The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-07

CONSERVATISM
RULES BUSINESS
Volume of Regular Local Trade
Is Satisfactory.
SPECULATION IS QUIET
MONEY rs NOT SCARCE, BUT
BANKERS ARE CAUTIOUS.
SPECULATION is QUIET

- y
situation during tie past week.
and yet the volume of mercantile bust
ness has been large and apparently on
sound basis.
There are several reasons for this
caution Inc most important cause is
the general financial situation. In New
York the bankers adopted a more con-
servative policy several months ago
and began to contract their loans
Whlle easier money and a generally
improved situation are expected after
the first of the year, when the quar-
Ierly, seInf-annual and annual tfiVf-
dends of the great railroad and in
oustrial corporations are released. and
When the money begins to arrive for
the fall crops, the New York bankers
are stil putting check on speculative
operations.
Practically the same condition ex-
ISIS here Local bankers are awaiting
developments before Ioauing money to
any extent, except on gilt-edged Sc
cur1ty. There is plenty of money to
be had on high class collateral at as
low as per cent interest, but the
bankers are chary about letting out
loans involving. any risk This. as in
the east, is having tendency to check
speculation.
Low Price Of Silver.
The low price of silver. with its con,
sequent effect on mining stocks. has
not had as depressing an effect on gen
SraI business as might be expected.
BUSINESS men are wondering what
the future will be for the white metal.
put the feeling is that when China
enters the market after the first of
the year as a purchaser instead of a
seller OF silver, the price viii rise and
Utah will reap her share of the bene-
nj II the smelter trust would give
the Ilntlc mine owners better treat
ment charges, making possible the
working TO greater extent OF some
OF the properties in that district. the
local effect on business would be al
most as marked as an increase in the
price of silver. Despite the low state
OF the mining stock market. it is note
worthy that the total dividends for the
state are greater than they were a
year ago, and this money is flowing in
to the channels of trade.
Stockmen are the heaviest borrowers
at present and they are requiring more
money than USUAL to carry on their
operations. The recent car shortage
made it impossible for them to shin
All their surplus to the markets when
the animals were in good condition.
and now large numbers of cattle and
sheep must be carried over into an
other year. This has cut down the ex-
pected receipts from this source and
increased the demand for loans.
Local Stock Market.
The approach of the close of the year.
with the usual casting up of accounts
and making of new plans, has been
another factor in the hesitation to 20
INTO new enterprises Immediately.
Despite all these facts, the market for
local stocks and bonds has been firm.
although inactive. The increase of 40
cents hundred pounds in the price
OF sugar has strengthened sugar
stocks Utah Sugar went from 500 40
TO S2O.60 and Amalgamated Sugar COM
mon advanced from SIS to $3.50.
Deseret National Bank stock sold at
go after paying a special dividend of
per cent. This is only 81 less than a
week ago, before the So payment Des-
eret Savings, sold ct 1922 a week ago.
paid a 81 extra dividend, and is now
quoted at $3.50.
The fact that there is money in Salt
Lake for conservative investments is
shown by the demand for bonds at
slightly advanced prices. Mormon
church bonds sold % cents higher at
Si04. Salt Lake City Railway bonds
went from s102.5O to $103, and Sump-
ter Valley Railway bonds from $1O3.50
TO $104.
Latest Quotations.
Following are the latest quotations
of local commercial, manufacturing
and bank stocks at selling prices and
highest bids:
Deseret National bank. $40 90
State Bank of Utah ............. 1890
Deseret Savings bank ..... $50 90
Commercial National bank 800. 10000
lions Savings bank .-s.......... 1920
Provo Commercial & Savings
bank ...-.... .-................. 10000
Lehi Commercial & Savings
bank ......-..... ............... 10000
Thatcher Bros. bank. Logan 80. 1850
First National bank, ogden. $4,000
ogden Savings bank .-........ 1880
Amalgamated Sugar company,
preferred ...... ................ $500
Amalgamated Sugar company.
common. .......-..,. .,.......... $3.50
Greeley Sugar company ......... $4,000
Utah Sugar company ......-. 2O.6O
n c. NJ I......-................ 1890
Home Fire Insurance. 1890
Consolidated Wagon & Machine,
preferred .:.....-.-.-.......... 10O.50
Consolidated Wagon & Machine
common -. ............... 51.OO
Rocky Mountain Bell Tele-
phone. 49,. .................... 5000
Mormon church bonds ........... 1O4.00
Consolidated Railway & Power
bonds .......--. .......-......... 1O1-50
Salt Lake City Railway bonds. 1903 60
Sumpter Valley Railway bonds. 104 90
Davis County bank. Pennington. 10000
Provo Wooden Mills company. $500
Barnes Banking Co. Kaysville.. $1,000
Situation in Salt Lake.
George Rust. local manager for r.
9. Dun & Co, sums up the business
situation in Salt Lake and tributary
territory during the past week as fol-
lows:
The jobbing trade has been salts
factory, with rather urgent demand
for holiday supplies. The heavy SHOWS
in the mountains make the outlook
bright for next year as already there
Is assurance of enough water to make
good crops In some places, particu-
larly in some parts OF Idaho tributary
10 salt Lake, it is reported that they
nave more snow now than they had
all last winter. Groceries, drugs and
fancy goods are in good demand. Mail
orders are large for clothing dry
goods. boots and shoes. and notions
suitable for the holiday trade.
The city retail trade is satisfactory.
The holiday demand has begun and
the outlook is for good holiday trade.
In dry goods and allied lines the de-
mand is especially good. In the coun-
try districts trade is inclined to be
slow, and collections drag.