The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-06-30

look has, on the whole, improved. There
is better feeling, with larger transactions
in iron and wool, and crop prospects are
more favorable. But the agreement Of
railway presidents has not prevented re-
newal of strife, and the decentralization Of
rates is spreading widely, and meanwhile
the exports of gold to day will exceed
81, OO0, 600. If the railway outlook con-
tinues to discourage foreign investors, and
the banks begin the last half of the year
with low reserves, gold going out, and large
crops to be moved, the monetary prospects
will not be quite encouraging. The pres
ent increase over last year in the volume of
payments through clearing houses is large
at New York, averaging 81 per cent. for
two weeks of June; not so large at Boston,
Philadelphia and Chicago, where specula-
ton is active but averages for the two
weeks 1873 per cent. and smaller, but yet
considerable, at the thirty remaining
towns, where the increase for two weeks
averages go per cent.
The markets for manufactured products
are stronger and higher, but there is feel
ing of doubt whether the improvement will
hold after the orders have been placed
which result from recent destruction Of
property by floods. In coal, recent hopes
have not been realized. Copper is I'M
changed, but tin is lower at 90 cents, pro-
duction having been stimulated. Wool is
rather stronger, 104 quotations averaging
$40 of cent higher and manufacturers in
some lines buy more hopefully, but in many
others the state of the goods market is still
given as good reason for buying no more
than enoughfor immediate requirements.
A long expected break in coffee lowers
the price IL cents with sales Of 500, 900
bags. But the price is still Is cents for
December options, against 81 year ago,
and operators wonder that the public does
not buy. Pork, lard and hogs are frac
ton lower, sugar unchanged for this week,
and leather 8 cent higher for some grades.
The general tendency of prices has been
slightly upward, but the advance averages
only Is of per cent. for the week.
The heavy shipments of gold are sur
prise to many, and are attributed by some
bankers to the needs of the Bank of France
and the large expenditures of Americans
at the exposition. But the balance Of
foreign trade has for months been so
heavily against this country that no such
explanation of gold shipments is neces-
sary. For June, thus far, merchandise ex-
ports from New York are 16 per cent
larger than last years, with imports some
what smaller, but even these changes
would leave heavy excess OF imports
over exports to be met by shipments Of
securities or gold. At present, the temper
of speculation does not encourage the be-
lief that buyers will take railway securi-
ties largely. On the contrary, demoraliza-
ton of rail rates is likely to be followed by
foreign sales. The stock market is little
lower than week ago, but with great spec
ulative strength still shown in the stocks
which have been controlled by powerful
combinations.
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 1875, and for
Canada %, or a total of 220, as compared
with total of $50 last week, and 225 the
week previous to the last. For the cores
ponding week of last year the figures were
and 2S in the Dominion of Canada