The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-07-15
Volume of Business 63.7 Per Cent
Larger Than Last Year.
WATCH SIGNS OF TROUBLE
PROSPECTS, HOWEVER. CON-
TINUE TO BE ENCOURAGING.
Business Failures Still Chasing the
Lowest Record and Exports of
Staples Improve Materially
Railroad Business By Far the
Best Ever Known.

New York, July AR G. Dun's
weekly review of trade syill say tomor-
row: Because every prospect pleases,
it is the right time to watch most close
ly for signs of trouble But it is not
| easy to find them when the volume of
| business is 63.7 per cent larger than
last year and 75.5 larger than in 1892,
the best of all years except the last,
or when failures continue the smallest
ever known, or when the exports OF
staples begin to improve materially, or
when railroad business is by far the
best ever known, or when New York
bankers appear in international opera
tions, listening to a Russian inquiry
and undertaking a Mexican loan
Even then the industrial disputes
incident to the season cause less trouble
than usual, the largest of them having
been settled Thursday by the tin plate
company. The bank of England finds
1t difficult to borrow more from this
side and frankly raises it's rate, while
this country begins to ship fresh crops
for which Europe will run into debt
Iron production in the first week of
July was 263,363 tons, for the past two
weeks less, because a strike on July
1, closed seven Shenango furnaces pro-
.ducing 1,200 tons daily. though it is ex-
pected to end today, and several other
furnaces have begun producing this
month. The increase of 1901 tons
weekly in June with a decrease of So
400 tons in unsold stocks, not of
the great steel companies, implies a
production of about l, 12S690 tons in
June.
Consumption would be 100000 tons
and in the half year 6,S44, 215 but for
the fact that steel makers have stock
or hoe ING
through most of the year drawing from
outside supplies, so that consumption
proves only $500, 900 tons, or even less.
Prices are climbing, but only for the
trifiing surplus not covered by con-
tracts, so that quotations represent but
an Insignificant part of the actual bust
ness. 1t is of more Importance that
new orders, though many, seem no
longer equal to the weekly output ex-
cept in few branches, while furnaces
and other works practically abandoned
for many years are being started
again.
Copper is a shade weaker at 1914
cents for lake. government reporting
the output in 1898 as 526. 375, 1871 pounds.
Tin is strong with London specula-
ton at 2S-25 cents and lead is advanced
by the smelter company to 4.55.
The largest shipments of boots and
shoes in any year for the season, 1885,
0S0 cases in two weeks, greater by ia |
per cent than last year; Sc per cent |
than in 1897 and 29.4 per cent than in
1892, result from very extensive pres |
sure to anticipate orders for August or |
distribution far exceeding /
but there are reported |
with such appeals not nearly as large |
though numerous duplicate orders, |
Hemlock sole leather sells largely but |
some kinds slowly with slight yielding
prices.
Though cotton is steady in spite of
Texas floods at GIG cents and the gen
aral demand for cotton goods is full and
prices, a reduction of half a
cent in some fancy prints is reported.
Larger distributions are expected this
month and export demand increases.
In wool great speculation is in pro-
yress. Sales in two weeks reaching 3D.
.61, 100 pounds against 24,57 500 in 1888
when buying was to anticipate new
iuties. 1t is worth noticing that no
purchases by manufacturers are men
Toned save on for 400 pounds, though
here is much calculation that 'the
must buy" at any price
lsked. Western frenZies sometimes
make eastern markets but as rule
consumers make prices in the end.
In sharp contrast with official and
'ther wheat reports are the recorded
eceipts at western points, S.0Ss. lac
bushels in two weeks, against 1,471. 739
asst year. 1t is not strange that prices
lave declined rs and exports. flour in
luded. were from Atlantic ports in
uly thus far 4,1S5,914 bushels against
,0S3,312 last year and from Pacific
orts 1,11e,4S5 against sol, 100 last year,
esides 505,5S5 bushels this year from
Their ports.
Failures for the week have been 1863 in
ha ITnjfod Stateg against 2l5 last wear !
nd twenty-four in Canada against | :
last wear ,