Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1896-02-01
THE WEEKS TRADE.
d General Review Of tho Business Of
tho Country.
Wheat Goes Up aud Cattle, Sheep aud
Hogs Take a downward Shoot
salt Lakes Cicarlngs.

The present week will not pass into
history with any remarkable record for
either large speculative business or
violen, fluctuations. IL has been one
rather OF waiting aud watching than OF
broad and bold ventures. A great dosl
Of Interest has conferred In tho prospec-
tive bond sales, bids for which will be-
opened on the 9th inst.
The action Of Secretary Carlisle OK.
tending tue limo for payment OF suit
scriptions 10 tho bond Issue over
period Of 1--WE months hiss had good
effect and will no doubt raise the
pr.cc OF many bids TO higher basis
than would have been reached had a
shorter time been allowed iotpaymont,
which will be TO the bouoiil Of tho ooun.
Try generally. One unfortunate phase Of
this bond sale is the generally conceded
fact that foreign bidders will have the
preference over the American bidder.
Tor the reason that the object OF this
sale h primarily TO fepleulth the treas.
ufv gOiu reserve, And it ~ feared that
domestic bidGcfs will tato tie green.
backs to tie Treasury Ina nAuy iutlau.
ces aud draw out tho gold iifst, u pay
II back later Tor b1nl purchases, 90 that
the total gain to the treasury l. an un.
certain anu undetermined quantity.
While the nllotments made TO tie
foreign bidders for bonds will draw tue
gol. ifom European banks anu tue
treasury will DO the gamer.
Ifraury notes In New York have
beou selling ~ n premium OF one hall
20 one por cent ior tho past few weeks
anticipating the allotment VI bonds
neat week,
Sttcss hnd bonds In Wall stree,
have boun In demand during tue week
OF Improved prices though much q!
tho iirmues5 ia siccks w0lld uppraF ~
DO the result " manipulation rather
than real Investment demunu.
Europe has bought sparlngly OF COR
securities anu the trade has been COZ.
fined TO fow iavorltos showing tha
market 10 be anything but broad one.
War fum9n lave not been numerous
hud manipulator have had ~ look 10
other sources for their stock In trade.
The prospect OF the Senate passing y
free coinage bill was ~ zsI upon TO
depress stocks which would indicate
that real causes were wanting 10 bring
shout the desired result.
Coal stocks under manipulation hr
the fixing Of the output OF coal
the present. year Rave advanced
sharply especially Reading. The
anthracite coale trade A OF this
country 10 enormous, the output for
1895 amounting 10 $4,000, 600 tone, this
being In excess OF thu demand demon.
alizatiOn In prlcos was the natural re-
sult ana coal carrying roads suffered
accordingly, aud Ia ths interest," Of the
foRdB this years production Il to he
restricted which has given bouyanoy
20 these stocks and incidentally i'm.
ported strength TO others.
Tho coal market has been disAppolnt-
ing TO holders and the advance and
ilsmness noted for the past few weeks
gwen way 10 diminished business and
slightly lower prices at tho close.
Early In the week Germany anu
France were liberal buyers In
the London market, but American
manufacturers bought spAfingly and
only for immediate wants as The de-
mand ior manufactured wooden goods
does not warrant speculation pur-
chaser.
Wheat has made = siill further gain
on the week anu the hightsl price
reached has boon maintained AZ tho
close. Some attribute the Tlso during
January Of eight cents uer Dushel TO
manipulation by Armour ana othors,
tut Ms hos been pointed out Ia our
weekly article for a0me time past facts
seem TO justify present II not still
higher prices. some OF the exporting
countries have had their production
materially cut down while In the caas
OF Australia She has shifted her
from tho exporting to tho inn
Via Ia finding large market
there tor part OF her surplus which re-
duces her shipments 10 Europe Just ns
much. From recent estimates, Aus.
IRA liza raised buI about seven million
bush els last year, and the average was
Gully ligtle over ilve bushels per acre,
which would lsdicslB that her wheat
iauds are about exhausted.
The English Corn Trade News "a.
Inmates that the European importing
countries viii need every bushel o.
American and Russian surplus before
ueNt harvest, whicn IL encouraging 10
our iaimsgs. la spite OF this showing,
however, exports from both coasls
have been only about two ana halt
million bushels against nearly four
million bushels lest week. Western
receipts have been large, hggregRllng
about 2, 400, 600 bushels against l.S0O,O 900
bushels Tor tle corresponding week Of
last year, which wOuli indicate that
the am.unt raised IN 1895, WAS much
la excess Of private ~ well Al govern.
ment estimates for the great wheat
pfuduciug states OF the northwest.
cattle have been slow upon the
whole and 10 encouragement 10
given to feeders or shippeis. Early In
tue week slight advance was made
In eastern markets owing to lighter re-
ceipts than had been anticipated. This
Aas fJllowsi later by weaker feeling
ami lower prices. the latter part u The
week, however, bidding was more
spirited, but the outlook IL not bright
Tor this great industry.
sheep have also been Influenced by
about The same CAUSES as those affect.
ing cAltle,and the trade IL anything bu.
buuyant.
hOgs and hog products are lower ~
along the line. The run OF hogs hav.
Ing been larger than was estimated by
the knowing ones, and prices slumped.
Cotton has been Inactive aud weak
1 a 30 a r.