Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-02-13
LOCAL TRADING'S
ROSEATE OUTLOOK
Financial Conditions Possibly
Better in Utah Than Else
where In the Union.
NO SCARE ON PROHIBITION.
pcsity Man Receives Wires Request
ing Business Locations When the
saloons Are Vacated.

Tho financial local outlook contin-
,..s 10 be good. although somewhat
sou and there is nothing Co cause
,r. uneasiness In the popular mind.
:, g. pcrhaps true that conditions here
ar, as good " not better than those
4, any other state in the Union. j. c.
c,ger. IRIS weekly local letter says.
uysipess conditions here are better
,,,n they are IN the east, and this
ear should see much Improvement
a, nearly all lines OF trade. The In
.titutions that have been built up by
.to pcoplo Of Utah are Hike the house
t,at was built upon the rock''--solid.
os IL rule. and have good reserves. so
.,,t when the storms of depression
come The business houses are able TO
weather them. The good people of
,b. east are beginning TO find this out
and are sending money here for in
,sstment. and many people will come
hero as time goes on and bring their
means and live in fair Utah. "The
queen Of the West
ON the commercial stock and bond
market the main feature OF the week
Was the interest manifested at the
meeting Of the Consolidated Wagon &
Machine CO. when. after considerable
discussion 90 was unanimously de-
sided to help enlarge the company's
operauons by increasing the capital
stock from S1,500,OOO to S2,5OO, 900.
The new stock Of s1,0O0.000 will only
he issued gradually 10 was also de-
20 raffrn fhn pow1Vnpn stock for
preferred. by common stock paying
s5 90 per share. The reports OF the
officers showed the company 20 be in
..rellent condition. Dividends Of
per cent payable ? per cent quarterly,
for the coming year have been de-
olared.
Idaho Sugar CO. has had and the
heavy production Of sugar caused the
p-ice Of the preferred stock TO adj
vance In price and sales were made at
$3.50 and SS.S5 per share. The Anal
pamatcd Sugar co. also had a good
season and both common and pre-
ferred stocks show advances. The
common advanced TO S1S2.5O and the
preferred TO $4,000 per share. All
the SlOO. 900 worth of 6 per cent bonds
of the Utah County Light q Power
Co. have been sold and this institution
is prospecting and paying s per cent
dividends on its preferred stock. The
last report Of the Home Fire Insur-
ance Co shows a large reserve.
The banks Of our city are doing
during the panic The banks and
other institutions scattered through
out the state show good REPORTS.
BETTER CONDITIONS.
In outside matters. things are NOV
ing conservatively. vet surely toward
better conditions Mr.. Gompers claims
there are 100000 men out OF work
IN the United States, and other au-
thorties place the figure even higher.
Doubt Is expressed In the Salt Lake
banks Of the accuracy OF this state
ment. although there is no doubt that
there are MANY men idle one Of
the most interesting events Of the
week is a statement giving the de-
tailed account Of the operations Of tho
City National bank OF New York In
its new quarters. II is claimed that
this is now the largest bank IN the
world. dlstancing even THE Old LADY
~ Threa dneedle street" vclept the
Bank Of England. as we'll as even the
Bank Of France salt Lake banking
men say there can be no doubt that
taking into account the enormous ma
tional wealth Of the United states. In
'HIhlNk ~ wen ~ IN lNNNNillhi mat
trrs America easily leads the world.
One noteworthy feature Is the rapidity
with which Chicago r. coming 20 the
front as a financial center. Situated
600 the center of the richest section Of
IhD country. il is only "a question OF
time before that CITY will rank equal
with New York IN financial and COM
mDrcial imnortance. The demand for
loans locally is good with rates UNI
oh10red There seems 70 he enough
money 10 carry the situation conserv-
ativclv
VIEWPOINT OF AUTHORITY.
Henry Clews in his last circular has
thIs paragraph of Interest.
m Is very apparent that we arc
feeling the reactiouary effects OF the
panic more plainly than al any time
since 80 occurred. There is more hest