The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-05-13
No Improvement Noted During
Last Week.
PRICES ARE GOING DOWN
DEPRESSING DROP IN PRICE OF
WOOL.
Owners Who Held on to Their Crops,
Expecting Higher Prices, Are
Quite Blue Over the Outlook
Stagnation in the Stock Markets
Real Estate and Building.

There was no improvement in local
business during the week just closed,
compared with the preceding week. The
London financial correspondents report
that never before in twenty-five years
has there been such stagnation in the
stock markets there and on the CONT
nent, the same conditions are reflected
In New York and throughout this coun-
try. In all business where new invest
ments are required, or where there is
any element of chance, there is paraly-
sis. In London it is explained by the
Boer war.
The banking business of this city is
unusually quiet, much more so than
last year, and much more so than a
month ago. The clearings keep up well
and indicate a good volume of business,
but none of the merchants are satisfied
with their trade or with the outlook.
Prices are going down. There is no
doubt about this. The high level
reached last year viii not be touched
again in many years. Iron and steel
have been the gauge Of prices for fifty
years, and these are continuing to go
down steadily in price. All other COM
modities are bound to follow. This will
catch merchants with high-priced
goods on their shelves again, and is not
a pleasant thing for many of them to
think about.
Bank Clearings Decrease.
The bank clearings yesterday were
$262, 1I0-11, compared with 1888. S06.53 for
the corresponding day of last year. For
the week the clearings were 81, S95, 416.06,
compared with SPAS. S94.94 for the cor
responding week Of last year.
The drop in the price of wool has had
a depressing effect upon local trade,
too. The best offer that can be got
now for this staple is IA and Is eants,
while the growers were expecting at
least 20 cents. Those who sold last
fall or in the winter, before the market
broke, and those who succeeded in get
ting up q sufficient guarantee are now
in good humor, but those who held back
for higher figures are in the dumps.
And the worst feature of the situation
is that the outlook for the future is not
any brighter.
There was absolute stagnation in
local stocks throughout the week. No
sales were reported of any character,
and there is no change in the quota
tions from those given in this column
last week, except what can be &C
counted for by the payment of divi-
iends. There was one exception. Utah
Sugar went up TO S14S5,. and Ogden
Sugar to S143. The Deseret National
paid a per cent dividend, and Gun
ningtOn & Co. paid one of 2 per cent,
both quarterly.
In Realty Market.
There was no change in the real es-
tate and building situation. Consid
cradle property is changing hands in
quiet way, and there is much work go
ing on in the building trades on the
work already begun. Many small resi-
dences are being projected, too, but
there are no big buildings projected
for the summer. The eXtortionate
prices of building materials is given
as the cause of this. Men who propose
TO build on a big scale have reached the
conclusion that it viii be much cheaper
to build next fall than now.
Permits to build and to make i'm
provements were issued last week as
follows by Inspector Ulmer:
A. w. McCune, corner of Main
and First North streets, base
ment for large residence 1900 $40, 900
B. Hubbard, jr., ] street, between
Seventh and Eighth, two brick
dwellings, -............-... Z,oDO
&. L. Price, rear As West Sew
enth South street, three brick
cottages. .. ..........:......- 1000
". H. Moore. 868 West Second
South street, brick cottage. 1,150
NJ. BehIe, corner of State and
Eighth South streets, brick adj
dition .........,............ 1000
Five minor permits ........n... $50
Total GOT 600