The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-03-05
Weekly Reviews Presented By Dun
and BradStreetS.
DECREASE in FAILURES
MEN WILL FAIL IN THE BEST
OF GOOD TIMES.
Production of Pig Iron the Greatest
Ever Known-Strike In Cotton
Mills Helps the Demand For Pro-
ducts-Old Wool Stocks Pressed
For Sale-Wheat Stronger.

n,
Co.'S. weekly review of trade will say,
in its issue tomorrow:
Stories of the most reckless sort. dis
proved promptly and many of them be-
fore they are told, affected speculation
in stocks much last week, and at times
this week, but they have not disturbed
the industries and the trade of the
country at all. There is confidence that
the authorities are doing what Is proper
TO provide for public defense, and bust
ness is moving on with the assurance
that il will not be seriously disturbed:
In grain, cotton, meat products ana
petroleum markets have been strong.
with gradual increases in the demand
for manufactured products
FEBRUARY FAILURES.
Failures in February have betn
smaller than in any other month ex-
cept three of the previous five months,
with remarkable decreases in the fall-
ures for 100000 and over, though in
number AID amount the smaller fall
uIes show less change than might nave
been expected, indicating that in good
times or bad a large proportion is due
to causes apart from the general con-
ditiocs of business. The ratio OF de-
faulted liabilities to payments through
the clearing houses is but S1.1 per 81
600, a lower rate than has appeared IN
the first quarter of any year except
1880 and 1881 for the past % years. The
best evidence of general Improvement
is the fact that payments through the
clearing houses for the past week have
been $50 per cent larger than In 1897,
and outside New York. with its specu-
lative interests. 17.6 per cent, compared
with last year. the gain has been 5S-z
per cent for the week, and 45.S per cent
fer February.
GREATEST EVER KNOWN.
Production of pig iron is the greatest
ever known, some furnaces having
started up in the past month. but Bes-
semer billets are so scarce at Chicago
that some works are embarrassed and
heavy purchases at Pittsburg, includ--
ing one of $4,000 tons. have stiffened
the price so that Bessemer pig and
local coke at Chicago are stronger than
since November I, with gray forge un-
changed ct pittsburS. Foundry at the
east is slightly lower, basic pig having
been offered in a sharp competition at
about $40, though southern makers in
Alabama and Tennessee, excepting two,
have agreed upon plan of sales
through q commission. The demand
for finished products covers work far
sheets. pipe. since the advance in oil.
and rails with Chicago sale for Can
adam road TO Alaska, but bar is weak,
with Increasing use of steel, and tin
plates are quoted at S2.S5. against 81
for the same quality OF foreign. Tin is
stronger at 142 cents, and lake copper
at $11.S7.
COTTON AND WOOL.
Tho s+rsl.a in cotton mills does not
spread. but helps to slightly better de-
mand for goods, while in woods trade
is slow in some finer qualities, which
have been much advanced in price, and
in these and other grades as well, can
celiations have exceeded recorders, in
dicating less distributing than was ex-
pected ar the advanced prices. Wool
has yielded a little, the average of
100 quotations by Coates Bros. for do
nestle being 20.23 cents, against 20-S3
cents Feb. l, and while yielding is thus
far mainly inferior qualities, stocks at
least three years old are pressed for
sale.
WHEAT.
Wheat has grown stronger, exports
continuing at a rate which threatens
exhaustion of supply If trade reports of
farmers stocks are correct. From At
lantic ports 2,426,240 bushels went out
INCUR lnCluu6u), against l,ooo,tlo last
year, and from Pacific ports 1903,
against 479.9z9 bushels last year. The
price has risen l cent, but it is possible
that the estimates of last years stocks,
though 100000 bushels in excess of
the government estimates, may prove
too small.
Corn has declined only Il of a cent,
with exports at 474S,S43 bushels,
against 1921, 7S5 last year. Failures for
Il ~, TT,ir
States. against 246 last year. and 80 in
Cn,naGa AGAINST 20 La IT