The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-06-23
PROMISING OUTLOOK
IN BUSINESS LINES
Trade and Financial Conditions
Are Satisfactory.
REAL ESTATE ACTIVITY
BUILDING OPERATIONS CON-
TINUE HEAVY.

The past week has been character
lied in salt Lake by unusual activity
IN mining stocks. bv the first a~d
most important steps leading up to the
consolidation of the two street car sys-.
TENS. together with Calder's park and
the Utah Power company. and with
great activity in ala lines of building.
The retail trade of the city has been
good and collections are reported bet
ter than at any time since business
opened in the spring. JObbers are tell
ing cheerful story of big orders in
many lines and OF bright forecasts all
ready for the best fan trade ever ex-
perlenSed in this region.
The story told by the bank CIearinss
or the Cits has attracted wide atten-
ton. The good work was kept up in
the latter part of the week and the
outlook for the coming weeks. il for
still higher figures, although a luIl dur
ing the hot summer months is looked
Tor. The clea1iugs yesterday were
$7e4.5O15l, compared with SZl3, FOR
The corresponding day Of last year.
This brought the Clearings for the six
days Of the week up 10 "a, 537. ASST,
perhaps the greatest Clearings of any
week in the history Of the city For
the corresponding week of 1900 the
Clearings were &Z,O73.Q95.60 This rep
Iesents an increase for the week Of
S2.464. $685. or about 80 per cent
There was no activity i'm local stocks
during the week, outside of Utah sugar,
which changed hands in large blocks
mt from SIPS to S155O, a FEW small
blocks going at still higher figures. The
other stocks are stationary from the
fact that very few of them are offered
for sale. Bell Telephone enjoyed a re
Viyal during the week and was in de-
naud by local investors at par. This
is the result of the fattening out OF
the recent opposition.
one feature of the local situation that
IS attracting the attention Of local in
vestors IS the increase. that is soon to
be made In the capital stock of the
Utah Sugar company and the Coop
Wagon & Machine company and the
new issue Of bonds soon 20 be made by
the salt Lake City Street Railroad
company The Sugar company win put
$500, 600 worth Of stock on the market.
the Coop Wagon Will put 100000 adj
ditional stock out. and the street rail-
road company Will at its meeting on
July 8. authorize the issue of $500 000
worth of o per cent gold bonds. 1t is
not known whether these bonds will
be placed on che market. but the other
issues viii offer an opportunity Tor in
veEtOrs to put $500 600 into local enter
turns on the money invested. The bank
deposits are expected to feel the effects
Of these developments
Real Estate Activity.
The real estate market has been live
ly. in spite of the depressing effects
that were anticipated as the outcome OF
the auction sale OF city property and
the sale OF the Auerbach block. The
city property went at good prices and
instead of depressing the market the
sale seems 10 have had a stimulating
effect upon it, Not in years has there
been livelieT market-in hot weather,
while an the predictions for the fan
are of the most inspiring nature EV-
cry piece of property on Main street
offered for sale az anything like a rea-
sauable price is snapped up by cap
italists who stand ready to pay spot
cash for anything good that presents
itself. This is taken as one of the
INCEST encouraging symptoms as to The
future of the city as a, business center.
Building went forward without a
hitch during the week There has
been a. shortage of brick owing to the
number that were destroyed at the diff
fereut plants by the heavy rains in the
first week in May, but since then all
the dealers have been catching up
with their back orders and now state
that they stand ready to fill all orders
of any size thay may come i'm. Resi-
dences I'm large numbers, large and
small, continue to be projected, keep
ing contractors ana mechanics in an
the different lines on the jump and
still behind with their work. Not since
the days of the boom have skilled
vvorHlmen in the building trades been
in such demand in salt Lake as they
are at the present time.