Show j UTAH FORGES M FORWARD ARD IN INT INi i r ir r T i FALL TRADE Wholesalers Report Better General Business Than at Any Time in m n Four Years F r CLEARANCES PILE UP UPComing UPComing Coming of Packing Indus Industry t g Expected to Prosperity Pros Pros- m in This State BT E havo o better bolter business In Utah P WE W th this fall In ln all lines JInes of or whole whole- P salo halo than for many years Compared with a n. year car ago it Is IH wa way ahead It 1 Is just lust a matter of ot getting P tho goods There Thero are arc plenty of oC customers cus- cus standing standing- ready to tako tho the goods of oC four hands as aa soon oon as wo we can n tret Ket ot th thorn them m ourselves es from tho the manu- manu or bl big blk Job Jobbers of oC the tho east cast too we c find better botter than t er Tho Tho foregoing comment was mn made o bo by tho the head of oC one of ot the leadIng leadIng lead lead- In Ing Salt Sut Luke Lake wholesale houses In answer to questions relative ve to business business busi busl- ness S among tho the who fur- fur tho the stores stares In the smaller towns to of oC tho the Intermountain countr country In Salt Lake Latta tho tiro bank clearings each e da day and week continuo continue to tell the stor story of bl bigger cr business In figures compared tho the corresponding days dayn and weeks or of la t year The Tho banks continuo continue sup sup- with more money monc than normal J and where the security Is adequate 1 there Is II no lon longer clr n a dearth of ot necessary for tor almost an any kind of ot a IE legitimate mate enterprise t Tho Iho final announcement of or tho os- os of ot a n 1 packing plant pl yon on the northern outskirts of ot Salt Lake was made ho past week wh which Ich Is con- con ono one of ot tho the most important com- com w m steps taken In tho the In a tJong long time Tho company will give o permanent Employment to a small army of 50 to SOD mon and ami do an annual of It Is 19 said sold In ilvo years year's It IH 18 thou thought ht th t tho the busl- busl ness ne i will b be moro more than doubled It will furnish a quick cash m market at top tol for tor forr much of ot tho the surplus live a stock of ot Utah as well aa as bring tens of ot thousands of ot head had of ot sheep cattle and hogs from adjacent nt states s. s Heavy y sugar b beet ct yields Ields arc reported from a s veral r coons of or tho state sute this thas tall For Faa Instance near Lehl Lehi th the tho scene of oC the building of or the tho first beet sugar sug-ar factory In tho re region region re- re gion about 00 60 per Ier cent of ot the crop had been harvested last week Somo Some ot of the ground at Saratoga Springs s produced pro pro- du d up to twenty seven and possibly thirty tons to the aero acre At 5 50 ro a ton this brings tho Uto farmers approximately lof an acre gross ross on ou this exceptional ground Twenty tons an acre aero has bas been cro aro Nn on a number of ot tho Lohl farms The Tho t harln content In the beets beet this thin fall all Is la said to be bo very good com com- I ly This ono one L Lehi hl factory II isnow Is noW cutting from 1000 to 1100 tons tOM of at I beets every twenty four hours e O General en nII Condition tt 1 As tn to conditions In business bustness and ond finance the he nation over tho the Doston Boston News nU Bureau au says While our progress among the tho na ruL- tlona of ot tho the world has tx been n stupendous wo we must peep keep In mind the tho change chango which the end ond of ot tho the war will bring If It our gain n Is to bo be maintained w we e emust must bo prepared to meet the conditions condi condi- as ns they arise In tho the broadest manner possible and without any prejudice toward tot elthor either capital l or la lo- lo bor bar Today fundamental conditions are In tho the main favorable fa that ls IB 18 so 80 far is ss our volume of ot trade profits proUt and nd wealth are aro concerned But wo we are aro liv liv- log ing at a n. tremendous high cost a 0 situ situ- situation situation atlon that Is 18 extremely dan dangerous rous We Weare c arc are working under extremely high pressure pre pres I sure and If It any trouble should develop do with the tiro machinery there thero might bo be I serious trouble The security market acts nets wonderfully wonder wonder- tUll fully well everything considered Values Val Val- alues ues arc aro still back of ot prices so that tho the investors investor's position scorns acorns especially strong Speculatively the tho market Is probably robab fairly safe so long as conf- conf lenco continues But one ono must re remember that loans Joans sro ro phenomenally large that wo we are aro m to n a n high h level Jovel of or prices and that thiat nn any levero catastrophe might mako some somo ler cry uneasy moments Thero There Is no fear feir expressed however In tho the b best Jt bankIng bankIng bank- bank I Ing circles Labor and car cu- shortages es apcar ar to bo be two 0 of the tho most Important factors In I tho business situation today toda and arc aro responsible In largo lars measure for the I cr very high and rising prices of or man many different commodities Coal both bituminous and anthracite has beens' beens been hlen so s' s ring some somo sen sensational advances recently re- re re recent cent At Mystic Wharf Boston bi bl- bl I bl-I n I 0 ca coal 2 la Is now C quoted as high I as 10 J as tw M iv LV a L ton tun against a h normal normal price ui or of i about Anthracite coal coll has adan adan ad- ad an e ed to almo almost t prohibitive levels at I 1 j retail in somo some localities Labor short short- 1 ago o and higher wage wago cos costs account for tor I f some of ot tho the increase e but in lar largo o measure meas- meas i uro ure It Is due to Indus Indus- Industrial Industrial Indus Indus- trial activity and lack of ot adequate transportation facUlties facilities both by land II I and sea 1 No less remarkable than tho the situa stua- I tion In coal are arc tho the conditions in the Ule I leather leathor market where there Is something some some-i I thing al n ak n to a n famine Leather prices races r rare are still advancing under the im impetus i of or a heavy foreign demand and the tho be be- lilted buln buying of or domestic shoo manufacturers manufacturers manu manu- who became somewhat alarmed l at the condition of ot affairs and were cro forced to provide for their re requIrements requirements requirements re- re regardless of ot cost The Tho natural outcome of ot course Is a continuous continuous con con- advance In shoo coursol pr prices Tho The woolen and worsted mills are arc running full Wool prices aro are high but these like like- 0 the prices of other commodities commodities com com- are arc duo to tho the present abnormal abnormal abnormal ab ab- ab- ab normal conditions Cotton goods mills are running at capacity and they have no finished goods for spot delivery Buyers mu must t therefore content themselves themselves them them- selves with making future contracts In fact tact it Is now the buyer who vho is urging business and not tho the selle seller The rhe Cl Report Henry Clews Co says It HIt i j IS fortunate fortunato that caution Is being be be- ing displayed in banking and other T conservative circles Otherwise with I tho the e ease case e that Is BO so clearly evident e in inthe the tue til c credit situation there would be lit dif I In preventing the danger of oC a runaway market Thoughtful persons know that with the tho intense activity in trade trado and industry with the tho high wn wares wages es and antI tho consequent enormous spending power of ot labor Jabor and antI with the tho largo large profits of or manufacturers all these aro are merely the results of tempora temporary nT conditions conditions condi condl- I lions that sooner or later Inter must must mast assume I a n. more nearly normal position The Tho commodity markets as well aa lS securities ties tics are aro still moving upward So long longas as the war lasts there seems slight probability of ot a lasting reaction as ns the foreign demand regardless reg of or cost is so 80 Insistent It Is difficult to see seo tho the end of this increasingly ly difficult situation situation situa situa- tion that so 50 freely treely affects conditions at nt home New cw enterprise is la active the wars war's demands still being a n strong stimulant In this direction During October new companies to produce munitions manufacture manu manu- facture dy dye companies and chemicals operate shipping companies and develop oil ell andas and gas as resources were ere formed with an aD aggregate aggregate ag ag- ag ate g capital of bringing tho total of capitalization for tor these and similar companies to a total of ot close to OO during the tho war period Railroad earnings s still are highly satis satis- factor factory Comparisons however now no are aTe boin being made mado with a period of a ac- ac Hence the same spectacular in increases increases in- in creases such as havo have been the rule when comparison was made with the lean lenn year car of oC 1914 are not to be ex ex- ex The market marlet for Cor securities may be expected r c e to witness nc s active ct vc fluctuations u s. s with a general trend trena governed orne l b ny by the ino tendency toward credit t inflation Large I Interests will pursue tho usual course courso of ot periodically taking profits There will too remain tho usual danger of oC shocks that have e been a constant feature during during dur dur- ing tho war Stone t t t- t Co Co Report The rhe figures ros given out b by tho the comptroller comptroller comp comp- of at the treasury showing Bho a n gain In last three years of at 56 GOO In ban banking kin resources tell tho the story of ot the uplift more graphically than an any other set of at facts Such a tremendous increase increase in increase in- in crease in national wealth Is ample explanation explanation ex ex- of or the tho great rise In tI ties s. s If It this is a result of ot et extraordinary nar nary business it Is ts also a visible cause for market optimism Not t-ot only has this country been offered red the largest volume of ot business in its history but it has been supplied with the means ns with which to tu do it Wo Vo havo have frequently had hull a largo large volume of ot business but it has al a always s been followed shortly by insufficient capital bringing about nigh money rates which sooner or later have hac tended to restrict the busy noss ness Also we havo o had periods of or cas easy money but this has invariably been because be because be- be cause causo of at Hof lack of ot demand for tor capital It has lias always denoted slack business Never before have havo w we e had tho c combination combination combi combi- nation of ot lon long continued activity and plenty of liquid capital It is no wonder won won- der that it is difficult to keep the market market mar mar- ket within bounds The Steel corporations corporation's report while not up to the most optimistic predictions I must be regarded regard as 38 very vory fa favorable fa- fa When a company can cnn earn four fifths of a years year's Interest st charges and preferred dividend requirements In I three months It is putting value alue ba back backof backof k of Its common stock pretty prell rapidly Nevertheless It suggests caution in es estimating estimating estimating es- es profits No company can get the top price for tor its product ov over r any period of at time lime also higher costs under under un un- der such conditions tend to restrict profits The market has been and is Is likely to continue continuo one ono of ot specialties As Aa ris ln in ing prices for tor one commodity or another an an- other paper other paper leather co coal etc aro brought home homo to tho the public and often most unpleasantly to the individual consumer the publics public's Ima Imagination is n fired d by the profits that these prices would at least theoretically bring to the companies dealing In these fuese commodities com com- Ono One should wn watch h the commodity com com- modi t market closely closel y for inspiration In the stock market et Under present t conditIons con con- it Is not likely that hat opportunity opportunity will be lost to make stock prices s conform with Ith theoretical profits based on commodity prices There Thero Is another thought wo we behove bc- bc hove that It would bo be well wll to keep at I the back of or ones onos head heaL Tho The statement has been frequently made that the stock stock- market will discount the tho ending of ot the t le war six months or a n year CU before the actual t event takes place This may bo be but we have an nn Idea that the tho duration of or the war will depend upon economic conditions In tho the warring countries countries- rep regarding which it is almost Impossible ImposIble sible Ible even e f far r tho the best Informed to set cot ct reliable Information A collapse in economic conditions might vcr very well wellcome come about bout with or no previous Indication In the military situation It is as a well to remember that only one ono short month before tho war broke out tho the situation seemed perfectly serene Unfortunately there mere are nrc no signs whatever what what- over ever at nt the moment of the ending of ot the tho terrible struggle but It is not lm- lm that when peace comes It will come as ns suddenly as war came and Just what It will mc mean to tills this country in an no economic sense we do not believe behove thero there is anyone anono Ih living ng that is enough to state with any degree of certainty |