Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-10-27
Feature Of Local Business Week
Is Purchase Of the Utah
National Bank.
CONFIDENTIAL MONEY LETTER
Jpternrban Tmction Deal and Review
on Realty Markct---Ncw Buildings
And storm Repairs Under Way.

heavy wind storm, and continued diff
ficuliy IN securing goods from the east
Is experienced but on the whole. the
week has not been discouraging, and
some lines OF trade have been remark
ably active This last may be said
OF general merchandising. The trip
Of local businesa men to Las Vegas
l.hyolltc and BuIlfrog appears TO
have boon productive Of much good to
The jubbing Interests at this point and
the fact that the storm cut off Og-
den from participating In the cxcur-
sion, loft tho Held entirely free for IL
contest between Los Angeles and Salt
Lake In capturing the local Nevada
trade. The failure Of Los Angeles
johbcrs TO nll orders with anything
iikc promptness operated strongly IN
favor of Salt Lake. and then Los An
geles Is not mining center. while
salt Lake Is, and sympathetic relations
between the Nevada camps and Salt
Lake are. In consequence, naturally
stronger than between Nevada and
southern California whose chief IN
forests are fruit and real estate. Lo-
cal Wholesalers believe there Is every
! thing to show a fine future for Salt
Lake IN building up an eastern and
southern Nevada trade.
UTAH NATIONAL TRANSFER.
The feature OF the week In bank
Ing was w. $. bIcCornick's move In
securing tho control Of the Utah Ma
fsonal bank, whereby he viii be en-
abled 10 engage IN classes of trans
, ~ XIV, INA, you'd i,ot Do available
banker. This enlargement of his
sphere OF operations VIII make Mr..
MCCORMICK more powerful factor IN
iie local financial field than ever be-
fore ana has added materially to his
reputation as an astutc. seeing
nnancier,
The bank clearings have been keep
Ing ahead Of the record Of last year
NJ THIS time, with the exception or
yesterday. when the igure for the day
icli u iitue behind the figure for the
same dny or the previous year. The |
week " reported easy by the banks, |
with local rates Of interest unchang- |
cd, and collections good. Presidents |
~ three OF the most prominent local |
banks have returned from attendance
ON the annual convention at 81. Louis |
or tho American Bankers association.
more hopeful than ever OF the con-
tinned prosperity OF tho country at
large. Deposits are holding their own
for money ~ iiwht e"7o ine u0nand
.coNrrnrNr, ,,o.,r r
Va" '"V'Nh' TIER.
a confidential money letter iust re-
neived from Wall street states: "The
tendency OF the market during the frat
part OF last week was quite firm. and
although u WAC not advancing. prices
ave Deen maintained on the high level.
me nrst disappointment WAS felt
hrongh the peculiar action Of Amalga-
mated copper shares. When the dlrec-
ors Of this company placed the stock
ractically on an per cent dividend
asis II almost Immediately weakened
nd IL seemed as n arge anount, ~,
We're for sale When on tho succeed
NJ day. the Bank Of England raised
= maximum discount to per cent. the
'mefican market experienced a chill
lat could lead only 10 heavy liqulda-
on. The action OF the Bank of Eng
md had q much more dlsquleting ef-
'ct as II was accompanied by an i'm.
an ana sa po, III Ainei'can stocks IN Lon
I'D 10 withstand an avalanche Of SELF
y orders. Another unf0vorable factor
as the shar9 advance of tho rates OF
reign exchange. This absolutely pre-
uhes further gold imports. and brings
ie country to a gold exporting point.
ne tendency IN the bank market was
.sier, the principal dealings being In
= dliierent Japanese issues, c. Il. & @. {
nt s., Atchison convertible As and
ook lslond collateral trust A." '
REAr, rsTATr prvtr-,v
- = "r'F iE"
The real estate market II assuming a
sw phase. Heretofore. purchasing has
zen for the purpose OF home building
I'd Of late years with the Investment
ature added--that is. purchase 70, {
lfpose OF Income, a fixed return for
oney Invested. But OF late the real
tate market has taken a specnIatiyH
i'm, as the prospects of the CITY for
Ipld growth improve. that Is. purchas.
X With u View to more or leas i'm.