The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-05-26
SALT LAKE BUSINESS
BREAKSAL ALL RECORDS
Local Retail Trade Reaches
Enormous Proportions.
TO ALL LINES
GOOD REAL ESTATE AND BUILD
INC CONDITIONS.


Lake is breaking al records for tbs
season OF the year. This statement is
borne out By the testimony Of every
leading merchant in the city. Last year
was a great year for retail bUsines s.
and the merchants of the city were of
tae opinion that e. would be n my
years before 1t would be eclipsed-. 1t
mas been thrown completely into the
shade by the springs business now
closing, and as a result the BUSH "a
men of the city i'm all the leading Inns
of trade are feeling highly elated.
The increase is most marked in the
zine Of dry goods; the spring was slow
I'm opening. but since the fine weather
came there has been q rush for goods
IN every popular store i'm the city the
like % which was never before expert
enced- The =. g.. NJ. l. sold $4,000
worth of goods at retail in one week
an May. the largest weeks retail bust
ness ever transacted by that institu-
tion. Practically the same story is told
10y the other leading stores of the city.
Up TO Friday morning the week had
oeen the greatest ever experienced in
the history of salt Lake in the lines
of dry zoo Is and notions. The wind
storm o. Friday and yesterday inter
Tered Sc lously with business IN these
lines as So prevented ladies' from get
ting Out TO do their regular shopping.
Business IN Other Lines.
The heavy business was not confined
to dry goods, but extended to GARD
ware, clothing furniture, footwear
ana agricultural implements. In al
these lines the volume of business is
reported to be far ahead OF that of
last year. aud the outlook for DUsiuess
through the summer months is ROW
considered 20 be very good. Prices this
year are stated by t&e merchants 20
De about the same, but the people are
as I'd rule buying "a better class of
goods. This Is especially true riu the
line OF furniture, carpets and carriages
IC is taken to be an Indication of T-f)re
prosperous conditions atCOug the tJeo-
pie generally. One merchant reports
the SAX of wall pSper il large quaint
ties as high as 81 "a roll, which would
mean $50 for paperins good sized
room.
The springs business is considered to
be practically closed by the 1st Of June,
and many of the merchants are busy
OveTh8ulng their stocks making ready
for the summers business
The Building Boom.
There is one other factor in the To-
cal situation that is most encouraging
This is the amount of building going
on in the city. Houses are going up
ia every direction at a rate never he
fore known outside of the boom. and
the demand The demand for good
houses to rent is something unhesrd Of
and rents are going up SO high .hat
many people find it cheaper to build.
even at the high prices asked Tor all
kinds Of material. than to rent. The
low rate of interest charged TOR mon ~
is another factor in this matter of
building, and many people find it pro-
stable 20 borrow money with which 10
build.
There are not many real estate deals
being recorded and no very large ones
and yet the amount of money that IS.
going into small homes in the city IS
one of the most encouraging indiCa-
lions TO he found.
No Vacant Store Rooms.
One other thing in this same counec-
ton attracts the attention Of every
viz cor TO the city and thaC is the fact
that there is not n vacant store room
to be found anywhere in the city. Ia
fact the demand is far greater thal
the supply. and the rents of eligible
rooms on Main street are reaching y
point Tar above amy ever touched be
fore. Tt is one Of the surprises shat
there are not a great many more bust
ness houses going up this year. The
reason assigned for this is the hiSh
prices sat which good business property
is beng held the holders are di-in-
CIined or unable to build and are
Wen posted men state that. one effect
of this VIII be to broaden the business
district and bring in property tnat is
not now held to bee first class for re-
tail trade. Just which streets would
be the first to benefit by this movement
cannot Ice stated with any degree Of
accuracy.
The healthy tone of general business
is again reflected in the bank clearings
of the city. The showing made in this
NOT l-er1 of
two weeks previous. Out sfi0 il is suCn
as to be a source of much Qualification.
For the week ended Thursday night,
when Bradstreet's weekly report was
made M the Clearings OF this city
were $3I10.600. a gain of 42-g over the
corresponding week OF 1900. The clear
iugs- in the other western cities for
The same time were Denver $A15I,-
GOO, q gsiu Cf 10.7 per cent; Portland
ore. -. 1870. 700. a loss OF 2I.3 per cent;
Los Angeles. S3.125. 600. a gain of pol
per cent; Seattle, $3.50. 600; a loss o. 3
per cent The salt Lake CieariuEs. for
the week ending last night were So
$50. 48y-t compared with S2,0t3. OBS 81
for the corresponding week of last
year. Yesterday the CIearings were
1914. S66.47, compared with S213, 002.03 for
the corresponding day Of 1900
Real Estate Conditions.
The week was a quiet one in real
estate. no sale OF any magnitude hav-
ing been put on record IniS was not
due TO the lack Of buyers, but TO the
higher prices that have been put upon
an the desirable property that rlay be
said to be I'm the market. Any prop
erty thta viii be offered for sale az a
price that promises the buyer a fair
return on the investment win have lso
trouble at all in being sold. The strong
demand for residence property is. still
on the east side between Third street
and Fourth South. and as far east as
Twelfth street.
Building operations are going for
ward satisfactorily In all parts Of the
city and there is already enough work
mapped out 20 keep all the local me-
chanics engaged for the entire season.
with VERY much more work in prospect
Tor the immediate LJture. The labor
troubles seem to have blown entirely
over, ard the present oatIook is for a
record-brealing year in the matter of
buildiE5
Commercial Blocks.
The only real activity in the local
commercial stock market was In Utah
Sugar again This stock went TO Sl9
per share. where it, closed, the highest
eprfce II shas reached. The quotations
ON the other stocks We're as follows at
the close Of the week
Deseret National bank ...........st54 90
=. q. nj. I-.-.-..- re- 800. J4z 90
Home Fire Insurance company III 90
Utah Sugar company -.--.-...--- 10 90
ogden Sugar company ..-....... le9 90