The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-10-10
SAN Francisco Board.
As Seen BY Dun.

NEW YORK, Oct. 9.-R. G. Dun &
Co. will say tomorrow in their weekly
review of trade:
Distinctly better conditions haze
been apparent of late and are reflected
in somewhat larger employment of la
Dor, in large transactions and in con-
tinued buying of materials for manu-
facture. great part of the change
is due to those resistless laws of sup
ply and demand, which take wheat
where it is wanted and gold where it
is wanted. India is waiting for car
goes of wheat on the way from the
Pacific states, just as Australia and
South Africa were not long ago.
Surplus usually available from India
disappears and the surplus from Rus
STA and European countries is re-
duced according to late estimates To-
100000 bushels. Happily this country
has supply which official reports have
not correctly measured, if actual move
ments do not greatly mislead. West
ern receipts for the week were 7,243, 1863
bushels, against 1851, 474 last year, and
this follows an increase of 100000
bushels in receipts during the quarter
ending September 80. Atlantic eX-
ports, 2,069,071 bushels, flour included,
for the week aginst 1.707,629 last year.
is not yet so large as to force prices
upward, if European buying based on
European needs did not control our
markets. A feature of large impor-
tance is the unusual foreign demand
for corn, which is a rarely failing sign
of deficient crops abroad, where other
grains are used instead of wheat when
the latter becomes scarce and dear. 1t
is another good sign that railroad
earnings, amounting to S3S, 745,3 1S in
the United States for September, show
a smaller decrease than in August, 1.S
per cent against 81 per cent compared
with last year.
Iron furnaces in blast October 1 had
a capacity of 1878 tons weekly
against 129,500 September / and 21S, 1906
November l last year. while unsold
stocks decreased 1882 tons; but if
those of steel-making concerns were
included it would probably show an in
crease. Buying of materials continues,
but BeSSemer is a shade Weaker-$11 40
at Pittsburg.
The demand for products is so light
and so much business is held back
pending the election that decreasing
output is not an unhealthy sign. There
is quite a good demand for sheets, es-
pecially at the west, and rather better
for pieces, and outside concerns are
getting large contracts in steel and
iron bars and in nails, but prices have
not been reduced. Minor metals change
little with slightly better demand for
copper; lead quiet and tin weaker be-
cause visible supply, 50, 400 tons, is 5000
greater than year ago. Some COM
peting American manufacturers are
making large sales of 10O-pound plates
of tin at 1920.
The upward rush of hides had adj
vanced prices at Chicago 6 per cent for
the week to the highest average since
last November. Prices of leather have
risen 21s per cent with dealings. Shoes
are selling very little as consumers re-
fuse to pay higher prices and dealers
remember buying at high and selling
at low prices last winter. Orders for
the next season are few, and many
concerns may close for time.
Textile manufacturers are gaining a
little and the buying of wool by large
mills covers 1862, 800 pounds for the
week against 11249,200 last week.
Prices advanced about 1 per cent in
September and have since advanced
even more. though few of the mills
have orders for long time.
Buying of cotton was checked by
heavy receipts from plantations. 1922
2S7 bales having come into sight in
September against 542, 1874 last year.
The price has dropped seven-sixteenths
and few now have more confidence IN
a drop of only 100000 bales.
More gold has been ordered from Eu-
rope, so that 100000 is now on the
way. Speculation in stocks has yielded
a little-about lib for railroads and
55c. for trusts. The outward move
ment of money to the interior has
been s4OO0,OOO for the week and little
is doing in commercial loans, with
rates about one-half per cent higher
than a week ago.
Failures for the week were 296 in
the United States against 26S last year
and As in Canada against 80 last wear.