The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-01-01

0opeIu1 view OF the general C0mInerCldl
and financial situation as it opens out
with the new year, and in his annual
review Superintendent Harold NJ. Pitt
makes a splendid showing for 1894. His
report is as follows:
For Utah the year 1894 has proved
q pleasing surprise. It was predicted
at the close of 1899 that the early
months OF 1894 in fact until returns
could be had from farm products and
wool, was likely to be an extremely
trying period to both the merchants
and producers. This was obvious from
the fact that immediate resources had
been nearly exhausted during the de-
preston and reverses accompanying
the latter half of 1893
The start into new year was made
with trepidation and much anxiety for
the outcome, although the knowledge
that the preceding year had seen
great liquidation effected, and that the
liability of debtors had been lessened
20 such an extent as TO insure immu
nifty from serious pressure to a ma
jority Of those engaged in business,
3induced a feeling OF security that
favorable developments could, in a
measure, be realized. During January
1t was demonstrated that strict con-
serVatism was being observed by all
classes. Credits. expenditures and
purchases had been curtailed, and the
feeling Of security gradually became
general and formed the basis for re-
newed courage and hope.
This spirit of conservatism, engen-
dered by an unhappy experience, has
prevailed throughout the year. and has
doubtless been one of the greatest sus-
fainfTocy +1oa yoY-o af
business operations through the, period
mark by 1894.
LAS he year progressed it became
evident Vat crops would be exception
ally good, and the early movement Of
mutton. wool and cattle acted as an
incentive to freer and more confident
opera tons by all classes of business
people. AS the harvesting and market
ing of crops progressed, continued i'm
proVement accompanied, and from the
beginning to the end-aS one month
succeeded another, gradual strength
ening of feeling and conditions became
!, more evident and operated to induce
more liberal dealings
From the standpoint of material
profit and advancement the year has
not been wholly satisfactory 10 mer
camille and financial institutions, but
when consideration IS taken of the
Ozark condition that marked its ad-
<yent, of the unfavoTable prospects that
Sonfronted it, the feeling of all must
be that the realization was far ahead
or expectations of even the most san
guine. 1t is, too, agreeable to note
that the lessons taught by adversely
have not been passed unheeded and
men by their actions are showing re-
solve to live within their means and
with thought for the future.
"a favorable feature TO be noted in
the development Of the year. is the
saT in i1.Tl
tural and industrial pursuits TO equal
tze production and concentrate their
efforts to the more profitable lines.
This is particularly noticeable in the
largely increased production of hogs
and poultry, and as a result much
money has been kept at home which
before had been sent away.
The steady increase in the sugar
beet area is iessening, in some sec
tons, the production of other veget-
6bles and cereals which naturally tend
10 improve the home market for these,
and the truth Of the claim that-"When
ii is necessary to seek an outside mar
l1et for such products the producer is
obliged to accept a. price equal to the
price at the point shipped to, less the
cost Of transportation, whereas II
there is a home market the price is
equal TO the price at competitive
points plus the cost Of transportation"
is verified. This viii apply in almost
every case where there is a surplus
produced for which an outside market
has to be found.
"A comparison az this time with the
preceding year proves quite interest
ing. The first five months of 1899 were
profitable and wholly favorable and
with that period the corresponding one
of 1894 shows very heavy falling Off
during the remainder of the year,
however, 1894 showed an increase of
%k,+ No.,
sufficient to wipe out the loss during
the first part. Comparing it as
whole, the volume of business for the
year IS estimated at fully 10 per cent.
greater than for 1893, although prices
have ruled lower during the past year
and the increase in value in aggregate
transactions is not appreciate. This
IS due partly to a sharper competition
particularly noticeable in groceries and
hardware and partly 10 a lower cost
of manufa ctured articles.
THE situation is now conceded to be
better in all respects than a year ago,
while prospects are immeasurably bet
ter for 1895 than they were for 1894
with few exceptions, reports from
country correspondents carry a health
fpl tone and hopeful feeling. 1t is the
opinion of those in a position to be
classed as authorities, that a solid
foundation has been formed on which
a substantial superstructure can be
built, and that the work OF building is
going on slowly but IN q manner to in
sure safety.
THE territory is effecting a great
saving in sugar, hog products and va
fious manufactured articles and the
money thus retained enters as q ma
terial factor into the business life Of
the community.
The improved condition Of the peo-
pie throughout the country combined
with the fact that business has settled
itself upon a conservative basis, in
eures q more healthful trade than ex-
listed during the early part of 1894.
Credits are being extended more care
fully and although profits are less,
losses will also show a falling off and
the same volume of business can be
done with considerable less capital.
The prospective separate receiver
ships for the Oregon Short Line and
the Utah Northern and the Utah
Aouthern are being hailed with JOY by
bur business men for, liz the consum-
nation Of this move an abatement or
the cruel and unjust discrimination
that has marked the attitude OF the
railroads towards Titan from the be-
ginning, can confidently be expected.
It is this treatment more than any
other thing, that has hampered the
jobbing trade Of the cities and injured
the business of the country merchants.
The former have had to compete with
the outside trade, with local rates
against them and with the additional
disadvantage of having local taxes and
licenses to pay, While in the case of
the latter, heavy purchases have been
made necessary in order that they