The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-11-11

value VI CnS property Whatever IL may
be, will be ascertaIned. We under
stand that the mine will shortly be ex-
amined by some mining experts. The
price of the stock this week has ruled
at from IS to co."
The in terruption of trade in the east
was. of course, greatly increased dur
ing the week, and yet our latest advices
show an increase over that of last
year for the same period. The single
fact that bank exchanges outside of
New York exceeded those of last year
by 1917 per cent, the clearings of last
year being exceptionally large, proves
that the volume OF business is unpre-
cedented, for only part of the increase
can be attributed to excess of specula-
tive operations. Indeed, the specula-
tive markets appear to have been more
affected by political interest than other
departments of business. The reports
from interior points indicate marked
but at Philadelphia, Pittsburg and
Kansas City the prevailing quiet was
attributed to political excitement. The
U4OuO1 MUS appeal VIGIL 6upp1lCu oI
nearly every reporting point, with the
usual rates maintained. The dry goods
trade has been comparatively quiet, the
demand for mems wooden and knit
goods being moderate, and for dress
goods quite irregular, while cotton
goods are generally frmer without large
transactions. 1t is reported that an ad-
vance of cents in carpets will be soon
nffanfn6 Tho haa kol -,
during the week $4,000 900 more gold
than It has paid out, but has put out
So 100000 more silver certificates and
legal tenders, and the money market is
fully supplied with low rates un-
changed. The exports increase a little,
exceeding those of last year for the past
four weeks about per cent, while the
imports fall below last years per
cent. The business failures
occurring throughout the country
during the last seven days, as reported
to r. 6. Dun & Co., number, for the
United States. 243, and for Canada 80
or total of 275, as against total oil
254 last week, and 224 the week previous
to the last. For the corresponding
week of last year the figures were 245
made up Of 225 in the United States
and 20 in the Dominion Of Canada.
The great English salt trust is an &C
complished fact. All the leading sal
manufacturers in Great Britain have
combined, and have capitalized theil
properties and works at the handsome
figure of $500, 600. The working
capital of the trust has been fixed al
93OO 600, so that the total capital of tht
concern is $4,000, 900. OF this nearly
one-half of the ordinary shares, which
amount to 100000, are reserved BY
the existing owners, and the public
have been invited to subscribe the bal.
snce of the ordinary shares, FL 900 600
7 per cent. preference shares and FL, :
600 900 Az per cent. debenture bonds
There has been no hesitation on tn,
part of the English investing public tt
. avail itself of this chance to become
partners in a trust, and whether in con
sequence of the arrangements present
ing themselves as complete, and tn,
anticipated profit secure, or because oil
the strong financial backing possessed
by the scheme, the result to the pro
moters of the enterprise has been very
satisfactory, and it is reported that the
total application for shares reached tn,
enormous figure of $3.50, 100000. TIL,
promoters of the trust estimate tn,
production of the salt works included
in the combination at 1000 900 tons o.
salt per annum, and on this they calcu
late q profit of five shillings per ton Of
nearly double the actual cost, which
would give a return of about 20 pc
cent. on the ordinary shares for divi
, dends and reserve, after providing TO
} preference and debenture interest. 1
is clear that the public believe in til,
possibility or probability of this, for il
addition to the enormous application
for shares, the price of the shares is al
ready 80 per cent. premium above tn
price of issue. If the trust maintain
this estimated profit of five shilling
] per ton, the chemical works, which ar,
: already in a bad way from overcom
t petition and depression in trade, woul,
, be quite unable to compete with tn
/ German works. The English sal
trust will benefit the chemical industr,
in this country by raising the price o
7 English chemicals, and in this interes
we wish it success. But if we are no
greatly mistaken, 1t will not be long be
, fore salt from new wells in Englan
and, perhaps, foreign salt also will com
in at price which will cut down tn
profits of this trust, unless, indeed
free trade England should impose
duty on salt to protect the trust;
very improbable event. The dear rub
lie will, of course, then hold the share!
Ore and Bullion.
The ore and bullion receipts at tn