Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-12-21
And Vice Versa for Delay in Re-
sumption Of Cash
Payments.
THE FINANCIAL SITUATION.
New York Must Clean Up $4,000. 900
Yes-Ve Observation-Disclosures
Improving-HolidRy Rush.

week mas WlNnehheu lho usual re wal
az trade incident 20 the approach Of
ibe Christmas holidays. The financial
situation Is but little changed since
last week. While some progress Is be-
inr made toward recovery from the ef-
fects Of the panic. Il must be admit
Ted that IL Is quite slow. Everything
seems to be Ringing on the ability OF
New York 70 resume cash payments.
Whilst they have been able to reduce
their deficit OF reserve to something
less than s40.O00.OO0 from a maximum
Of over s50,o0O,O00. yet $40. 900. 600
IL quite a sum for even New York TO
overcome. The eastern and western
banks seem now 20 be blaming each
other for the slowness OF cab resump-
ton The western banks blame New
York for not keeping a larger reserve.
and tho New York banks point out
that for seven weeks ending Nov. %.
they had shipped to the western ana
Interior banks the sum Of S126.2S6.-
600. which, II they had kept, their
deficit in reserve would more than
have been wiped out.
Whilst there are some good reasons
for the pot TO call kettle black I'm
this argument. vet Il must be admitted
that the western banks have proved
upon the east to make themselves. IN
many Instances unduly strong.
one very gratifying fact is shown
from the u. S treasury figures for
Dec. /. 1907. in that there is an in
crease OF $181,s72,SS7 Of money in the
country over and bove the previous
wear. and this has been considerably
increased by the importations OF gold
during the current month. as well as
Che continued issue Of more national
hank notes. These figures seem 10 IN
oicate that what is now needed Is
more confidence rather than more
money. There Is but little prospect
nat Congress will pass any relief legis-
lation tin late in the session. and per-
haps not at all. There seems to be
desire 20 let the situation clear it.
self without the aid of Congress.
IN REALTY CIRCLES.
The real estate market has not ex-
perienced any special change the pas.
week. The only feature TO attract
attention was the recording OF 500
600 worth Of transfers by an Austrian
gentleman who has been picking up
moderate parcels OF realty which In
the aggregate made quite little
amount. The Real Estate association
discussed at this weeks luncheon the
ratiO between taxation and valuations.
10 was agreed to consider at the next
meeting a comparison between lists
~ actual valuations and the assess
ments on the same. Dealers report
considerable being done, but in a small
way The project Of street conVen-
fences. on which considerable has
been said vill also be brought up
again NJ the next meeting OF the as
sOciati,u.
Tho sd,-apt ~ vrtnter bas oF co,,rsa
reduced building operations TO their
lowest terms. In the case OF small
construction. as with moderate dwell
ings. operations will continue through
the winter. as is usual. though I'm an
abridged way. There is considerable
being done in finishing up. and the
only open construction OF note is with
the Railroad Exchange and the two
Newhouse buildings. The seventh
story Of the former structure Is now
being completed, so that the roof can
bc put on In short time. But with
the great steel buildings, Il Is a case
Of all winters work The brick men
report active business still with ma
terial going out IN many directions for |
small or moderately sized Jobs.
CARS EASIER TO GET
The lumber trade reports less stun |
moving than heretofore. almost moth. |
ing in transit az the present time.
Many OF the northwestern mills have |
shut down, for this reason, and taking |
the stand that as there is no demand !
FOR lumber 10 speak Of. there is no use
IN manufacturing IL. However. the |
trade Is looking for a revival OF bust |
ness In the spring, and mill manage
ments are getting machinery and are |
making repairs preparatory 70 active |
operations when the flowers bloom Ia |
the spring" Dealers are remarking |
that ~ is possible TO get a car now IN |
three weeks 20 80 days after filing a |
requidtion, whereas, not so very long |
ago IL required about six months
HARDWARE TRADE GOOD.
The hardware trade reports every |
thing going along swimmingly except |
in mining machinery and supplies IN |
which very little is doing on account |
of the stringency Of the times. There 1
IL great deal OF buying along Christ |
mas lines. as In sleds and skates-the /
demand FOR which has been started up |
by the advent OF winter weather. Sleigh /
bells were IN demand yesterday and /
today. Useful articles In kitchen and |
other household wares are going well. |
the prevailing moderate. NJ not low /
prices acceeratlng the outward move |
ment from the store cases. The trade /
reports steady and satisfactory sale |
t builders hardware, which shows |
something Is doing IN the building line |
MANY stoves and heaters also are hnd- !
Ing ready sale.
80 REDUCTIONS
In The wholesale dry goods trade |
reports wrong impression is prevalent /
ln the eupposlton that reductions are I
lktly 10 occur before long Ia most of /
the lines. This is denied with some I
emphasis, while the assertion ls made l
mat the great bulk OF goods are uck-
tled and no change is contemplate,
except perhaps in brown ana bleachcl /
couons. The policy of the mauufap-
turcrs seems 90 bee 90 prevent accumu-
latlons Of stocks bY either running on
short time, or by shutting down for q
while. in either case, 10 means roduc-
ton of wages. ana " the MIN help
wish 90 strike, A. viii please the man
ufacturCrs 10 see them take "a respite
from toll. JobbcrH report that spring
orders are standing without any aeri- I
Gus change through cancellations. Tine I
staple lines in Wooens were ordered /
early in the season ln large quantities /
ana at prices NOT beyond the cost OF /
yarns aud the production ~ the finish /
I'd cloths Chiffon weight cloths are /
reported in stronger request than 40 I
this time last year which has brought I
considerable business 90 the importers /
on haustes, mohnirs panamaa NnileH /
henrlctias. pOplinH and sorgcs. the can /
cellutlons have not been over % TO TO /
per cent OF the initial orders Fancy I
dress goods in wOolens and manipu- /
lated cloths have been marked down l