The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-06-04
Marketing of Grain Is Still the Sus-
tanning Factor.
IRON INDUSTRY BOoMs
AN UNPRECEDENTED DEMAND
FROM IMPLEMENT WORKS.
Factories Are Crowded With Business
Light Demand For Wool, and
Prices Have Observation-Disclosures
For May Smaller Than Year Ago
Review of Speculation.

New York, June 3.-R. G. Dun & Co. S
weekly reveiw of trade will say tomor-
row: May having been the first full
month of actual war, the fact that fail
ures in that month were smaller, even
though but little, than in the CORES
ponding month last year and nearly 10
per cent. smaller than in May, 1896, is
somewhat encouraging, the more be-
cause a year ago the remarkable de-
crease in May gave proof of the heavy
improvement in business which made
the year so gratifying in general re-
suits. Large failures were eight in
manufacturing, for 81, 385, 900, this year,
against thirteen. for $2,965,O00 last year,
and in trading, five, for $500, GOO, against
ten for 81, 572,O77 in 1897. Hesitation in
extending usual credits soon after war
began naturally affected weak more
than strong concerns, but 1t soon gave
place to steady and increasing conf
dence.
Wheat dropped "a cents from the
highest point after the May deal Gull
minated and has since been weaker for
July because of accounts promising an
enormous yield. Those who were near
est the truth last year now predict
about 700,000,000 bushels for 1898 and all
accounts make acreage much larger
and conditions much better than a year
ago. But with $115 still paid for No.
red in elevator and foreign demand
taking 1924, 49S bushels, flour included,
from Atlantic ports for the week,
against 21657S7 last year and 3S5, 4S9
from Pacific ports against 1899 last
year, the decline evidently hastens the
marketing of the surplus and gives the
new crop a better chance. 1t rs not less
surprising that western receipts for the
week were 4,263, $50 bushels against q
099, 1916 last year, although the crop has
been by some supposed to be almost
exhausted, and corn receipts were also
1916, 491 bushels against 6,116,523 last
year. Exports of corn for the week
have been 4,SS1.S21 bushels, against l.
926,566 last year, and for the first time
in their history, exports of such grain
have about reached 2O0,000 900 bushels
in the same year.
Wooden mills are encouraged by
somewhat larger demand for goods, in
part from government orders, and are
averaging about l per cent. better
prices for goods than a month ago.
There is not much demand for wool,
which is still held in the main above
the views of manufacturers and prices
have declined an average of one-half
cent for the month.
The iron and steel manufacture leads
all others IN gain over previous years,
its consumption of pig being apparently
more than a million tons per month. or
22S, 00G tons each week, against 10, $50
tons per week in May, 1892, an increase
of 1856 per cent. Works beyond the AL
leghenies are crowded with business,
and while some eastern concerns are
running part time, mostly bar mills, the
government demand is felt most in this
section. Above all others in signif-
canoe is the wholly unprecedented de-
mand from agricultural implement
works, which throw in the shade all
their past orders, while the plate and
rail manufacturers are beating all rec
ords, partly with foreign orders, one for
Canada having been placed at Chicago
of $4,000 tons. Structural work is very
heavy, the west furnishing a large
share of it, and in sheet bars and rods
for fencing the orders are large. Prices
of pig have been somewhat strength
ened by the enormous buying orders for
Bessemer and basic at Pittsburg and
of charcoal at Chicago.
Failures for the week have been 222
in the United States against 241 last
year and 16 in Canada against 80 last
year.