The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-06-09
BUSINESS CONDITIONS.
Volume Of Trnde Satisfactory to the
Merchants.

volume OF IIfu6 0dLlELGCGOIV 20 the
Merchants.
The past week mas been an event
ful one in local business circles. Very
little transpired outside the regular
] Dutne. and yet the volume Of trade.
anC the general conditions have been
such as TO inspire confidence and give
satisfaction to most merchants. The
condition OF the wool market is unsat-
jsfEctCry and the prices have been q
son disappointment to many. Wheat
is p shade lower on the prospects of
heavy crop and these items have had
their influence on the local market.
still the universal report ia that bust
ness is good, that collections are Ialr
and that the outlook is as good as any
reasonable man could Gesire.
Gain in Bank Clearings.
The bank clearings of the city are
stih telling their story Of largely in
are making a record that has never
been to1ched in the past. There is not
a city OF the size of Salt Lake any
where in the United States that can
come near comparing with her in this
respect. and there are very few cities
of any size that can compare with her
in the increase over last year New
York was the only C,-y in the entire
country that exceeded Salt Lake last
week ir the gain in bank ciearings.
Lake it was 1872. The average gain for
the country outside of New York was
o.. The Salt Lake clearings for the
week ending on Thursday night were
uigLC the Clearings We're S5,l4Os 1859,
compared with S1.945. 437-S5 for the cor
responding y eek Oe last year Gester-
day the clearings were sass, 638S0, COM
pared with 9O.69A76 for the cores
pOnding day in 1900.
m
history of the week was the increase
OF the stock of the Utah Sugar COM
pany from SlOO0.00O to s2,O0900O Tor
the purpose in time of establishing a
factory in the Bear River country on
the tract Of land recently purchased by
r. r. Cutler and others This Increase
was duly authorized at a meeting OF
the stockholders Of the company yes
terday the board of directors met at
the office of President Snow ana acted
on the authority given them. The issue
of $500 600 worth of new stock was Eot-
ed. fun payment for which is to be
made not later than July I. next. This
stock will be sold to the holders of
tity of the old stock was sold during
the week at prices ranging from SIS
down 10 $3.50. 1t closed Ground the
later figure
Local Stocks.
very little activity in local commercial
stocks during the week, and the prices
were Just about as quoted last week
Where there was any change at an
there was a slight increase. There IS
very little stock to be had at the prices
quoted. and the fact that there is SO
little on the market is the explanation
given for the light business. tr Is
fact worthy Of enote that during the
week so. 600 was offered for 600 shares
OF stock OF the Salt Lake Street. rail-
road of the par value Of $4,000. and
the offer was promptly turned down
There are no quotations on this stock
as there mas been none Of it on the
market FOR sometime past The bonds
are quoted at 1919, which is better
than ever before
Tbe week was a light one in real
estate. and dealers are Of the opinion
that there viii be somewhat Of let
uq I'm the buying until the fan trading
begins At the same time there are
BUYERS IN the market ready TO take
anything that can be proved TO be a
good investment, and the purchase OF
in moderate circumstances goes for
ward steadily. Many owners are hold
ing to their property pending the set
Element Of the railroad enterprises thai
are likely TO affect the future Of the
city-.
Building is going forward on all sides
satisfactorily The labor troubles tha'
threatened so much early in the spring
have been adjusted, the brick AND
stone famine Is practically at an end
and buildings are going up more rap
sdlv than they have at any time so fal
this season. There does not seem TO b'
- mechanic in the city out Of work, ans
the pTosp scts now are that there WI
be plenty Of work at good wages fol
an throughout the entire season