Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-02-06
EASTERN CENTERS
SHOWING CONCERN
neal Financial Situation is Far
Ahead Of Conditions
Elsewhere.
COLLECTIONS ARE SLOWER,
Merchants, However Arc Quite Con.
tent With showing-A Hint of
Dame FASHIONS Whims.

The local financial situation shows
conditions slightly better than they
were a week ago, with the demand Tor
money fairly active. one excellent fea-
ture is the feeling of optimism prevail
ing. though II must be confessed that
the basis Is "a little difficult To UNDER
stand Prospects for the year are
excellent, with plenty OF irrigatiug wu-
Ter In embryo In the accumulated snow
M the mountains. With the country az
large. financial matters are little
ouiet; TO many, disappointngly so,
for activity in financial and CONNER
eial matters is not as extensive as
many men had predicted and antici-
pated. But 1t must be said that every
thing appears TO be running ON con-
sentative and healthy basis
CLEws Is CONCERNED
Henry Clews, in his last circular.
views the general situation with some
concern. Re says:
So far as trade and finances are cone
cprued affairs are al "a staudstll on
ar sides there is a disposition To- wait
Tor fresh signs Of encouragement and
Co postpone important negotiations uu-
u confidence becomes more settled.
Among the causes Of this hesitaung
spirit are % too violent recovery
after the panic. CD the uncertainty
connected with tariff revision. and t8l
the high prices Of many commodities
which check consumption and discour-
ag, future contracts. The important
Offsets must be taken into considera-
ton 0 tho prosperity of our agricui-
tuml classes, and 90 the great abund-
anCe Of cheap money Between these
conflicting Influences, which almost
couuterbalnnce each other there is "a
period of vacillatlon that may COM
tluuc until one set of forces over
comes the other. Just which will pre-
vail cannot be told at this iuncturc
but % is sufficiently plain that period
OF waiting can DO little harm; iu fact.
may do much good. SO long as tho
undCrtone remains as sound as 10 now
is
Readiustment Is sul incomplete. and
the fan in values since 1907 has not
been anything Ike what followed pre-
ceing panics. Stocks are now on a
higher level than before the panic. and
commodity prices have shown very
slight decline; much TO the disap-
p0intment Of those who complain of
the high cost OF living. Cheap money
has had much 10 do with the high price
~ stocks more uuquestionahiy than
any other single influence. The high
prices Of commodities, however. have
been due TO various causes, mainly TO
an insufficient supply OF agricultural
products, % increases in cost of pro-
ducuon resulting from combinations
% al la
tonary effects OF cheap money.
10 relieve the situation the soil should
be made 90 produce more, trusts should
stop holding up prices. ana The unions
must some day recognize that cantin-
ned advances in wages and shortening
NJ hours means higher prices and high
cost OF living. These. however. are
difficulties which correct themselves
slowly: and. because we are now upon
high level, Il does not follow tlal
we are TO face a violent descent. Il
is entirely beyond human foresight 90
say when the downward turn win begin.
An that we know is that We are still
upon too high plane, and that in the
nature Of things the pendulum must
swing back "a normal 10 is wide
recognition OF these facts that accounts
Ior much OF the conservatism prevail
ing in business circles. Yer MANY OF
the conditions necessary for a fresh
forward start are present. there is
no 0vcrproduution, finance and indus.
try are sound, the country IS sound. &C.
resources are unimpaired and capital
rs abundant An that rs wanted is
more confidence. when the farn prob
lem IS settled. more actiu y wlu no
doubt develop. but high prices are sur
90 remain restraint. especially as they
have reached level where consumption
is being notioeably checked
REAL ESTATE.
The real estate market continues 90
Improve. Perhaps the feature OF the
week has hcen the final transfer. by
condemnation proceedings. Of "a valua-
BILE location on Market street 90 the
government as site for the much
needed addition 90 the Federal build
Ing the consideration being 600
The owners of the property asked orig
nally a very much larger sum. e roe
quest that was not gratifed.
HARDWARE
Ihs hardware trade reports c0ndi-
Tons continuing substantially as the
previous week. Collections are some
what slower. This Is likely 10 obtain
until May The class of goods at
present called for includes sheet metal