Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-03-07
WEATHER IS GOOD
FOR BUSINESS
While Some Lines Are Affected
UnfavorabIy by Snow, All
Benefit in the End.
DULL AND QUIET IN NEW YORK
Financial Observers Evidently Over
,ool, Great Agricultural Industry
The situation Locally.

The week has been one of satlsfac-
ttop "a the agriculturist, and some
lines Of city trade, by the advent OF
The heavy snowfall of Wednesday and
,rhursdoy. And while some lines of
business arc unfavorably affected. at
present all viii be benefited In the end.
In financial circles, there is little doing
locally of special mention. The bank
clearlngs continue to run just about
So far behind the figures of last year
with the promise of pulling up even
within the next 80 days when spring
opens. From correspondence just re-
ceWed from New York, it Is learned
that the past week was dull and quiet
though some activity was noticeable in
metal shares. United States Steel cor
poratlon. American Smelling & Refining
company and National Lead company
shares made better showing than
for some time past. This was due TO
the more encouraging reports received.
There has beer considerable purchasing
Of copper for European account. while
further orders have been given by the
railroad companies for steel rails. The
metal business was the first to feel the
signs OF depression and the first to
foreshadow Improvement
IGNORE GREAT INDUSTRY.
Local financial observers claim that
during the period OF depression, Wall
street apparently ignored ono OF tho
sustaining forces of the country, and
forgot that practically one-half OF the
population of this country is dependent
upon agriculture for a livelihood. No
one can tell how far trade reaction will
run but 1t Is certain the productive and
purchasing power of the farming class
should remain undisturbed. having had
several years of great prosperity and
having little felt the recent Uanic.
The present outlook for this years
crops is excellent. as there has been an
ample supply Of snow covering the win
ter wheat belt. and trade Journals
speak enthusiastically of the conditions
OF the winter taken as a whole. Rail-
road reports continue To be poor, par
ucularly that of the Erie for De-
ccmber. which showed a decrease of
S6sOO00, and for the last six months
OF 1907 net decrease of $500, 900
The bond market has been colorless
ana dull, with the most important of
the new offerings s2,500,000 In Chi
cago Railway company first mortgage
SIS and $3,00o,000 b. &, O. one year
per cent notes. The prices at
which these offerings were made H.
lustrate that investors must still be
tempted by liberal interest returns in
order to induce buying in any vol
unie.
The unfortunate experiences of not
few banking institutions in the
country of late have induced the
American Banker TO remark:
1T is necessary to call the atten-
ton Of depositors and n-deposltors
10 the principles of banking Tell
them what the banks mean 10 the
country as a whole and to them indi-
vidualy. Help them. Show them
that banking is not a money making
scheme, recently invented By male
factors" to deprive the workers Of
that which they have honestly earned
Once let the public appreciate the
fact that there is a fundamental prin-
cple involved, clean and strong. and
tue, and 1t will take more than pol