The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-01-21


New York, Jan. 2o.-R. C. Dun &
cos weekly review of trade will say
tomorrow: A new year rarely opens
brilliantly. Too many traders have to
wait for the demand, which, in winter,
comes Slowly The industries resist
fairly well the tendency to unlimited
expansion which some have to meet.
speculation in products is gaining but
little, while in stocks the enormous
volume of business results in contin-
ualiy higher prices. The volume OF
payments through the clearing houses
Is eXtraordinary-42. per cent larger
than last year, 95.9 per cent larger
than in 1897, and 5L5 per cent larger
than in 1892, even the transactions out
side OF New York showing a gain over
tSg2 of 44.6 per cent. Speculation at
New York, therefore, cannot be the
main cause of gain. Difficulties be-
tween holders of material and manu-
tacturers continue to hinder in some
industries, and in some may prove Sc
ilously embarrassing, but the activity
is. on the whole, unsurpassed hitherto,
and the volume of traffic is beyond all
expectations. In some branches con-
sumption is running beyond the pro-
1ucing capacity but in others it is him
dered by doubts about the future sup
plies and prices Of materials.
The wooden manufacturer is still
waiting. with only a-moderate demand
Tor goods as yet. The production is
large, and considerably larger than in
recent years, but does not nearly ap-
proach the capacity of the mills. Sales
of woods for the past three weeks at the
three centers of the eastern market
have been 1S.495.000 pounds, against
22,S22.OC0 last year, and prices of do
mestic fleece are lower, with present
demand running largely to quarter and
half-blood Australian crOssbreds. But
there is not enough change in material
OF in demand for goods to encourage
heavy buying by manufacturers yet.
The iron and steel manufacture leads
all others in the volume Of new bust
ness. While production is much the
largest ever known, many of the
works are withdrawing all quotations
or naming prOhibitOry prices, in order
to check orders, which they cannot fill
Tor months 20 come and do not want
to accept at current prices. The num-
Der of such works is rapidly increas-
ing, as the heavy demand for materials
covers many months capacity. Bes-
semer pig is a shade higher at 5000,
with sales of $4,000 tons at Pittsburg,
and there is something like a famine
In gray forge, with sales at 1915. al
though one sale at $685. in the valley
is reported. While finished products
are in very great demand, especially
for car-building and special works at
the west, the week shows no advance
in prices. excepting 50 cents per ton in
steel rails at the east. These cOndi-
tons favor continuance Of the extra
ordinary foreign trade, which resulted
in the greatest balance in favor of this
country ever known. January this
year indicates a similar excess of ex-
ports over imports, and while wheat ex-
ports have increased every month since
last August, they have been, in three
weeks, 15,07S, or bushels, flour included
from both coasts, against i, 500, $50
busehls last year.
Failures for the week have beeen 2z9
in the United States, against 374 last /
year, and thirty-twO in Canada, /
against ffty-three last year.