The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-04-10
BANKS DOING HUGE
TRAFFIC IN LOANS
Demand for Money All for Le-
Ultimate Purposes Such .
as Construction.
OPPORTUNITY FOR EAST
CAPITAL CAN FIND SAFE INVEST
MENT HERE.

The local bank clearings for yesterday
amounted TO $l,l3l, 4S7.l7 as against 81 ,231.-
S3Z0i for the same day last year, a de-
crease for yesterday Of S99, S44.S7. For the
week the clearings amounted to 81, S22
sJsSt, as compared with 81 050 s34 &c for
the corresponding week last year the de-
crease las week amounting 10 $751;
52G23
The demand for money in local banking
circles Is The heaviest In the history Of
SAT- Lake. A feature of the situation is
tnat the demand is entirely for legitimate
purposes principally for real estate and
building, Tor manufacturing live stock
all OF which indicates a solid and sub-
sta initial growth
So great is the loan demand that the
local supply of money is entirely made
quaJe 90 meet the requirements The
situation has reached a point where
eastern capital, it is believed viii be
available for local purposes. Several
large eastern firms, 1t is reported, with
agencies IN Salt Lake, stand ready TO turn
over volume of money for local building
and real estate purposes. so that any
stIlngency which may exist in the local
money market will be but temporary.
A number OF Salt Lake people have been
somewhat annoyed and financially EN-
barrassed by the failure of the Eureka
New State bank. and as a result there
Is little suffering. The city school
funds were deposited in that institution
and the teachers, as a result, have been
forced to wait for their pay.
Notwithstanding the apparently tight
ened money situation the outlook is un-
usually bright Good business and bum
per crops are freely predicted. and while
II is still a little early TO predict as to
results. because Of the uncertainty of
frosts, the fruit crop should be an I'm
usually heavy one.
The past week was a flourishing one
for the dry goods trade, both wholesale
and retail, due, in the main. 10 the great
influx OF conference visitors. Wholesal-
ers report a gratifying trade, although the
tightness of the money situation m the
country banks had q slight tendency To
somewhat restrict large purchases
Double sheeting. which recently dropped
three cents a yard, has recoVe cred q cent
of the loss. which has lad the effect of
somewhat stimulating the market. Dress
goods, especially summer fabrics, were
In good demand. and there has been a
steady call for vOiles, Examines and mo-
hairs, especially for suitings and in the
light weight serges.
On fall lines the market IS somewhat
quiet, the demand having fallen off but
wholesalers are cOntenung themselves az
present In watching and waiting.
A marked Improvement was noted in
the lumber trade, due to the ability Of
the railroad to provide more cars for
transportation and relieving embarrassing
situations, which local contractors and
dealers found themselves facing. There
has been an increased output by the &C.
ment factories, but the supply is still un-
equal to the demand.
The hardware trade has been brisk, the
demand being principally for farm and
garden implements, forks rakes. lawn
mowers, hose, and refrigerators galvan-
lied ware and sheet metal products.