The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-12-16
WEEKLY TRADE REVIEW
Business Of Productive Industries
On he'Increase.
MANY HANDS EMPLOYED
YET STOCKS OF PROSPEROUS
COMPANIES DECLINE.
Various Causes Assigned to Bring
About Such Condition of Affairs
Iron Production Still Expands
Wool at a Standstill-On Stock
ExchangsBank Clearings.

New York, Dec. 15.-R. G. Dun 6
tomorrow Unusual depression il
stocks this week has displayed the
great divergence between the trading
and the productive industries of the
country and its speculation. Never
has production been greater. the num-
Der OF hands employed larger, the
wages distributed higher. or the pur-
chasing power, based upon earnings
greater than at this time. and never
have conditions of trade or returns OF
earnings given certainty of greater
business for transporters- Yet, as the
earnings of the railways and nnanufac-
turing companies mount upward, their
stocks decline as if it were disastrous
for a road to double its earnings, and
ruinous for mill to realize unprece-
dented prospects.
Inflated capitalize ton has, of course,
done much harm, and speculative ex-
citement has counted profits in many
cases long before they were earned.
Money markets here and abroad have
been strained by British reverses in
South Africa, and wherever they were
overloaded have been pushed TO quick
and disastrous instead of gradual IL
quotation. The result is that the indus
tries and transporting companies real
ize great profits: the speculative holders
of their stocks realize severe losses.
Iron production still expands The
Iron Age reports the output of pig
296,959 tons weekly, Dec. l, against 2SS,-
522 Nov. /. and the decrease in stocks
not held by the great steel companies,
5000 tons, A Pittsburg company
bought 10000 tons of Bessemer for S24
at Valley mill. which is below recent
prices, and grey forge is quoted a shade
lower at $21. Bars are again Irregular,
81 for common at Pittsburg and % for
refined at the east, and plates not ex-
cee6ling sixty inches are sold at "a by
mills out of orders, while it is said "a
cents is shaded at times for No. q
black sheets. but nearly all works still
have orders far ahead, and in other spe-
cialties prices are unchanged.
The collapse of London speculation
dropped the quotation of tin to "a cents
here with recovery to 25tz cents, and
copper is weak at 16s4 cents. but lead
is shade stronger.
The boot and shoe workers are hast
ening deliveries to meet the enormous
consuming demand, and have shipped
from Boston 1S6,421 cases in two weeks.
of December, against 152,66S last year
and stillless in any other year except
1897, when 1884 cases were shipped.
livery on past orders at lower prices
are slow to place more at the higher
prices now asked, while most of the
works holding orders for some time
ahead are not anxious to take more at
present.
Leather continues very strong. with
scanty supplies of sole, but great de-
mands for upper.
The movement of wheat is disap-
pointing, but prices have declined only
a. with corn fraction higher. At
lantic exports Of wheat. flour included,
have been in two weeks of December
only 5,32S604 bushels. against 11,129,459
last year, and Pacific exports 1901. 9S2
bushels, against 1.29S,514 last year.
in western receipts, only g.
975. 725 bushels, having come forward in
two weeks. against 17.74S.411 last year.
is remarkable. though the movement
then was abnormal.
Exports of breadstuffs in November
decreased $500. 900. which. with losses
IF 100000 in provisions and Sl3,OOO.0cO
in cotton, lowered the value of staple
exports S15,33l .56l in spite of an increase
Of 50 ,000, 900 in OIL But enormous ship
nents of products made the excess of
over imports more than si9,-
100 coo for the month.
Wool did not advance further. though /,
:ales scarcely diminished and have been /
g. 075, GOO pounds in two weeks at the
hree chief markets, so far exceeding
I'll consuming demands that specula-
ion must still account for most of the .
business. but there was less excitement ,
md more buying by small works. No !
changes in quotations of good appears. (
hough in some heavyweights for fall |
advances of 10 to Is per cent are re-
ported.
Failures for the week were 21S in the
United States, against 261 last year. and !
wenty-six in Canada, against thirty
me last wear