The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-10-01
Smaller Than For Any Quarter
Since 1892.
STAGNATION in WOOL
SALES SMALLER THAN IN THE
PANIC YEAR OF 1898.
Some Mills Have Started Temporarily
to Get Out Samples-Cotton Has
Reached the Lowest Point For
Fifty Years-Activity Il the Iron
Trade Continues.

New. York, Sept 3O-R. G. Dun &
Co.'s weekly review of trade will say:
Failures in September have been about
Sc OOO,O 900, and for the quarter. about
so, S75, coo. No report covering the ex-
act month or quarter is possible this
week for a journal which must go TO
press on Friday, the Both, but the re-
turns indicate a smaller aggregate of
failures than in any other month in
many years. except in August of this
year, and smaller for the quarter than
in any quarter since 1892. In fact, eX-
cepting one quarter in that year, no
other appears to have shown smaller
aggregate, unless more than ten years
ago, when the volume of solvent bust
ness was very much smaller than it is
now. Evidently the complete returns
TO be given next week will show that
the state of business is in that respect
more satisfactory than it has ever been,
unless in this quarter of 1892.
Changes are all for the better, ex-
cepting the fall of cotton to the low
est point for so years, and even the
lowest prices of 1S4S, considering diff
ference of qualities, We're, perhaps, not
lower than prices this week. If there
were not on hand commercial and mill
stocks unusually large, or if manufac
turing were more successful, early re-
covery might seem probable, but the
heavy fall in~material has affected the
demand for goods, causing buyers to
expect still lower prices for cotton.
Goods now average lower than ever
before
While the stagnation in wool con-
tinues and sales are smaller than in the
same month in the panic year, 1893, nu-
merous millsA have started temporarily
to get out sample pieces. There has
been no notable decline in wool, and
scarcely any in goods, the recent re-
duction having stimulated larger de-
mand.
The demand for boots and shoes
seems little better, and recorded ship
ments have been larger than in Sep
TENDER of any year, except the last, and
larger than in any other year from
Jan. to date.
In the minor metals slight weakness
in tin and lead does not indicate smaller
consumption, while copper is strong at
1914 cents for lake and spelter strong at
S4.321a. Nickel is higher at 80 to So
cents, and tin plates unchanged, in
spite of the enormous increase in pro-
duction, though the desire to push
smaller works into the consolidation
which now commands ia mills, is said
to threaten temporary decline.
With pig iron everywhere, in spite of
the extraordinary output, and Besse-
mer held at $10.45 at Pittsburg, while
valley producers report $50. 900 tons sold
for delivery before June next, the con-
sumption is evidently growing The
weeks reported contracts include one
for 1900 tons pipe from basic steel by
the Standard Oil company, material for
1000 cars ordered by the Pennsylvania,
structural work for many ordinary and
two large buildings, and heavy orders
for plates, partly for two lake vessels
and partly for eastern shipyards, which
have larger business than ever. The
demand for iron bars, owing to the
increased use of steel, is in some quar-
tiers below expectation, and shipments
are less active at Pittsburg, though the