The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-01-01
ON HIGH TIDE
OF GOOD TIMES
Dun's Review Says the Farmers
Were Never So Prosperous.
PRODUCE HAS AIDED THEM
AGRICULTURIsTS BECOMING
WEALTHY RAPIDLY.
PRODUCE HAS AIDED THEM


nal evidences Of advancement in 5usl-
ness during the year was the progress
made in manufacturing. 1t is impos-
sibIe to be too e-ctravagant in delineat-
ing the movements Of the industrial
world.
Never in the history Of this or any
other nation has such development oc-
CIved within the space OF a twelve
month The expansion of productive
capacity was enormous: the improved
methods OF work and organization
were conspicuous. wise economies were
introduced, but more than all other
factors that made for permanent pros
perity was the conservative resistance
70 price imitation.
Iron and steel.-After the reaction of
1900 the level of prices remained de-
pressed for some months, but generally
responded to tine inc easing demand as
excessive accommodations were absorbed.
From a condition of glut there arose
almost a famine, greatly exaggerated
by the stubborn strike. SVme idea of
the changes in size Of supp lies may be
found in the comparison Of furnace
stocks of pig iron, as published in the
Iron Age, which amounted to 54S 663
tons on Jan. /.
General Gain in Production.
These figures steadily declined
throughout the year. until only 223, 462
tons were held on Dee. I. Aside from
the slight fall during the period af-
fected by the strike there appears al
most q steady gain in production, clos
ing with the maximum quantity on rec
ord.
While the output on Dec. was at the
unparalleled rate of 10,SS7,512 tons
yearly it is obvious that the actual
production for the year was much
smaller, although quite sufficient to es-
tablish a new record, and judging by
the amount Of business already placed
for 1862, the current years yield may
not UnreasOnably be expected to sur
pass 100000 tons.
The output of rails was beyond all
records yet, and contracts for 1902 al
ready indicate another high-water
mark of probably 100000 tons.
Minor Netals.-Readjustm of
quotations was secured during Deem
Der. after a year Of unreasonable in
flate1 prices. Copper was stubbornly
held at lie most Of the time, but when
the reaction began here was a fall of
4 cents within few days.
Records Are Surpassed.
Tin was advanced to 2Sst in June, but
fen to p cents in Decen,be Similarly
with lead, the nominal price of 49s was
cat to cents. Tin plates closed the
year where they opened, but in the in
term there was an advance of 81 on
account of the famine that followed
the strike.
Coal and Coke.-AH records of out
put for hard and soft coal were sur
passed during 1871, despite the scarcity
of cars that retarded operations. A
feature Of great advantage was the ex-
banding export movement, which
reached more encouraging proportions
thar in earlier years. In ten months
the value Of shipments was S19, 0S7 $685.
against $17, $50 864 the year previous.
Coke ovens made a phenomenal record,
establishing 4 new high-water mark Of
weekly output at 244,529 tons late in
November
Leather COnditiOns.-An entire year
OF activity and an era of high prices
characterized the leather market. but
there mas been no boom such as ex-
listed during 1895 and resulted in one of
she most disastrous slumps ever known
IN leather history. The rise in values
was steady and by easy stages and en-
tirely legitimate, inasmuch as it was
based on the laws of supply and de-
mand.
Vacillations Of Wool.
Market for WOol-Further declines
occurred in the price of this staple
during the opening months of 1901, and
the bottom was not reached until July
/, when 100 grades, according to Coates
& Brothers circular, was quoted at
170e cents.
rlsrr I'll - o 4
from the A. yh point of PAS, in Deem
Der. 1889. With the absorption of sur
plus stocks and general revival in the
industry the turning point was
reached in September. Further
strength and activity was in evidence
each aucceeding month.
The Produce Market.
The Produce Market.-While 1906
WAS the best year ever experienced
by domestic agricultural interests. the
opening year of the new century was
in many ways more profitable and the
two together have put the farming pop
ulaion IN much the most satisfactory
position in the nations history
Formerly the season Of harvesting
and crop moving brought heavy Dor
roNing Of funds at the east but in
terror conditions have changed 10 such
an extent that western banks are lend
ers Of New York and Chicago. While
there is still a large movement OF
money away from the east during the
ian months. it is of funds that were
held here for the account OF interior
correspondents.
Tendency to Increase Acreage.
There is a steady tendency 60 in
crease the acreage in the leading crops
yet supplies do not increase. owing
to the better demand both for home
consumption and export Heat ant
drouth caused q serious curJailment oil
the corn crop which proved the mOst
important event Of the year.
While this influence naturally in
duced an advance in prices that prac-
tic2lly prohibited exports and thus Sc
riously affected foreign commerce, il
VIII be by no means an unmixed evil
since the return 20 growers was ever
larger than liz a year of normal pro
ductiOn. while the enormous yield OF
wheat was absorbed by stock feeding
and foreign consumers in place O
corn. Hence. instead Of a low price
for wheat III proportion TO the heavy
crop, there vas maintained an ever
higher average quotation than in th'
short crop year preceding.
Meats naturally reflected the eXpeR
,ive position of fodder ana il WA
gratifying TO notice that exports Weri
not materially reduced by the higl
level Cotton passed a season Of Wild
variation. IN the early months attain
ing the highest price of the decide. bu
falling back sharply as the spinning
situation was rendered unfavOrable b,
eXoroitant raw material.
Estimates Were Postponed.
Crop estimates were also far apart