The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-03-29
LOCAL BUSINESS
STILL MORE BRISK
Retail Trade Is Steadily Improv.
ing-LuII in JObbing.
CAUSE Of SMALL CLEARlNGS
REAL ESTATE MORE ACTIVE
THAN FOR MANY MONTHS.
CAUSE Of SMALL CLEARIRGS


weather retail trade in Salt Lake is
steadily improving. 10 needs few more
mild days 90 give fun stimulus. but BUSH
ness On every branch shows steady inn
provemeut and is generally satisfactory.
This is especially true in dry goods and
millinery. Easter viii Dee here in another
week and there is the customary rush
IN articles of wome1s apparel The dress
makers are working overtime and the
dry goods stores are selling large
amount of materials 90 keep them busy.
ln hardware and mining supplies gem
orally there Del good demand and the
same ls truf OF farm implements.
Just before conference there ls usually
a iull Ono the Iubbiug business. as so many
country merchants hold their orders %
place them personally when they can
take advantage of the conference rates.
This ls true al present but the general
Increase iu the volume of business has
made the aute-couterenee falling off less
than usual.
Decrease in Bank Clearings.
ono of the anomalies of the situation
ls the decrease lu bank cleariuss in the
face on the generally improved COudl-
tIuDs Iu regular business Although the
merchants are unanimous iu the state
meut that business is much. better now
imam 10 was a year ago. the clearlugs
have constantly been less than for the
same period last year, Bankers say
there ia mo- significance iu this.
There are three special reasons for
The decrease lu ciearlnEs." explained h.
W. Wilson. cashier of the Bank of COM
merce. zone Is the greatly increased
use OF drafts instead of checks in MAX
ing outside remIttaUces. Second is the
present general custom of Cash.uE clear
ing house receipts dmIV instead of car
rNiug them over tO the next day Third
ls the decrease iu the brokerage business
in mining stocks.
"The first reason cited is the most i'm
portauJ Within the year the clearing
house hanks put into effect q rule charg-
ing rNrhdngc uu checks sent out side the
state. The eNchau"e is charged 10 the
'thrr "nd, or else 90. lS paid al this end
and charged Co the recipient As ID re-
SUIT there has been general objection Co
THIS FORM uI remittance and request
lhdt drafts De sent in payments. Con-
srquentN drafts are being much more
generally used. They do not figure i'm
the ciearinss. while checks do.
Cuts Down the Totals.
"a year and Two years ago. when "a
hank received "a clearing house receipt
showing credit DC was customary 10
carry this over and put 30 into the clear
lugs the next day. This of course swelled
me cletrlnss. Now the banks as q rule
are cashing in the same day. which cuts
I down the totals considerably
The Jnlrl cause is generally appar-
cnt Two years ago the CIcWiuCs were
sWelled enormously hy the large amount
ot business done ou the mining stock
exchange. Tho exchange of checks
among the brokers made "a large pro-
portion of the total cle8rings. This feIl
orr year ago. and the speculation has
stiu further decreased this year. con-
trouinG Co the general falling off m the
ClrarInEs.
There b. o. general feeling Of pros
ner.ty lu Utah and elsewhere hut the
tendency Is toward conservatism. The
improved condition OF the metal markets
helps the mining business and may i'm
crease speculation. while the heavy
snowfall has brought confidence fu The
agricultural districts In the east
large volume of business Is being done
hut the tendency OF the banks Is DO con-
tract loans and keen everything down
on solid. conservative basis.
Decrease in Loans.
"The New York bank statements show
steady decrease in loans and this
also brings down the DEPOSITS A dam
per is thus nut on speculation. and the
values ln stocks are steadily shrinking
especially among hose which have had
inflated quotations. This is an enC0ur-
aging sign as long as DO goes ON slow
lN and steadily and there is mo- alarm
values are being placed Uu legitimate
basis. one reason why the deposits iu
The east are not HS high as might Do is
that the grain crop has not been mar
need OF money they are pretty sure 90
hold their grain. and That u.s. what thew.
are doius this year They made money
on be- last year and they are going %
try % again or course tho car short
age has had something Co do with this
Dur aside from that The tendency of the
farmer IS tu hold for better prices
view York is not getting the proDur-
ZION uf money she used Co. 10 is BEING
scattered more than ep-r and IS being
kept moro at home by che smaller banks
law passed by the last congress viii
help this This agt provides that gov
eminent reserve AGENTS may De- created
boo cities having population 0T 25Ol0
and over on petition of three-f0urths of
the national banks in the city, The re-
sult viii De- that large amounts OF money
VIII Dee kept boo cities Ike Salt Lake. for
instance which would otherwise be sent
90 New York
Tho banks generally report good feel
iug amoug their customers Money fs
I'm good demand. The supply Is liberal
but bankers are inclined 90 Doe euusarva-
tive. Rates are firm.