Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-11-07
BUSINESS ON
A SOLID BAj Us.
- -----
Local Banks Show Effects Of
Post-EIection Atmosphere
Of Security.
CLEARING HOUSE RETURNS
CLEARING HOUSE RETURNS
Special Feature This Week is the Ex-
cess Shown Over Correspond
ing Period Last Year.

The local banks are in an amiable
frame of mind-that is. their officials
are, on account of the late presiden-
tial election, and there is q sense Of
relief and satisfaction all through the
monied interests of the country, for
they feel that established conditions
will not be disturbed to any apprecia-
special feature of the week was the
excess of the Clearing House for sew
era days over the returns for tho
corresponding periods of last year.
This is highly encouraging as II shows
how local business conditions are set
Ting down to their normal status, in
fact on a more substantial basis than
they were year ago when the fin
ancal furry set in. During the week,
there has been quietncss in none
tary transactions outside of betting
circles, on account of the election
But now the entire banking community
is ready to settle down to regular
business with assured anticipatons of
pcrmanence in the returning pros
perity
The outlook for securities presents
many favorable features. AS Henry
Clews says in his East circular. Rail
road conditions are steadily improving
and freight rates are advancing. Ar
ter the election 1t is anticipated that
rates will be more generally advanced;
the result being that with the econo-
mics introduced since the panic many
Of the roads will be in as good il not
better financial condition than before.
Our railroads are our biggest spend
ers. improvements held up few
mouths will ha ~,
larger scale; the result being Il
freshened demand for constructive
materials. especially steel, and a bet
ter demand for labor There is no
doubt but that another six months
will witness u great betterment in
the railroad situation. Another fac
tor strongly affecting the stock marked
is the continued cheapness OF money
which is likely to last until business
activity is resumed upon q larger
scale. With money at it's present
level, many stocks look fairly cheap;
and such disparity in returns be-
tween the two is inevitably Il strong
stimulus to speculation. If the market
strengthens on satisfactory cleo
ton results, as 1t seems inclined to do,
there Will of course be more or less
realizing by some of the big insiders,
who are still carrying larger surplus
lines than they desire. But SO long
asrailroad prospects continue as fiat
tering as they now are, and so long
as their, financial condition continues
TO improve there can be no serious
setback. 1t is true security prices are
high, and in the opinion of many the
recovery has been too rapid. such
differences of opinion being the life
and test of the market; but the panic |
is behind us, and no repetition need |
be expected while tho situation re- |
mains as sound as 1t present. Money
is easy the world over. chiefly because
of commercial depression; hut abroad |
as here the curative processes are at
work: and, II the patient there has
less recuperative powers than our
selves, the recovery is none the less
sure
A year ago, the panic was at It's
worst. with money quoted at above 100
per cent after having ruled at an ex-
cessive rate all over tho world. The
quickness with which the country has
from the severe blow it re-
ceived In the fall Of 1907. and from q
period OF most severe depression, Is
quite remarkable proof of its i'm
mense resources and recuperative pow
err.
LUMBER TRADE.
The lumber trade reports large buy
ers coming into the lumber market to
an extent that makes 1t bulliSh. Lum-
bernen. as class. are largely Taft
men. In fact the national lumber trade
papers have been aggressive In that d.
rection, and the trade is feeling the
benefit of the election, in the increase
almost at once of confidence. Prices are
to advance steadily. but not
rapidly. Dealers expect to see prices
as high by the middle OF the coming
year as they were year ago. The local
demand keeps up fairly we'll There
is complaint from dealers of excessive
competition. as three new yards havo
been started in Salt Lake this year.
making q total of about 20 now in OPP
Grafton. This Is considered entirely out
OF proportion to the population Of the
town
HARDWARE OUTLOOK.
The hardware trade reports a con-
tinuance of prosperous times, with COL
lectlons satisfactory. and becoming
more and more satisfactory. The farm
ers are being paid for their crops, and
IN turn are paying their outstanding
obligations. The trade says this month
ought to be good for debt cancellations,
Stoves are the best sellers this week,
With seasonabla staples going out in