The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-02-18
Artificial Stimulus Due to COmbina-
ti0ns and Trusts.
IMPROVEMENT IN WOOL
BUT MANUFACTURERS CANNOT
PAY PRESENT PRICES.
All the Sales Made Have Been At
Concessions-Proposed Trusts In
the Iron Industry Have Caused
Increased Sales of Products to Be
Controlled-WaIl Street Bureau.

New York, Feb. G. Dun &
Co.'S Weekly Il of Trade
will say tomorrow: 49,. ond question
business is expanding and, in many
branches, it is larger, Notwithstanding
speculative combinations, which teno
to reduce it. All monopolies or al
/ tempted monopolies stimulate business
while they are coming, but tend L
stifie it after they come, and the throhs
| of combina tionS and trusts which nave
! been formed or proposed, have given a
| temporary, but very questionable, I'M
petus to trade. But beyond the inf1u-
| ence of these there is genuine and
! substantial enlargement of business,
due to the unexampIed prosperity OF a
| growing population.
| The weeks output of pig iron Feb !
was 237, 639 tons, against 243,5l6 Jan. l,
and 23552S Dee. 1. The average weekly
production thus indicated was about
1000 tons greater in January than IN
December, and the old stocks were re
duced 1851 tons in January, against
81, 449 in December, so that the appar-
ent consumption in manufacture was,
in January, 1,110,0I9 tons, against l,O9S,-
176 in December. The stoppage of sew
erai furnaces for necessary repairs at
time when the demand is most pressing
has caused some fear OF famine, al
though quite a. number of furnaces
have started since Feb. l, or are about
to start Pig iron has advanced, but
the largest consumption ever recorded
in any month is in pat due TO the hasty
purchases of products about to be con-
trolled or advanced in price by u com
bination. There are so many or these
in the iron and steel industry that the
present market does not clearly lnul-
cate the magnitude of demand, ana as
appointment in some branches Is not
improbable But the rise of 81 in steel
rails, with the entire capacity OF all
works engaged until after July l, is not
unnatural, nor the strength in plates,
the demand for which is beyond all
precedent, and the same is true OF bars,
the quantity required for cans, railway
and agricultural works being enormous,
In pipe, the association lifted prices
per cent, with a very heavy order from
Indiana gas works
No fictitious demand has caused the
rise in grain, for the exports continue
so heavy in wheat and corn that the
advance of 81 cents in wheat is abund-
antly justified, and the rise OF &c IN
corn seems scarcely enough Tor the oc-
casion. Atlantic exports have been re-
tarded by the blizzard, but have been
2,265, SIS bushels, -four included, against
S,142, 057 last year, and for the crop year
thus far, the exports, including flour,
have been 15e. 7S7, 740 bushels, against
143, IA, 142 last year.
When it is remembered that the eX-
ports of corn are almost as large as the
largest ever known. mere is reason for
establishment at the continued foreign
demand That it persisted in spite of
the strong advance in prices here since
Sept l, is most encouraging. 1t IS Cd
viously impossible to judge how far 1t
may so.
There is much inquiry for wool, and
the manufacturers have a larger de-
mand for heavyweight goods, but they
maintain that they cannot pay prices
now demanded, and most of the pur-
chases made appear to have been at
some concessions. Sales at the three
chief markets were 6.160,200 pounds,
which is about the weekly consumption
with eastern mills well employed, but
they were partly on speculative ac-
count, and in fine and medium terrific
~, sales are mentioned at 40 cents,
cleaned. and in Ohio Xxx, at 26 cents
and upwards.
The minor metals have been running
weaker, with a reaction in London. al
though the industries have shown no |
abatement of demand in this country, |
and the rise in prices here IS largely due |
to increased consumption.
Failures for the week have been IT'S /
in the United States, against 295 last |
year and eighteen in Canada, against !
rhirtV-fiVe last wear.