The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-01-06

alton already owned. This association
has also bought tho Amelia Folsom
property, corner Of South Temple and
FIRST West streets, for $4,000, carrying
frontage of 100 feet on South Tenn
pie street. This association now owns
700 feet Of South Temple street front.
age, including the old Cannon place at
the northwest corner OF South Temple
and First West streets.
1t is an excellent opening of the new
year, and gives ample promise of a
great market for the whole os the year.
General business in the city is very
strong and active. The bank clearings
show falling off of l7.S per cent. com
pared with the corresponding week Of
last year; but as the record of last
year was a phenomenal one. owing in
part to the heavy transfers Of the
city money to the new administra tion,
whereas there was no transfer at all
this year, it is not difficult to see that
the drop in clearances cuts no figure in
the general business reckoning. Money
is plenty, and easily to be had at low
rates of interest. The city is prosper
Gus, with a soHdity of outlook that is
vastly encouraging.
The mines of the State showed an
output the past year of 540,0S0, ,6So.9s.
and dividend record of S5, l50, 400, It
is true, however. that considerable
portion Of this product, especially Of
the $9,735,073,92 of it which was gold
came from Nevada; but there is no way
TO get Mt the exact amount. The min
ing operations of the State are pro-
ceeding on an even greater scale the
present year than last This is mani
fest from the great deal at Park City,
whereby the Ontario and the DAILY are
absorbed by the DAILY West, and also
by the vast operations N Bingham,
where whole hills arc being stripped of
their surface earth and are found to
be masses of workable ore underneath.
1t is evidently to be a year famous in
the annals OF mining in Utah.
The railroad situation continues in
the highest degree optimistic. The
Western Pacific is pushing from and
TO the coast. Its line is constructed al
most to the State line, west from this
city, and it is doing energetic and rapid
work in the heavy grades and tunnels
Of Feather River canyon and Beckwith
Pass in California This line will
doubtless be finished through. between
San Francisco and Salt Lake within
two years; ii is pledged to be done by
September |, 1908. And when it is com.
plcted. it will be immensely to the adj
vantage of all the transcontinental lines
TO be here to meet and get the ad-
vantage of the choice of routes which
Los Angeles road offer, and of the
longer haul for their own lines.
The State at large is prospering from
the great output of the mines, and from
the excellent agricultural season Of
1905. The beet-sugar product has been
especially rich and profitable, The
yields of all farm products have been
large, and the prices abuormally high;
especially is this so of wool. The re.
suit is that the farmers are in funds
generally and money is more largely
and more widely difTused than ever be-
fore.
In the country at large, the rush
employ Of industry continues in full
force There is much pressure in the
steel mills both for railroad and for
structural purposes. Two Western roads
are reported TO have in orders for 90
600 tons of steel rails for delivery in
1908, and the orders already IN for this
year insure an active demand for all
that can be produced in 1907. The car
shortage continues, and there is great
complaint all over the country Of the
scarcity of coal. Building operations
continue on an extensive scale, favored
by the mild weather. Copper is firm,
with a premium for spot supply. Bust
ness failures are below the average
This from the Iron Trade Review is
significant of the feeling in iron and
steel circles:
,,A a retrospect Of southern Pig iron for
nihcnnt fact OF value is that buying for
delivery In 1907 commenced ahou; the
middle OF August. y steady upward trend
OF prices indicates that a good tonnage
has been booked. This being of record
II must be apparent that the year 1907
begins with furnaces in strong position.
An additional fact Is that buying for
the second half OF 1907 commenced In
November of 1905 This suggests that
furnaces Will he prepared 10 resist a de-
cline in prices for long time even under
a falling OFF In demand. Another fact
which strengthens the above suggestion
ia that at the beginning of the year tho
market declined only one dollar per ton
after campaign of buyers holding off
for about six months.
The immense payments IF dividends
and interest in New York the past week
have cased the money market there for
the present and stihed the clamorous
outcry for more money. Sentiment on
the street has turned 20 the buying
side. and stocks are in demand as in.
vcstments The feeling is Of the best
optimism, with confidence in the flu
ture that is in itself q strouC factor in
maintaining the best possible and most
favorable business conditions.