The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-05-07
MARKET
TRADE LIVELY
StagnatiOn Which Prevailed
During March and April En-
tirely Overcome.
LITTLE CHANGE IN
PRICES RECORDED
Professionals Optimistic as to
the Future: Recession in
Foreign Trade.
By Leased Wire to The Tribune.

oS Leased wire 10 nc TiDune
NEW YORK. May s.-One Of the
principal factors in conditions that have
given a decided optimistic tone To bust
ness during the past week has been the
activity on the stock exchange. which
has entirely overcome the stagnation
which prevailed during March and April.
Compared with the dullness which pre-
ceded ii, the animation of the market
what had been predicted by market
seers, yet prices have been little altered
on the whole and the transactions from
day to day have been much OF a .profes-
tistica record of the country, as pub
lished this week, contained an item that
was novel and of no little significance
This was the compilation of commercial
OF small defaults for any April for many
years. including April. 1905, when they
reached their maximum after lons In
terval. So far as foreign trade goes the
weekly port figures indicate a material
recession a recession which Will perhaps
be notable in the export movement.
Farm Products High.
The high prices of farm products have
brought a period of prosperity In sight
for the railroads, as may be noted from
the placing OF orders of rail- and equip
ment. The Carnegie Steel company re-
ports rail orders for five hundred tons Tor
the Western Pennsylvania Railways com
peny. The Florida East Coast order for
14.0oO tons will be filled by the Pennsyl-
vania Steel company. An order by the
Seaboard Air line for 1900 tons is di,
vided between the Tennessee Coal and
Iron company and the Pennsylvania Steel
company. Rail orders over the past week
approximate about 100000 tons,
The Seaboard Air line has ordered ten
American Locomotive company and ten
consolidated and FIVE heavy switching en-
gines from the Baldwin Locomotive
works. The United States Steel corpor-
Il III at fN,r-
naces lately and is operating about IS
per cent OF capacity
Finished production is on basis, OF
something ike Sc per cent of capacity.
This would seem to indicate $4,000 tons
a day. which is at the rate OF about s.
500, 900 tons a year. In 1902 the steel
corporation produced s.200.000 tons OF
steel, so that operations today are only
slightly in excess OF what they were ten
years ago
Wall Streets Policy.
Notwithstanding the fact that money
was apparently the dominating influence
In promoting whatever Improvement took
place In the stock market during the
some quarters that Wall street is start
Ing in 10 discount trade betterment In
the not distant future. The argument
used in favor OF this theory is that on
many years past improvement has come
when business was at q low eob. That
this is the condition at present Is shown
by the weeks developments. Bank
clearings, always a good barometer OF the
countrys trade, show a decrease for
April Of nearly II per cent, and every
state reported loss with the exception
OF the south Atlantic section. which
gained 10 per cent,
Optimism overreaches itself in descant-
Ing on the growing crop outlook in the
spring. but there is no crop prospect,
properly speaking, before August. Con-
ditions to date have been generally pro-
pitIous and unusually so and the proba-
bilties are that the agricultural out
turn of the year will be satisfactory In