Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-07-20
Phenomenal Increase in Bank
CIearings Has Been Fea-
ture of Week.
BRISK CONDITIONS OBTAIN.
situation Generally Hopeful. With
Feeling of Confidence Stronger
Than for Some Time.


s,tion now that the last echoes of the
disturbances IN the building trades have
d,cd away. and the future seems ress-
curing In money circles, the feature Of
.ne week has been the phenomenal In
nrease In clearing house transactions,
rpe largely, the management claims, to
unusually slow conditions In the mar
ket year ago at this time, and par
,Icularly brisk conditions obtaining
AZ the current date Rates continue
about the same. and Salt Lake bank
Ing men are pleased to observe that
western institutions are not liable to
be affected to any appreciable extent
nv unfavorable conditions OF the money
markets In the far east. Loans are re-
ported in fair demand with rates easi-
er than they were. Eastern advices to
local banks report that commence mas
been somewhat unsettled by the ag-
gressive attitude of federal. state and
city governments towards corporations
nv ensationai reports involving posi-
biities of war with Japan, and by UNI
certainties Regarding the monetary out
look But the crop outlook at present
IS very favorable, on account OF the
which recoups from the backward eff
fects of q slowly moving spring. The
wheat harvest now promises $50, 600 900
bushels of wheat, q good average re-
suit, although less by 100 100000 BUSH
els than the yield of a year ago. The
corn outlook promises 2,500.O00,0 600 BUSH
els. a decrease of 500.000,000 as COM
pared with 1906; but there are no lndi-
cations of any crop failures, even with
Au ~.
age is an assurance of a fair demand
for any American surplus. However,
cotton and corn are from one to three
weeks backward, which involves dam
ger from possible early frosts. The high
prices OF commodities are considered as
unfavorably affecting business, and ex-
cessive security Issues exert an unset
tied influence. 1t is noticeable, how
ever. that a greater feeling of conf
dence exists In the minds of the public
than has existed for some time past.
IT Is also evident that n good deal OF
buying in stocks was due to manipu-
lation and short covering. In addition
It is claimed that large interests were
not averse to a rise In securities.
BUSINESS IN SMALL LOTS.
Local real estate men report tho
past week has been devoid of any fea-
ture of marked interest. At the same
time. 1t Is noticed that there is q
good deal Of buying OF small lots for
the building Of moderate homes
which conditions obtaining In this
city favor. also, that there are pros
poets for the erection of several large
sized warehouses on the west side In
the Immediate vicinity of the railroad
tracks, In fact the movement has al
ready begun. for the Intern ountain
Milling company is erecting an eleva-
~ a n n
West street. between North Temple
and First North streets. and the Kay
company of Ogden Is to put up an el.-
vator plant costing as much II not
more. on the same street. between
Second and Third South streets. The
growth of the local railroad interests
is attracting attention to Salt Lake
as a distributing center, which is an
Incentive TO the building here of
warehouses for general storage phr-
poses Notwithstanding the advanced
cost of labor and mat erial, parties de-
sirous of having small homes keep
on building. many. II not most OF
these being without the supervision
OF a professional architect, the COM
struction being so simple that con-
tractors and ordinary builders are
able to put UP the cottages and little
houses from stencil plans. The build
ing OF such structures continues the
year around.
BRICK SUPPLY SECURE
The brick situation is in such good
shape now that makers say there is
no prospect of any shortage, no mat
ter what may happen. On the irst
OF the coming week the Salt Lake
Fressed Brick company will put into
operation Its new covered kiln, which
the organ OF the trade characterizes
as the greatest In the country, and
which VIII furnish 100000 brick
gay, AS one section is emptied of
nilck, II Us loaded for another burn
ing, so that the work Is perpetual.
ihen the demand for facing brick Is
TOW being so Well supplied thar there
reported no more complaint, There
mas been some call for the drab coll
ored facing brick. But local makers
say the clay which makes this kind
nus been found in no place but Colo
.nuo' and brick Of that tint must con-
t'hue TO come from Denver.
LUMBER TRADE STRONG.
The lumber trade reports business
good, both locally and outside. There
mas been . slight hesitation In placing
nders, but this is giving way to the
conviction that the trade Is about Oh
NE same basis for an indefinite period.
peeted TO be one OF getting the stun
acre ana not the price TO be paid An
other feature OF the week Is the ac-
non Of the banking men In cutting
gown the limits OF loans Ia retail lum-
oetnen' and seeking 10 induce them to
leespt money for investment Ia their
business This indicates the unlikeli-
1000 OF any considerable shrlnkagc.
me trade Is also stimulated by the
prospects OF warehouse building, and the
quotations OF q revival OF the building
tdraae the coming fall Deliveries IN
% days are being figured ON. and there
considerable rustllng In the trade
70 as TO he ready. The shut down OF
ngging camps In the northwest for 30
aays was to prevent gut and conse-
,ueni Weakness In prices IN the Cali
tornla market and has no bearing
Whatever on the Intermountain mar
kets. Mention IL made Of tho establish
nent OF a big lumber MIN AT Los An
feles 10 be supplied by enormous log
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