The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-12-10
McKinley's Message Was What
Wall Street Expected.
RETIREMENT IN TRADE
THE COUNTRY FAIRLY OVER
WHELMED BY PROSPERITY,
According to the Mercantile Agen-
cies-But Wool Has Gone Still
Lower, and the Manufacturers Are
Now Buying-Iron and Steel In
dustry Enjoying Great Prosperity.

New York, Dee. 9.-R. G. Dun & CO..
weekly review of trade will say to-
morrow: The most significant thing
this week was the entire absence of
the customary nervous fright before
or after the meeting of congress, the
presidents message and the treasurer S
report. No one showed the least alarm
and nobody could find occasion for any.
Money and stock and grain markers
moved on exactly as if the government
were automatic certain TO 10 or say
no more than the people had already
decided and expected. There is a
larger demand for products in nearly all
the great industries, larger export de-
mand for foreign needs, a more healthy
domestic demand since seasonable
weather arrived and a comforting con-
viction that November business. the
biggest ever done in this country in
any month, was but a step toward
something better.
Exports last year in December we're
marvellous, but this year are starting
far ahead. The Atlantic wheat eX-
ports, flour included, have teen for the
week $685., 767 bushels, against 4,312 131
last year, and Pacific exports 500, 523
bushels against T93,0S3 last year. and
prices have declined 2s4c for cash, but
western receipts of 1915, 109 bushels
against $685. All from last years great
crop stops argument. The wheat does
not come out at low prices or the peo-
pie have less to sell than last year at
20 cents more per bushel.
Wooden goods have been in much bet
ter demand and many of the smaller
mills have been buying, after conces-
sionS secured by the larger. The much
brOo dar, market ic mora healthy and
promises far more for the industry and
sales of 1855, 200 pounds in two weeks
past at the three chief markets, against
10,S52,700 pounds in the same weeks of
1892, are quite in line with the demand
in prosperous years. Prices yielded
about half a cent in November, accord
ing to 100 quotations by Coates Bros,
and from Philadelphia dispatches
appear to be about a cent lower this
week.
The rupture of the inchoate rail
combination, it appears, resulted in
lower prices and larger sales in the
first week of sharp competition than
were realized a week ago. Prices were
made in some transactions much lower
than were then or are now quoted, and
while ST at Pittsburg is now named,
special orders are said to command
lower figures. The purchase of 10000
tons Bessemer pig at SO at valley
furnaces and 100000 tons billets for
Pittsburg works at $3.50, of which 49,
900 tons went to a hoop mill, with H.
900 tons rods at Chicago at SO, and a.
600 tons plates for one concern at Pitts
burg, besides enormous orders for bars
and plates in car and shipbuilding,
steam contract on the Delaware and a
contract for 5000 tons for bridges at
Chicago, give some idea of the heavy
business. coming forward just when the
works usually expect period of idle
ness and waiting. Pig iron has risen at
the east to $11.5O and quotations for
pig throughout the country a shade
higher than at any time this year,
though prices for finished products
have recently been declining and are
lower than in the early months of the
year.
This weeks failures have been 24S in
the United States against 312 last year,
and % in Canada against 20 last year.