The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-04-01
Formation of Trusts Upsets the
Country's Business.
PERIOD OF TRANSITION
HUNDREDS OF INDUSTRIES Abb
soRBED BY TRUSTS.
Changes In Ownership, Management
and System - Business Failures
For the First Quarter Show a De-
crease-Wool Market Is Still Dis
appointing-Railway Earnings.

New York, March 31-R G. Dun &
Co. in their weekly review of trade,
will say:
Failures during the first quarter of
1899 have been in amount of Liabilities
not more than about SIG, 6S0.3S0, against
$31, 71G,142 last year, $4S,001,91O in 1897
and So, 525, 125 in 1886 While the later
returns may increase the amount for
the quarter a little, the complete re-
turns. which will be given next week,
will be very remarkable in comparison
with those of any previous year. Bust
ness is not at present improving. There
has been something like a check, partly
the result of heavy buying since Jan
j, TO anticipate the market, partly
caused by the uncertainty about the
operation OF many combinations, and a
shade of doubt about foreign affairs
also had some influence. The new rule
of the clearing house banks at New
York about taxation of country checks
also caused some shifting OF accounts.
A period of transition from one
ownership to another and from one
management to another and from one
industrial system to another, where it
affects many hundred establishments
throughout the country, inevitably
caused some hesitation in business. A
little later the many hundred concerns
may be doing more business than ever,
as they were just before combinations
were effected. But at the point of
transition nobody knows just what TO
expect.
There is much withdrawal of iron
business because continuance of high
prices is doubted and because works
affected by many other combinations
proposed are not inclined to buy more
largely. Prices are strongly MAIN
tanned at S15.15 for Bessemer pig al
Pittsburg, the valley association hav-
ing sold 130,00O tons for delivery in the
last half of the year at $14.50, and grey
forge is stronger at S14-40, but hesita-
lion appears at Philadelphia about
is inactive compared with recent
weeks. With no soles reported except
10000 tons at Chisago. rails are quoted
81 higher there, and as much at Pitts
burg, and the sale of 5o000 tons steel
bilzlets to the tin plate company sets
prices for. 100 pounds plate at $4.05
after July !. Structural demand in
creases, but bar mills at the west and
south are consolidating and are not
disposed to take large contracts, al
though the Pittsburg mills are asking
S1.50 because behind their orders. Fol-
the plates the demand far exceeds the
supply at Philadelphia and Chicag sc
and the leading mills at Pittsburg al
fun until August or later. In hoops
cotton ties, tubes and other products
expected consolidation affects business
Minor metals are stronger, with tin
at "A cents, on consuming demand, and
for copper at $3.50 cents, owing tC
London speculation.
More evidence appears that the wool
en- manufacture is not helped as yet
by new combinations or the prospect
OF them, and the buying demand has
been disappointing in many ways
though in dress goods active. Sales OF
wool were 20,S01, 200 pounds at three
chief markets in four weeks, against
S,S77,S00 pounds last year, when prices
were held at the top 55,SS6.200 in 1897
when prices We're being rushed upward
and 30,952,576 pounds in 1892, wher
manufacture was normal, indicating Z
fair, but not extraordinary demand fol
goods. Prices are said to be quiet fol
Ohio Xxx at 26 cents.
The boot and shoe business is again
halting because of difference between
buyers and sellers as to prices
The fluctuations of the wheat mar
ket have been large and tend on the
whole toward higher quotations. Elk
ports at Atlantic ports. flour included
have been for four weeks IL 679. 81.
bushels. against $685., 495 last year; and
Pacific, 1855, 6S7 bushels, against 2,S74.-
112; and the other exports, not giver
last year. make the total 1877, 0s!
bushels. Western receipts have beer
12,949.S15 bushels, against 9,9e6,S7S las
year.
Railroad earnings for three weeks o.
March have been Al per cent larger
than last year, and 9.S pep cent larger
than in 1892, and the east-bound ton.
mage from Chicago in four weeks ha:
been 1874 tons, against 622, 9O1 las
year and 1856, 1865 in 1892, which indicate!
quite clearly the remarkable depression
in rates a year ago.
Failures for the week have been IA!
in the United States against 220 las
year, and &c in Canada against 81 las
year.