Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-08-15
IocaI cIearings Show a Healthy
Tone Compared With
Last Year.
COMMERCIAL LINES LIVELY
Merchants Generally Experience Good
Business in Goods Called for BY
The Seasons Progression.

The clearings of the week have
,,oUn a more satisfactory growth of
80 the differences during this week,
h.,ween last year and this year, being
ruch less marked, except on Friday,
aue 10 unusually heavy transactions
~ thu same day in 1907, IT is the
..ason of the year when bank people
.re on vacations, and there is little
so,ue outside of the usual run of
,,ansactions Zion's Savings Bank &
Trust company has two new directors,
Nessrs w. a. Rossiter and l., T. Can
~ to till the vacancies caused by
.he resignation of James JaoJ5 and
csorge Reynolds, who are ~ very
onor health. The general meFhet Is
q rsported stronger following Judge
Taft's speech of acceptance the quar-
,frly report of the IT,. S. Steel Corpor-
alton. and the rumor of the Hartman
Could combination. The crop reports
continue of a favorable character The
carton is now well above normal and
many planters are picking. The gov
eminent report of recent date shows a
percentage of SO as to the condition
Of the crop, indicating an output OF
10 OOO, 900 TO 100000 bales. There
Is an increase in surplus in the as
ISOLATED clearing house banks of New
York of two and half millions,
bringing the surplus reserve up to
sl,S03, $50, The percentage hsld by
The banks was reported at 2D.59 per
cent as against 29.35 per culit the
week previous. Advices to local banks
ireu New York state that cheap
money and plenty of it is a very influ-
entail element in the present advance.
IN spite of the approach of crop NOV
Ing demands, both call and time money
sre unusually cheap, and such low
rates naturally make good stocks and
bonds look attractive as investments.
Bank reserves are about the highest
on record for this period of the year.
and the monthly currency statement
shows the amount of circulation in
the country TO be $4,000, 900,
against $2,7s1,000.000 year ago. An
Increase of over s260,00o.000 in
twelve months, chiefly in gold certifi-
Gates, is, of course, inhatlonary in
character, especially in view OF the
diminished activity in business which
tsSens the demand for currency
RISK IN THE FUTURE.
The Immediate future .of the market
contains, of course, a larger degree of
risk ewing to its big advance, and
which viii increase, IL forced, to a
higher level, which is not unlikely.
rom present appearances Admitting
the many favorable and very hopeful
conditions, II must be remembered that
prices have had a big advance, that
while stocks are in strong hands the
market Is undoubtedly being manipu-
lated fol the purpose OF unloading. Tho
Nfsent leaders have practically un
AN-itsd resources and the best manipula.
| n skill is upon their side: neverths-
Ffss prices are beginning to reach a
'somewhat hazardous level, we there
fits,
HARDWARE.
The hardware trade people are still
wearing broad smiles of satisfaction at
Ime gratifying outlook. They report
Istrong sales of binding Irvine. haying
..oos' aug smaller agricultural imple-
EHehts inc saddlery and harness trade
In n, eAeeilent---has been for a long time.
IIheh the retailers are beginning to call
toT early winter goods, such as hlan.
pes roDes, etc. There is a great trade
m builders hardware. One order alone
ror $500 being received from the CON
tractors building the L. f.. Ritter apart-
.ment house. Such increases in this
Pine have never been seen before. Win
ltr skates are being receivd, and TO the
1ncreaS Of automobile supplies there
Feems to be no end.
LUMBER.
The lumber trade is settled down TO
acceptance as fact that there will be
tdvances bright and early all along the
Pine few mills have started the
Upward movement, and the remainder
;Nlil follow suit shortly The yards are
Ifdering Immense quantities of stuff
" get In on the ground floor. thus
klaranteeing lively trade this fan.
ihe Puget Sound mills dependent on
&ne hill lines, are already complain
g q inability TO get cars. notwith-
landing the fact only a few months
go, there were several hundred thou
aha Idle cars i'm the country, and
Icy road was anxious TO shift off
nhes al empties belonging to 9TH
roads. The Hartman lines are more
~ 'tlhate. and for the present arc able
~ make good showing in furnishing
- Iae Single trade is stlffening
aA WIN dealers looking for an in
Epease In 10 days
N DRY GOODS.
49, w soous trade Is now well sup
fd with fall and winter stocks In
IA staple and in many fancy lines,
EFAch are being shipped out 10 retail
10 There has been marked i'm
Eovement in responding to orders by
mus, and by the railroads In ship
Eng goods, over the records of last
..aI The retail trade is reported by
Is,tI5 as very good. with a few ad-
[ncel shipments Of fall goods arriv-
ran shoes ara among these; all
IN sNirts, underwear. embroderles,
- trimmings, novelties, etc. But