The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-12-24
BUSINESS OUTLOOK
IS REPORTED GOOD
Despite the Presidential Elcc-
ton, 1912 Will Open With
Fine Prospects.
OUTLOOK ENCOURAGES
Large Percentage of All In
duStrial Firms Are Well
Engaged.
OUTLOOK ENCOURAGES
BY PRESTON c. ADAMS.
~ Leased Wire TO The Tribune.

| NJ" 1OiSh. Dec. Eo.--Juet now, OF /
course. business in su lines Is dull, and
will be FOR a week or two. The holiday |
| trade is over. and after the holidays
there will come stock taking and the
| clearing away for active business OF 1912. |
This means. OF course. that business from
now until the middle Of January Will be |
practically at the stands,ll
| In figuring on the business or 1912 II |
is impossible to leave politics ont OF the
equation. y survey OF presidential 1
years OF the last half century shows, I
however. that when presidential cam |
paigns have involved Issues OF great mo- |
meut 20 business, and the outcome has \
been in doubt, or so long as 1t has been
| In doubt. business and stock market I'm /
provement have been exceptional The /
rulc would be to expect the contrary. The I
present Issues Of politics are OF so vital |
a nature 10 business 10 make tho !
political year which ends next November |
| OF almost unparalleled Importance since
| tho Civil war.
There Is certainly doubt enough about !
tho outcome as regards parties and per |
| sons. Whether or not doubt obtains as
| to tho way in which tho issues are 90 I
| be settled. for what policies tho people +
approve programme OF constructive /
radicalism or conservative progressive /
ment Il seems to he the idea that poll !
| tics will be impressed by the general de !
sire OF business Improvement and e1pec- |
tation Of 1t TO conduct political debate
away from radical measures.
I There is a disposition. therefore, To
look for an unusually good year foc |
presidential year.
Industrial Firms Busy,
Operations of the various industrial
corporations OF the country continue on !,
a basis OF about 10 per cent Of capacity, /
Certain branches OF business report full ]
operations, while other are considerable /
below the average OF 30 per cent. The |
steel industry OF The country continues TO
hold around 80 per cent OF capacity. The |
volume of new business has Increased 10
10 10 per cent over the last three weeks,
and prices are shade firmer. However. |
the margin OF profit on steel and iron |
products is smaller than 1t has been In !
years. and the Increase in business has
not been followed by corresponding in |
crease in income. The fact that large |
consumers OF steel are endeavorinG 10 |
close contracts for material on a basis
OF present prices for future delivery. |
gives sufficient basis for the Impression I
In consuming and producing circles that !
prices have about reached bottom.
The copper industry over the last two I
months appears TO have emerged from /
Its long period Of depression. In this /
country and Europe the surplus appears
weeks consumption, The figures for No"
vember were encouraging in the extreme !
Copper producers appear confident that !
the industry has turned for the better |
decrease IN surplus stocks,
The dry goods trade reports Improve |
lnenI. WITH an increase III the percentage
Of active mills. The demand for goods
also shows expansion.
West Leads in Building.
The equipment situation Is better than !
| II has heen in a year, but car buying |
has resulted in no sharp increase IN op~ |
eratious. The car companies arc opcr |
atinG between 55 and 50 per cent OF ca |
pacity but at one time during the year |!
were on 30 or 20 per cent basis Car /
purchases over tho last two months aE
In IN 000 and with lrT
buying Of consequence the equipment /
companies carly next year should be OPP !
EuildinE operations throughout the ,
In the cast has been offset By Increased !
construction in the west.
business. While no new electrical high |
records are being established, the vol |
| une Of incoming business Is not far from
what il was a year ago. This Is n good /
showing, when the absence OF large con- !
| tracts is taken into consideration
One prominent manufactures who
situation figures that the improvement /
| in general business in November was
equal To about 10 per cent The Increase |
| has not been accompanied by material |
sentiment in business circles is. per- |!
haps. better than it has been at any
With n degree Of confidence not notice |
able two wears ago. II nothing develops !
! TO create disturbance. business men be
| Iicve this confidence will grow and, by !
the spring OF next ycsr wheels will bc !
| turning and there Will he less idle la
Dor.
Stock Holders Prosper.
According TO a compilation made BY |
| Mining and Engineering World. the |
eleven months OF the year have been
profitable 10 holders OF stock sanely opcr
al's By mining nrGgfg5f to IN The @H[Ga
| hursements were i4e companies. ll2 oper-
stinE IN the United states, ~ I'm Mexico. !
| Il ia Conoda and I in Central America |
| The total disbursements OF these lI9
companies including the November dec |
] Ia ~ tons. reached the enormous total is
| equivalent 20 4 return OF 10T pcr cent or
| approximately q SIS. .0on. 900 IN excess OF the |
! outstanding capital.
! One OF the most interesting tables IN
] the annual report OF tho comptroller OF
tho currencv is thar showing Tho dis'ri-
! button Of loans according 10 security. !
! The total on collateral security. assrc- |
/ eating demand any time loans WAS never
! so great in the history OF tho national I
banks at the date ot the return last
! June. which the comptroller uscs for 1911 /
! ir order 20 make comparisons with pre-
/ c-dng Years. On that dav the amount
Of loans on collateral pss S2.nIl 600 400 |
/ have not diminished since then. despite
| the liquidation In tho summer. The juno
! figures MAKE N"rN excellent shovinG
| for thc year in which speculative and in
| veStmeut enterprise was supposed TO oc
| of modest prctc0sIous
Daniel Willard. president of the Rslti-
I moro A ohio. aud probably ono of tho
/ closest students of railroad economy In
! the couutry. estimates tho capital needs
/ % American transportation lines In the
! usNt five vesrS st $500 ono. 600 per an.
/ mum This r. half the amount which
, James ! Hil sstd would 20 required. For
/ ncp facilities alone last fiscal ysar the
! Baltimore & Ohio spent over So .0oO, 200
! ~ tho same rate this would h9y" meant
| an addition n nearly fi.i0o.oo capital
/ on tho 2i5.00N miles ~ main line in this
/. country. Mr. WiDard's inquiry as 10 how
/ this money csn bo raised unless railroads
! have fair treatment ir understood 10 bN
/ also pertinent 70 tho inJrfrirs made bv
members of the fTsdiov railroad comu,s-
/ sion
Mail Car Burned.