Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-11-09
Local Commercial Situation is Of
Considerable Interest to
All Concerned.
RELIEF IS NOW IN SIGHT,
,,iiou ~ the Clearing Hou~c in I-su-
Ing Certificates solves probl9m OF
Cmr,ncy for An Purposes.

The local commercial situation is
OF considerable interest This week.
particularly in money matters In
lanNrg circles the local situation
remains practically the same. The
banks still continue to pay out cur
rency. 500 az q time. where desired.
and as "a rule people are acquicscng IN
thc necessary conditions surrounding
the present situation. The action u
The clearing house in determining TO
issue clearing house certificates. will
undoubtedly relieve the situation. az
the certificates that go out as currency
viii operate as so much money. and It
will be good money. As for the east
Crn situation, it Is boiug relieved. Some
lhink 70 VIII De only a short time before
considerable currency ~ shipped 90
che vest 90 relieve the famine. and a
large amount ~ gold coming from
alIoad viii undoubtedly get into cir
Culaton very soon In some shape. A
rrgretable feature OF the situation is
tue tendency Of people To get hold OF
ali the currency they can. and lock 3D.
up Ia safety deposit vaults This is
The same as though 10 was destroyed.
g. far as the business situation is
concerned There are undoubtedly
large amounts locked up I'm safety
deposit boxes by ignorant and umid
people Who do not realize that this
action operates 10 the injury OF the
whole business situation as well as
e. themselves. However. 10 Be- fay-
orable sign To ind that a large amount
Ct this rs being induced 90 come out
OF hiding through the premiums offer
"a In New York for currency.
hH rsf OF n.a Do
raising their rates IF discount 90 pre-
vent flow of gold 90 the United
States indicates that conditions over
the water are quite analogous to those
ootnining in the United states, But 10
appears that this action has not shut
on the entire fow of gold TO America.
because agreements are being made In
the face Of an this one gratifying
fcaWra of the whole situation Is that
the shortage II money came about by
too much rather than through too it,
Gle prosperity which has caused none
tary disturbances in times gone by.
ana ~ is quite certain II people do not
lose their heads that this situation
viii clear up C. the benefits OF all Bus
the wild cat features Of the past will
be eliminated. IL may be added that
salt Lake banks show every indication
OF absolute soundness.
tfAA = A. 4 4 III AffAANNAs
In the real estate market there r.
very little doing of any special note
Tho sale Of the Jesse Fox property ON
West Second South street Is worth
noticing, and there have been any NUM-
Der of moderately sized transfers The
fact tnat u WAS election week appear
Cd 20 operate as a damper on any spe.
cial activity. The Real Estate associa-
ton passed q resolution az It's Wednes-
day afternoons Commercial club lunch
commcndatory OF the action Of the salt
Lake clearing house In its recent ac-
lion 10 prevent withdrawal OF funds
from the banks by frightened de-
posltOrs, and expressing faith In the
financial outcome d. tivity In build
ing circles continues. as the unusually
favorable climatic conditions encour-
age %. Moderate homes continue 10 go
up over the city, but more especially n
the eastern and southeastern sections
ON one block south Of Ninth South
there are nine new houses. The brick
men say there Is no end Of material
with them. che only case where there
Is shortage being at the Railroad
Exchange building where a particular
line of brick Is wanted. and which can
not be- furnished with the speed desir-
Ell. The arrival Of fresh supplies OF
structural steel and stone from the
east for the Newhousc buildings has
given am impetus 10 progress there that
is very evident o. AN who pass by The
long steel columns are rising up Ia
the ain like spires. and the beams and
girders follow quickly New apart
ment houses are still talked OF. and
some property owners are preparing
10 erect several. They are much need
cd, and experience in Denver and other
cities proves that they are excellent In
Nestmcnts especially where slugls
dwellings are scarce and where the
servant girl problem is yet TO find
pollution. policy ~ mastery in-
activity appears to obtain al the two
Union passenger sites ON the west side
LUMBER OUTLOOK.
Tho lumber trade reports that the
rate situation has apparently been ad-
iueted 10 meet the views Of the lumber
men. There viii be "a final hearing Da-
fore the interstate commerce commits
spu within the next two weeks. and he
manufacturers have furnished inlcm-
nifty bonds TO guarantee payment in
the difference iu the rates ID the Now
rates put in force by the railroads
Nov ! shall be found regular by the
commission That the railroH. people
have been able 20 furnish cars TO the
mills 10 they really wanted 90. Is aug-
gested by the sudden appearance OF 40
tha cars desired ust previous fp ME
FIRST OF me month that Old orders
might Doe cleaned up before thf snip
ments were made under the new rate
ings The result was gene -ll lOoeen-
iur up which was healthful % the
trade as t0 local conditions. tle sltuu-
ton Is fair. and the trade as assur,
of the fact that cutie little building
win be done this winter az Soon as