in quality to any that are now imported
The local stock market continues
quiet.
Latest advices from the east are to