The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-02-05

contrasts with the official reports of
large movement to tidewater. The
companies not obliged TO stop work are
vastly increasing their output, while
many iron and other works which de-
pend upon the Reading and Lehigh
supplies of fuel have been obliged to
stop. Iron is percepsibly sustained in
price for the time by this enforced cur
taiIment of production, and several
southern furnaces have stopped for re-
pairs, but the feeling prevails that re-
sumption of work in the coal mines
may be followed by lower prices in iron.
At Pittsburg, Bessenner iron is 25 cents
lower; at Philadelphia, bar is quoted at
1876; and sales of $4,000 tons steel rails
to the a Pennsylvania are reported at
"over $3l at MILL" with sales of so 600
tons besides during the week. In all
branches or this great industry the de-
crease in railroad demand Is felt.
The success of the Atchison and some
other railroad companies in placing
loans, and the recent improving de-
mand for bonds, do not alter the fact
that sales of securities to actual inyes-
tors continue much behind those of
corresponding weeks last :, year. A
better tone in the stock market has
business is still mainly left to specula-
tors and the inability of promoters to
place securities may retard new rail-
way building for some time to come.
though current reports still snow large
gross earnings. The storms, the strike
and the recent disagreement about
rates, may be felt little later. In
other branches of speculation, the
tendency has been towards a lower
level; wheat has declined ent,pork 25
cents per barrel, sugar an eight and
coffee halt cent il AZ cents. but oats
have advanced / u cents. lard and hogs
are shade stronger, and tin has ad-
vanced q fraction. ' % =
There is a better movement in wool
out quotations average little lower.
Cotton is unchanged, while prices of
many makes of bteached and brown
goods and fancy prints have been adj
vanced, and print cloths are quoted at
81 bid for 64's. The boot and shoe
business is fairly active, with shipments
exceeding last years, and prices of al.
most all kinds of leather favoring buy
ers. The lumber receipts at and about
Albany are reported as 104 600, 900 feet
larger than for 1886, with stocks on
hand s Goo, 0v0 feet smaller than year
ago.
The Treasury Increased its cash last
week y, So 90. though it added 81 ,90O.-
O0O to bank deposits. The decision of
Secretary Fairchiid not to add to the
number of bank repositories. on the
ground that an increase in the deposits
above $50 ,001, 900 might prove source
OF danger, comes at time when money
is rapidly accommodating ut the Chief
centres, but the prospect of definite
action by Congress regarding the sur
plus revenue does not appear to i'm
Prove. ads
The business failures occurring
throughout the country during the last
seven days, as reported to l.. 6. Dun &
Co., by telegraph. number. for the
United States 263, and for Canada 40,
or a total of 81. as compared with a
total of 3I4 last week. and 2SS the week
previous to the last. For the CORE
sponding week oil last year the failures
numbered 271, being 236 in the United |
States and IS in Canada. .