The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-11-07


NEW YORK, Nov. 6.-R. G. Dun &
Go. will say tomorrow in their weekly
review Of trade:
A great evolution has been effected
this week in the conditions which con-
troll business. It could not be in any
degree reflected as yet in transactions
or on records: but there is ample evil
dence already that a crushing weight
has been lifted and rolled away, and
the business world has adjusted itself
TO a state of freedom and security
which it has not known for years, and
new contracts, involving many millions,
have become binding since the election.
The rush for stocks on Wednesday lift
ed the average for all railways $1.16
per share in a single day, and trusI
stocks S1.54, and in many of the most
active the advance was so sudden that
heavy sales for realizing caused some
reaction The wild advance of over )
cents in wheat on Monday and Wednes-
day was also followed by realizing and
declined on Thursday. But the instant
vanishing of the premium on gold,
which had reached about 2 per cent:
the unlocking. of many millions which
had been boarded; the collapse Of the
Interest rate from s and II to 61s per
cent, and the great demand for Amer
Jean securities ON foreign account, are
signs Of more lasting promise.
It was not strictly logical that wheat
should advance Sc, and heavy realiZ-
ing of profits showed a perception of
the fact. Western receipts were only
600S, 059 bushels against S,019,910 last
year, and Atlantic exports, flour
Included, ware only 1,58S, 1858, against
1,790,833 last year. grow
ing disposition appears among
farmers TO hold wheat for better prices
than are now realized, although, at
present, any advance checks huYinE for
export. Speculation in cotton was also
excited on the theory that mills would
now start up and would meet d large
demand for goods; but the advance was
met by realizing sales ana a slight re-
action. It will be al the better for
business if bright hopes do not hciSl
prices too fast.
The election Immediate stiffened
prices of iron, which reached So at
Pittsburg for Bessemer and the GER
kaartty that many large orders for
buildings and bridges and other fin
ished forms would now become opera
tive caused some advance. The future
of this trade depends upon the extent
of increase for demand in finished prod
ucts of iron and steel. which is likely
to be materially affected by the course
pursued by the various combinations.
The billet pool, which is still openly
undersold at Pittsburg and has
caused no end of disturbance in bust
ness by favorffg one class of producers
to the detriment of another. has been
in session here and is said to have
changed its basis of allotment so as to
secure fairer results. The nail COM
bination IS now threatened with a hos
tile league of jobbe-s and producers,
and is openly unde-sold. The bar
combination, notwithstanding its large
rebate, is still demanding more than The
prices at which steel bars are sold in
great quantities. A slight advance in
sheetings and print cloths IS the only
change which yet appears IN the market
for cotton goods. and practically no
change has yet appeared in woolens.
Failures for the week nave been $50
In the United States, agains: $50 last
year. and 80 in Canada, against 10 last
year