The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-06-22
CHEERING OUTLOOK.
Reports From ALI Sections Are
Very Favorable.
HEALTHY STATE OF TRADE.
Crop Prospects Begin to Rule the Markets, and
Thes are Generally ImprOYing-East
and West.

Crop Prospects Begin to Rule the Markets, and
Thes are Generally ImprOYing-East
and West.
Speculation has been neither large in
volume nor enthusiastic in tone during the
past week, but the legitimate business of
the country continues unprecedented in
volume fors the season, and highly encour-
aging in prospects. Although the treasury
has taken in s., 100000 more money than il
has disbursed, and foreign exchange. ap-
parently because of sales of American Sc
curities and a slackening of exports, has
advanced about cent during the week, the
current rate for money on call has declined
from 8 to AZ per cent. There has been
quite decline in exports from New York,
for two weeks past the value having been IA
per cent. below that of the same weeks last
year, while in imports there a moderate in
crease continues, last week per cent. But
the flow of currency to New York supplies
demands and makes the market easy, and
confidence in currency expansion by legis-
lation is undated. Interior cities report
rather more demand for money, and at Bos-
ton rates are rising, at Chicago and ST.
Louis steady, and at Philadelphia dull, not
much commercial paper offering, but at
most points the demand is fair, with suf-
ficient supply.
| Crop prospects begin to rule all markets
at this season, and these are distinctly i'm
proving. The government report was more
| favorable than was expected, and in spite
of extravagantly low estimates put forth
| by speculative statisticians, wheat has de-
clined 1SS cents, oats / cent, and corn q
cent. Cotton prospects have much i'm
proved with favoring weather, and the
most reliable authorities now reckon the
condition as satisfactory, with reported
increase of 267 per cent. in acreage. The
price has again declined an eighth for ex-
port. Coffee is unchanged, though indif-
ference of buyers is admitted. Hogs, lard
and pork have scarcely changed in
price, and the rise of 215 cents in
oil is purely speculative. A better de-
mand for refined sugar is alleged as reason
for an advance of q cent in price, but other
reports indicate that dealers are not buy
ing freely at the high prices now asked.
The general level of prices is but a shade
higher than week ago, and the prevailing
tendency seems at present to be toward a
lower range of quotations for time.
The capacity of iron furnaces in blast
June 1 was 1S0,795 tons, against 1SO,099
May 1, and 137, JIG a year ago. 1t seems
scarcely credible that the actual cous1mp-
ton can be 81 per cent. greater than wear
ago, and yet the tone of the market is fairly
confident, and does not indicate material
accumulation of stocks. Eastern makers
are said to have checked the in
cipient advance in prices, in order
not to establish a market for south
ern and western producers to unload
on. The demand for various forms of
manufactured iron and steel is still good
and prices steady, and sales of 10000 tons
rails are reported, with S31 quoted a. east
ern mills. The wool market has been dull
sales at Boston being only $40, 600 pounds,
and dealers there do not regard the out
look with confidence. Philadelphia and
Chicago reports indicate that growers are
holding for higher prices. But no i'm
provement is seen in wooden goods, though
dress goods ara in fair request here, and
stocks of light weight cloths are small.
Flannel mills are generally cutting down
production.
Reports from other cities show healthy
state of trade with clear signs of improve
ment where better crop prospects have INN
mediate influence. At Boston the war
weather caused activity in iobbing trading
boots and shoes are well sold with risiith
prices and shops active. leather is firm w nd
growing foreign demand for finished a in
sole, and cotton goods are very firm, butced
less active demand because of advan
!
prints and ginghams below expectation ;, q
good trade in leather, the season brings the
best ever known for glazed kid, and de-
clining trade in groceries, but greater ac-
, tivity in sugar Chicago grain receipts are
heavy, and hides more largely, but wool
receipts fall &c per cent. below last years;
dry goods trade shows considerable
excess over last years, with good
! collections, but there is little pres ent
activity in clothing, though bright pros
q poets for fall trade. St. Louis notes strong
/ trade in nearly all lines, Plttsburg con
tinued activity in iron and flint glass, anC
q the northwestern and southern cities gen
o orally report better trade with brighter
| crop outlook.
Railway wars do not cease; on the CON
:, trary, more cutting of east-bound rates an
: pears, and speculative managers are sus
q pected of willingness to see lower prices
!, 1t is but fair to remember that the compe
e tition of Canadian and lake lines is fel
! with constantly increasing severity, anC
> until the interstate law has been changed
apparently must be. Prices of stock!
= have been weaker, though sugar trus
= has been put up again with re
n ports of larger profits. The delay o.
II the Senate finance committee in actini
. upon sugar duties suggests some uncer
- tainty, but in the main the House tarif
n bill has been accepted by the committee
nj and is thought likely to be passed withou
a. great changes. The latest advices about
\ silver legislation suggests greater posi-
re- bility that the two Houses may disagree
70 the disposition toward free coinage beinI
strong in the Senate.
4 The business failures occurring through
1s out the country during the last seven days
~ as reported to r. G.. Dun & Co., number, 70
,eo the United States 1876, and for Canada
Re seventeen, or total of 212 failures, as com
ss pared with 205 last week, and 21S the wee
ID previous to the last. For the correspond
lug week of last year the figures were 25(
no representing 226 failures in the Unite
of States and twenty-four in Canada.
of H. BAMBERGER-REAL ESTATE.
n Under McCornick's bank. Long resi-
dence in Salt Lake. A number of desirabl