The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-08-13
Prospects of Peace Cause An In.
duStrial Revival.
BETTER CROP PROSPECTS
FINANCIAL OUTLOOK rs EX-
TREMELY FAVORABLE.
Dun's Optimistic Review of the Stu
ation-Demand For Wooden Goods
Is Better, But manufacturers Will
Not Pay the Prices Asked For
New Wool-Course of Speculation.

New York. Aug 12-R. G. Dun & Co. s
weekly review of trade Will say tomorrow:
Prospects of peace have HAD curious in
fiuence on business contracts. not quite
! eXplainable on common sense grounds.
Nobody really feared disaster or exhaus-
ton OF national resources. and nobody
feared that anybody else was afraid of
either. Yet orders unusual in number ana
size have been placed since Spain asked
for peace. In some industries the gains
have been large for about TWO weeks,
while in some textile manufactures IL has
only begun TO appear this week, but IN
wolves 2. considerable increase in the
working force Corn prospects are on the
whole more encouraging. for Lhe govern
ment's latest report as to corn is much
| larger than the commercial estimates,
ana It's cotton return promises a heavy
yield while allowance is made for its
habitual error in its wheat return. Mon
ey markets show no signs of possible dis
turbance, securities are stronger and
| there is no harmful speculation ii stocks
or products. Rarely has the financial out
look been more nearly unclouded-
While wheat is cents higher for the
week, there is less doubt than a week ago
that it will rule lower during the coming
year. The general holding back of grain
by farmers and consequent heavy shrink
age in western receipts have reduced the
visible supply below all past records, but
everybody understands that ar this date
many times that quantity is almost with
in days run of Chicago. The more eff
fective change is the decrease in exports.
which have only been S2Si.S19 bushels,
floVr included, from both coasts, against
3/.974 last year, showing but a slight
Increase of half a million bushels for two
weeks. compared with last year. The price
OF corn has declined a shade for cash.
The iron and steel trade fully supports
differences drawn from recent events. The
demand for steel is so heavy that some
of the biggest concerns have been buying,
one taking 10000 tons, advancing the price
at PittSburg from $3.50 to $15.25, which
was a last refused. Bessemer pig is
steady and other pig there and at eastern
and western markets generally steady,
butte rails have been advanced by eastern
makers to SIS per ton. The makers of
structural beams have advanced the price
81 per ton, and makers of merchant pipe
have advanced the price per cent. while
plate makers are crowded to the oint of
refusing orders, both east and west, and
bars are stronger with many mills en-
gagged for weeks ahead. Illustrating the
demand are reports of orders for 10000
car axleS at Chicago, 10000 tons struc-
tural work there and big orders at Phil
adelphia for cast pipe and 6.000 tons else
where.
Eastern works now appear to be crowd
ed to their utmost capacity as the west
minor metals there is heavy buying. Tex
tile works have been sleeping, but are
awakening.
The demand for wooden goods is now
much better, although not yet extensive
enough to warrant paying the prices
asked for new wool, and nearly all of the
buying has been of old stock. The ag
gregate sales at the three chief markets
have been only 200 pounds for the
week, about a third of the sales in the
Same week of 1897 while in 1892. for the
corresponding week, sales We're 7164,6O0
pounds.
For the week failures have been 1876 in
the United States, against 239 last year,
and Is in Canada, against S8 last year.