| Show V FINANCE MD MINING I = = = T < ts 8 p I Advance 1 I I1lB OILS MB 1nlfJLIO OUTPUT DDle 1iov ng lie yfeek Just PastA Past-A Quieterie Jn jp1 Circles Some SJiejv kYgntnres 1Ica vebeen sevoraltjCnis of inter S tin t1 to business worldufluring the week t clo > ed Praminqntamppg these was j 1 31etitg held at thechamber of com L4 on Friday evening s full account lne Mlch appeared in Saturdays issue t Anlcng the matters < sansjderedati the meeting Ii meet-ing w one that is of vital interest to this city and territorythat of creating a bureau 1 bu-reau of statistics for Utah As patters now stand nearly every official in tis city is qgnstantly in receipt letters from various var-ious portions of the country askingJor information in-formation on a variety of subjectsvand whilje every enterprising citizen feels it bis bounden duty to courteously answer jill suchflueries yet in a great many cases uo I satisfactory reply can be given owing to the fact that accurate figures have never been Collated A bureau of statistics t I such as the legislature will he asked to createis an absolute necessity and will remedy an evil that the times demand should bc eradicated We believe our solons BOW in session will sec the need of it and pass the law asked for just as soon as possibje after the matter has been broughtAc their attention The organization of the Western Mercantile Mer-cantile coaip an5 with a capital of 50000 and which 57111 open out for business in J the quarters now occupied by Spencer F Clawson 02 Main street is an institution that has been sprung upon the people during dur-ing the weefc The names of the stockholders stock-holders are jau absolute guarantee of its success But the most important venture named is that of the new bank with a capital of half a million iiich will occupy the Eagle Emporium the ull particulars of which will be found incur business column The fact that a lespe i has been taken for a number of years a d that 25000 will be spent on interior fiiijags and furnishings is an indication that he promoters mean business and have CCBJS to stay Tb9re is every indication that the business busi-ness transacted during r be present month will far exceed that of spy other January in the history of Salt Lake The steady even trade enjoyed is sijjrprise to many especially when we consider the fact that our latest ad vices from the cast are not of the most couraging nature The real estate sales show diminution and the building boom which tos been retarded re-tarded by the usually severe torms recommences re-commences as tbs weather moderates Lead and Silver In spite of the sound position of this article as exhibited in the recently published pub-lished statistics of stocks from which it was made clear that consumption had more than kept pace with production the New York market has exhibited rather a dull feeling and with little business doing In St Louis lead has been very quiet since our last report buyers are acting unusually timid The demand is only from hand to mouth Sellers appear a little anxious to trade but from all accounts are unwilling to make concessions In Chicago the lead market has ruled firm during the week with a fair demand noticeable In Salt Lake the metal opened on Mon day at 380 and closed at the same figure last evening Silver 9 7the highest point the metal pas reach ed since December 1SS7 Foreign I an k Statements The governors of lfce QIDfto J f England at their weekly meeting made no chanfcin its minimum rate for discount and it remains re-mains at 6 per cent During tho week the bank gained 363000 bullion and the proportion pro-portion of its reserve to its liabilities was raised from 2717 to 30W per cent against an increase from 29 JO to 3290 per cent in the same week of last year when its rate for discount was 4 per cent The bank on Thursday lost 50000 bullion on balance The weekly statement of the Bank of j Prance shows a decrease of 7125000 francs gold and a decrease of 4000000 francs kilver but Jilnefal De > elopment The enormous develojia ni of the mining min-ing and < IBetalUUVcal industries in the I United tltnt s is clearly shown in the statistics given in the following pages No such rapid growth was ever before or elsewhere else-where witnessed and it is all the more remarkable re-markable because it has taken place under many drawbacks of high freights high costs of supplies labor etc and yet these very disadvantages and difficulties which CltnM tn fhn tcziv of development rendered > improvement in old processes and appliances appli-ances necessary and stimulated invention in laborsaving devices until American Dractica in mining and metallurgy has come to lead the world and has made possible pos-sible the magnificent results here chronicled chroni-cled The rest of the world and more particularly par-ticularly the countries where these industries indus-tries ar3 in their infancy naturally turn to us for that experience knowledge and skill which is best adapted to secure also the developmnnt of their resourees Thus it is that in mining and metallurgy the whole world looks to American exports and mechanics for the newest and best practice and American engineers are now found in the management of great enterprises enter-prises in every part of the world while American manufacturers of mining and metallurgical machinery are extending their business with foreign countries so rapidly that some of them have found it necessary to open branch offices not only in England and France and other European countries but even in such distant lands as Chili Peru and Bolivia in Japan and in the Transvaal South Africa Mining and Einccting JournaL f New Locations In TIntlc The following mining claims have been recorded with C H Blanchard recorder since January 1 1890 Last Chance by Jackman and Roberts East Star lode by John Gundry West Star lode by John Gundry Elise No 2 by William Gundry Reverse No 2 by L E Riter December Rose lode by J L J and B 3L Bullock Trip Mine by Frank McHatton DSefnoCnn he TT T Wilkins Whittaker dcby George Whittaker and C Wilson Missouri Lass by C C Higgins Live Oak mining claim by Jackson Mc Chrystal Single Tax Mill site by David Sam and William Morris Standard mining claim by Noah and Jackson McChrystal Summit mining claim by J C Potter and George Johnson Goodman mining claim by J C Patten and George Johnson Ghtef = j Trade in the East An easier money market and colder weather have helped business some but it cannot be denied that the opening trade of the new year has thus far been a little dis i New Y k or this the m i buyers and sellers in every direction and lessens Detail l trade except in drugs In other branches business bas been fairly acjivej butot up expectations though the prevailing belief is that the lack is only jtemnoraryand ttial large business Reports from other C cities area littleless favorable The comparative c ulness in December was expected to befollowed by activity after New Years and there is some disappointment Pniladelnhia notes dunes ia i dry goods slow movement of clothing and prospects that large stocks will remain unsold and dulness in tobacco liquors dyestuffs and groceries the preva lent sickness being not as a cause with an enormous business in drugs Boston observes more life since the arrival of cooler weather but sales of boots and shoes are curtailed because winter supplies have not ben sold groceries are quiet and sales of wool were but 2440000 pounds fleece being firm but territory wools being lower Chicago reports double last years movement in dressed beef and grain but a decrease of a third in coal and a decrease in hides and wool dry goods sales below last years moderate dealing in boots and shoes and quiet in clothing At Cleveland trade is rather inactive at Detroit fair and at Milwaukee quiet with unfavorable prospects as to large country collections owing t the weather and the practice of dating ahead St Louis enjoys good business though the weather has somewhat checked sales and floods have embarrassed communications with Texas At Kansas City trade is dull at Omaha generally good and at St Paul the spring trade is opening fairly The mills are all operating at Pittsburg and iron products are steady coal more active and the glass trade fair Respecting money and collec tions the situation is about as last reported re-ported No important change is seen in the great industries Cotton continues to do well and woolen goods have opened at last years prices but as yet without specially satisfactory satis-factory indications The iron trade is still in doubt whether the heavy increase in production has been matched by the increase in-crease in consumption and while the prevailing pre-vailing opinion favors higher prices it may be noticed ithat moderate lots are occasionally occasion-ally offerebelow current quotations while in bar iron ahe feeling is less confident of late in plateiion the movement is not very active and BO sales of rails are reported Undoubtedly th enormous building last year sustained the iron trade at New York and Brooklyn the value of new buildings was 95000000 against 70000000 in ISbS and at Philadelphia the number was 9432 against 7675 in 1SSS but construction at such a rate cannot expected to continue The coal trade remains dull and affects prices of coal stocks though the average for active stocks is about 50 cents per share higher than a week ago But sugar trust stocks have been pushed down to about 50 notwithstanding higher prices for raw sugar The business failures occurring throughout through-out the country during the last seven days as reported to R G Dun Co number for the United States 334 and for Canada 39 or a total of 373 failures as compared with 322 last week and 2SS the week previous previ-ous to the last For the corresponding week of last year the figures were 381 representing 351 failures in the United States and 8 in the Dominion of Canada At the Banks The ore and bullion receipts at the various vari-ous banks in this city for the week ending Saturday January IS were 13187123 as compared with 5131140 for the week previous They were reported as follows fol-lows ByJIeCornick i Co Silver and lead ores 5 3 0 Hanauer bullion r 17575 0 Totaloo 000000 8 54675 0 By Welle Fargo i Co Ore 000000 31309 17 Base bullion 45087 0 TQtll ooouoo S 76090 2 Total shipments tor the week13187l 23 |
