Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-12-12
WEEK END SHOWS ]: Y
BUSINESS: ! FIRM.
-------- -7-----
Healthy Tone Prevails Without
Any Undue Ac-
tivity.
THE HOLIDAY TRADING is ON
scasonable Squirt Is Especially Notice
able With Dealers III Womcn's
Wcar--!TI,c General outlook.

satisfactory. Money is in sufficient
yolume to take care OF local Gus
Aomers The rapid development OF
the banks of Salt Lake City which
can only be partially cared for. There
is probably no section in the country
In the west that bids fair to become
more important than the Snake River
valley. There is sure TO be consid-
which will ultimately sustain a large
population. On account Of the con-
tiguity to Salt Lake in the business
and financial sense, that territory Will
continue to pay an important tribute
to the banking interests of this city.
Already number of new banks
have been established in the Snake
River valley, and in some cases fin-
anced by Utah citizens, and the pro-
liabilities are that as a need of banks
develops citizens here will avail them
selves of the opportunity thus afforded
to tie up the projected bank to Salt
Lake interests.
There was probably never a time
when the general interests of the
state were in such volume as at pre-
sent, With promise of growth III cx-
tension Indefinitely, so that the bank
Ing interests of Salt Lake Will become
strengthened and developed as the
years go by and will occupy d high
position in public esteem for sound
ness, conservatism and stability.
cLEWss LETTER.
Henry Clews in his last circular
letter on the general banking sltua-
tion in this country says:
For some time past it has been
evident that the rise in stock had
been excessively pushed. The big
trading element. which now carries
a much larger share Of floating stock
than is generally supposed, showed
no disposition to enlarge its COM
mitments on the long side: while the
investing and speculative public, pro-
fitting by past experience, could not
be induced to absorb any important
portion Of the stock offered by the big
holders, who have been energetically
lifting the market ever since the
panic. Along with this cessation Of
home buying cam free foreign selling.
London openly encouraged realizing
upon American stock. and conserva-s
tive foreign bankers have been very
explicit in their disapproval Of our
slpCA llldIhe IusiillpuldllUllS. 10 CIelIU
clionts they freely expressed the
opinion that tho rise in this market
had been altogether too rapid and
out of all proportion to the improve-@
ament in business conditions on this
side OF the Atlantic. In consequence
there has been return of American
stock and bonds at O considerable
profit to the foreign holders and on
a scale not witnessed in many months.
1t SO happened that some Of our own
leading bankers held similar opinions,
though possibly from different mo-
tives. They had no desire to see
another speculative debauch such as
preceded the collapse Of 1907; be-
cause they recognized that a second
postpone recovery, but might invite
wider, deeper and more lasting
depression than the first. Moreover,
last years violent arrangement of
credit had brought to an abrupt
standstill many of the extensive rail-
road improvements rendered impera-
tive by Inadequate transportation
ties there was q most urgent demand
which would not be satisfied until the
money market and the security mar
ket admitted of fresh capital issues
which had been temporarily suspend
ed. 1t Is well known that our rail
roads must now come into the mar
Ret with many new important is
Sues, which would not be successfully
tloated in an excited and dangerously |
high stock market. All conservative
forces, therefore, were united in dis
couraging speculative furore,
and it is to be hoped they Will |
succeed. oven many Of the specllla-
tive leaders have wisely moderated
their effort to force prices to high
er level at this time, recognizing
that it is more prudent TO wait until
the present level has been Well es-
tablished or until further improve
mcnt in conditions warrants still bet |
ter prices.
REAL ESTATE
There is little doing in real estate at
this time of year. although thorc are
exceptions. Plating of new additions
Will be planned during the winter, to
be consummated in the spring, and |
dealers anticipate a heavy trade with |
tE.e return of aettled spring weather.
Many small properties are changing
hands, and there is a tendency toward
n steady appreciation of realty values.
There are more houses to rent now
than there We're a year ago, as the
big apartment houses are finished and
people are rushing into them. AS fast
as these houses are completed they
fill up. and in cases, tenants are not
for entire completion, but move
IN anyhow. There is II likelihood Of
there being many more apartment
houses started in the spring.
HARDWARE.
..,G hardware trade repors condi-
lions about the same as last week.
With sales keeping up wonderfully Well
better than were xpected. The de-
nand has been along the miscellaneous
general line OF seasonable staples large
with generally improved conditions
Iobbers report continued sizeablegfu
.ure orders for tie spring trade. in
Heating there Will be Il fine business
as the spring opens. There is con
demand for sheet metal and
in plate, so that it is difficult to keep
,n hand the necessary supply. The
of many buildings In con-
during the past few months
S responsible for this, as well as for
he steady demand for hardware used
N interior finishing. The mining ma
,hinery trade is increasing. There is5a
noted Improvement in this branch of T.
he business in Bingham, Beaver and
ely
LUMBER.
Thel lumber trade reports business
bout the, same, with no trouble TO get
,ars. In fact dealers say that there
las not been Il time in 10 years when
,arS were 80 lSy TO pei in tlla4nOrth- T.