The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-11-05
Mechanics Have More Business Than
They Can Handle.
IMMENSE FALL TRADE
MATERIAL IMPROVEMENT IN
BUSINESS CONDITIONS.
Local Money Seeking Investment In
Local Securities-City Railway
Bonds at Premium-Bank
Clearings Continue to Show Big
Increase.

Salt Lake business improved mater
tally during the past week and every
thing now points to the largest fall and
winter business ever known in this
city. The unusual thing has happened
of local houses being forced to turn
down good outside orders, because of
their inability to fill them, and this in
the face of the fact that never before
in the history of the city, except, per-
haps, in the boom years OF the early
90's, have the merchants carried such
heavy stocks as they have now. 1t is
a fact worth noting. too, that there is
scarcely a vacant room to be found
in the business district of the city.
Cannot Get Goods.
Dealers in some lines are having seri-
Gus difficulty in having their orders
filled at the factories. This is especial
ly true in the line of iron and steel
goods. As an indication, of trade con-
ditionS in these lines. ii was given out
early in the week that the large rail-
roads of the country had united and
placed one order with the mills for
100000 tons of steel rails, or two
thirds of the total output of all the
mills in the country for next year.
This order amounts in money to $780,.
100000. The price was S33 per ton a
year ago the same rails could have
been bought for SIS or $19 per ton.
This indicates that the boom is to
continue through the next year. 1t
shows, too that those swho wish or
ders filled in the way of structural iron
and steel must have their orders in
early. There are many close observers,
too, who see in this large order for
steel rails, the largest recorded in the
history Of this or any other country, a
tremendous boom in railroad building
for next year.
Heavy Bank Clearings.
The bank clearings still continue
heavy. They are taken by many as
the safest index of business conditions.
Yesterday the clearings were $315.S94.
compared with s339,299 for the CORE
spending day of last year. The clear
ings for the week We're s2.666.619, COM
pared with 81. 622, 1897 for the correspond
ing week of last year. This is a gain
of $1.043,6s2 for the week, or over SO
per cent.
Money continues to be drug on the
market, and lenders are, experiencing
more trouble than ever before in find
ing channels for good investments. In
terest on short time loans is down to
per cent. a point never reached be-
loans on good property can be secured
at per cent without difficulty.
Buying Local Bonds.
As an indication of the local money
it may be stated that within
the past few months $4,000 worth of
Salt Lake City Street railway bonds
have been brought in from eastern
holders and sold to local parties. and
that they sell readily now in Salt Lake
at 102A and accrued interest 1t is
also stated that los is bid for Salt Lake
City bonds bearing 5 per cent interest
and due in 1918, but none are to be had
at that figure. There is a strong and
increasing demand for local securities
that will net per cent income.
The quotations on home securities for
he week are: ...
Deseret National bank (bid) :. S237 90
Deseret Savings bank (sales) 122 90
State Bank of Utah (bid, ex-
dividend). ...,.. :. ....-. 126 %
dividendl. -. -. -. 12s 90
(bid) -. 100 90
ogden First National (bid) -. 176 90 /
4ehi Commercial & Savings
tSales) .-,-..--. w
Sank of Commerce (offered) =. 80 90 |
National (offered) n 80 |
National Bank of the Republic,
(offereO -. .-.......... 40 90 |
:. C. NJ. /. Ibid, ex-dividend) :. 1872 so |
company ibid -. 101 90 |
clark, Eldredge & Co. (offered) 70 90 |
,o-op Wagon & Machine Co.
(SaleS) ll5 w /
Tome Fire Insurance (sales) =. 102 90 !
Z. NJ. B. Telephone (bid) 49,. 101 90 |
ogden Sugar company (sales).. 155 90 !
Utah Sugar, old series (sales).. II 80 /
Utah Sugar, new series (bid).... 80
,hurch bonds, with interest
(sales) $500 49, ..--.--..--- 1oo w
'treen railway bonds, ex-irter-
est (bid) :. l02 %
No large sales of any of these stocks
re reported for. the week; in fact, there
re no large blocks for sale. There
we're numerous small sales at the quo
atoms given above.
Real Estate Quiet.
There has been a lull in the real es-
ate market during the week. specu-
alive buying has stopped for the time
nd the purchases recorded are for per-
nanent homes or permanent invest
lent. All dealers, however, report good
in progress and look for
,ard to much greater activity after
he election of Tuesday.
rnAHye oar nDnDEDrv