| Show FINANCE AND MINING Leading Merchants on the State of Trade THE HOLIDAY BOOM BOOMING Lead Declines Five Gouts Silver Advances Ad-vances a Fraction Oro and Bullion Bul-lion Output Cattle The holiday trade is upon us and the merchants generally are doing the business usual at this time of tho year A number of our leading merchants were seen yesterday with the result noted below Superintendent Webber of Z C M I says that the business of this season compares very favorably with that of 1887 In November the institution did a business of about 218000 and this amount did not vary 5300 from the I business of November 1887 He thought that the purchasing power of the pepple hr i been curtailed by different differ-ent influences such as the partial failure of the fruit crops and the closing clos-ing down of the smelters in this county But still there was no cause to complain business had held its own if it had not increased Mr Webber I said the prospect for a heavy holiday trade was very good and the wholesale whole-sale toy department of Z C M I was being drawn upon heavily Collections are fair F H Auerbach was next found He I said there had been a heavyincrease I over the business of former years in his house But he said this increase in-crease in business does not represent a corresponding increase in profits because be-cause these have been cut down by competition The competition is keener than it has ever been here and we ara inviting it ana preparing to meet it We are increasing our business to meet the demand and expect to go on enlarging en-larging and improving Mr Auerbach was satisfied that there would be a heavy holiday trade He had laid in a larger stock of goods than ever before for the holidays and he had no fears of being disappointed in his anticipations Collections could be better but still there was not much cause for complaint com-plaint on this scoreR score-R K Thomas of the Eagle Emporium Em-porium was found in his store He said that usiness with him was about the same i last year He had really enjoyed mare trade but prices had dan creased so that the volume of business was really no greater Mr Thomas does a cash business and so could say nothing about collections John Cnnnington who was one of the very first merchants to establish himself in this city was found at his desk in his office Mr Cunningtons hardware and wholesale grocery trade give him an opportunity to observe to a great extent the progress in the mining camps and other outside districts Trade is in a splendid condition this season and this to me is a sign of no end of prosperity is the substance of his greeting to the reporter He thought the holiday trade this year would surpass sur-pass that of any previous year and next year will beat them all Mr Cunmngton forsees a magnificent future for trade in bait Lake and he thinks that the year 1889 will reveal much of what is to come Goldsmith Co report an immense increase in trade this year over any previous pre-vious year Business is lively and the outlook bright Collections are a little dull Spencer Clawson reports bminrsi a little better than last year and things are generally in a prosperous condition condi-tion Collections are fair Herbert Pembroke reports the toy and Christmas novelty trade about the same so far as during the same period last year bathe looks for a heavier rush between now and Christmas John Clark of Clark Eldredge Co says ho sees no change in the condition of trade since December of last year Business and collections are equally as good as they were last season though not any better J J Duke manager of Walker Brothers Company reports trade considerably con-siderably heavier than last year The recent mild weather has retarded the sale of heavy goods but trade in other branches is lively Fred Simon is doing quite as good a business this year as he did last He says collections are fair and generally speaking he has no cause to complain Mr Simon looks for an unusually bright opening next spring and he thinks the next few years will surprise the natives Mr John D Spencer of Spencer Kimball reports business much livelier this season than in previous years Collections Col-lections are good and trade is in a very satisfactory condition The prospects of another sugar famine fam-ine mentioned in this column a week ago have vanished the market being well supplied with a downward tendency ten-dency Silver is weak although slightly in advance of the figures of a week ago It is now quoted at 93 Copper has ruled fairly steady at previous pre-vious prices but notwithstanding the fire in the Calumet mine the drift has 1 been downward The syndicate has succeeded in selling over 20000000 pounds to domestic consumer running run-ning over four months and notwithstanding notwith-standing their strenuous efforts were unable to obtain more than 16 50 This will create a long quiet spell in copper An English journal Money has tabulated the obligation of the syndicate syn-dicate and it certainly shows that they have a serious responsibility on their shoulders The weak spot in their position po-sition is the fact that they do not control con-trol any of the Chili product and also that they are not in a position to command com-mand any curtailment in production it is said that the Calumet and Hecla I can draw from the Hecla shaft enough ore to fill their contracts easily The Rio Tinto Company has closed a twelve years contract with the syndicate who are to act however only as commission meichants The shares of the new ParisLondon Copper Bank are to be offered for sale in a few weeks Money is plenty in the east and the treasury reports show that the currency in circulation though 1700000 less than on November 1 was about 37 300000 larger December 1 than a year Ego But auring the week the treasury has taken in 53100000 more than it has paid out Exports of gold continue without causing apprehensions as the movementis not likely to be large and as considerable of the precious can be spared In the northwest collections are good says Bradstrcets but some un easiuess is felt in portions of the southwest south-west where they are reported slow and failures in Memphis are numerous Imports of merchandize continue to fall behind those of the year and experts ex-perts have been retarded by the high charges for ocean freights as well as tne speculative manipulation of prices Railroad stocks have been depressed Want of confidence prevails among traders and foreign holders are gradually gradu-ally disposing of their American railway rail-way shares but good railway bonds continuu in active demand Our latest advices from Chicago by mail are that Lle arrived in such large numbers in the middle of the week that there was not room enough in the pens usually devoted to cattle to hold them and the hog and sheep pens were to a large extent filled with cattle The usual numbers were purchased by local slaughterers and shippers but the supply for several days was greatly excessive ex-cessive over 20000 cattle being offered at one time Such l accumulations could not be worked off in one day and when cattle had to stand for hours in the chutes and alleys waiting to be yarded many salesmen were unable to sell promptly Altogether it was a good week for buyers and a bad one for sellers sell-ers prices undergoing an average decline de-cline of 40 and 50 cents per 100 pounds Three head of Christmas beeves changed hands at 7 and early in the week several lots of fat steers were sold between 5 and 550 but subsequently no sales occurrEd above 5 though really choice beeves are still quotable at about 510535 Dressed beef firms have been making most of their purchases below 120 and the better grades have been taken by shippers and exporters Cattle selling below 350 generally averaged less than 1200 pounds those weighing between 1200 and 1400 pounds fetching 350i while cattle going above 4 usually weighed over 1400 Stocker and feeders feed-ers sold chiefly between 2 and 3 and any quantity of canning and butchering cows went for 115290 Bulls sold mostly at 1402 25 and plenty of common calves sold at 2250 A few Colorado Wyoming and Montana range steers went for 2oU415 and Texans sold aL 125210 for cows and 2325 for steers Lead has been very quiet on all points and the total sales for the week did not exceed 1500 tons or about half the current output and consumption for normally the country makes nearly 14000 tons per month and uses it all up but duringthe last half of November No-vember future sales were enormous and the present lull is both legitimate and healthy Prices ran up to 380 at New York 360 at Chicago and 8355 St Louis but at the close a weaker tendency was developed and the price fell off1 per ton all the way around and the general opinion is that lower figures will rule during the next four weeks The 20000 ton surplus which the giant corner accumulated remains intact and unless miners see > the wisdom wis-dom of checking production materially this surplus will hang like a deadweight dead-weight on the market for many months to come The indications are very strong that producers will take this action London has settled gradually until the price for soft Spanish touched 1717s 6d and the outlook for any improvement im-provement on that point is very poor In Salt Lake lead is quoted at 370 a decline of cents during the week Placer mines which are yielding 100 to the pan are reported about 100 miss south of Blake City on the Colorado River Samples of clay from beds near the Thistle Companys quarries are on exposition ex-position at the office of Evans Spencer Spen-cer The beds are owned by Mr Evans and a test made of the article showed 50 percent iron 10 silica 10 alumini and 10 moisture The clay is very easily worked and when burned assumes a cherry color and the hardness of iron Experts say that with the addition of a little more sand which is found in large quantities close to the olay banks there is no reason why it could not be used for the manufacture of sewer pipes and other similar articles and that bricks can be produced from it superior in quality to any that are now imported > The local stock market continues quiet Latest advices from the east are to the effect that reports of the condition of business are unusually fine this week and not entirely encouraging With scarcely an exception they note a confident feeling as to the future but a combination of many causes indifferent in-different sections produces some slack J cuing for the present The cotton crop was late and has been considerably consider-ably injured and banks are carrying unusually large accounts but prices do not improve Much uneasiness is felt in portions of the south and collections col-lections are not above par while the number of failures in some southern districts is large The money markets are nowhere disturbed dis-turbed though the demand is large and rates at interior points firm In nearly all quarters the supply is ample for legitimate le-gitimate business but 7 and 8 per cent is paid at many western and southern centres Moderate expor s of gold cause no disturbances foreign exchange ex-change and sales for money at New York have been steady The clearings of banks in November were 45 per cent below last years but with allowance for speculative transactions the payments pay-ments of other origin appear to have been somewhat larger than last years Foreign trade is better sustained than would naturally be expected in view of the arrest of the breadstuffd movement and the popular decision adverse to a change of tariff policy Wool has again advanced the finer grades more than a cent since the middle mid-dle of November The average of 106 qualities according to the circular of Coates Brothers is 248 cents against 24 coots November 13th 23 cents October 15th 24 1 cents December 1st last year and 267 cents December 1st 1886 Thus the late considerable advance does not put prices as high on the whole as they were two or three years ago and yet with goods at present prices it is a question how largely manufacturers can afford to consume The belief that the clip and the stock on hand have been below estimates grows more prevalent prev-alent and perhaps the expectation of Congressional action regarding duties on worsteds imported may have some influence The business failures occurring throughout the country during the last seven days as reported to R G Dun Co number for the United States 263 and for Canada 42 or a total of 305 as compared with a total of 232 last week and 296 the week previous to the last For the corresponding week of last year the figures were 254 made up of 226 in the United States and 28 in Canada Ore and Bullion The ore and bullion receipts at the various banks in this city for the weekending week-ending Saturday December 15th were 7741756 as compared with 143 30269 for the week previous They were reported re-ported as follows ByMcCornick Co Hanauer Bullion f 18 425 CO Queen the Hllls 115300 IUver and lead ores 3315000 Crescent 1072500 Total 6345000 By Wells Fargo lea Base bullion 2127091 Ore 3901377 Fine bars 4631337 Total 10659S05 By T R Jones Co Silver and lead ores 230351 Total 230351 Total shipments for the week 76417 56 The ore and bullion output over both roads for the week ending yesterday was as follows POUNDS 13 cars bullion 317200 1 iron slag 49880 23 silver rind lead ores 8717oO 4 Copper ore 124000 46 cars 1392830 The Week At Mr Hanauers office the week was reported as being rather dull Park City Bingham Alta and Tintic were all heard from Besides the usual shipments ship-ments of Ontario Daly and Crescent the mines named below were also represented rep-resented Yuba Twc carloads came up from the Ynba One assayed 125 silver 25 lead and 4 gold the other 182 silver 25 lead and X gold Woodslde Two hundred and seventyfive tons of the usual grade came in from the Woodside Daly The usual monthly dividend has been declared It is payable on the 30tha sort of a New Yeard gift to the stockholders stock-holders South Galena One hundred tons of second class ore represented the South Galena Tho Yosemite sent in fifty tons going 45 lead and 15 silver Slakiyou One carload came in from Mackin toshs property It assayed 25 silver and 46 lead The Lead Mine Three hundred tons of wash ore and Concentrates went to the Hanauer smelter as usual BullionBeck The BullionBeck billed a 180ton lot The shipments the month of November 1 Novem-ber amounted to 1244450 pounds I Spy Consolidated One carload of 126 ounce ore which brought 100 came in from the Spy The MaxGeld Mr James property was represented during the week by a large shipment assaying 921ead and 67 silver It sold for about 60 Centennial lEureka The shipments during November 357800 pounds The Eureka Hill Shipments still continue in a lively L JI manner The output for November amounted to 2222600 pounds Queen of the Hills As will be seen from our table the Queen sent in one shipment during the week past |
