The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-09-09
BUSINESS AND TRADE.

| bUOlNbSS AMI Ih<AD5,
The special interest OF the week In
| business circles has been divided between
| the rushing of the Western Pacific rail-
way construction work westward from
| this city and the advancement OF the
| work at GARFIELD Ia the putting in Of the
| smelter plant and reduction works there.
The Western Pacific is getting the end
| OF Its track pretty close to what Is called
| "the desert" tract Of about fifty miles
| broad. to cross which would be very
hard work and almost impossible OF con-
| structlon in summer, but which Will =not
be so difflcult once the fall storms and
the seasonable coolness begins. The track
is now completed fifty miles west OF the
city and the work on the desert section
can begin almost any time. That work
will not be especially heavy In Itself,
but on account OF the dryness and the
heat 1t is almost impossible to work
there during the hot season, The push
ing OF this road to a connection with the
Nevada Northern will give speedy and a
reasonably direct access TO tho great
mining operations at Ely, Cherry Creek
and that whole great mining region. Tho
opening OF the Nevada Northern from
Cobre toward Ely will be made the occa-
sion OF q great celebration on Saturday,
September 2sth, which Will be participated
In by large number OF people from Salt
Lake. Ogden and the region round about
in Nevada. 1t will be a great occasion
and will mark the realization OF the
ng-hoped-for railway communication to
and from that immensely rich mining
region.
The plants at Garfield comprise an i'm
mense smelter being constructed by the
American Smelling company and the
Guggenheims at a cost that will ap-
proximate SO, 900 .000 A smelter city, COM
prising very large number OF cottages
for the Offices and for the workmen is being
constructed near by. Besides, this side
Of that plant proper. the Utah Copper
company and the Boston Consolidated
company are constructing concentrating
plants whose product will be taken to
the smelter beyond for treatment.
In the mining field this year will no
doubt mark a new record for the State.
Last year the metal mining product Of
Utah was Just under thirty millions. This
year, 1t will. no doubt. exceed that figure,
with room for growth beyond In the
coming years.
The agricultural operations OF the
State during the year have been at the
maximum in product and profit. The
grain yield has been excellent, and fruits
were never better. The fact that Utah
took the chief prize In the fruit exhibit
in Boise at the Irrigation Congress
speaks volumes for the favorableness of
the year In this line. The wool clip last
spring was very great. and brought an
enormous price. The indications are that
this will be fully as heavy and as profit
able, II not more so, the coming season.
In this city trade Is on an excellent
basis. both for strength and volume as |
well as activity. Collections are good. |
The jobbing trade is being constantly ex-
tended as new regions are opened to the |
north and the westward. The new de-
velopments OF the mining regions about
Ely and Cherry Creek will add very
largely to the trade OF this city, Industry
Is fully employed, and more laborerg
could find work. Labor Is scarce and
wages are high.
The real estate market Is In excellent
shape. with much activity, and prices
firmly held. Every one recognizes that
an investment IN Salt Lake renl estate is
gilt edged; 1t is as good as money in the
bank. for this city Is bound to be one
or the great centers of commerce and
population OF this country, There Is no |
rival possible for hundreds OF miles IN
every direction. This Is the natural. the
Inevitable center for a wider and a richer
area than any other city can claim any-
where.
Building operations here are enormous
" active. The demand for labor exhausts
The supply, and for materials enhancea
The price and depletes the market.
In the country at large tho movement
'f crops adds 10 the railway congestion
Ind runs the railway earnings I'D during
he month OF August 14.5 per cent higher
han last year. Trade and Industry are
enormously vigorous and active, and ali
he factories are running at the maximum
,apacity. There are no labor troubles ,
md the Industrial, commercial and 6nan,
;ial situations could not be better thar
he returns now show them 10 be RusS
less failures are below the average, ana
he bank clearances total 20 per cent !
llener tnan Ior lae same week last year
IN New York there Is a fictitious ,
carcity OF money, caused by the specu-
ative demand In the buying Of stocks. i
he public absorption OF stocks has been
cry large, and this has caused a good !
cal OF wild speculation. Secretary Shaw
Yarns against this, and he also notifies '
he moneyed men that the United States
eposits in the banks must not be used
o oppress the market by fictitious oper-
tions or for undue demands for interest
is working to the advantaee
the people OF the United States, and | -
he present year will undoubtedly mark
new record In NIL llrnr nf h.nIas.-.. -.