The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-01-08
Last Years Failures the Best Ever
Definitely Known.
CONSUMPTION OF WOOL
FOR FIVE MONTHS LARGEST
EVER KNOWN.
Recent Raggedness In Prices Is Pas
sing Away-So Far Said to Be
From 90 to 80 Per Cent Higher
Than Year Ago-Iron, Tin and
Copper.

New York, Jan. 7.-R G.. Dun & Co. S
weekly review of trade will say In It's
issue tomorrow:
In failures, 1897 was not only the best
year sinces 1852, but, on the whole, the
best eve- definitely known. With 49,
So failures, in number 11.5 per cent
Ii SIS than 1895, and S1S2, 5S1,7T1 default
ed liabilities, $40 per cent less than IN
1886, the years banking failures count
ed for S,249, 700, and the commercial
failures were but 1851, with liabilities
OF $154, 332, GIL, the average per failure
being only $11, 1853, the lowest ever
known, except fn-1S92. But, even in that
year the failures during the last half
averaged $10,47T per failure. while in
the last half of 1897 the. average was
only SO, 593. The returns by branches
or business show that in Is out of rs
classes, the failures were lower than
in any previous year of which there is
record, with, an especially large de-
crease in the great number of unclaS-
sifed manufacturing and trading fail
ures. The new year began with disap-
pointment for spectators in stocks and
grain, which is not a bad sign. Prices
of stocks have gained a little, after
yielding at first and close IS cents per
share higher for railroads.
ABOUT WHEAT.
Wheat declined ~ cents, owing to
the termination of the corner at Chi
cago, and northwestern receipts were
about double last years, with Atlantic
exports 2,S40,31S bushels, flour includ-
ed. against 2,150,909 last year.
A speculative estimate makes the
quantity still in farmers hands 40 per
cent oe the crop, which is quite pos
sible, but consumption and exports in
half the year ought to take more than
40 per cent of the years supply. Ex-
Forts OF corn for the week fell below
last years, although western receipts
are unusually large, and the price fell
but q oe . cent.
Cotton manufacture is little en-
couraged b. larger demand for goods
since the reduction in prices But with
the certainty that the print cloth works
are to continue. prices have further de-
clined 214 cents.
WOOL.
The wooden and worsted mills are
both buying wool quite largely, at
prices probably close to the best, for
reports which declared there were no
concessions a month ago are now re-
joicing that recent raggedness in prices
has passed away. Behind all, the
market reports there is the fact that
consumption of wool has for about five
months been the largest ever known
and the buying indicates, as does the
demand for such heavyweight goods
as has been opened, that a satisfactory
half year is expected. Prices SO far
paid are said to be from 20 to 80 per
cent higher than year ago, with wool
from 80 to 80 per cent higher, but the
buying is thus far encouraged by I'M
usual business for the season.
Iron manufacture is encouraged by
unusual business for the season, in
Guiding a large building contract made
and others for bridges pending at Chi
cago, a sale of 1000 tons of pig to one
pipe foundry at the east and contracts
for two vessels of 5000 tons each at
Cramps yards and contracts for $500
tons hoop at New York and 500 for
Mexico. The prices are generally I'M
changed, though eastern works have
81. Is. Pig is unchanged, with fairly
large sales.
TIN AND COPPER.
Visible supplies of tin are 29,S55 tons,
against 32,342 a year ago, with 1877
cents quoted, and with exports of TO-
$4,000 tons for the year. Eleven cents
is now quoted for lake.
Failures for the week have been 322
in the United States, against All last
year, and in Canada 80, against 62 last
year.
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