The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-01-01
MERCHANTS USE
NEW METHODS
Significant Change Occurring In Conduct
Of Affairs Many Causes Con-
trlbnte TO Years Prosperity.
THE battle for business was never

he Dattle Tor business was never
j more ferCeiy waged i'll Utah than
during the past year, and the con-
dItlon of trade was never more COM
pick than al the close of the year The
output from the mines was the greatest
IN the history of the state. and the ac-
uNlty IN the mining industry compares
We'll with the best previous wear while
business on the mining stock exchange
was better than the previous year. al
though far below some Of the best years
farther back The wheat crop was the
pest and largest ever raised in Utah:
and agriculture i'm all lines. including
1ruIt. made a record that stands with
out equal ON the other hand, the cat
lie market was demoralized throughout
the year. prices for cattle and sheen
We're low; the number of failures in
the state exceeded these of 1903. and
the liabilities Of the institutions that
went under liz the struggle were far in
advance of the previous year
On the whole the year was good
one III the business of the state. and
at the close the business standing of
the merchants of the state as a whole is
hSher than ever before This notwith-
standing the increased number Of fail
ures. and the increased business done
on credit in the state. This good stand
ing may be accounted for by the fact
lhat more modern met hOdS now apply
IN the business OF Utah. Formerly most
al the merchandising was done on a
sort OF cooperative plan. The older
houses. established before the advent
OF the railroads. held a monopoly of
the wholesale and jobbing business As
a result when the newer houses opened
II was necessary to give unusual cred
ITS and terms to gain fOOthOld. The
older houses met these advances and
The result was that retail merchants
in Utah got longer time bigger dis
counts and better terms i'm every way
than merchants in other states. Nat
urally they came To feel that they were
4 a hOHGa
by trading with il on any terms, and
naturally, too, the business OF the COM
nunity was more or less demOraliZed-
NJ dern methods made big gains during
The year just closed and d better I'M
Outstanding prevails at the close or the
year than ever before.
Money Plentiful and Cheap.
The tone of the money market. re-
TeCted largely by the tone of the banks
OF salt Lake, WAS admirable through
out the year There was a cOnserva-
ttsrn that held speculation in check
while at the same time giving cncour-
aGement to all legitimate enterprises.
There has been an a abundance Of
money in the banks at all times during
the year except the early months. The
TightnesS then was due to "A tie-up of
capital by the banks Of the east in the
fall before But throughout the late
spring, the summer and fail no Dor
rover had any complaint to make Of
the treatment received by him at the
local banks il he could esta bIish the
safety Of his proposition and put up
The security that all good banks must
demand The rates of interest were
reasonable and il is safe to say that
In salt Lake at least money was never
cheaper than during the greater part
IF the year just closed
The general prosperity of the state
for the year is due to more than one
factor. The great showing of the
mines takes precedence as a matter of
did showing of the beet industry.
These matters are fully set forth else
where in this issue Of The Herald.
Another factor of great Importance
was the abundance of snow and rain
In the spring. This furnished more
water for irrigation than the people Of
the state had enjoyed for several pre-
Nious years and made it possible to
raise large crops. This was especially
true of wheat. The acreage was larger
and the yield greater than i'm any other
year. Added to this was the fact that
the quality e the grain was superior
and added to all this was the high
price commanded by this staple. Fruit,
alfalfa and vegetables followed closely
on the heels Of the wheat crop, making
it possible for the farmers to pay of
debts of long standing and buy more
than in previous years, thus extending
their prosperity to the merchants, both
retail and wholesale
Poor Showing of Cattle.
One Of the dark spots on the other
wise bright picture was the condition
OF the cattle market. The strikes in
the east are given the credit for de-
1nOralizing the cattle throughout the
country Be that as II may, the de-
4nand for Utah cattle was so light that
- prices were disgrace when compared
with the prices of other commodities.
And an eXasperdting feature of the
situation was that while CATTLE went
begging the prices of meat were never
higher. The beef trust manipulated
matters in such a way that while they
got the cattle on the hoof at their own
prices and those prices too beggarly
TO be quoted. consumers were forced
to pay fancy prices for all kinds Of
meat The sheep market was fairly
good and this was true also of the wool
market both important factors i'm dis
CuSsing the general financial condition
of Utah.
Little Help From Railroads.
The fact that little construction work
was done by the railroads in Utah dur
ing the year had a tendency to limit
the volume Of business to a consider
able extent. Another factor that has
operated to retard business, especially
among wholesale dealers and jobbers.
has been the unsettled condition of
freight rates. The feeling is general
THAI present schedules operate directly
agafTSst local dealers and in favor Of
dealers at distance, particularly on
the coast. Persistent efforts were made
by the Commercial club of Salt Lake
throughout the year to bring about a
better arrangement i'm regard t.
1Teights- Nothing definite was aeon
plished up to the end OF the year ~ the
way Of bringing about changes ~ the
schedules, but the work will oe CON
tinued and the hope is entertai led that
more satisfactory conditions viii ie-
suit
The expansion during the year Of the
q ar of q
much TO build up the business q the
state by bringing the wholesale deal
eTs and retail merchants into closer re-
latiOns and establishing "A better I'M
Outstanding. The Importance Of the
work OF this organiza ton is not over
looked by the business men.