The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-07-30

New York July pr. G. Dun &
Co.'S weekly review of trade will say
tomorrow: Big business in January is
expected, but big business in July
means more. 1t is the month Of ali
others when trade is naturally light,
new engagements are ordinarily de-
ferred and men wait for the outcome
and movement of crops. But more bus
mess is being done this year than in
any previous July Of which there are
records. The payments through clear
ing houses have been 3.S per cent larger
than in 1892. the year of greatest pros
perity heretofore. and for the month
thus far So per cent larger than last
year, and 81 per cent larger than il
1896. But these records and the others
have 10 be judged in the light of heavy
declines in prices since 1892, so that the
volume Of business transacted is about
20 per cent larger than the volume of
payments indicates.
Considering that the purchases of
nearly half the people depend on the
success of agriculture. and that the
prosperity of the entire transporting
interest is materially affected by the
size of the crops to be moved, it may
be said that the promise of general
prosperity this year is unusually bright
The official report of iron production
for the first half of 1898 shows an in
crease of over 100000 tons, compared
with any previous half year, and what
is far more important, the consump-
ton in manufacturing appears for the
half to have exceeded the output Es-
timating the exports for June, only five
months having been officially reported,
the consumption has been 5,94S, 345 tons,
against 5.909. 70l produced. averaging
99l39l tons monthly, against 9S4.9
tons produced. 1t is well to remember
that in June, when production declined
because OF stoppage for repairs. the
decrease in unsOld stocks was 4.216 tons
weekly. The new orders received are
surprisingly large for the season, COW
ering 5000 tons at New York for rails
and 10000 tons for Russia and 5000 for
japan, with 10000 taken at Chicago,
and a noteworthy demand for structu-
raj forms at Philadelphia and increas-
ing demand for bars, with enough to
keep the plate mills busy for a long
time; larger demand for bars at Chi
cagO. including one order for 5000 tons
implement stuff. and an excellent
structural demand and the heaviest de-
mand for plates ever known at Pitts
burg. Sales of Bessemer iron have
been heavy, reaching $4,000 tons at
Pittsburg, without change in prices.
Wheat.-ReceiptS for the month thus
far have been 1908. 1888 bushels against
10, 652.OI4 last year, but prices have de-
clined liz cents. and farmers are hold
ing back their wheat in the hope of
higher prices. The exports for the
week have been 1.307. SIS bushels from
Atlantic ports. flour included, against
I1iS,73S last year. and, from Pacific
ports, l26,l17 bushels, against 429 291
last year, making for the month $685.
1913 bushels, against 7.342, 467 last year
The sales of wool show remarkable
increase in large transactions. for
which no prices are named, four being
quoted at Boston covering $500. 600
pounds, and the aggregate at the three
chief markets has been 1899. 800 pounds
for the week, and, for four weeks. -
$4,000, of which 12,511, 400 were domes-
tic.
Failures for the week have been 225
in the United States. against 236 last
year, and 26 in Canada, against % last
year.