The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-03-15
Trade in The East.

Congress has adjourned, and the posi-
blllty of an extra legislative session nc
longer hangs over business, so that the
monetary basis can no longer be affected
by any lawmaking earlier than December
next Nor is there much prospect now
that any serious change will be made next
winter. Mean time the appropriations voted
have been so large and liberal that the
treasury surplus must be considerably re.
duced, and the available supply of currency
increased within the current year. Agains ST
these facts there is to be reckoned the
outgo OF gold, which the treasury
mas now decided to check by charging a
sllgnt premium for bars taken for export
THIS does not prevent shipments of s6CO-
to0 tins week, and probably will not pre-
vent larger shipments in the near future.
but prospect of good crops next fall. and
adjournment of western legislatures with
out seriously injurious enactments. NAV
give new impetus to foreign demand for
American securities The one unwhole
some factor is that prices of commodities are
moving upward rather rapidly, the average
having risen moro than one per cent dur
ing the last week, and the exports of mer-
chandise are thus liable to be restricted.
reports OF trade from all parts OF the
country show little change since last week,
though there Is perhaps little less ACTIVITY
On the whole. The south feels the con-
unued decline in cotton, but trade in that
secaon Is moderately fair, rice is firm at
New Orleans, molasses strong and sugar
dull Business at ST. Louis is only fair
and rather quiet at Kansas CITY. with re-
ceipts of Ii, 600 cattle and $4,000 hogs At
Denver business is fair, at ST. Paul good
conditions continue, and at Milwaukee ana
Cincinnati trade is rather quiet. Detroit
reports larger trade than year ago and
Cleveland q general business as GOOD as
usual, with exceptional demand for rolled
iron products, but at Pittsburg, while the
failure to settle the coke strike stitfens
most prices. structural iron is shaded. and
window glass is weak. Chicago reports
an extraordinary decrease in dressed beef
receipts, and a heavy fall in receipts of
grain, lard ana hides, but large gain in
cured meats ana wool Dry goods sales
are above last years, with collections easy
IN Clothing and shoes sales are also larger
imam year ago, but collections are not
butte SO satisfactory. Trade is generally
good at Boston, but better in materials
than IN manufactured products Some
grades OF leather are stronger, and hides
nrm, but prices of boots and shoes do not
improve. AT Philadelphia iron is tirmer
and coal more active, chemicals in fair de-
mand, but tobacco quiet with slow collec- |
tions, wool rather scarce. with worsted |
splnners busy at profit, and jobbers in |
the shoe trade reporting good orders |
though buyers are careful
The only speculative market that has de- |
cilned during the week is the cotton mar |
ket, receipts showing an increase of a.. 600 |
bales over last year, and exports an in
crease of 1900. The fall of an eighth nuts |
the price close to the lowest ever recorded
in the market since 1854. But wheat has |
risen over l cent, oats 4 cents. and corn |
nerrly cents, coffee an eighth, oil 21I |
ceets, butter cents and pork products q |
shade. 1t is difficult to see WHY
wheat should advance, with Western |
receipts largely exceeding those of cores
ponding weeks last year, with the visible
supply well maintained, and exports falling
OF. Thus far this week, for instance
wheat exports are not half last years for
the same days, flour exports not one-half.
and corn exports only one-ninth. The
speculative wave which began with the
prospect of free silver coinage last spring. /
will reeede in time. not to the advantage Of
those who hold large stocks of products.
1t Is not good sign when the speculative I
interests are active and buoyant. while
legitimate trade and productive industry
are hesitating or curtailed. In the iron in +
dustry a temporary stiffness in prices does