The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-11-05
F NANCE AND TRADE
Business Not Disturbed By Ap-
preaching Elections.
FAILURES WERE SMALL
AND CLEARINGHOUSE VOLUME
8 PER CENT INCREASE.
Ease of Money Contributed Largely to
Indisposition of Holders to Part
With Securities-Dividends Indi-
cate Progress Making By Large
Industrial Corporations.

New York, Nov. Ar. G. Dun & Co. s
Weekly Review of Trade will say to-
morrow: Not even the election has dis
turbed business or industries on the
financial side this week. Although
many are doubtless awaiting the votes
before borrowing, the volume of bust
ness through clearing houses is 8 per
cent larger than last year and 1.54 per
cent larger than in 1856. While po
litical doubts may count for much.
they can only have prevented a growth
Of business which might have been
much more than has been realized.
Failure returns for October are curl
ously puzzling because, while the
small failures compare remarkably
well with those of previous years, and
those of 500. 600 or more in about two
thirds of the business classes. there
were large failures in a few branches
not generally due to present business
conditions, which made the aggregate
$34, 900, Co., but neither the Sawyer
wooden failures nor others, excepting,
perhaps, some in machinery and boots
and shoes and leather. indicates diff
culties beyond those of the particular
concerns failing.
Neither the volume of business nor
the value OF manufactured products
diminishes. While Bessemer pig is sold
against the combination at Pittsburg
10 cents lower, with other iron there
and elsewhere steady, the general de-
mand crowds closely on the heels Of
production. Billets and steel prices,
owing to prospects regarding combina-
tions. are a shade lower. and prices Of
steel rails have been withdrawn be-
cause of reports that promise a single
corporation to handle all the rail pro-
duction, 1900, 600 to 2000,000 tons yearly;
but plates are supported by heavy
railroad demands at Chicago and at
Philadelphia for shipyards, the bar
mills are crowded at all western works,
OF the season, new structural
orders, business is very salts
factory and pipe works at Chi
cago are far behind on deliveries,
while sheets there are strong. London
has hoisted the speculative prices of
tin and of copper, but they closed at
1915 and 1872 cents here, with lead
weak and at 3.65, and tin plate prae-
ticaliy unchanged. Woolholders at
Boston have discovered the falsity of
reports which they have long believed
about the available stocks in this
country, and have begun selling large
ly at concessions said to be several
cents per pound. Theswee!z's sales at
the three chief markets were 1879, 400
pounds, against 1851, 9O2 pounds last
year and 1861, 500 pounds in 1896, but
only S,215,000 pounds in 1892. The
cheering fact is that the large manu-
facturers are now buying with conf
dence that at some reduction in the
cost of material the business will pay.
Wheat exports continue very large,
amounting TO 4.6995S6 bushels from At
lantic ports. -four included, against g.
297, 53S last year, and 1,029,S 3S from Pa
cific ports, against 1882, 252 last year;
but the heavy exports have been much
more than matched by western re-
eeipts of 9,430,092 bushels, against l.
600,993 last year. and prices have not
changed materially. Corn goes abroad
largely, 3,O11.0S5 bushels during the
week, against 1,S12, 944 bushels last year,
and prices are well held.
Failures for the week have been 1919
in the United States. against 276 last
year, and Is in Canada, against 30 last
year.