The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-09-23
PRICES STILL RISING
Unprecedented Demands For Pro.
ducts Continue to Increase.
WEEKLY TRADE REVIEW
ADVANCE IN WAGES AND EN-
PLoYMENT OF LABOR.
Has Been Greater Than the Increase
In Any Glass of Products Directly
Consumed By Observation-Disclosures
of Wool Have Been Firm-On
New York Stock Exchange.

New York, Sept. Pr. G. Dun &
Co.'S Weekly Review of Trade will say
tomorrow: The reaction in the stock
market is not sign of anything out
side that market, but mas set many to
look for signs of a, reaction elsewhere.
Such signs have been hard to find. 1t
has been for months wonder that the
demand for products was sustained at
rates exceeding past consumption In
any year, notwithstanding the general
rise in prices. But the demand does not
appear to abate, and the rise in prices
continues. A partial explanation is that
scarcely any class of products directly
consumed by individuals has advanced
as much as the wages and employ ment
of labor. With more hands at work,
more hours, and with 10 to Is per cent
higher wages, the gain in purchasing
power has been quite beyond the rise
of 4 per cent in boots and shoes this
year, or 8 per cent in leather, with 81
per cent in wooden goods or 1913 per
cent in wool, and even beyond the rise
of IL per cent in cotton goods, mainly
due to the rise of Is per cent in cotton.
But products used in manufacturing
and transporting have advanced much
more, because OF the enormous increase
in volume of business done and in an
ticipation of business for the future.
Higher prices cause shrinking demand,
other things being equal, but this year
other things are not equal.
Wheat exports fall a little below last
years, but in three weeks, flour in
cluded, have been S,S6o,S17 bushels from
Atlantic ports, against 9,293, 1851 bushels
last year, and ], O21, O9S bushels from Pa
cific ports, against 907, 961 bushels last
year. But western receipts have been
u, 759S52 bushels, against 2S,099, 1897
bushels last year, and even more I'M
pressive are the receipts of 1915, 1872
bushels of corn, against 1l,1l1, 4S3
bushels last year, and the exports OF
9,201, AIT bushels, against 5,943,966 last
year. Prices moved little either way
until Friday, when q sharp advance
made the weeks gain Ac.
Further government reports have
been so far credited abroad that cotton
has risen to 662 cents, but it comes for
ward more freely than in years of max
imum crops.
When men pay So to IS per ton more
than the latest. quoted price for iron
products in order to get early deliver
les, it is because delay is threatened
on works or railroads or bridges, YES
sels or machinery, promising a net
profit many times the cost of a small
fraction of the material. In such cir
cumstances as in much of the recon
struction and expansion now going on
present cost counts for little, compared
with the earning power of the finished
product in a time like this. Bessemer
and anthracite pig are unchanged, gray
forge at Pittsburg and Chicago and
southern iron are higher, bars 81 per
ton higher and plate SO per ton, and
rails 81 per ton. Most of the business is
for next year, with premiums paid for
more speedy delivery.
Negotiations for consolidation of Fall
River cotton mills have developed a
contest between those favoTing local or
non-local management, With a new sell
ing arrangement announced for other
plain goods as we'll as for print cloths.
Prices of prints have beeen cut Il cent
for indigo blues, but otherwise the de-
mand is strong.
The American Wooden company has
announced that the whole production of
all its worsted mills has, BEEN sold,
which may give unexpected opportunity
for other mills. Its contracts for a great
quantity of machinery indicate a be-
lief that within its field the demand for
goods will much exceed the capacity of
its works. Prices have been firm, with
wool stronger since the general advance
at London. Sales at the three chief
markets were Is, 500 pounds.
Failures for the week have been 154
in the United States, against 173 last
year, and in Canada eighteen, against
sixteen last year.