The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-07-16
Industries Not Affected BY Military
Developments.
NEW LOAN A BIG SUCCESS
BANKS MAY NOT GET WHAT
THEY WANT.
Exports For the Year Were Double
the Imports-Iron Mills Are
Crowded With orders-Wool
Sales Continue Light, But There
Were a Few Large Deals.

New York. July 15.-R. C. Dun & Co s
Weekly Review of Trade will say in to-
morrow's issue:
The destruction of Spanish fleet, and
Europe's quick appreciation of the feat
the wearying flags of truce at Santiago
and, at last. the surrender. have all in
fiuenced some markets day by day. But
American trade has so grown that not
many outside matters greatly influence
the business which enables them TO mar
ket Sl.21O 015 worth domestic products
abroad in q year, against $6i60l2, S44 worth
imported. The new loan has proved a
StupendOuS success, over S1.3eO. 900 600 hav-
inc been subscribed, and it is now the
question OF chief interest whether any
banks will get enough, after personal sub
scriDtionS have been accepted. to support
further circulation Industries and bust
ness are at the naturally lowest point for
the year and therefore the records are
the most impressive.
The decrease in output of pig iron from
PESTS tons weekly, June l. to 2l6.Sl1, July
l, mostly due to usual sstoppageS for re-
pairs a little before July !, carries with it
a decrease of 4.216 tons weekly in unsold
stocks. If the first and last of the month
so presented average production, the
quantity consumed in manufacture would
be IS per cent less than the highest ever
attained in May, a small decrease for
midsummer, but, in fact, the average pro-
duction was larger and decrease in con-
Just when stagnation is customary very
many mills are crowded with orders for
months. the Illinois rail mills until De-
cember or later, with sales this week OF
1900 tons. and structural works with
few contracts for 10000 tons or more,
while a larger demand appears for bars
and sheets, and better demand for bars at
the east. A heavy sale of billets from
Pittsburg to eastern Pennsylvania at a
concession of 80 cents is the only real de-
cline in quotations though eastern steel
bars are a shade lower.
It is still between seasons for wool, but
a few large purchases indicate some dis
position for business, and the demand for
wooden is better, though prices for some
have been reduced, and the competition
as to SergeS seems likely to be excessive
Sales for wool were 7441,O00 pounds, 81
521. 200 being domestic, for two weeks of
July. against 24.572.SO0 pounds last year,
of which 11.9656G0 were domestic. One
sale of 100000 pounds territory at prices
lower than are being paid by Boston par
tics in Montana looks like business in the
future.
" neat has been dropping in price un
der estimates of 6S0.000,O00 to 1OOOO,OOO
bushels this year, which seem to be at
least well warranted, as over conservative
came from the same parties
last year. Western receipts are moderate
as yet, but the Atlantic exports for the
week were lib 1853 bushels. flour included,
against 1.611. 400 last year, and Pacific
coast exports 521.514, against 1S6, 7S3 last
year. and for two weeks the exports from
both coasts have been 1854 412 bushels,
against S.5S7.909 last year. The foreign
outlook has much improved. and the de-
cline in price during the week was about
cents for spot and 31a for the nearest
option.
Failures for the week ending July 7
were 81. So. 354 in amount. 1916 al manufac-
turing and SSS976S trading. Failures for
the week have been 2l5 in the United
States. against 1853 last year, and in Can
ada %, against q last year.