The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-14
TRADE OUTLOOK
GROWS BETTER
Volume of Business in Salt Lake
Is Encouraging.
LOCAL STOCKS ARE FIRM
SUGARS ESPECIALLY IN DE-
MAND AT RISING PRICES.
LOCAL STOCKS ARE FIRM

BUSINESS is improving in Salt
II Lake. and the general outlook is
better than it was week ago. al
though the change is scarcely percep-
tible The holiday trade is under way
and is fully as good as in previous
years. Business men and bankers gen
orally are inclined to be optimistic,
though conservative.
There are two depressing features in
the general situation, and several facts
that are encouraging. The bear fac
tors are the low price of silver, az
fecting the mining industry and con-
sequently general business, and the
tight money market in the east As
far as silver is concerned, the shrewd-
est observers believe that IL viii not
get any worse, and most of them think
there viii be a marked Improvement
inside a month.
The conviction is becoming settled
that the present low price is due TO
manipulation, aided Qy the forcing of
large amounts of silver on the market
by China to pay her indemnity. AS
soon as the temporary furry is over
it is believed the price will go up
again. In any event. most of the
Utah producing mines are in a posi-
ton to keep up operations even
though the price goes still lower. With
the copper mines coming rapidly to
the front, and the more remote prob
ability that the iron resources will be
developed, Utah is in a better position
than most of the states.
Money Situation.
The common belief among the best
informed is that the worst has been
10
During October and November there
is no question that the situation was
critical. This crisis has been gone
through, however. Within a little over
a fortnight annual, semi-annual and
quarterly dividends will be paid all
over the United States. and something
over $780, OO0, 900 will be distributed.
This amount must necessarily seek in
vestment and the outlook is for an
easier money market.
Nevertheless, the tendency all over
the United States is toward cOnserva-
tism. During the riot of consolida-
tons, reorganizations and trust forma-
tons. there was an enormous water
ing of stocks. The big syndicateS are
carrying huge amounts of stocks that
they cannot unload on the public under
present conditions, and il viii be some
time before the situation reaches nor
NAL, and the public is ready to absorb
this stock.
One of the most encouraging features
of the local situation. looking toward
the future, is the positive announce
Inent that every cent necessary for the
building of the Moffat road, the Den
yer, Northwestern & Pacific, between
Denver and Salt Lake, has been raised.
Renewed confidence is felt that this
road will actually be built. The pos
tive assurance of a railroad between
Z wall
as of the Denver-Salt Lake line. has
given added confidence in the perma-
hence of local investments.
e Local Trade Good
Regarding local trade conditions
during the week. George Rust, inter-
mountain manager for r. G. Dun &
Co. says:
"The holiday retail trade is begin
ming, and it is fully up to the aver
age. The jobbing trade is satisfactory,
with especial activity in holiday goods.
Collections are rather slow.
THE heavy SHOWS in the mountains
make the outlook encouraging for next
season, as, with ordinary good luck,
large crops are assured There will
be plenty of water in all cultivated
portions of Utah and Idaho.
'The low price of silver, while 1t
has had a rather depressing senti-
mental effect on business. has not so
far resulted in any perceptible curtail7
uent of trade. Most people believe
that the price viii rise again before
long.
Bankers are inclined to be conserva-
tive. but deposits are keeping up we'll
and there is plenty of money to loan
on high grade securities at per cent
and upward
The demand for investment securities
STR a .
been in especially good demand. This
IS due principally to the increase dur
ing the week of 20 cents a hundred on
refined sugar, and the understanding
that the sugar war has been settled.
The outlook is that the price for the
product will go a trffle higher before it
viii go lower, while the heavy SHOWS
indicate that there win be a good crop
of beets next season.
Increases Its Capital.
The Utah Sugar company yesterday
voted to increase it's capitalization to
$4,000, 600. half preferred and half COM
mon. There have been heavy sales of
both kinds of stock at advancing prices
Broker +. L. Burton alone has sold
$4,000 worth of Utah Sugar preferred
(options) during the past week, and
$4,000 worth of Amalgamated pre-
ferred. The Utah preferred calls for a
per cent annual dividend. This means
$4,000. AS the old company has been
paying per cent on $3,0O0,00O, or S240OOO
a year, no fear is expressed that the
preferred dividend Will not be taken
care of, although the holders Of COM
mon stock may have 10 wait one to
three years for return on their princi-
pal. The preferred stock has sold up
from $3.50 to SO. which is par, while
the common stock is quoted around 81.
This makes the old stock. exchangeable
for the new certificates, worth 81, at
which price it has sold, an advance of
40 cents a share for the week. The be-
lief that Amalgamated Sugar common
is approaching the dividend point has
strengthened that stock from $3.50 to
$50
Deseret Savings is up 81. being quoted
at 1922. Ogden Savings is in demand
at S147.50. an advance of $3.50. Not one
local security has had a. shrinkage in
values.
Local Stock Quotations.
Following are the latest qrStations Of
local commercial, manufacturing and
bank stocks at selling prices and high
est bids:
Deseret National bank $2S2 90
State Bank of Utah ....-......... 149 90
->sssret Savings bank ..-...-..... 232 90
Commercial National bank 1900 100 90
lions Savings bank ........... 132 90
Provo Commercial & Savings
hank I9n m