The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-08-08
SEEN BY DUN.

New York, August 7.-R. G. Dun &
Co.'S weekly review of trade, which
! issues tomorrow, will say:
The sensational collapse of the spec
cuiators at Chicago VINO controlled
Diamond Match and New York Bis
cult stock and had hoisted them to
fancy prices, with the consequent
closing of the Chicago stock exchange
for a period yet indefinite, though fol-
lowed by remarkably few failures,
brings a sudden change in monetary
conditions throughout the country At
least month earlier than had been
expected, Chicago had drawn heavily
upon Illinois bank balances, and with
draWals Of other western funds may
naturally result
Europe was also moved to sell Amer
lean stocks rather freely, SO that the
average of sixty of the most active
railroad stocks fell about $21S per
share and the average of trust stocks
about $1.83. The instant cooperation
Of the money interests with Chicago
to restrict the disturbance deserved
praise and did much good, but lit is
not possible to avoid some shock to
public confidence and a. quick tight
ening of eastern money markets has
already shut off commercial loans al
most entirely. The collapse also I'm
creased the caution of bankers and
other leaders regarding loans on Sc
curities of a similar character.
It is important that the increase of
merchandise exports $500, 900, or u per
cent. over last year, for the week and
the decrease of imports $70O,0O0, or II
per cent, still continues to limit the
sum payable abroad. In five weeks
the increase of exports has been S4,-
100000, or 16 per cent, and the de-
crease of imports $1,000, 000 or IS per
cent, which helps to balance accounts.
The movement of wheat is again large,
Atlantic exports being 1,761,0G0 bushels
for the week, flour included, against
753, 800 last year, and since July 1,
8,S5S,700 bushels, against APPS 900 last
year. Conflicting crop reports are as
numerous and noisy as ever, but the
more reliable mark up winter wheat
at 300.000,000 bushels, and the move
ment tends to sustain such estimates,
for since July l western receipts have
been 1888, 800 bushels, against $3.50, 900
last year. It is not easy TO believe
that with prices 10 cents lower than
year ago farmers have marketed
from a smaller crop 80 per cent. more
wheat.
Corn is also moving rapidly, with
western receipts 4873, 900 bushels,
against 1861, 900 last year.
Labor is more disturbed than usual
The great strike of garment workers
here has much extended; the strike at
Cleveland has broken out again and
involves several other branches of la
Dor; the iron furnace men of the She
nandoah valley resist a reduction to
the wages of May, 1895, though the
Mah'oning valley workers do not; the
iron works throughout the country
are striving to cut down the cost in
order TO keep in operation; the iron
mines of the Gogebic range are stop
ping; the suspension of cotton mills /
has become more general, and over
4 100000 sDindles are said to be idle at |
Fall River aaone, and probably three
eightlls or more of the entire produc-
ing capacity in the country; the rub
Der works have mostly stopped and a.
number of wooden mills also. Evil
IDENTIFY both the working force and
their wages have been reduced.
The iron market grows less democrat
lied in tome, because all the associa-
tons decided to maintain prices for
this month, but the markets are not
stronger in volume of orders or pur-
chases. Pressure to sell, even at con-
is the prevailing rule and
prices are almost nounanal
Minor metals are generally weak,
but prices of coke and coal are held
without variation
Curhailment of production in cottons
loes not bring a stronger market and
], few quotations are reduced.
Sales of light weight woolens are dis
appointing and mainly of cheap
grades, and in some cases prices are
again reduced
Sales Of wool for the week were
,T46,400 pounds, against 6,259,S00 last
7ear and 9,271,700 in 1892
Failures for the week have been 240
n the United States, against 227 last L