The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-04-14

The course of events at New York has
not changed. Prices continue to sink,
though the volume of trade, both domestic
and foreign, continues large. Trade at in
terror points is pronounced dull or quiet in
nearly all cases. The money markets are
easy, with light demand at nearly all
points, and collections, though generally
rather backward, have improved some
what
Wool has declined for nearly all qualities
except New Mexican and Texas, which are
shade stronger: the average of 1O4 quota
tons is 24.S cents, against 25.l cents March
lst But it is thought that the outlook is
favorable for good demand when the new
clip appears, unless manufacturing should
continue Improbable. Depressing influ-
ences are felt in the several branches of
the dry goods and clothing trade, not the
least being the accumulation of stocks
which the open winter left unsold. The
demand for WOOlenS is very moderate, and
orders for importation are restricted.
The sales of copper abroad at about al
per ton, with no news of settlement be
tween the syndicate and producers, causes
stagnatiOn.
The most important change is the fall OF
235 cents in wheat, which naturally weak
ems as the dreams of expected famine give
place to the realization of large unsOld
stocks on hand. Reports from growing
and sowing regions continue to foreshadow
a large yield this year, and the demand
from abroad, though better since prices
fell, is not large enough to promise a clear
ing Of the surplus stock on hand. Corn
has advanced / u cents, export demand con
tinuing, and oats a fraction. The favor
able crop prospects, though disheartening
to spectators, tend strongly to sustain the
confidence of those who look for improve
ment in all branches of legitimate business.
The export business distinctly improves
already, and for the past five weeks the
value shipped from New York aggregates
S34 010. 900, against S25, 90l 900 for the same
weeks last year. Meanwhile, in part, be-
cause changes in treasury rulings are eX-
pected, imports have of late been a little
smaller than last year.
The apprehension of stringency in the
money markets about April list has now
passed, and the heavy liquidation in securi-
ties on foreign account causes as yet no
such withdrawal of foreign capital as has
been feared. Distrust as to some Ameri-
can securities does not yet seem to have
prevented continued Investment of foreign
money in other securities, in loans of many
kinds, and in industrial enterprises. The
generally prevailing belief that, il spite of
present low prices, the business of the
country is to be on the whole prosperous
this year, and that large crops will revive
trade of all kinds, has it natural effect upon
the minds of those who find no more prom
Using field for investment abroad.
The business failures occurring through
out the country during the last seven
days, as reported to r. G.. Dun & Co.,
number, for the United States 1S7, and for
Canada 35, or "a total of 222. as compared
with a total of $40 last week, and 249 the
week previous to the last. For the cores
ponding week of last year the figures were
227, made up of 1919 in the United States,
and IS in the Dominion of Canada.