The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-04-15
TRADE IS INCREASING
Flattering Report For the Week
Just Ended.
MONEY MARKET IS SAFER
ONLY STRINGENCY HAS BEEN
IN CALL LOANS. F
No Such Expansion In the General
Business of the Country Has Ever
Been Seen Before-Financial Re-
view of the Week-Bullish Spec
ulation Temper.

New York, April 14-R. G. Dun &
So.'s weekly review of trade will say
tomorrow:
There is still Increase in all legiti-
mate business and the productive pow
er of great industries increases even
though some Of their stocks decline.
The sharp reaction il speculation a
week ago in no way affected the pro-
ducing capacity OF furnaces or mills,
and has been in part recovered, while
the disturbance of business caused by
the formation of great combinations
has in az large measure ceased. The
money market is in safer and more
wholesome condition and in spite Of
four heavy payments by large synd1-
Gates, amounting to about S50000,009
has grown easier. The only strlngencg
has been to call loans.
1t is not owing to speculation alone
thatSpayments through the chief cleai'-
ing houses have been so per cent larger
than IN the same week Of 1892 and
1888 per cent larger than last year.
New York transactions far exceed
those OF any previous week, $l.46S, 5O2, Uy
in amount. bur outside New York the
clearings We're 41.5 per cent larger than
in 1898 and AS per cent larger than
in 1892. The truth is that no such eN-
pansion in the general business. of the
country has ever been seen before and
if such records only We're considered
there would be ground for fears that a
wild passion of trading had again lifted
the whole business community of Its
feet. 4
But instead there is found surprising
increase in the chief Industries. Nam
ing first some of which only returns of
raw materials imported give definite
indications. raw silk imports increased
81 per cent for eight months OF the
fiscal year over last; hides 40 per cent;
India rubber 20; tin p and tibres 10
per cent.
The output of pig iron April 1 was
245, 745 tons weekly, against 22S19S tons
March I, with 115 lis tons decrease in
stocks unsold and 16,600 tons in warrant
stocks. Indicating consumption in
manufacture Of l,O56,045 tons in March.
The haste of forty other furnaces to
get into operations with their possible
output of 10000 tons more weekly, mas
helped to keep prices of pig iron quite
steady, although strong, but the de-
mand for finished products is FAR from
satisfied. The Maryland Steel COM
pany has orders for 10000 tons steel
rails for the Chinese Eastern. Plates
have sold at 30 for sheared at Pitts
burg, but the leading mills there and
mills elsewhere are crowded for months
and many viii not quote at all Large
contracts were closed in structural
works, one of 5000 tons, just before the
advance in prices, but Chicago orders
this week covered 5000 tons bridEework
and everywhere there is much business
in sight
Bar and sheet mills are hindered by
prospects of constellation. but though
few orders for bars are taken Just now
at the west. the Philadelphia market is
more steady. Steel bars rose 81 per
ton at Pittsburg, and the heavy demand
for sheets makes prices very Irregular.
with many orders refused.
The Connellsville coke product, 119 163
tons for the week. suTIasses all records
and prices are steady as before quoted.
Lake copper is strong at $3.50 and
scorce. and tin went up with London
declining only to % per cent
In spite of some strikes because wages
were not raised as much as hands eX-
pected, the cotton industry has very
good demand, and most Of the mills are
working satisfactorily. \ southern COM
bination of fine goods makers is pro-
posed. like that of Fail River mills.
which has kept prices quite steady Of
late
Wooden mills have begun TO buy wool
more largely. though at prices much of
their own making. hut there Is improV-
ing demand for goods. With lightweight
purchases continuing surprising for the
season. Sales of wool a the three mar
llets have been 16. 1872, 600 pounds in two
weeks, against :, 1888, coo pounds last year
Wheat advanced about Il of a cent,
accounts of injury discovered since
April l supplementing the government
report. Were the worst Of these stories
true. there is yet spring wheat seeding
to make up for deficiencies, though the
season is getting rather late. Exports
have been reduced, Atlantic -four in
Guided. amounting TO 1850, $50 bushels
for two weeks. against 5.2S5,19 last
year. and Pacific 70 56i562 bushels.
against 1888. $40 bushels last year, with
other exports SO6.577 bushels.
Failures for the week have been 1888
in the Unite1 States, against "a last
year, and - in Canada, against is last
year