The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-02-16
Trade in the East.

1t rarely happens that the situation in
business in New York is as perplexing as
1t now appears. With many causes of ap-
prehension removed, there is still lack of
expected activity, and notwithstanding
perceptible improvement there within the
past few days, the general tenor of reports
is less encouraging. Yet in every quarter
there is seen strong confidence in the
future of business, and such reaction as
appears is generally believed to be tenn
porary.
The volume of new business in progress
seems to be less accurately reflected than
usual by the payments through banks,
which include settlements on transactions
OF months ago. The clearings outside of
New York last week showed a gain of 50
per cent over last year, and in January a
gain OF 1913 per cent, but in few branches
of trade has there been so considerable an
increase in new transactions The build
ing trades are indeed more active than ever
before at this season, and the interior
gram movement is large, but there is but
little increase or some decrease compared
with last year in important manufactures.
as respects actual sales since January 1st.
At almost all interior cities the unseason-
able weather still retards many kinds of
trade, though Philadelphia reports more
activity in dry goods, in lumber, and in
other building materials; Chicago. a large
increase over last year in grain and pro
visions, but decrease of so per cent. in
wool receipts owing to the snow blockade.
| smaller sales of dry goods and about equal
sales OF boots and shoes. Cleveland re-
ports larger trade on the whole than a
year ago, but at St Louis trade is slightly
restricted, at Kansas City only average, at
st. Paul and Minneapolis somewhat i'm
proved, but at most other points only fair
for the season.
The larger branches of industry do not.
for the moment, show entirely encouraging
results. The Boston wool sales for the
week have been only 100000 pounds. and
prices of almost all domestic woods are
lower, while at Philadelphia the trade is
extraordinarily dull, in part because of
failures this week. Many manufacturers,
including some of the strongest. are seri
ousiy considering the propriety of shutting
down mills for time, that the accummula
ton of unsold goods in dealers hands NAV
be reduced. The exceptional weather is
sumclent cause for depre .sion in this bust
ness, as in boots and shoes, of which re-
taliers hold an unsold surplus, and hence
are buying little
The closing of three banks last week has
peen lolOWed tnlS week by their rehabili-
tation under circumstances which are puz-
zling to the public. but appear to imply
restoration of distracted property by some
body. The local money market has not
been disturbed, and little depression has
appeared in the stock market, which is held
very stubbornly, the average of prices
being scarcely quarter of one per cent.
| lower than week ago.
The trust stocks have been weak again.
lead having reported net earnings last year
of about Sl,100,000 on capitalization of
5000 600, and the litigation regarding
sugar having less promising aspect. The
foreign trade OF the country seems to
shrink little, as is natural after the enor-
nous movement of last year, and exports
aud imports at New York both show some
decline in comparison with year ago-the
returns, as usual, including no specie, but
merchandise only
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. 265. and for Canada.
So, or a total of 32l failures. as compared
with 29l last week, and 33S the week preyi-
Gus to the last. For the corresponding
week OF last year the figures were 3O3,
representing 213 failures in the United
States, and 80 in the Dominion OF Canada.