Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-12-14
,.a.tion Of Business Activity is
Aseribed, With Not Enough
Money to Garry 1t.
NOW IMPROVING.
81 business Good. Especially In
Holiday Ilnes-I. \. l.. Realty
peal Feature of Week.

arf Banking circles remain quiet
t,,b gives opportunity for bankers
,sr one another what was the
.. ,f the panic. There is quite a
,,,rsitv OF opinion I'm this mater. but
4 one banker remarks. in his opinion.
,.ss due TO initiation OF business ac-
,itr whose increase was out Of all
-oportion to the increase Of money
4 -,csssarv TO carry on the same Con-
,rcnuy. there had to be less busi-
ness or more money and as the lat
1 ,.r has It's limitations. something had
break. As an illustration: Ac-
riding to the last report OF the comp
.roliar Of the currency, the aggregate
...ourccs Of all tho reporting banks
e,r 1904 had increased SOS millions
,,er the resources for 1903. The re-
sources for 1905 had increased over
those for 1904, by 100 millions;
those Of 1906 over 1905, by 1900 mill
lions. these being in round figures.
Il The increase for 10 years ending June
40 1906. amounted 10 1O:500 millions
Perhaps % better Illustration would
n ne follows. The deposits i'm an re-
nortine banks In 1896 amounted to
ls5 millions. while the deposits in all
tbe reporting banks for the 10 years
ending 1906. or / 0 years later, amount
ed TO 1925 millions, an increase OF
7g70 millions. or over 140 per cent
The stock Of money in the United
states in 1896 amounted 70 1.SOO mill
liens. and ia 1906 It was 5000 mill
lions. an Increase Of 1870 millions, or
10 Der cent This shows business has
increased 14O per ce2t In 10 years,
while the money Increase amounted to
only 90 per cent.
It must be evident TO every think
Inc person that any such feverish
activity could not continue without
roduong serious disorders I'm the
financial market; that halt was abb
solutely necessary. and the sooner it
came the better e would be for the
country.
There ls one gratifying feature, how
ever Do this situation In that the panic
struck the country at time when
many factors were at work for pros
neriJy The farmers had excellent
crops the gross value of which Is quite
q percentage greater than for num~
Il MycaH past The banks of the coun-
r were doing "a conservative business,
hr nearly an prudent bankers fore
saw what has already taken place, ana
nantd matters TO meet the shock. The
uu few failures that occurred IN the
aa Of so threatening "a situation, Is
rnng evidence of solid conditions OF
OBJ banks; and that while II usually
likes considerable time for general
BUSINESS of the country TO readlust IT.
.ef TO new conditions the time for the
banks TO get into shape after panic
usually much shorter. And n the
New York banks We're ready To resume
cash payments, all the rest Of the coun-
ry could readily follow. How soon
New YORK can resume cash payments,
IS at the present time a little uncer-
tain.
Things are pulling themselves around
Into shape. but the disturbances al that
point. the very heart OF the financial
system OF the nation, was greater than
PARTIES at this distance can appreciate,
and must have time 10 straighten their
matters out The hope that Congress
would pass some measure granting ES-
nanai4l relief Is much less promising.
ID Is doubtful IL any measure can be
agreed upon until after holidays, II
even then. Unfortunately the matter
has shown a tendency toward getting
INTO politics. but. taking the matter all
n aI there Is certainly much improve
ment in the financial situation. with
evidence that Il viii continue.
ONE BIG REALTY DEAL.
Tho realty market experienced but
ne marked feature, the purchase by
hC j. j DAILY interests into the l. y. /.
Iwi,ure plant on east Third south
street. However. dealers report enough
Inquiry 10 keep them from fneezing,
and are satisfied. considering the time
" year, and the condition OF the time.
Building continues as the weather VIII
admit The brick men report continuI
ales one large concern reporting the
sale last month OF altogether one and
hres-quarters million Of brick. There
being plenty OF structural steel on hand,
Keeps the wOrkmen at the NeWhouse
buildings busy, with tho iioor beams for
The tlIrl story being put into place. and
me front entrance columns up, at the
Boston block. The seventh story OF the
Railroad Exchange building is being
completed before the heavy storms ar
rive The First Baptists have notified
me occupants OF the property at the
aie of their new church 10 vacate 80
building can begin, and when they In
l-in tdcate their present church quar-
hfs Pie Crane company Siil tear down
n Old edince 10 make way Tor "a fine
N.lIll business block. The erection OF
mod iie homes continues. ana As likely
TO continue through the winter But
TON now on, until the return Of set
I.4 weather IN the spring. theme win
]" n7 mora construction OF special mo-
neu' beyond the completion OF the Rail-
l.al exchange, ana progress on the
N'N4ouse skyscrapers
HOLIDAY HARDWARE LIVELY.
ID. hardware trade reports a good
noI taF trade sprlnglng up. with people
huyIHg carriage robes. storm covers.
skates, peroolators, chahng
li.A'H tea and coffee pots manicure
carving sets. kOdaks and kodak
leh Considerable builders hard
WI, ls being sold; 20 are stoves ana
builders tools, window glass
.'h De- being used 10 large extent in
...'''f work There is Sun a market
,, tInh aud sporting equipment on
.i.. mole, The trade is in very fair con-
LUMBER QUIET
lhs lumber trade reports their lines
gul.. With little doinq. Practically.
if uo stock being moved 10 this
KY Everybody r. keeping pur-
,s down untl after the FIRST ~ the /
ii "ll is buying Just what Is needed
IN. mem going The interstate CONF /
commission o. considering tho ]
Il. i'l or the Increase OF rates which /
~. 'i'unK the attention ~ the entire |
-, go much that very little stun A.
ft. moved one way OF the other until /