The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-11-11
Encouraging Report Of Trade For
the Past Week,
WOOL VERY STRONG AGAIN
TEN PER CENT HIGHER THAN
TWO WEEKS AGO.
Immense Sales, Aggrsgating. Over
10000, 900 Pounds-other Arti-
cles That Make An Extraordinary
Showing-Demand Continues to
Exceed the Supply.

Co.'S weekly review of trade tomorrow
will say: The most noteworthy feature
of the week is the rise in prices. Cot
ton rose on Wednesday to 7.sl cents,
with much excitement, putting the price
and yet it was still higher in Septem-
Der, 1897. Wool has risen relatively
more. about 10 per cent in two weeks.
and the average of fU0 quotations py
Coates Bros. is higher than IL has been
at any other time since May, 1898. Pig
iron has risen further, S25 being quoted
for anthracite No. I. the highest price
since January, 1888. But hides are at
the highest point since January, 1878.
having risen all the year with very lit
tie reaction. Prices of products have
not correspondingiy advanced. Leather
and boots and shoes were higher in No
vember, 1895, than they are now. cot
ton goods were higher in January, 1896.
wooden goods in July, 1894. and even
the products of iron, although greatly
advanced, are not as high as they were
in January. 1890
Such wide discrepancies in advance
cause much embarrassment. but are
the natural characteristic of rise
which is mainly due. not to concerted
action in any trade. but to the pressure
of a consuming demand. the greatest
ever known, which, for the time, ex-
ceeds supplies. though very unequally.
Its results begin to justify the eonser-
vative feeling which finds expression
in many branches of business.
The iron industry. which has led all
others in the advance, now leads the
way toward a readjustment of values.
While contracts for pig cover the en-
tire product of the most important dis
tricts for six to nine months in ad-
vance. many of the consuming works in
some lines approach the end of their or
dcrs and have new competition to meet,
so that sheets have fallen 81 per ton
at Pittsburg and 50 from the highest
point in September, and plates are Sc
lower there and So at Philadelphia. At
the same time bars are 81 per ton
higher, both at Philadelphia and Pitts
burg, the demand enormous. and at
Chicago very heavy contracts have been
made for car and implement works. A
bridge combination is thought likely to
affect further business in structural
shapes, which continues large for the
season.
A break in the London market de-
pressed tin, and sales were made at 2S
cents. Boot and shoemakers are gen
orally getting about the 10 per cent per
pair advance they have held necessary.
lines as they now wish TO close, in view
of the uncertainty about materials.
Leather continued very strong, and in
that also dealers are not anxious for
greatere commitments, but consuming
causes large sales in advance
of production.
Wool has been very strong again,
though sales at Boston were but 49,
ia4, 600 pounds, against q. 557, 800 pounds
ha haf hrrf 1al. fra, co ctin
elsewhere raised the weeks aggregate
to 20, 900, and buyers hold firmly for
outside prices. Nothing like the sensa-
tional rise of last week has continued.
and the buying by manufacturers y
slow. though still large. This and ac-
counts of good trade indicate that an
business is expected for
the next season.
The rise in cotton as yet helps man :
facturers whose contracts cover pro-
duction well ahead. but the buying has !
been mainly by traders and based |
largely on expectation of a very low |
estimate of yield by the department. |
While last years official estimate was |
not highly accurate the whole trade |
here and abroad then counted on a |
arge crop and was ri..ht. : |
Wheat has not been very active nor |
strong, although western receipts have |
much declined, being 1881. s07 bushels |
'or the week. against 1924 45 bushels |
asst year. Exports are also smaller. the |
atlantic 1858. 637 bushels -four includ- |
ID, against S.3sS.509 bushels for the same
week last year. and Pacific. 1.lSS $50
bushels. against 1,016.9S1 bushels ~
-ear. The decrease in foreign demand
nay be ascribed in part to heavy pre-
rious exports, but perhaps still more to
he great movement of corn. BASS, 104
bushels for the week, against 2,062. 3S1
bushels last year. Corn advanced about
Is much as wheat fell. though with
prospects of a henvy yield.
Failures for the week have been 157
n the United States against 2l1 last
ear, and % in Canada. against 26 last
ear.