Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-02-08
RuS|NESS OUTLOOK
STILL IMPROVING
BANK CIearings Now Nearly APP
uroyimate Figures Of a
Year Ago.
VOLUME OF CURRENCY FULL
,.,on IN Money Circles That Nation
al Banking system is unjustly
Crlticizcd-Prices Down.

The local business SITUATION IN ger gen,
o,tinues to improve. The bank
Earrings approximate more closely to
.ho figures of year ago; and with the
.,,rn OF confidence, differences VIII
'1,sonoear. AS to the local banking
,..ation the satisfactory condition of
49,. salt Lake banks OCCASIONS crafty
romark. There is no more issuing
80 cashiers checks, the volume of cur
,o,cv Is fully equal to the local de-
lands. and financial conditions here
- Incoming more and more normal.
:. ,as been remarked in money cir
Ia that there is too much criticism
~ fault finding with the national
LING system, whereas 1t Is claimed,
.1ot the merits of the system surpass-
~ any other banking system adopted
l., this country, II gives sound and
sate currency that floats at par; 1t
bas fortified the national credit, and
through the cooperation of the govern
mont and the banks, has put out Sc
entities at the highest point of credit
IN the history of governments. Anent
the value of the system. the following
paragraph is quoted from an addrs ss
Inv Charles III. West of Columbia, $. c.;
ut is a most striking fact that while
our per cent bonds sell at 104, New
york CITY per cent bonds sell at
about the same price; the 2I5 per c. Mt
consols Of Great Britain at Sl1a: the
2 per cent consols of Germany at S217.
when we consider that England sells
her bonds at is per cent below par.
paying % per cent more interest than,
our own, and Germany selling Mt II
per cent less than par, paying so per
cent more, and New York City paying
three times the rate OF interest, one can
readily see what a strong factor the
national banks have been in developing
and maintaining our antional credit"
A private New York letter to Salt
Lake bank, In referring to general
monetary conditions, says! III great
ease in money is any indication of in
dustrial and commercial depression, we
are certainly now passing through
such a period. The reports of the
metal and steel markets state uniform
~ that the consumers OF these have
been uniformly refrainlng from buying
for future delivery. But according to
present indications. one can reasonably
expect that the time will soon come
when an increasing demand for copper
will make itself felt, and then the cop
per market will recover quickly from
It's recent lethargy. A very important
question is whether the railroads will
be in position to place their usual year.
ly orders for steel rails and new equip
ment, 1t is safe to say that the roads
are still enjoying good credit, and the
recent large and successful issue of thu,
New York Central shows that well Sc
cured bonds Will find a ready mar
ket."
The investment demand is reported
growing daily and the bond market is
broadening steadily. SO there is no
reason why the public should not take
kindly to further contemplated issues of
good bonds as long as they are we'll
secured. for legitimate wants and Of
tered on attractive terms. The New
York banks made favorable exhibit
last week. showing a gain in cash of
G67S O00-largely the result of return
Of boarded money to the banks.
RIPPLES IN REAL ESTATE.
The ripples In real estate this week
lave been the acquisition of few
Mllding sites for promised apartment
Aeuses the inauguration of the con-
Suction of the Short Line union pas
SINGER station, and the leasing of 80
Jet ON Main street, north of the Nc
Wrnlck building by local glass and
unaware firm, for so years. on which
perect a fine business structure. There
also considerable transferring OF
snail parcels around the city, mostly
nn view TO investment, where a
llluTe rise In values is promised. With
lae cheapening of building material
sno labor ana the lessening of liability
% strikes IN the building trades. there
more talk OF building. particularly in
zoe me OF apartment houses of which
ae town is much in need. There are
qulle number now, more than most
Eople realize, but they are not enough.
mere Is abundant room for half a
aozeh good sized apartment Houses, and
"e promise Is that they will be built
BETTER IN HARDWARE.
The hardware trade is feeling good
over the gradual resumption OF orders
from The mining districts for machin-
~, branch of the TRACE that was II
nthefed branch during the three
months Of financial uncertainty. But
WIN returning confidence and re-
turning of boarded moneys to the
p1nks' their natural depository, the
INNING interests al looking up again,
1 ,i mere Is resumption of opera
uons encouraging TO the hardware
maue particularly In other lines, the
Wholesale trade is picking up, though
ny' as fast as the retail trade The
ia.e o. builders hardware is lncreas-
Ivy, ,ms' also Of tools. iron nails. etc. Coun-
Wy merchants are reported as buying
~ n,~e Freely, and there la movement
~ seasonable goods that is encourag-
,ns There does not seem to be any
t tsbs.'ai demand for roller skates. so
enal me trade is prone to believe tho
NaSe Is dying out The demand for