The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-02-12
Review of Business Conditions BY
Dun and BradStreet.
ENORMOUS IRON OUTPUT
LARGEST FEBRUARY BUSINESS
IN ITS HISTORY.
Copper, In Spite of Enormous Ameri-
can Production, Rose TO II Cents
or Bstter-Prices of Wool Still
Strong In Spite of Indifference of
Manufacturers.

New York, Feb. 11-R. C. Dun &
in it's issue OF tomorrow:
Business is pushing toward spring
activity rather early. Events which
have controlled are good buying of iron
by the largest makers, the rise in cot
ton with strength in goods, the great
railway consultations and the Cuban
instruction. The latter with its pos
sibilities, operates as a brake on spec
ulation, and foolishneSS of local traders
gave foreigners a much desired oppor-
tunity to buy stocks on balance, about
$4,000 shares. January earnings, $685.
OH. III. already reported. are 1876 per
cent better than last year and 50 per
cent better than in 1897. showing the
best month in six years at least, and
February returns thus far are prOmis
ing.
IRON TRADE.
The output of pig iron in February
was 229, 1913 tons weekly, the largest in
the history of the business, but the re-
ported buying of 10000 tons of Besse-
mer iron by the Carnegie company and
100, 900 by another of the largest steel
concerns, nevertheless, means the de-
cision by the ablest manufacturers
that the unprecedented output of pig
ing demand for finished products. The
Illinois Steel company has contracted
for 100000 tons Bessemer ore, and
producers of other ranges count upon
an advance in prices. Bessemer pig
rose to Sl0.15 and grey forge to 50 at
Pittsburg, with finished products gen
orally stronger and in large demand
al this season.
Rail contracts already cover it is
said, more than last years production,
the railways buying earlier than usual
Bar contracts for cars, wagons, etc,
from the farmers are heavy at the
west; structural contracts there are
numerous. and at the east with $4,000
tons estimated for New York build
ings alone this year, while plate and
sheet contracts for the season are I'M
precedented.
January was one of the biggest
months in Connelville coke output $685.
600 tons, and furnace continued at the
same price. Tin rose to II cents, in
spite of heavy shipments, and copper
to II cents or better for lake, in spite
of enormous American production.
RISE IN COTTON.
The rise in cotton, 5-16 cents, for the
week results in part from better pros
poets for manufacture here and abroad
only in part The actual movement
shows no change of consequence, but
prices of goods have a stronger tone.
manufacture should soon feel the heavy
demand which the other industries are
meeting.
WOOL.
Wool sales at the chief cities were
only 5.353.000 pounds for the week, and
II ,664 500 pounds for the two weeks, /
against %. 721, 500 last year. Prices are
still strong, in spite of the general in |
difference of manufacturers, who seem !
to have secured ample supplies. For
the better grades of wooden goods an /
advance averaging 1850 per cent ad- |
vance from last year is readily main /
tanned.
The opening of works idle for a year /
in spite of the heavy production already /
assured, is a striking feature in this, |
as in the iron and other industries, and |
implies heavier demands for products |
than are now met by the unprecedent-
ed output.
WHEAT.
Wheat has been strong, with spot ad-
vancing cents and May "a cents,
though western receipts have been for
two weeks 1858, 176 bushels, against g.
BIZ 975 last year, but Atlantic exports
have been 5,274,43S bushels. flour in
Guided, against 4,026,596 in two weeks
last year. with Pacific exports large
CORN.
Corn exports are also surprisingly
we'll sustained, 1854. 1852 against 1929
sos last year, and the price has ad-
yanced a tritle. 1t is yet too early for
prospects of a coming crop to influence
markets materially, and heavy opera
lions at Chicago, with reported sales
If a million bushels for export on
Thursday have deferred speculative
selling.
GENERAL BUSINESS.
Business shown by bank clearings is
again larger than ever before. 54.7 per
cent larger than last year for the week,
and for the month to date 44.3 per cent
anger than last year. and 1876 per cent
anger than in 1892.
Failures for the week have been 295
n the United States, against 267 last
year. and AZ in Catnada, against 81
asst year.