The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-05-27

Gloomy reports still come from the
east. In spite of the Astounding and
unconquerable vitality of the country,
periods OF temporary hesitation, or
reaction, are inevitable, and one has
apparently been reached, says r. G.
Dun & Co. The country at present
is borrowing moro and pro-
ducing less. The local market for
securities depends essentially upon the
placing of bonds abroad and the foreign
demand for stocks, and both continue
But for the movement of foreign CAPT.
tai this way, to pay for bonds and
stocks, heavy outgo of gold would be
required TO meet the excess of imports
over exports. Success in borro wing
foreign money to pay for imports makes
the markets for securities strong, and
money here is perabundant. But,
meanwhile, collections at an increasing
number of points in the interior are
slow; the caution of buyers checks pro-
duction in important industries, and
crop prospects are not Gathering. For
the time, the tendency is toward de-
crease III production.
Later reports as to wheat have but
slightly modified impressions given by
the Bureau in its May statement. In
some localities, better weather has i'm
proved the outlook; but In others, the
unusually wet and late springs has
checked sowing. Present indications
Go not warrant expectation Of yield
much exceeding 400 600 600 bushels,
which, with surplus carried over, would
not permit exports much exceeding
LOG, 600 600 bushels, or 50 000, 900 bushels
less than last year S. The price is 224
cents higher than a week ago, with sales
Of 10000 600 bushels here, and an active
speculation at the west. Corn has
risen cents and oats cent, with lard
20 cents per 100 pounds higher, hogs and
pork unchanged. The speculation in
cotton, sugar and coffee IS checked by
the Indifference of buyers. OIL has
risen cents; copper and tin are
stronger, but the shrinkage in spring
trade weakens lead.
An important change in many direc
tons is the shrinkage in house building,
which appears at many points 80 to 80
per cent. below last years record. In
consequence, the demand for house
building materials and supplies is for
time reduced. The decrease in railroad
building affects other branches of in
dustry. The weakness in iron has been
recognized in a reduction of the cor
tract price for Thomas No. 1 pig to SIS.
which Is expected to cause a number Of
furnaces to suspend OF er atoms. No
change is noted in rails, but bar iron is
quoted shade lower. lhe competi-
ton of Southern furnaces. IN time of
shrinking demand, Is now important.
The dry goods market has not ma :
tarially changed. Restricted and band |
to- mouth dealings are the rule, though |
cotton staples gre steady, and some |
mills are able to report sa es much |
above last years. It is complained /
that the retail trade in some pt rts OF !
the country is backward, as is natural |
when crops and crop prospects are uu-
SO isfactory. Dress goods are quiet;
but some wOrsred mills about f'hiJa-
deIphia are expected to Gloss fer time,
and prices nf wool average shade !
lower than May 1st. The caution of !
buyers is S i'll felt in The boot ard shoe
sde which is entirely satisfactory,
though it IS said that prices are lit e