The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-07-23

New York, July Pr. G. Dun & Co.,
in their weekly review of trade tomorrow,
will say: a state of war does not disturb
business. but reaction after a phenomenal
movement of grain causes relative loss.
which many mistake for decrease in the
volume OF trade. So much grain has been
required and shipped during the past u
months that decrease was Inevitable,
and the granger and Pacific roads show q
loss in earnings. even compared with 1892.
though not much yet, compared with last
year.
After the surrender of Santiago barely
a Week of rest has preceded the sailing of
the Porto Rico forces. but meanwhile the
proclamation opening Santiago to trade
on terms singularly favorable to the in
habitantS there and the efforts to build
up business in eastern Cuba, are oc-
cHpying the thoughts of many enterpris-
ing firms. Reduction of one-half in the
tax hereafter paid. with honest admins
tration. brings home to Cuban residents
the meaning of the change. and they also
learn to use money which appears just as
good as gold, which, for them, IS a long
step forward.
In the stagnant midsummer season,
with business larger than ever before, the
great manufacturers nearly all share
the gain. Once before. in 1895. with an eX-
traordinarily small movement prior to
July, the shipments of boots and shoes
were larger than this year, but in no other
year have shipments in three weeks of
July been as large.
Only 5.253, 200 pounds of wool was sold
last week, and in three weeks only r.,
$4,000 pounds at the three chief markets,
of which S.12O.7O0 pounds were domestic.
against Si124, 200 pounds last year. and
.. 347. $50 pounds in the same week of 1892;
lS.509,000 pounds being domestic.
The iron manufacturers seem to be at
the verge of another revolution, since bes-
semer pig is held by curtaiiment of pro-
duction on the Shenandoah and Mahon-
ing valleys at S10.25 at Pittsburg, and yet
some steel works have made enormous
sales of billets, 100000 tons to the great
wire association at prices unknown. 10000
tons to parties at Chicago at Sl5.75, and
10000 tons at Pittsburg at Sl5.75. The
the works busy and includes for the week
$500 tons at Chicago in three contracts.
and 800 at Pittsburg in four others. while
the plate mills are everywhere crowded,
sheets and bars are both in better demand
than heretofore. and the prolonged weak
ness in cast pipe, which usually requires
nearly 7C0 900 tons of pig in a year, may
presently be cured.
Heavy sales OF lake copper have fixed
the price at III cents and the OUTPUT of
American, against 4,S40 tons foreign al
though three years ago the foreign out
put considerably exceeded the American.
Tin at $15.55 and lead at $3.9212 are both
shade weaker.
With abatement of foreign needs and
prospects of excellent crops in many for
eign countries, wheat has declined dur
ing the week cents in price, notwith-
amounting to 1.397,02O bushels. against
l 1897 bushels last year. and from Pacific
ports 81. 1855 bushels against 1923 bushels
last year. Total exports for three weeks
have been 1889, 259 bushels, flour included
against 5194.4SS bushels last year
Failures for the week have been 207 in
the United States. against 227 last year.
and II in Canada, against IS last year