The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-04-28

New York, April Pr. G. Dun &
Co.'S weakly review of trade toner
row will say: Gold begins to go abroad
and prices Of iron products break
sharply in the same week. -Four months
OF the new year have passed and busi-
ness does not so expand as TO meet
me large Increase of circulation which
the new monetary bill had permitted
nor enough TO sustain all the extraOr-
Glhary advance in prices last year.
Inc abundance Of gold and of currency
and the large disbursements by The
treasury in exchange of bonds have
feII1ered rates for money unusually
low FOR the season here. while rare in
QuSurla1 and speculative activity In
Europe, with the war in South Africa
nave tended to make money dearer
SO new gold from Alaska answers tho
loss OF supply from the Transvaal and
America is building up in credits
aDread breaStwork against prostTa
; JlOn IN future here as in the n9eg-
caused by the troubles in Europe.
The reaction in prices came where
II was expected least, in the industry
more fully organized than any other
90 check competition and in the branch
"hlch through contracts covering rod.
making and other machinery and
through patents, seemed more fully
coLtrOiIed than any other. Reduction
OF $40 per ton in wire nails. barbed
WIRE and galvanized fence and SIS in
smooth Wire showed that no control
can afford to hold prices so high as to
check consumption.
In a week the prices of iron prod
ucts have declined $50 per cent and
since Feb. Z. 1913 per cent. AS the
Wlre and nail prices have been rela-
lively the highest, others in the iron
and steel Industry can be expected TO
IaI IN like measure. But pig iron is
weaker No / local coke at Chicago
Is $3.50 and southern pig is also low
er. Plates and bars can be obtained
Ior ABOUT Is cents in good contracts
ooln at the east and at PittSburg, the
proposed advance in sheets to 3.6 cents
| mas not been attempted and nail mills
which have gained much by selling AT
cents per key below wire nails. viii
now lower prices also. The stoppage
OF dozen wire and nail mills. besides
roo mills at Joliet and another Of the
National Steel company, indicate soma
change in the actual demand. In the
minor metals the only change has
been in tin, which declined rather
Sharply to S29.75 in sympathy with
lower London quotations. The ten
oency toward lower prices is strength
eneu by the idea that oVer-production
may appear in other branches.
Wool has not changed in quotations.
though some sales Of fair amount are
reported at such prices as 81 cents for
ONO AK and 50 cents for clothing ter
r1tOry cleaned. but manufacturers are
not disposed to do anything and the.
west asks prices which dealers have
no reason for paying. The demand for
Woolen goods is small and disappoint-
ing and except in staples, which are
steady because we'll sold up, prices are
not encouraging.
Shipments of boots and shoes from
the east in four weeks have been 306. =
S25 cases, against 339 49S cases last
year, 5O4O61 cases in 1893 and less in
any other year. New business bears
no proportion TO the present output
and the number Of works which are
closed or running part time is in
creasing-
Manufacturers realize that this is a.
result OF prices asked and of slow re-
tail distribution and long stocks re-
naming on hand, but claim that lower
prices cannot be made without loss.
Business in sole leather is reported fair
and prices do not yield, but upper
leather is dull
The produce market is inactive
though wheat yielded a fraction. Ex-
ports continue larger than a year ago,
Atlantic. exports Of wheat in four
weeks, -four included, having been s.
O9S,56I bushels, against S,017, 4S5 bush
els last year and Pacific exports 3. Rs
lS6, against 1,373,S22 last year.
Failures for the week have been .2O4
in the United States. against 1874 last
year. and twenty-five in Canada.
agaidt twenty-three last year.