The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-04-22
TRADE BOOM STILL ON
Heaviest Business Ever Transacted
At Good Profits.
INDUSTRIES NOT HARMED
USUAL TIME FOR FINANCIAL
TROUBLES PAST.
Manufacturers Welcome a Lull That
They May Have An Opportunity
to Catch Up On orders-Irregular
Tendency Shown In Stock Specu-
lation During the Week.

New York, April Pr. G. Dun &
Co.'S weekly review of trade will say
tomorrow:
Nothing appears in business or in
money markets to prevent continuance
of the heaviest trade ever transacted
at good profits. The payment to Spain
is supposed to have caused some rise
in foreign exchange, which would
amount to nothing in any case. as bal
ances due from other countries more
than cover the payment, and advance
bills against crop to come forward in
July and. later will soon be offered.
Loans on industrial securities are still
at higher rates than on railway stocks,
but on good commercial paper or rail-
road stocks money is in ample supply.
and at low rates. Nor have stock OPP
erations caused any appearance OF
pressure. The financing of new cor
porations has passed thus far with less
trouble than had been feared, though
the completing of some organizations
is hindered or has failed.
The usual time for financial troubles
in the spring has passed, and the usual
alarm about the crops has done its
work, and still industries are undis-
turbed. The one hindrance in stock
speculation is doubt about the crops,
but better unofficial reports have sup
ported differences warranted by the
heavy receipts from the firms in the
west and south. Farmers do not send
wheat or cotton to market in large
quantities when crops anywhere near
them are extensively spoiled. Wheat
receipts have been ISL, 343 bushels,
against 5,206,643 last year in three
weeks of April, and the improvement
since April l is worthy of notice. EX-
have a off
both coasts to onl'- 6,774,774 bushels.
flour included, in three weeks, against
1898, 122 last year, and the price closes
but half a cent higher than last week
Nothing but Industrial depression is
left to excite apprehension, but the
industries are meeting something very
unlike depression. The kind of TULIP
that appears in the iron market re-
joices the manufacturers, because they
are crowded far ahead with orders. 1t
means, very true, that many buyers do
not want to contract far ahead at the
high prices now asked, and also that
many orders have been for a time
Withdrawn. 1t also means that manu-
facturerS who are so crowded that lit
tie new business can be taken, are anX-
iouS to get nearer the end of their en-
gagementS before fixing prices for the
future. Almost nothing is done in pig
Chicago and Pittsburg. Heavy de-
mands for bars to be used in car and
other works cannot be met at Chica-
go. Plate mills there and elsewhere
are refusing orders. Contracts for
5000 to 10000 tons structural work at
Pittsburg and some at Chicago are
taken, though many others are de-
ferred, and sheets are less active be-
cause the works are generally too
crowded.
The coke production is still close to
the maximum. London speculation
lifted tin to 251S cents, in spite of 4,44O
tons arrived here, and copper is very
strong and scarce at 1917 cents for lake
with 500 tons brought back from Eu-
rope. though the United States pro-
duction was only 21,91S tons in March
Men who have held wool stifIiy for
more than a year are selling freely at
bottom prices, admittedly the lowest
of the year. Sales at the three chief
markets in two weeks have been 90, 204,
2S5 pounds, of which 1881 5S5 were do
nestle, against 1896, 100 pounds IN 1892
Territory wool, 100000 pounds, was sold
for export to England, and $50, 900
Australian, in bond, which has been
held here fifteen months, fine wool be-
ing very high there while cross bred is
so low that 1T can now be imported.
with assurance OF better prospects for
goods, wooden manufactures are wait
ing for the effect on various combina
tons. The demand is not at present
large, and considerable ma
chinery is idle. Cotton has advanced
an eighth. An advance of &c ii some
staple goods is considered significant,
and may influence other prices
Failures for the week have been 1874
in the United States, against 204 last
year, and % in Canada, against 20