Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-01-14
New York is Now Financing Euro
pean Enterprises,
LOMBARD STREET SAYS 50.
Wool IL sunny Held In the West 4
Decided Decrease IN Failure.
Tbi. Week.


weekly review Of trade will sny tomor-
rows Contrary to the French saying.
the expected has occurred. Rapid ad-
vance In prices Of iron and steel pro-
ducts has had its immediate eject aud /
perhaps not to the lasting benefit of the /
industry. for there ~ the same reason /
for doubt aH "a itH pcrmnncncy aH 10 I
1895. when shrinkagc ~ buyers and .c- I
action soon carried prices lower thah /
before. iiut there IL now largcr de-
mnnd for many other products and /.
without unwicldy combinations an arr
doing wen throughout. The country
was never ns strong financially, aa even
governors ~ London banks admit, one
stating that ns London has financed
America heretofore, now FOR the nrat
time New York h financing Europe.
no evidence 81 weakness ~ seen IN tho
other branches of Industry NOR In those
upon which the great excess Of exports
most depend.
Wheat and cotton still 20 out largely.
Europe IN buying because II has needs
und New York IL lending 10 Europe. No.
body knows how many millions, because
there Nv for the present no nccd to call
loans. The receipts ~ N2.hhpp gold
nom Australia II announced % San
| Francisco.
Americans are IN the humur 10 In
vest In their own country aud have
great amount 81 money 10 put out with
out recalling any OF their loans 10 Eu-
rope, 10 that the heaviest transactions
over known In tho stock exchange have
occurred during the week without the
/ evidence ~ reaction FOR which many
strong operators have been looking
In products also tho position OF the
country vrowa stronger. Last years eS.
ports " wheat and corn were far be-
/ yond all precedent hut the past week
/ has seen exports NJ f.lii.dse bushels uf
wheat. Hour Included. against 3,2ls,fiV
last year from Atlantic ports, and In
| two weeks 9bt2.i 100 against 6,o,o.'sA last
/ year. besides exports IN two weeks from
/ Pacific ports Of t.ssl0si bushels against
| 2 9t0 O1g last yonr. ~ IN quite impuHHi-
| bile 10 account FOR such movements on
the theory that at current prices TINS
country f. selling the world and has
/ great quantities yet to move at similar
/ prices. There was an advance " ~
cents In wheat during IN. week, but
cent In corn. without any indication
that supplies are running short ana
the Western rccclpta ~ wheat have
been In two weeks s.sip.sss bushels
against 6.sfa. go last year.
Neither h there evidence OF weakness
| In the great Industries. The output of
plg iron January ist was s1i,hie tons
| against gls. SIS December LIST. showing
! product Of about 100 tons weekly more
| than has been estimated with u further
decrease Of ai.tu tons In stocks unsuld
during December hut while the Aus
trnllnu order FOR % .O01 tons " rtill GA
| the market with another European ar
der for ii.000 tons plates the mills arr
20 crowded that prices ARE moving w
rapidly. iicsFcmcr pig iron ~ only 10
cents higher at PittHburE and Efny
forge n cents. but plates advanced 10
cents by the combination.
Minor metals are also stronger, TIN
having risen Ia sympathy with London
to p cents aud copper 10 1859 aud lead
tn cents. heavy consuming demand
helping In each ease. The new comhin-
alton In tin plates has advanced the
price to g. per box az the works There
have also been large demands for
structural work. 10000 In bridges and
buildings at Chicago.
Wool ~ siifiiy held az the West, al
though at Boston. Ohio Ky II quoted az
.Gk cents. although much higher az
Philadelphia. The Woolon Industry has
hcen hampcrod beyond an expectations
BY tho pricoH demanded for wool win
tile extraordinary stocks yet unHold.
Failures Tor tho week have been iiN In
the United States against $50 last year
aud twcnty-four In Canada against
forty-fve laht year