The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-01-16
SAN FRANCISCO MINING STOCKS.
San Francisco, Jan. 15.-The official clos
ing quotations for mining stocks today
were as follows:
DUN'S REASONS.
Why the Predicted Prosperity is Not
Now Seen.

New York, Jan. 15.-R. G. Dun & Co.
will say tomorrow in their weekly re-
view of trade: 1t takes time for new
confidence to reach through easier
money markets, large orders. resum-
ing mills, expanding employment and
| larger distribution. to the results which
make still greater and lasting gain
possible. Such gradual and steady
improvement has been in progress for
more than two months.
1t is not time for high prices. Many
who are anxious to get hold on the
market are making for the moment
! lower prices than they could afford
to maintain.
Textile manufacturers are not en-
couraged by the demand for goods,
though more print cloths were sold
than for many weeks. Lower prices
are expected in goods, and slow buy
ing is not unnatural, since cotton has
fallen us per cent from Sept. II, print
cloths per cent, bleached goods 31a
to 51a and brown goods 21A, 3Q4 per
cent, Though wOollen goods do not
improve there have been purchases by
large mills which cover for two weeks
of January 11,110,300 pounds at the
three chief markets, against n,S17, 200
last year Some large purchases of
leather indicate that shoe manufac-
turers are seeing their way to more
active work and shipments from the
east in January thus far are 20 per
cent larger than last year. Hides at
Chicago are 21s per cent lower
Clearing house exchanges for the
month thus far are less than 1 per
cent below last years. though still 25.2
per cent smaller than the year 1892.
The railroad earnings and tonnage for
January thus far are light, owing to
western storms, but December returns
cover S38, 5S6,912 on roads in the United
States alone, only 23 per cent less than
last year. The Pennsylvania and some
other roads have commenced to buy
rails, and several costly improvements
have been ordered.
The wheat market has varied but
slightly, closing nc. lower. Western
receipts for the week. 1.5O5,3
bushels against 2,916.274 last year. are
checked by storms and by current
prices in view of farmers expecta-
lions.
Atlantic exports were 1,456, 40S BUSH
els, flour included, and for two weeks
3,4S4,317 against 4,4S3,190 last year
Traders begin to realize that enormous
exports of corn are taking the place
of wheat in foreign consumption. Cot
ton took a rise of an eighth on a trad
ers estimate without change in con-
ditions.
The money market has been dis
turbed by combination of large bank
ers not to lend on call below per
cent, which invited all sorts of finan-
cial institutions to take the market,
caused payment of bank loans for some
millions and left supplies of funds SO
heavy that time loans were sharply
marked down. More was done in COM
mercial paper, though offerings in
creased but moderately. Receipts from
the interior exceeded shipments by ST.
500, 600. Exports continue to exceed
last years for the week per cent,
while imports fell 10 per cent below
last years.
Failures for the week have been 455
in the United States against 395 last
year, and II in Canada against 81 last