The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-11-12

strife which is now on. 4 hearing Of
the matter was had by the arbitration
committee of the Commercial Club on
Thursday evening. at which partial
presentation Of the case was made.
On Friday evening the Utah Develop
ment League held its annual election,
re. elected its officers, reviewed the work
Of the past year. and proposed a wider
scope OF action for the coming year.
The league has done good work with
every facility at hand. and its effort Is
10 widen its influence and increase its
beneficial activities in behalf OF the
State.
Contrary to all expectations, there
was n still further decrease in the do
nestle copper surplus during OCTOBER,
as shown by the American Copper fro'
duccrs' Association statistics released
on the Sth instant. There was II
slight Increase in production during
October, hut a more marked increase
in domestic deliveries Tor consumption
and export. On November lst the
domestic copper surplus totaled l34 ,39'.-
6i2 pounds. the foreign visible surplus
was l3s,Sss,700 pounds, giving tho
world s. visible stocks at 2I3y5Sl,5l2
pounds. against the highest mark in his
tory in June, 1910, of 40l,240,oo'
pounds.
This improvement in the copper out"
look. with tho court accepting the re-
IL A To.
bacco Company. brought about the
! long-cxpected reaction on the Eastern
stock markets, and there were very
| substantial gains made in the coppcrs,
| rails and general industrials. This up
ward movement. however. can be easily
overdone. We are likely to have n
traders market for several months. one
in which the professional clement Will
chiefly indulge. There has been no very
marked haste shown on the part of the
ments during the week.
| Western metal mining is passing
through a period Of peculiar Import
| The mines are paying unparalleled diVi'
| dends, and this in the face of rather
low metal prices, vet there is practically
no new properties being opened by
! capital. With all the idle money in the
country, and in view of the magnificent
| dividend record of the producers. one
would think that men of money would
! be willing to finance new propositions.
and they doubtless will with more as.
surance regarding the general business
! outlook.
Silver made d spectacular spurt a few
days aao, going from % to 561a cents
an ounce over night, due, probably. to
the rebellion in the Chinese Empire
and the natural need of metal instead
of paper for money. Copper is some
what sitter in price. with encourag ng
demands, while lead fortunately re-
mains quiet at round SI,25 per hundred
pounds.
The commercial agencies report trade
conditions about as heretofore, showing
conservative expansion in trade, al
though buying is cautious, combining It.
self largely to replenishing depleted
stocks. An encouraging feature is, that
! there has been so much depletion OF
stocks that good deal of buying is
necessary IN order TO keep up with the
retail demand
Pig iron production during October
shows more satisfactory conditions in
the iron trade. Orders for rails for
| 1912 delivery. which have been long de.
ferred, arc now fast appearing, recent
contracts amounting to about 100000
tons. The L. 5, Steel Corporation had
unified orders at the end of October
amounting to S,694,32S tons.
The clothing trade, as is natural. is
in wooleus and worstcds. and advance