Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-10-09
uonrv Clews Appears to Regard
situation as Active Rather
Than Prosperous.
I'M LOCAL TRADE CIRCLES.
,,...i,css In All lines L. Scasonablc
with Heavy Calls In Particular
Glasses.

IN the local financial market, the
,,rand for money continues good
..,ygb one or two OF the banks have
,ssed lending for the present, In or
,,r 10 maintain their cash reserves
,n.elv TO be heavily drawn on by de-
nosliors I'm paying taxes A. feature
~ the week has been the suit in the
district court by the Keyser Invest
,,,.rt company against the CONNER
l,oi National bank for 500. O00--in-
Giving the recent transfer OF assets
,o the present Continental National.
Tho answer Of the bank officials will
soon be filed and the progress OF the
sylt will be followed with interest.
Another special feature Of the week
a. the proposition TO start a National
.conner bank. the idea being 10 nold
onds belonging TO or controlled by
tno many copper interests Of this Sec
,ior Of the country; also. a proposition
sdvanced BY city and county eduCa-
tional officials to establish a teachers
hank which shall handle the savings
nj teachers and others professional ny
Interested i'm educational matters
,rbese two propositions can hardly be
said 10 be welcomed by older bank
inc heads. the ground being that
nresent banking facilities are ample
enough for an demands that may be
made upon them The new Copper
hank however. has such heavy back
Inc that Il will soon be a fact accom-
nHshed. but the teachers bank prop
osltion Is not regarded as likely 10
progress beyond COMMUNICATION.
THE CLEws LEnrER.
Henry Clews in his last circular
letter SAYS;
lously increased. and as prices have
advanced this great corporation Is Of
necessity enjoying a period Of un-
eoualled prosperity The output this
month has been record breaking. and
our railroads. after a period OF econ
omv are now making improvements
and extensions which were deferred
as long as possible The outlook for
some months to come If not a full
wear is that the railroads will be
heavy buyers of steel in its various
forms: and since they are the largest
consumers Of steel products IL rs easy
10 understand the optimistic feeling
regarding steel securities The great
rise IN the latter VIII Of course assist
their distribution. ana the immense
holdings which have boon concentrat-
ed I'm wall street will eventually hr
widely scattered. It is useless TO be-
little this spectacular movement in steel
shares The latter simply reflect the
rise Of this industry from pauper To
prince within a few short months and
constitute one more proof OF the re-
markabe vitality and mcrcurial buoy
anCy Of the American steel industry
Nothing like II has ever been seen IN
any other country. and probably Moth
ing VIII. FOR nowhere else does such
a lusty aud youthful Industrial giant
exist as In the United states.
Prosperity better term would be
adiviN--is very unevcnly distributed;
for while some industries and some
sections Of the country are enjoying
the dood-tide. there are others stiil
patiently awaiting their share. and
some are facing reactionary condi-
tons. II cannot be concealed that the
falling of the cotton ana corn crops
below expectations is distinct de-
tfiment Some compensation may be
found In the high aud very Profitable
prices which these staples now com
mand but the planter who has little
cotton Go sell ana the consumer whose
purchasing abilities are dwarfCd by
The high prices viii hardly consider
10 is wen known also that the high
Level OF prices generally imposes more
nl less discontinue upon many classes
VINO are not sharing our so-called
prosperity. Moreover, the situation Is
hol favorable 10 large exports. which
ere necessary 10. pay for our big im-
ports unless We are ready 10 send
gold COZ securities instead. II must, also.
recognized that the high price level
many articles must soon begin TO
thech consumption, if it has not all
ready done so 10 an extent larger than
supposed. Retailers are exceedingly
CAUTIOUS bon making their purchases.
h'' nelng inclined 10 be caught with
ergo stocks of high priced merchan-
use Those with fixed incomes must
''nef deny themselves MANY Iur-
uaH'' "r save less and thus join the
procession of extravaganza.
HARDWARE.
The hardware trade Is pleased 10 re-
l"'l collections as steadily Improving.
leImcra and growers generally arc
receiving payment for their crops: and
g" results boz this direction are cone
"u'nlN anticipated both during this
NUnln ana November staple goods
pr going ont freely. The stove aud
,.l,I business could hardly be- bot
III, WIN promise OF lively trade
.'louth the fan. The sale of sporting
,aN. De- exceptionally good. the domnnd
tug greater than for several years
~ hhrIy 10 continue heavy for the
+" DAYS Builders hardware ana
Z metal are still In big demand.
oularly boo this city. aud the mar
m ihls direction H. likely 10 be- kept
na sgn While favorable weather con-
LUMBER.
me lumber trade reports no special
,ttvI' beyond the car shortage.
,N grows worse and worse. and
tlu ears are 90 be had there is no
t,..F when they win reach their dos-
',oh However the members OF
mt, u'ae take courage from the fact
49, soon as the crops have been
H.,'l'd there viii De no more car
NJ 'ast and the lumber mills win be
onger held up.
t.-e landing the difficulty OF re-
t.h.,ns local yard stocks the re-
had nave been foreslghted enough 10
,,-Nt inrlr yards lar enough Ia adj
'' stand the steady depletion 10