The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1884-04-23
THE HARVEST.

The HERALD cannot but con-
graduate itself upon the course ii
pursued last autumn and winter re-
garding local merchants. When the
break in freight rates occurred,
prices for transportation from the
Missouri river to Salt Lake being
dropped from three dollars to
twenty-five cents, good many
merchants, notably the smaller
dealers, seemed to lose their heads.
THE HERALD begged them to halt
and consider, and has reason to be.
Iieye that it's appeal was needed In
many instances; but in too many
cases it was not. The wires were
kept hot between this city and the
east, conveying orders for goods
and for weeks the carrying
capacity Of both railroads was
severely taxed to transport the
merchandise. Some of the more
enthusiastic buyers were put to it
to find storage for the immense
stocks which they rushed in, and
others loaded themselves down as
they had never before been loaded.
Six or nine months supply of goods
was brought in; there was scar
city of money before the exi1aor.
binary shipments were half over,
and not a few buyers were comp elled
to borrow to pay freight bills. No
thing but disaster could attend such
recklessness. These goods were
brought in just at time when busi-
ness was falling off. Lsborers were
being thrown out Of employ ment,
building was practically over, aud
everybody from necessity econom>
izing. To make matters worse, there
were no big enterprises in pros
pective, nothing indicating that
the coming season would be
brisk one in business; on the
contrary, everything pointed to a
falling off rather than an increase
OF trade all along the line. These
things were all pointed out at the
time, and where they were duly
considered by merchants the result
has been good, but where otherwise
the consequence is just what was
predicted. There is no denying the
fact that number Of the smaller
Salt Lake merchants are suffering
from the dull trade and overstock-
ing. They are carrying loads which,
it is feared, will crush some of them,
and every one who goes TO the wall,
no matter how small his business or
how Insignificant he may be in COM
mercial affairs, has more or
less OF bad effect upon the trade
generally. The half dozen failures
which have occurred in this city
during the past six weeks were of
slight Importance in themselves,
and the amounts involved are of
little consequence to those interes-
ted; but their effect upon business
in Salt Lake City is evil and de-
pressing, and added to the other
depressing conditions, will help pull
down houses that might otherwise
have been kept up.
If common rumOr has any truth
in it the assignments will not cease
until half dozen or more are filed.
Some of the shaky concerns, it is
also said, can weather the
storm if a helping hand is extern
ded to them, or if they be not
too hardly pressed. In one sense,
it would be only trade justice to let
them go and thus infict the penalty
for recklessneEs; but in another
sense, that of fraternity and gener-
osity, theyx should be helped, when
it can be done with reasonable de-
gree of safety to those who extend
the assistance. THE HERALD hopes
that if it can be done, a stop will be
put to the failures in this city, be-
fore there is an epidemic IN the
business; and as it predicted last
fall just what is now upon US, it
again ventures the suggestion that
unless the business men pull 10.
gether for time. disaster will over.
take persons who in ordinary cir.
cumstances would be regarded as
sound and solid. One such failure
of that kind would be extremely
injurious to all merchants doing
business here.
EdjnhuFph 22-RaImOut Castle