The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-12-31

the year must await final accounting,
but the conditions prevailing present
the fuIfillment of a highly prosperous
year, although the increase in BUSH
ness IS not so marked when compared
with the preceding year. While excep-
tional individual instances show occa-
sional heavy gains in the volume of
trade, the average indicates a healthy
legitimate Improvement, fully as large
as could be expected for a year sue
ceedng a period that marked a COM
mercial epoch in the state The revival
among representative mercantile
shares of stock from hating values to
a position of stable strength offers the
strongest testimony to established con-
fidence. The banks, with few excep-
tions, have paid dividends throughout
the year, and have had a satisfactory,
although not brilliant, business. Large
balances have been carried, but the
commercial demand for money has not
been as large as anticipated, and call
loans are not in vogue locally. An
Improvement, however, has manifested
itself during the latter part of the year,
and savings institutions have been en-
abled to keep their money at interest,
although compelled to meet cut rates.
Commercial stocks throughout the state
have paid average dividends of per
surplus. Large deposits are to some
extent accounted for by heavy mining
sales, increased and accumulated divi-
dends both mining and commercial,
and the Capitalization of vested inter
eStS into this city. In these particulars
the year has been unusual. while the,
fact that transactions in shares have
trebled in volume, is entitled to due
consideration.
I'll r. -%-
The industrial interests of the state
have received an impetus that places
experimental investments upon an eS-
tablished basis. as strong and perma-
nent supports of the commercial fabric,
Experience has benefited the Gamers
of fruits, tomatoes, etc, whose inabil-
ity to secure cans at a critical period,
reduced the output about % per cent;
nevertheless the pack was increased
fully 80 per cent, as against the pre-
viouS year, amounting to $4,000 cases
for 1899. Plants for the manufacture
of cans are being established. and two
other extensive cannerieS are being
promoted. which will probably result in
the output beiPg doubled.
Another industry that is closely all
lied to the producer consists in cream
cry products, butter and cheese, and
has built up rapidly; about twelve new
creameries, representing an investment
of $50, 600, have been constructed in the
state. Thus far the supply of these
products has not always equaled the
demand. Prices have ruled higher than
for several years, and the business has
gained % per cent this year.
The manufacture of refined sugar
continues TO grow apace, and is being
sdded to by the erection of auxiliary
plants. The output for the year has
been 10000. 900 pounds, with a prospect
of doubling it in the near future;
prices have ruled unusually steady
and without any disturbing influences.
The local manufactures of shoes
have operated to full capacity, and
show an increase of 80 per cent, with
large orders in hand for the coming
year.
The output of wooden mills has in
creased fully Is per cent, running over
time steadily. The product of local raw
materials finds market, not only in
Utah. but in adjoining states, with the
exception of flour, the consumption of
which is chiefly local. Several trial
shipments have been made to China,
but the returns have not been encour-
aging. However, for the past seven
months a fair margin on local sales
has been established, and altogether
the volume OF business has been fully
as satisfactory as in 1898, although this
commodity for the first half of the year
was subject to fluctuations in price
which, at times, ranged below the cost
OF production.
General Trade.
General trade in groceries, hardware,
house furnishings, notions, etc, etc,
has been cause for congratulation. In
some lines a point has practically arr
rived where the local jobbers control
the field, and IN groceries it is esti-
mated that the wholesale trade of the
state will approximate s., 000, 900 for the
year Different houses claim a vary
ing percentage of increase in gross
sales. but a safe average is believed to
be from 20 to % per- cent. The agri-
cultural implement trade of the inter-
mountain region is controlled from
this city, and has been generally satis4
factory. In view of the fact that 1898
was remarkable rr its increase, an
average gain of only about Is per cent
is noted over last year. but collections
are hardly in proportion to the sales.
The partial failure of the grain crop,
coupled with low prices and poor quail
ity forces the carrying over of much
paper. The lumber trade has been very
healthy. with an average increase of 20
per cent The only drawback has been
the delay in filling orders. as mills have
been from sixty to ninety days behind
since August.
Short Crops.
While commercial and manufacturing
affairs have evidenced a steady and
moderate growth, indicating genuine
Improvement. the agricultural interests |
have not been altogether free from I'M
favorable features; the wheat crop is |
reported 30 be only 60 per cent of the |
harvest Of 1898, the shortage being |
caused by drought and unreasonable |
cold, with resulting impairment Of |
destroyed in some sections, with con-
sequent distress In seeds, the crop |
this year has not been as heavy as
usual, but the advanced prices have |
been obtained. and the net proceeds are /
larger The foreign shipment of seeds |
has fallen of, on account of the heavy |
domestic demand and high prices |
Probably 100 cars of seeds have been 1
shipped, of which Germany, formerly |
a liberal buyer. has received but a few |
cars
The activity in the sheep interest |
continues. but the business is said to |
be steadily centering into the control
of the larger operators. The supply |
of lambs for the market has been in |
sufficient, and IL is said that ewes are
freely shipped. with q. resulting decline /
in the increase. Prices of wool rule /
much higher than any period since |
1892. and altogether the industry ap-
pears to have reached the summit of |
prosperity
The record for the year in some par
ficuiars, has been remarkable and \
many trade authorities entertain SAN
glline views Of the future Others. more
nj A..