The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-12-21
Trade in the East,

The business outlook in New York is
more hopeful. There have been numerous
failures, and is still much pressure. but the
supply of money has so improved by treas
ury purchases of bonds, and by shipments
of gold from Europe, that there is more
ground for confidence and some actual i'm
provement. Until after January 1st, not
much relief can be expected, and fears of
urwise legislation continue to cause much
WjtndraWal of money from active use, but
Tor the present there is less pressure there
or at Boston
Inc south reports fair business in spite
OF the continuing decline in cotton. Spirits
move freely at Savannah, oranges at
Jacksonville, and sugar, molasses and rice
at New Orleans, all at good prices. The
supply OF money is ample for necessities at
New Orleans, but at other points money is
tight, though banks help their customers as
lar as they can III legitimate business only.
AT the west colder weather has helped
trade at Cincinnati, Detroit and some other
points, and business is only fair at Denver;
good for the season with large cattle and
hog receipts at Kansas City; strong, with
liberal distribution of goods at ST. Louis,
falr Tor the season at St Paul, and more
active In holiday lines at Cincinnati. Chi
cago business continues much larger
than last year, being little affected
by eastern troubles, and the re-
celpts OF most products show in
crease. At Pittsburg the worst is thought
TO be over, and money and collections are
easier, though iron has declined, and there
is less demand for manufactured products.
Philadelphia notes little Improvement,
though jewelry is active at narrow mar
gins of profit, and less complaint than was
expected is heard in the clothing trade, but
wool is extremely dull, as may be inferred
from the fact that the business in shoddy
Is very large, its use in place of high
priced wool increasing. The shoe trade
notes heavy falling off, especially in south
ern demand, attributed to failure in distri
button after the large sales made when
prices were rising; Boston observes i'm
proved demand for leather at the lower
prices, and retail dry goods active for sea-
sonab!e products, but wool sales are small
| and wholesale trades generally quiet.
Treasury payments for bonds do not vet
| appear in statements of cash, which show
no loss for the week. The most significant
TACT Is that very large proportion of the
| money was taken in gold by the sellers of
bonds, presumably for withdrawal until
uncertainties aboat silver legislation have
passed. But the fall in foreign exchange
and the movement of over s. .00O, 200 gold to
this side, show disposition of European in
NoSIois W LAKE soue properties mere at
| current prices. The commercial troubles
outside of monetary stringency are mainly
due to excessive purchases made in anticipa-
ton of great rise in prices. Those who
made such purchases, in the belief that in
spite of the expected higher prices and the
short crops consumption would be as great
es ever, find themselves embarrassed by a
distinct shrinkagein the distribution of pro
ducts to consumers.
The business failures occurring through
out the country during the last seven days,
as reported to r. G. Dun & Co. by tele-
graph, number, for the United States, 347,
and for Canada, 81, or total of 374, as com
pared with total of 3l2 last week and 249
the week previous to the last. For the cor
responding week Of last year the figures
were 290, representing 26) failures in the
United States, and 30 in the Dominion of
Canada.