The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-08-27
Decrease In Exports and Increase
In Imports.
CLEARING HOUSE RECORD
EXCHANGES PASSED THE HIGH
MARX OF 1892.
Volume of Business Is Larger Than
Ever Before, Although Not Sat
isfactory In Some Dranches-Pig
Iron Trust Has Raised Prices By
Curtailing Production.

New York, Aug. pr. G. Dun &
Co.'S weekly review of trade will say:
The volume of business reflected in
exchanges at the principal clearing
houses is 204 per cent larger than last
year, and 1858 per cent larger than in
1892, heretofore the year of largest
business and highest prosperity ever
known. Part of this increase was due
to speculation at New York, but there
are most healthy increases over the
best of the previous years, and though
in some branches business is not salts
factory in character, in nearly all ii is
in volume larger than ever before. No
unfavorable changes appear in the
prospect of crops, upon which the well
fare of the country largely depends, nor
is there present or threatening finan-
cial disturbance. Europe has not wear
led of buying American securities, al
though some spectators have been
selling, nor is there shown any want
of confidence among American invest
ors Comparisons as to foreign tracT
are apt to mislead, because imports last
year were extraordinarily small, after
the big rush to anticipate new duties,
while exports were beginning to show
the phenomenal demand which made
the year quite the most remarkable in
our history. Hence the decrease, Is
per cent from New York in August
thus far, is not alarming, but sales of
products yet to follow are large and
have stopped any advance in the cur
rent rates of foreign exchange. Nor
is it at all disheartening that imports
at New York for the month thus far
exceed last years by nearly 100000,
since last year they fell below those of
1896 by more than $4,000. 900.
Wheat goes down cents for the
week, as If there were no foreign de-
mand coming, the previous concert of
farmers to keep back wheat, the crop
being certainly very large, tending to
encourage a conspiracy of traders
against them, which thus far has en-
tire control of the markets. Atlantic
exports for the week have been 2,731, 594
bushels against 1868, 1863 last year, and
for four weeks of August, IS, 101 079
bushels, against 1887, 63S last year,
while Pacific exports, 254 239 bushels for
the week, against 770.S19 last year,
have been for the month, 1858, 704,
against 1,4O5,3S9 last year.
1t is wise to remember that the for
eign demand on account of last years
shortage is still tapping over, while re-
ports show that foreign crops are about
average.
The output of iron and steel no lon
ger measures the demand, and the
stipulated stoppage of furnaces in the
Shenango and Manoning valleys has
raised the price of Bessemer pig at
Pittsburg to $1,000. and of gray forge
to 1925. without any certainty what
ever that such prices can be main
tanned when the valley furnaces re-
sumo operations, as some of them are
now doing. The natural result is that
the Pittsburg region is so much the
less able to compete with the great
Illinois combine just formed which is
getting all the business it can do, and
promises to turn out iron at less cost
than any other works in the country
At all points bars promise a larger out
put than ever before, and structural
forms and plats are in heavy demand.
while the tin plate producers have felt
obliged to advance prices about 10 cents
per box, and the sales are said to be
very heavy.
Failures for the week have been 179
in the United States. against 223 last
year, and 26 in Canada against "a last
year.