Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-07-10
Bankers and Merchants Report
A seasonable Demand
Without Sensations.
BUILDING STILL CONTINUES.
tmtlaying Portions OF the City Fairly
BristIc With New Homes
Trade Conditions.

I oc,l financial matters have not cX
nericnced any noticeable changes dur
mo the week. The directors OF Hion's
savings Bank & Trust company have
reelected their old board of officers,
and the delegates to the Seattle con-
yention OF the American Institute OF
Banding have returned. President H.
!, clark Of the Merchants bank has re-
covered from a sudden illness, and
President ] e. Cosgrhf of the Cont
mental National bank has returned from
an extended absence III Chicago in the
interest Of the National Woois ITO
company The work of finishing the
Interior of the fine banking apart
ment in the Newllouse building is pro-
crossing slowly. The money market
continues regular, with demand for
money good for construction purposes
i. S. Bache & Co, of New York, In
circular letter, say: THE panic Of
1907 was out OF place and unwalranted
E by any real unsoundness in credit, The
after happenings show this Banks
that went down have all resumed or
paid up. The few large corporations
Z that went into receivers hands have
dismissed the receiyership and are do
ing a gcSd and growing business. No
railroads of Importance fellFinto bank
ruptcy, and the minor railways that
succumbed are all OF them on the eve
OF reorganization. All this shows that
credit was sound. We had only two
or three years of steaming prosperity
and things hadn't had time to get over
Inflated Another very important dill
ference between this and other large
pan.cs was TIKI: condition of the farmers.
In 1893 the farmers We're in debt. The.
farms throughout the west and south
we're covered with mortgages. They
we're held by eastern capitalists and
the east was badly crippled The re-
suit was that the farmers had to lay
down and it took q long time for the
whole country to recover. This time
the mortgages had been widely paid up
and the farmers We're rich. Some OF.
them didn't know there had been y
panic They went right on and raised
another crop and sold 1t at big prices,
The east was pessimistic, but the west
and south began to spend their crop
money, and to the surprise and delight
or the east business commenced to get
active along the farm border and the
activity is steadily spreading all over
the country. We are approaching the
greatest prosperity we have ever had in
Anarica. :"
HARDWARE.
The Hardware Trade continues to
report the situation as entirely crafty
ing. with the past June business 40
per cent better than it was for the
same month IN zoos, There is a steady
demand as for the last two weeks. for
smaller agricultural and garden imple-
ments, for fencing sheet iron, build
Ing material, the principal item Of
which is builders hardware. The coun-
try trade is healthy and steady, With
collections that could not be better, so
that easy money is looked for the cur
rent month. The mining machinery
trade is improving. SO many properties
being developed, and prospectors are
Increasing in number and extent of OPP
erations. The hardware jobbers OF this
city are establishing a good business
in eastern Nevada, where the San
Francisco and Los Angeles jobbcrs
cannot we'll compete, their Jurisdiction
being the western and southern sec
tons of the sasebrush state. The To-
cal trade has made a long and a
strong hghtto secure this territory.
LUMBER.
The Lumber Trade represents that
business with them for the month of
June past was an increase of 30 per
cent over the business for the same
month of the previous year. The trade