The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-09-27
FINANCE AND MINING
Local Bankers Agree that Bust
ness is Improving.
WILL THE STOCK EXCHANGE DIEg
Interesting Interview With Secretary Horn
on the Causes Of Decline and the
Remedy Against Demise.

r. G. Dun & Co., in the review for the
week say:
IL is especially noteworthy that collec-
tons are improving at most points, and
that the money markets are on the whole
comparatively easy, although the crops to
be moved are enormous, and the actual
movement unprecedented. Wheat re-
ceipts at the west for three days of this
week have averaged more than 1900, 600
bushels daily, and though exports are only
about half as large, the foreign demand
sufices to strengthen the price, which has
risen cents in the past week on sales of
only about 30, 900, 900 bushels here. Corn
has declined rapidly, as the fear of harm
from frost vanishes, and is 81 cents lower
than week ago, while oats are 81 cents
lower. Lard and hogs have declined with
corn, but mess pork is held by speculation.
Cotton has also declined three sixteenths,
for while reports indicate that the yield
may be much smaller than that of last
year, foreign buying is much diminished,
and the stocks on hand here and abroad
are large. Coffee has declined three
quarters Of q cent. while oil has advanced
cents.
q The stock market has been strong, and
some powerful attacks have been so sue :
cessfully resisted that they were followed
by a speedy rise. The treasury has paid
out but little money for bonds presented
during the past week, and hence has lit
tie increased its stock OF cash on hand but
but receipts of part of the gold recently
shipped from Europe have strengthened
the New York banks in spite of large out
goes to the interior.
The business failures occurring though
out the country during the past seven days,
as reported to r. G. Dun & Co.. the Mer.
camille agency, by telegraph, number, for
the United States, 210, and for Canada,
twenty nine or a total OF 239. as compared
with total of PA last week, and 2l7 the
week previous to the last For the CORE
spending week of last year the figures were
40, representing 1874 failures in the United
States, and twenty-six in the Dominion OF
Canada.
GOLD COMING IN.
Large amounts of gold are coming tc
America from Europe. A cable from Lon
don last week says: a representative OF
the Associated Press had an interview
with the Rothchilds, Speyers, Lazard Bros
and other bankers, and they alleged II
their statements that further large ship
ments of gold were going to America. The
Rothchilds dispatched an additional el00,
600 TO- day.
A cable from London on Thursday says
The amount of bullion Withdrawn from the
Bank of England on balance to-day is
100000 for shipment to America.
TIE WHITE FAILURE.
The largest failure this week has beer
that of S. V. White & Co., of Chicago
caused by a corner in the corn market
The liabilities are now placed at g, 000. 600
with comparatively small assets 1t il
said Jay Gould has insisted upon putin.
up whatever finances the house lacks, anC
the firm will resume business within
week or ten days The results will thu
be little felt in financial circles.
THE LOCAL BANKS.
Concerning the local money market Mr.
Hawley, of the clearing house and teller o
the Utah National bank says: The clear
ing house shows al increase this weel
over the same time last year, the first tim,
for several weeks. think after this Their,
will be an increase in the clearing house re
ceipts. So far as this bank is concerned
since the Sth of the month there has been
steady increase in the amount of bushes
done and especially an increase in the de
posits Of local merchants and tradesmen.
Heber NJ. Wells, cashier of the Utal
state bank says: Il have noticed this las
week indications Of an easier money mar
ket due as l think in part TO the good fal
crops and partly to the influx of gold int
the country"
Mr.. Mccormick said the money had beer
easier this last week aud business fairll
good. The return of gold to this countr,
is bound to make difference in the none,
market The deposits from merchant
have been much larger than common.
consider the prospect good for fall bust
ness.