The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-05-27

New York, May 26.-R. G. Dun & co. S
Weekly Review of Trade will say to-
morrow:
There is some fear that has no other
source than the habit of fear. Men
have found for so many years disaster
treading on the heels of apprehension
that they lack faith in goods things
present and to come. Every year there
is worry about short crops, and yet the
! crops grow larger. The spectre OF mon
etary trouble hauntS men VINO KNOW
that the country is strong beyond any
need. Promoting methods alarm men
who are already quite aware that IL is
only needful to put promoted stocks in
a class by themselves.
But all the time the volume of busi-
ness is rising. This weeks payments
through the chief clearing houses are
gu per cent larger than last year, ana
6S per cent larger than in 1892 For the
month thus far, the daily average Is
579 per cent larger than last year and
66.4 per cent larger than in 1892. More
over, this week and every other brings
larger wages to many and increased
purchasing power and the demand Tor
products is consequently expanding IN
all branches of consumption.
The rise in Be6semer pig iron to Sl'-Oo
at Pittsburg, 81 in two weeks; in grey
forge to STEPS; in anthracite No. here
to $751; and in local and southern iron
at Chicago, results directly from the
fact that supplies are for the time less
than the demand. Many more fur
naces are in haste to begin work, some
succeeding, but others hindered by djf-
ficulty of getting prompt deliveries Oh
needed parts of machines or prompt
supplies of ore and fuel. The natural
aGn
less work than was done in April or
March is for the time hidden by en-
gagement of nearly all concerns for
months ahead The largest and best
works are catching up with their or
ders, though much behind, and obliged
to refuse many. while others are enter
ing the field. 1t is proof of an astonish-
ing demand that after nearly nve
months this congestion continues, and
the rise in prices, including advances
of 81 per ton in plates and bars, are not
forced or unnatural.
Minor metals have followed London
so long that tin sticks at 1855 cents,
though stocks are large and the de-
mand is remarkably poor, and lead,
at $4.45, though the demand is slow,
while copper weakens to 1S12 cents for
lake. British statistics indicating a fall
of nearly quarter in consumption for
four months this year compared with
last.
The heavy sales of wool, 1854, 900
pounds at the three chief markets, in
three weeks, against 20,1S0,0OO for the
same week in 1897, when the disastrous
speculation of that year had begun to
turn, and 14,212, $50 in 1892, are mostly
to spectators, as manufacturers are
doing scarcely anything. Weeks ago
they held that prices were too high,
even after some decline, for the prices
at which goods could be sold. But
western and eastern spectators have
settled it that the manufacturer will be
forced to buy at such prices as they
may fix, and are taking large quantl-
ties.
The cotton mills have a fairly good
after a considerable advance
in prices of goods, and are producing !
largely The matter has been steady !
at Ga cents, with no ground to expect |
much change, and the best reports IN
dictate a decrease in acreage OF per |
cent.
Wheat advanced cents, but lost /
nearly all the gain on Friday. West /
ern receipts have fallen to about half |
last years and exports in four weeks /
from Atlantic and Pacific ports have /
been 1880, 1853 bushels, flour included,
against 1881 $50 bushels last year,
while from northern lake ports 7,926.031
bushels have gone out this year. But !
men forget that foreign demand. if not
as large as it was last year, with fam
me impending, is much larger than in
the same weeks of 1897, when wheat ex-
ports were only 5,704,334 bushels, and
also forget that the Letter speculation
,aused a wholly unnatural May move
nent last year. for the western receipts
N the past four weeks were $3.50, Cos
bushels, compared with i, 206,255 last
year, but 1861, $50 in the same weeks of
1897, and reserves in that year were not
especially reduced, but closed quite
arge enough.
Failures for the week have been 142,
n the United States, against 245 last
,ear and sixteen in Canada, against
Wenty-one last year.