The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-04-03

New York, April 2.-R. G. Dun & Co.
will say tomorrow in their weekly re-
view of trade:
Failures reported today for the first
quarter OF 1897 number 1892 against
4,03l last year. with liabilities of S4S,-
007, oil against $57, 425, 195 last year.
The markets are still waiting, some
sagging downward and others recov-
ering.
The reports of railroad earnings for
the quarter have been somewhat en-
couraging, the aggregate having been
on roads within the United States only
30 per cent smaller than last year, and
the March returns have been rather
more favorable than before January or
February. The vote of the house in
favor OF a new tariff bill has made no
impression in business.
The market for products has been
variable and uncertain. Wheat closes
a cent lower than last week, and the
May option has declined &c and western
receipts for the week have been 2,7S1,-
557 bushels against 1851, 205 last year,
while the Atlantic exports, flour in
Guided, haX been 2,1S5,278 bushels
against 1,2S0,0l3 last year.
The movement OF corn continues so
large as to materially affect the de-
mand for wheat, western receipts hav
log been 1913, 1852 bushels for the week
against l 946 045 last year, and Atlantic
exports 4.219,629, against 1,G65.396 last
year Current trade estimates regard
ing the wheat crop are little more
favorable and somewhat liable to prove
profitable as the advance of the sea-
son makes the condition of growing
wheat better known.
Cotton has not changed although the
floods in tie southwest have doubtless
done mucn harm. The cotton and other
textile manufa cturerS are slowly gain
ing in business, though print cloths and
most staple cottons remain unchanged
in price and restrictions of output seem
to have given some relief to the mar
ket.
The buying of wool by mills is still
a noteworthy feature, being far in eX-
cess of current consumption, but there
is much greater volume of tranSac-
tions between dealers and at the three
chief markets the sales for five weeks
have been 63, 725,20O pounds, against
%. 377470 in the same weeks of 1892,
when the mills were well employed.
Prices are very strong, both here and
at London.
The iron and steel industry has been
staggered, so TO speak, by the decision
OF the supreme court affecting rail-
roads, since it is apprehended that
purchases rot only of rails, but of cars.
locomotives and bridge materials may
be affected The demand for rails is
still considerable, and one order is
pending for 10000 tons for Japan, but
the reduction in Mesaba ore with the
want of agreement as yet among pro-
ducers of hard ores. tends TO encourage
the belief in lower prices for finished
roduets and so to hinder buying. The
great struggle between the e-produc-
ing companies of Mesaba has not yet so
far developed that anybody can feel
confident as to the future cost of iron.
Meanwhile. with pig accommodating, al
though some furnaces have stopped
production, the price of Besser1er at
Pittsburg is a shade lower at s10.25 and
grey forge at 50, but there are no quot
able changes in prices of finished prod
ucts. although the tone is rather weak. |
The new combination in cut nails only
affects selling prices in eastern mar
ketS.