The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-08-04

to Burley, Idaho. was the subject Of
much controversy between the Short
Line and the Officers Of the U. S. Rec
lamation service, who secured an In
junction against the construction OF
the road across the Twin Falls and
Raft River Irrigation project lands;
but it is understood that differences in
this construction are being rapidly
cleared away.
During the past week, Salt Lake
City has been the mecca for some OF
the most prominent mining men Of the
country, while from this city has is-
sued a number Of important mining
announcements, all illustrative Of the
position which the city and State oc-
cupy in the mining world. Among the
weeks visitors were President 8. w.
Eccles, of the Nevada Consolidated
company, and President w. G. Sharp
and Managing Director A. +. Holden
Of the United States Smelling, Rein"
ing & Mining company. These gentle
men are engaged in rounding out en-
terprises of magnitude in which the
State Of Utah and its business circles
are directly and intimately connected.
The great mining propositions of the
State never were in better physical
or financial condition, while the de-
velopment Of the neglected coal fields
will be undertaken within the next
few months upon a scale never before
! attempted.
Generally speaking, the metal mar
kets for the week have been firm, sill
yer only showing a slight weakness for
day or two, condition that later
was materially remedied. Copper and
lead remain very strong, the production
of both metals by Utah mines being
on a very large scale, especially in the
case Of copper. Zinc prices are holding
fairly we'll, but there has been a very
material increase in zinc ore produc-
| tion during the first half of 1912 over
the first half Of the previous year,
which may operate to reduce the mar
ket price. This condition naturally
creates considerable impatience among
the local zinc producers, who are try
ing to secure what they deem ade-
quate railroad rates for such orea to
the Middle.West smelling belt.
Stock market conditions are unal.
tered. The Eastern authorities have
come to the conclusion that the two
principal political parties through their
chosen leaders will not attempt any
policies tending to disturb business,
and that a slow and thoughtful revi-
sion Of the tariff will prevail, which
ever party is the victor in November.
Yet the public is not showing any in
cinatjon to reach after stocks, and
the market is largely professional af-
fair, with the majority OF traders sat
isfied with frequent but small turns.
The country wide progress towards
enlarged business is continually noted
by the general commercial agencies.
The trade expansion, the increased in
dnstrial and mercantile operations, in
volve larger demands for money, and
the crop movement Will call for large
resources. But there is abundance OF
money TO meet all demands. Specu-
lative activity is repressed, and a
noticeable note Of optimism prevails
throughout business circles. Even the
excitement of the Presidential year has
no deleterious effect upon business.
In industrial circles employment is
good, and the iron and steel industry
continues in sound activity. Collections
have improved at a number of points.
but payments in the South continue
slow.
Satisfactory trade is reported in the
Boston wool market, though there has
been some Stacking MP in actual trans
actions. Some 100000 pounds Of
wool were sold during the week There
has been no change in prices.
The stock market continues weak,
although it has spurts of activity aud
increasing prices, but thero is little
permanent gain.
The better crop reports and the more
active business conditions. with the on.
timistic feeling which is taking place
OF the dull tendency of former months.
all "a OouJ nm. 4