The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-01-11
SLOW RECOVERY
VERY APPARENT
Business Quiet the Country
Over According to Mercan-
tile Agency Reports.
LESS RAILROAD EARNINGS
INDUSTRIES AS A WHOLE ON
SHORT TIME.

New York, Jan. 10.-R. G. Dun &
Co.'S Weekly Review of Trade tomor-
row will say:
Sentiment has improved in response
to the brighter outlook, commercial
loans being made with more freedom
than any recent date. AS much pro-
jected business was only held back by
Inability to raise funds, the easier
money market encourages expec1a-
lions that postponed contracts viii now
be placed. The percentage of idle ma
cEinery. has perceptibly declined. Iron
and steel production had fallen very
low before the revival occurred, output
of pig iron at the beginning of this
month being smaller than at any time
in four years. This curtailment of out
put has maintained prices fairly
steady, the average now being higher
than on July l, 1906 Several contracts
for structural steel are under negOtia-
lions, but most mills are idle pending
the accumulation Of more business.
Thus far the lower quota lions for gal
vaniZed sheets and tin plate have not
stimulated purchases. Numerous rail-
ways are negotiating for delivery of
rails for the year 1908. and this bust
ness should be placed very soon.
Some transactions in packer branded
hides have been made at slightly high
er prices than prevailed last week, with
no improvement in natives. which now
comprise most of the receipts Foreign
hides are distinctly stronger.
Bradstreet's Report.
Bradstreets tomorrow will say:
Financial affairs show further and
marked improvement. and money is
more plentiful and easier to Obtain, but
the gain in trade and industry proper
Is still largely one Of sentiment, be-
cause business is quiet the country
over, railway earnings and bank clear
ir gs are below a year ago, collections
are slow. though better than a month
ago, and industry is, as a whole, on
short time. with the larger centers re-
porting a great number of unemployed.
In trade lines the gel eral report is
one of backward business. Mild wea-
Their is still a bar to the widest activi-
ties in seaSOnabie goods north and
west, and retailers are stimulating
tagging demand by reduction sales, and
southern trade shows more life than a
week ago. Some lires report after
holiday collections as better than those
of December. and in 81 me cases better
than anticipated, but they, in few
CdScSs dIe D-llCI. IMAM SLOW 10 TAR.
Evidences Of the sharp curtailment,
almost stagnation that struck industry
in the last quarter of 1907 are coming
TO light. For one thing, prices Of COM
modities Rave scored the third sue
cessive monthly drop, and the level is
row below a year ago. Iron prOduc-
ton fell perpendicularly in the last
quarter and the rate of production was
cut in two in two months Since the
first of the year some assumptions
have occurred, but finished products
are only half that ruling before the
panic.
Business failures in the United States
for the week ending Jan. number 434
against 345 last week. 2S3 in the like
week of 1907. 26S in 1906 295 in 1905 and
S15 in 1904.
Failures in Canada this week num-
bered So, as against p last week, and
"a in this week year ago.
Wheat. including flour exports, from
the United States and Canada for the
week ending Jan. 8, aggregated $500
273 bushels, against 3, 119 1874 last week;
4.073. 10 this week last year, and 1851
40 in 1902. For the twenty-eight weeks
of the fiscal year the exports are 215,-
S99, 941 bushels, against 101, 996, ZOO in
1867, ard 1852, $50, 4S5 bushels in 1901-2
Corn exports for the week the LII,
S74 bushels, against 74l,6 91 last week
and II. 1877 in 1907.
For the fiscal year to date the ex-
ports are 26,059. 243 bushels, against q,
10, 275 in 1867.