The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-06-26
BUSINESS AND TRADE.

| bO SlN6SS AMI TRADE.
a seasonable quiet prevails in busi-
ness circles, but the activity in building
operations continues to full force. The
huge steel skeleton of the Newhouse and
the Utah hotels, and of the Kearns
building, stand forth as monuments of
that activity; but the walls of the lat
ter are going up rapidly. The record of
building permits will doubtless exceed
for the half year any previous record
in the city. On every hand and in
every part of the city the building
activity Is in evidence, and the con-
struction ranges from the skyscraper
to the small cottage, the bungalow, the
fat and the apartment house being the
tavorites. All prove couchsively the
rapid growth of the city, as all are
occupied Immediately upon completion.
The realty market has been active
during the week; conspicuous sale was
that from Edward T. Ashton of bust
ness building site on Fifth West street
between First and Second south streets,
to William n. Korns, for $4,000. Mr..
Korns will proceed to build mod
ern storage warehouse, costing $4,000
on the property. The prospective erec-
ton by the Griffin Car Wheel company
OF Chicago of mammoth plant on its
block bounded by Fifth and Sixth West
and Fifth and Sixth North streets, is
one of the interesting reports of the
week, The big plant of that concern
IN Denver burned recently and the re-
port is that this company is to aban.
don the Denver field and make Salt
Lake City its headquarters, The plant
which it will erect, is said, will cost
upwards of 100000 and may be double
that.
Trade conditions are about normal
for this time OF year, and the increased
population makes brisk demand on the
merchants for all kinds of goods and
the banks have abundant application
for loans of their money. There is no
shortage of immediate cash, but the
banks demand tirst-class security.
The mining industry continued its
steady and rich production during the
week, The mines have and keep ahead
large reserves of ore, being able to
meet every demand made upon them.
The ore reduction facilities in the val
ley are adequate for all requirements
and are kept up TO date in excellent
FORM
One of the most distinctive features
of the week in mining was the exodus
Of several of the large copper repre-
sentatives of this country to Europe,
occasioning considerable speculation as
to whether or not there is a movement
on foot to bring about closer copper
relations between the foreign and do
mestc interests. No less striking is
the almost universally expressed opin-
ion that there must be some mutual un-
derstanding between the. big producers,
leading to intelligent curtailment of
output, before the copper situation is
relieved.
The deal by which much of the locally
held Nevada Hills stock goes to the
George Wingheld and Charles Knox in
terests, illustrates the ability with
which capital is commanded by meri-
torious Nevada mining properties, show
ing also how the mining industry OF
that State has been brought down to
the most legitimate basis in many years.
This deal gave an impetus to the en-
tire local mining share market, closing
the week with better stock prices pre-
vailing,
More liquidation Of stocks on the
Eastern markets has been experienced
through the week, the supposedly large
bear element refusing up to the present
to seek cover. The news has ben dis.
concerting, especially that from Wash
ington, and the public has not been en-
couraged TO buy stocks which are now
in strong hands. This has operated to
create easy money in New York, con"
dition, however, that has not spread to
the far west,
In the railroad field there is much of
interest. The Phoebe branch of tho Salt
Lake Route opens today, with fine
celebration Of the event to come tomor-
row.
The Western Pacific is effecting
travel organization and the general