The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-05-12
Country Recovering From Eff
tectS OF High Prices.
MOVEMENT IS HEALTHY
GREAT MANUFACTURING ASSo-
CITATIONS ARE TAKING LEAD.
Reduction in the Price of Lead and
Coppsr-Wool Yields a Little in
the Finer Manufacturers
Have Trouble in Finding Market
at Advancing Figures.

New York, May 11.-R. G. Dun &.
Co.'S weekly review Of trade will say:
With wholesome promptness the eoun-
try is recovering from the embarrass-
ment of naturally high prices. In some
lines the great manufacturing associa-
tons have taken the lead; in others re-
duction is still deferred because the en-
tire productive capacity is engaged at
high prices for some months to come
IN others 1T comes in spite Of resistance,
because buyers hold back for orders
Tor their own protection until material
concessions are made No disturbance
nor stringency of credits resulted, nor
any sign of alarm, and the movement
is, perhaps, more healthy than it could
have been if entirely controlled by the
competition of many small concerns.
The proportion Of works and of hands
unemployed is yet quite small and the
volume of business transacted, though
less than last year in New England
and in the middle state cities, is larger
than ever before at fifty-four out of
siXty-three clearing houses in the en-
tire region west of Pennsylvania and
south of the Potomac.
Production, stimulated by high prices,
them. The weekly output of pig iron
May l was 293,S50 tons, against 2S9, 482
April 1, while unsold stocks not held
by the great steel-makers increased
a, 645 tons. This would indicate a daily
consumption of 1854 tons, against
1882 in January. hitherto the largest,
but for the fact that considerable
stocks have also accumulated in the
hands Of consuming, concerns, of which
enough to use much more than 1000
tons daily are now idle. Bessemer pig
at Philadelphia and Lehigh Valley No.
here are quoted at S22 per ton, and
market wire has been reduced in cor
TesDCndence with barbed and plain.
Considerable increase of business is
reported. resulting from recent reduc-
lions. but demands for higher wages
and also for closing of some iron works
two months in the year, whether there
is business or not, causes some hesita-
ton regarding further contracts.
The Smelling & Refining company
has reduced lead SO per ton to AZ
cents, and copper declined Is, to 1880
for lake. while tin is also lower, at 20
cents.
Wool yields a little more, chiefly in
the finer grades. A decrease of nearly
10 per cent at the London sales is one
cause, but a more potent one is the
continued abstenJiOn Of manufacturers
who do not find the market for goods
at the advanced prices named this
year at Falls City, except for a few
staples. Cancellations cause some
trouble, and slow payments some, and
prices of many grades are irregular.
Cotton goods are also circular and
in unsatisfactory demand; the prices
average only 10 per cent higher than
they were Nov. 1. while cotton has
risen 1873 per cent, from rs TO 9S, and
is supported by foreign buying. Silk,
on the other hand, has fallen sharply
Csc TO SOC for the different grades, and
from the highest point in January, 65c
on Italian, $1.10 on Japanese, 75c on
Shanghai and $1.05 on Canton, imports
from China having greatly increased.
The opening of Philadelphia ports has
also reduced the price of hemp from
15c last November to lie.
Shipments Of boots and shoes from
the east for the first week of May were
smaller than in the corresponding week
of every year save one since 1894. Ac-
counts indicate that dealers stocks
throughout the country are unusually
large, and many shops are closed, while
many more have but little work ahead.
Prices asked are practically as hiSh
as they were Jan. 1, though leather
averages 4 per cent lower, and hides
about 10 per cent lower.
In spite of good exports, wheat pros
poets suffice to cause a decline of rs,
while corn has declined rs. Corn ex-
ports still run much beyond last years,
in two weeks $3.50, 500 bushels, against
400, 666 last year, and Atlantic ex-