The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-12-27

! Tying. Apparently the people OF Stlldi
means, the wage-earners and salariet
men. were affected by the panic less
than those of large fortunes. The mum
Der of houses built was astonishing
and all of them are in the nature of per-
manent improvements. owned largely
by their occupants. The business dis
trict also witnessed important improve
ments, but in no such measure as the
residence districts.
All of the data collected goes to show
that the price of property in this city
is based on the legitimate earning ca
pacity of improved ground-the surest
test of permanent values. and a certain
guarantee against collapse in the mar
ket. Suburban ground suitable for les
! licences is scarce, and shows more APP
probation in price. comparatively, than
any other class of investment. Likewise
il portends further extension of the
city's limits from the natural and rapid
increase in population.
One interesting development of the
year is the number of irrigation projects
completed and projected in Utah. Here
tofore. the seeker for farm homes in
this region passed by Utah. because al
most all the land that had water was
| occupied. Idaho. with its great area of
newly reclaimed land. prohted by its
advantages with what splendid results
everybody knows. Now Utah has come
| into the field with several important ir-
rigation tracts at very low prices; they
are so situated as TO guarantee a ready
cash market nearby for all farm prod
ucts the land win increase steadily in
value and the whole state will feel the
immediate benefit of an influx of desir-
able settlers on what has been arid
land.
Considering the uncertainty as to the
future u year ago when retailers We're
planning for the coming twelve-months'
needs. the wholesale business shows a
remarkably small loss. about s per cent,
or $4,000. 900 in all, as compared with
1907, when it reached a total of $54 .00O.-
600. Like all other branches of bust
ness, it is beginning to recover a normal
tone, and with the necessity for replen-
ishing stocks after the heavy sales of
the holiday season, there is every rea-
son to believe the jobbers have good
year ahead of them. The development
of territory contiguous to Salt Lake is
producing a natural increase in trade,
the Improvement in mining brings with
it an increased purchasing power on the
part of the consumers. and the reflex
improvement in the towns and cities de-
pendent upon the mines for business is
being felt in every line of trade
Retailers have probably been more
pleasantly surprised in their estimates
than any others in local business. Dur
ing the summer and fall months they
proceeded cautiously, none of them were
carrying as heavy stocks as they had a
year ago. yet the November and De-
cember business outstripped all their
calculations This was particularly true
of sales during the last ten days before
Christmas, when every establishment ia
the retail district found it difficult to
keep up with its customers and furnish
the selling facilities needed. Even in
the luXuries. such as high-class dry
goods and jewelry. the increase over a
year ago was phenomenal, in some in
stances equalng the high-water mark
of 1906.
x <
In the farming communities things
have gone well. The sheepmen have
not made as much money as in some
years, but the outlook is much better
than it was year ago. Livestock men
have done well, and since the mines re-
sumed operations the small farmer has
been getting good prices for everything
he could raise.
Altogether. the intermountain region.
especially the states Of Utah. Idaho and
Nevada, have reason to be thankful for
the ease with which they have passed
through a severe crisis. While the east
and middle west have suffered severe
depression, these states have gone
ahead on almost the scale of I906-19O7.
In some branches, particularly in the
reclamation of lands by irrigation. the
year just closed has broken all records
with splendid prospects for mainten-
ance of the same scale during 1909 Ne
vada has suffered a natural reaction
from the wild speculation of the mining
fever stage, but il has forged ahead
with wonderful strides in actual deveI
opment. Stock speculation has given
way to ore shipments, and wildcat
prospecting 10 legitimate DEVELOPMENT
OF promising claims on an extensive
scale. Notable in this phase is Phoebe.
a wonderful old camp in the early
days, and now on the way to rejuvena-
ton by operations on a big scale and
with modern methods. The territory
along the line of the Western Pacific
viii be opened up thoroughly during the
coming year, and should contribute
materially to the substantial growth
and wealth of the state. In Utah. the
new lands opened along the line of the
salt Lake Route to the southwest. and
on the Rio Grande in the south and
southeast, afford a prospect of expan-
sion that IS only forerunner Of the era