Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-08-10
"FIurry' on Wall Street Has No
Effect Upon Salt Lakes
Trade
BECK'S, FEATURE IN REALTY.
Market Tor All Kinds OF Commodities
Continues Unexcclled--Fall Ship
mcnts Coming In.

Qulet, Wluu the recent STOCK hurry IN
Wall street having no further effect
here than the interest taken by the few
that held stocks affected by the furry.
Rates of interest are unchanged. Local
bankers report n topic of interest re-
Gently in the statement of the United
States Steel corporation for the June
quarter. showing the largest quarterly
earnings in that company's history; but
in conjunction with this report, a dec
laration was made as to the falling off
OF the July orders as compared with
the same month last year. amounting to
rs per cent. This with the reduction of
iron prices and the uncertain copper
market, has been seized upon by the
bears" to hammer down prices gener-
ally. A disquieting factor was reported
In the shape of the government cotton
crop estimate. an Improvement OF per
cent in three weeks, which caused the
cotton market TO advance sharply The
grain rop outlook continues favorable,
and ii Is believed that less money will
be required from the east TO move the
crops" this year than in former years.
Storage facilities have been provided
for farm products. so that growers can
hold on until they see fit to send their
crops to market. So the crop movement
can and is spread over the whole year,
calling for less money to be shipped at
the beginning OF the movement. Per
contra, it Is claimed that as long as
prices of commodities are at their pres
ent high level, growers will market
everything they can, and thus call for
even more money than they did In
former years when the prices of their
staples were on a reasonable basis.
BECK'S THE FEATURE.
The feature of the real estate market
this week has been the payment of $780,
600 for 40 acres of ground at Beck's
Hot Springs. by A. Fred Wey of thus
city, and James Breen OF Helena. This
valuable property was taken by the
lions Savings Bank & Trust company
on a foreclosure some years ago, and
several attempts have been made to pur-
chase 1t since by eastern parties; but
they failed to carry out their announced
purpose. One bugaboo or another
frightened them off. However, the
present purchasers are not afraid of
bugaboos, and have secured an assur-
ance of half million dollars and in
tend erecting great hotel of 200 rooms
UP on the bench, the construction Of
vapor caves, the building of plunges.
and the remodelling of the lake and
surroundings. with the planting of 500
trees. AS James Breen is closely as
ISOLATED with Heinze, 1t is believed the
latter is the one who will furnish
the needed capital for the building up
OF the new resort. Consequently II
will be "a CO."
Real estate dealers report a good
deal of small selling for moderate
homes. which continue to be built all
over the city. The brick men are not
receiving any complaints, as they are
able now to take care of anything
hut al n
cal market appears to be in pretty
fair condition. Work on the site of
tho new Short Line depot continues,
leaving conditions there in a rather up
set shape until building operations pro-
grcss little further.
LUMBER PICKING UP.
The lumber market is considered as
picking UP and In an encouraging con-
dition Dealers are beginning to doubt
the actual intention of the railroads to
advance rates. as announced, on Oct. J..
II is freely prophesied that the amount
of friction sure to be generated between
the lumber interests and the roads In
consequence of the advance, IL made,
viii evolve so much heat that a way
win be found for recalling the increase
in tariff. The Oregon lumber manufac-
turers have decided to resist the in
SleasS ~ lIctbHt I"eoS W iu'''cN. s"iP
ments TO Mississippi valley points, and
an assessment of $40 for each 1000 feet
of a days run of 10 hours on all lumber
dealers was made to defray the eX-
penses of a possible contest With the
railroad companies. Committees were
also named to direct the fight against
the roads. 1t was estimated at recent
meeting that lumber shipments from
the northwest, TO points east or Poca :
iello and Salt Lake city approximate
2,500,O00,000 feet annually. This means
an additional toll Of s5.oOO.oOo. tribute
considered altogether too excessive.
,n,>,c .cr,,rr,
pDii1iN"
Local dealers report the outlook here
nothing TO complain of. with prospects
OF building steady, though for the most
part In a small way. Lumber has been
contracted for Q cottages to be erected
on tho bench to the northeast OF the
city seven cottages are 10 be built In
a bunch In the southeast section, and
after the tangle over the bids for the
Brunswic,, aport,nents mas been settled,
large orders VIII come from tna ,a, a'a and
labor win continue, dealers report, un-
chang D. for the remainder of the yeai.
The hardware situation continues
strong and firm. There Is steady
and growing demand for automobile
supplies and furnishings, with the In
crease in the number OF cars I'm this
city. There is also an increase In the
sale of bicycles and bicycle supplies
MS the racing season Is on In. full
blast. A good demand is reported for
hammocks, mantels and tilin. and
builders hardware of ali kinds as
the building of houses continues with
evan marc qtranpa In cav there arc