The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-02-22
Trade in the East.

There is some Improvement in business
at the east, and more confident feeling,
and at Chicago the tone is very hopeful.
southern points business shows no increase
in volume, and is rather hesitating. The
payments through all clearing houses for
January show scarcely any increase over
last year, although the yearly and quarterly
disbursements on account Of previous bust
ness were very much larger than q year
ago, and the returns for February thus far
exhibit substantially the same situation
II must be inferred that new business Is on
the whole somewhat smaller in volume
than 1t was a year ago, Notwithstanding
the advance Of about 10 per cent in the
average prices of commodities In part,
this is explained by the exceptional activ-
ity toward the close of last year, but in
part also by shortness of crops, and doubts
regarding the monetary future. These
doubts, however, have been much lessened
by events which tend to show that no I'M
portant monetary legislation is probable
for the next year, and while exports of
gold are announced, the rate of exchange
hardly iustihes them as yet.
The demand for wool continues strong,
and worsted grades are rising. Sales at
%.
against 1888, 900 last pear, an increase of
ABOUT 90 per cent, and the market for dress
goods Is particularly active, agents looking
forward to a time Of extraordinary pros
perity. But orders for heavy goods are
scanty, and clothiers, remembering heavy
losses of past winters, are buying with
great caution. The commission merchants
are also extremely careful about credits,
with last falls experience in mind. The
n ic fol-, in
print cloths are shade stronger in price.
The boot and shoe trade shows some i'm
provement as to volume, though prices OBJ
tanned are not highly satisfactory. Leather
is firm, and at Boston the export demand is
noteworthy feature. Sugar refiners are
busy, with ample orders for future deliv-
cry, though present trade is naturally
light.
The low price OF cotton tends to make
trade dull at the south, farmers holding
back for higher prices. But at New Or
leans general trade improves materially, at
Nashville 1T opens very well, though buy
ers are cautious, and al other points report
ing it is only fair or dull. ST. Louis reports
fair volume but no Improvement, while
Kansas City finds better wholesale and
quiet retail trade; at Denver and ST. Paul
trade is fair, at Minneapolis very active in
lumber with excellent logging prospects,
Milwaukee and Detroit quiet. Cleveland
reports fairly good trade in most lines, and
pig iron slightly better, but 1000, 900 tons
of ore are on the docks, half unsold Pitts
burgh notes better demand for merchant
iron because of the strike, and good trade
In bottle glass, but dullness in other
branches of the glass business. AT Chicago
bwool receipts are more than double last
years. and there is some increase in lard
nhplSP in,
and dressed beef. Dry goods, clothing and
shoe trades considerably exceed last year
Philadelphia reports improvement in wool
and fair trade in dry goods and clothing,
good orders 10 iewelry and fairly satisfac-
tory trade in prints and chemicals At
Boston general trade is good, some large
mills are buying wool freely, and more buy
ers of boots and shoes appear.
Throughout the country the money mar
kets are comparatively easy and undis-
turbed, though the demand is good and the
supply hardly adequate at Cleveland, and
at Omaha the market is close That CITY.
Denver and Milwaukee, are the only cities
at which collections are reported slow; at
most places they are fair or good The
treasury has made no important change in
currency this week, and the small orders of
gold for export are interpreted as return
of money virtually borrowed from Europe
during the stringency last year. Exports
of merchandise for two weeks of February
have been about equal to last years, and
imports thus far are smaller. But the
movement of securities has not been out
ward, and the stock market has grown les 8
confident, with some decline of late. The
association of railroad presidents makes
slow progress in adjusting details, and the
perpetually recurring reports of enormous
consultations in progress fail to induce con-
hdence- For the present, some abatement
in speculation is generally expected, as the
bank reserves are likly to shrink for time
whether much gold goes abroad or not.
The business failures occurring through
out the country during the last seven days,
as reported to r. G. Dun 81 Co., number
for the United States, 262, and for Canada,
30. or fatal of 297, as compared with q
total of BOG last week, and 800 the week
previous to the last. For the correspond
ing week last year the figures We're 302
representing 240 failures in the United
States, and 62 in the Dominion of Can ada.