The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-08-09
FINANCE AND MINING
Lead Advances NObly, But Silver
Shows a Decline.
BIG ORE AND BULLION OUTPUT
Trade in the East and at HOme-News IRON
the Great Mining Camps
of Utah

INTERRUPTED by the election excitement as
Il was. trade in Salt Lake during the week
inst closed was very fair; indeed. when re-
ports from other sections of the country
are taken into consideration, the showing
made is little less than phenomenal
Collections are reported very slow The
first of the month came on Saturday, the
following Monday found the city in the
throes of an election excitement, and 1t was
not until late in the week that collectors
were sent out
In New York. according to the latest mail
sdyices, business continues dragging ana
duu The stock market continues greatly
depressed, and false reports OF failures
have had something TO do with the decline.
some of the strongest houses On the street
having been assailed. The earnings OF rail-
roads are good. and their controversies ap-
near less serious in effect, but the compan-
les are poor. and many of them forced to
economic in purchases, although an enor-
NOUS movement of crops has begun. In
commercial circles there seems TO be very
general and growing confidence that the
business of the fall will be large and pront-
able. and some improvement is seen, but
not enough as yet to justify sangulne
views.
Trade at the south is peculiarly depressed
hecause there Is TOO much cotton. With
several hundred thousand bales OF last
wears crop left over in the worlds markets,
and with competent Judges predicting an
other crop even larger than that OF 1871, II
Is no wonder that prices are low, and pro-
ducers scarcely get enough to pay for rails
ing and picking. Hence country merchants
do not buy freely, and the prospect of
great Weld, which at other times might be
helpful, tends to produce stagnatlon'
Again. in parts of the west where crops
failed last year, trade has not yet recovered
from the great depression resulting, and as
long as the corn crop is in doubt, complete
recovery is not to be expected. In several
states legislation hostile to capital causes
much disturbance. Further, the collapse
of real estate speculation in many parts OF
the west and south has brought severe
losses and embarrassment to many.
At the east, monetary uncertainties have
a powerful influence. European difhcul-
ties do not pass as quickly or fully as was
ex,ected. andnow serious financial trouble
is unprecedented il Russia. because Of fail
ure of crops. which viii only help this
country in the end. There is growing
doubt whether the movement Of crops here
will not cause & temporary drain greater
than eastern money markets can meet; but
If the grain can be sold, the gold will
come. Money is close at Buffalo and
Cleveland, in active demand at Chicago.
Cincinnati. and Detroit, firmer at TO per
cent. at St. Louis, in good supply for legiti-
mate business at Milwaukee, close at
Omaha. Nashville ana Atlanta, tight at
Jacksonville but easier at Savannah, and
In fair supply at New Orleans.
Business at Boston has further improved,
and wool is quite active, sales reaching
3.2lO.OO0 pounds. More activity appears
in wooden goods and better demand for
boots and shoes, while leather is quite
steady. Hides are dull aud domestic lower
1t the west Philadelphia notes more fire.
ouent orders for wool and woolens, and i'm
provement in the tobacco trade, but iron is
very weak, and while money is freely
loaned on call, time loans are almost impos
siole TO make AT Hartford and Buffalo
trade is quiet, but the demand fer lumber
improves; at PIttsburg business is un-
changed and rather slow; at Cleveland
fairly good for the season. and at CiDcin-
nati somewhat more active. Chicago re-
ports receipts of wheat seven times last
years, of rye, cured meats, lard and wool
double last years, of dressed beef third
larger. with some increase in cheese and
butter. Dry goods sales are slightly larger
and good orders are seen for clothing and
shoes. At Omaha trade is fair, and at Mil
waukee satisfactory. and increasing activ-
ity is noted at St Paul Throughout the
northwest the prospect of crops is exceed
-ngly good, but at Kansas City wet weather
In - With harvesting. The distribu.