The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-09-29

susceptible of greater polish and quite as
obedient to the will and fancy of the artist.
Whether it may ever be developed so as to
be of service for building material proper
is matter that only the future can deter
mine.
Trade in the East.
Throughout the country, the state Of
business is encouraging, and the only dis
heartening features are in connection with
speculative operations. Stocks have not
quite maintained the recent advance, and
have relapsed into dulness. Speculation in
breadstuffs and cotton has been at
slightly lower range of prices, with but
moderate transactions, and slackness of
the cOnsumptive demand causes weaker
tone in coffee and sugar markets, without
material change in prices.
The reports from other cities last week
correspond fairly with the clearings out
side New York, which show an increase
over last year of about per cent. in the
aggregate. but an increase at two-thirds of
the cities. At Boston, a conservative feel
| ing still rules the money market, and bust
ness has not wholly recovered from recent
| set backs, but is improving in wool and
steady in leather and lumber. At Phila-
delphia money is active, and the jobbing
| dry goods trade continues good, the grocery
| trade improves, exceeding last years;
| the paper trade decidedly reviveS; the
! liquor trade is active, and drugs and chem
| icals moderately active, but in wool there
| is very little movement. AT Chicago there
! is a decline in receipts of wool and of grain,
| higher prices for wheat leading farmers to
hold back, but large increase in provi-
siOns. Trade in dry goods and other mer-
chandise is quiet, after the exceptional
activity of August For the year thus far,
trade exceeds last years. Milwaukee re-
ports constantly improving business with
active money. Kansas City reports bust
ness and collections fair average for the
season, and Cleveland increasing activity,
| especially in iron and ore, with prospects
of higher rates for money. At Omaha
great crops give good business and collec-
tions, and at Pittsburg further improve
ment is seen in l3esSemer iron and steel, In
coke and in coal, with resumption of glass
works at 515 per cent higher wages
Southern reports also are all encouraging
as to crop prospects and present trade.
These specimens illustrate the general
tenor Of reports, and it may be added that
there is no where any stringency in money,
the supply being ample for legitimate
needs. At New York, the rate has been
higher, but the demand for loans on collat-
eral is amply supplied; on the other hand,
commercial paper is of slow sale, and few
banks are buying. Foreign exchange has
dropped half a cent, however, and possible
tiles of gold exports appear more remote,
while merchandise exports for three weeks
exceed last years by 81 per cent, the in
crease in imports meanwhile being but 3
per cent.
The great industries appear to be grad
ually improving in condition. While the
improvement is slow in wool manufacture,
there is clearly a more active demand at
Boston. But the larger movement. mainly
in fine washed fleece, has been secured by
concessions in price.
The partial failure of potato and fruit
crops, and the injury to butter by recent
storms cause an advance in prices, and the
general average for commodities is now
about per cent. higher than September
1st. The unprecedented movement of cat
tie and fresh beef to England attracts much
attention, the exports having been over
1000 head of cattle and 10000, 600 pounds
of fresh beef within three months ending
with August, besides 34,0OO,0OO pounds of
cured or canned beef. With the National
steamship line engaged in transporting cat
tie rather than passengers, this movement
seems likely to increase largely. And it is
noteworthy that the export trade, though
barely maintained in some important
branches, steadily brOadens by large IN
crease in minor items not hitherto impor
tant.
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. III, and for Canada
81, or total of 19S, as compared with a
total of 1913 last week, and POI the week
previous to the last. For the correspond
ing week of last year the figures were 22S.
made up of POO in the United States, and y
in Canada.