Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-04-06
SHOWS
BIG IMPROVEMENT
local Situation Very Marked in
Comparison to That Of
Last Year.
MONEY is in FAlR DEMAND.
with Rates Prevailing About the Same
AS Last WeelS---Gcneral Outlook
Is I7latterinE.

The local business situation Is
marked Improvement over that OF one
year ago In banking circles, the
svent OF the week was the opening
On Monday OF the new Garfield BANK
ing institution by the Mccormick inter-
ests. with every promise of steaoy
rum of business, especially about pay
bay. The settlement Is growing very
rapidly, so that in tho course OF an :
,ther year, Garfield Will be quite
iourishing town. Another event IN
financial circles which also occurred
"a Monday last, was the cutting OH o.
tile overdraft accommodation. TINS
his caused considerable talk and a
varied expression Of oplnioni out WIN
tn. drift OF sentiment in favor or the
REFORM, as the overdraft system Is an
arpralous way of doing business in
which the banks are without adequate
protection as obtains In the case of a
n,-missory note. Money has been in
fai- demand. with rates about the
same as last week The deposits are
nste than holding their own. and
While the clearings ran behind early
in the week. they are now ahead
again. The fact that IL is conference
week does not make as much differ
ense with the banks as it used to,
years ago. as then there We're no
country hanks to speak of. and the
backing for the state was all done i'm
Salt Lake Now there are abundant
banking facilities all over the com
n.cnwealth-
BIG REALTY DEAL.
The event of the week in realty
was the purchase yesterday Of the
CrIsrnon tract of land southeast OF
the city, where it was proposed 10
years ago to build Westminster col
legc. The land was actually secured
for that purpose, but it was. found
undesirable to locate the college so
far from the center of town, and the
final selection was Eleventh South
and Thirteenth East streets. The first
presidency OF the Church was the pun
chaser cf the Crismon tract of 2s5
ncres for $4,000, which it Is pro-
posed To cut MP into small residence
lots for young couples particularly
who desire TO own their homes and
have but moderate resources, with
this exception there has been but lit
tie OF note done in the line OF real
estate AS one dealer says, we are
resting but the outlook is encourage
ing" One realty firm refuses to give
out prices nov. and the reason for
this Is that two of the morning pa
pefs have so persstently plastesed the
town over with s, 10. IL and 16 story
SKYE scrapers. costing anywhere from
s500,O00 10 s1-50o, 600 each. that many
property ers have come to believe
this form of improvement is to be
extended ind elinitcly. so thai when
4xl0 rods is sought down In Sugar
House, for instance. the owner with
visions of History buildings fitting
before his eyes, puts ON price that
fairly start1es the real estate man who
would buy'-but does not
But aside from all this. there is q
great deal being done in the way OF
small transfers whereby young couples
and families are proving themselves
with moderate. though comfortable
homes, These little houses are going
up all over the city IN some blocks
they are going UP like Jonah's gourd
in punches OF three to seven. This is
being done on the north bench. The
current year is certainly destined 10
witness the establishment of a record.
with the calling oft of tho plumbers
strike, fears of further labor troubles
affecting the building trades have faded
away, and as many people as can a1-
ford IL are pushing to have their own
homes. The large buildings TO go up