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Show BUSINESS, TRADE, AND FINANCE. . Tho special event of the week In the business circles of this city was the excursion of the real estate men on Wednesday, the- enormous crowd that went to Saltalr on that occasion, and the unusual Interest In the distribution of the prizes offered. Fully fifteen thousand thou-sand persons wont to the lako that day, and It Is said that tho tickets sold were almost doublo that figure. The affair was In every way a record-breaking success. It served the excellent purpose of stirring the city to its depths, and causing such an inlorest in the Realty Men'o Association as had never been known before, and as will be suro of permanently beneficial results. Throughout the State the excellent business conditions and outlook continue in full forco; thero Is a promise of an unparalleled year In every form of business busi-ness in Utah. Water la plenty for Irrigation, Irri-gation, the ranges are unusually go"Od, and recent ralno have helped them, while all Interests havo prospects above those of average years. The wool sales yielded largely and the profits were satisfactory. Tho mines are continuing their great output, which is not leys than two millions mil-lions a month, nnd will probably average aver-age somewhat more for the year; $25,-000,000 $25,-000,000 Is a conservative estimate for their product this year. The month of June saw a product well up to the average and dividends paid of $269,000, the Silver King with $100,000 and the Daly West with $72,000 being the leaders. lead-ers. Tho new month opens with the posting of a dividend of fifty cents a share by the U. S. Mining Company, which will yield the holders the hand-somo hand-somo sum of $203,600. as the outstanding ahares amount to 407.200. It Is understood under-stood that these dividends will be quarterly. quar-terly. The reduction made by the railroads of Utah on rates for copper products to the Eastern points will be glad tidings to mining interests generally throughout through-out the State and especially the large copper interests. Utah Is placed upon an equality with Montana, and each year thousands will be saved the local producer pro-ducer by this freight rate reduction, which Is considerable. From $14.35 per ton to figures ranging from $9.40 to $10.40 per ton Is quite a drop. The $10 rate, however, is the one that will have the greatest effect locally, that rate- apply- ; lng to the markets which receive the bulk of the output of this State. The details of the new tariff will be found elsewhere in this impression. There is no important event in the railroad world during the week. Work, however. Is nushlncr with hi nimnct energy by the San Pedro, Los Angeles & Salt Lake Railway Company .(the Salt Lake route), and the track will soon be constructed to Las Vegas. But little more than a hundred miles will then remain to be put in, of the through route. A cheerful dispatch In tills connection con-nection came yesterday, that this road will open traffic today (Sunday) between be-tween Los Angeles and San Bernardino, using the company's newly opened main line to Riverside and 'the old Southern Pacific narrow gauge from Riverside to San Bernardino, i The Moffat road has filed Its mortgage here, and is pushing work on the Colorado Colo-rado end of the line, from Denver hith-erward. hith-erward. It is expected that active work will begin on this end very soon now. The Western Pacific situation remains as before. Business in this city shows the seasonable sea-sonable mid-summer lethargy, especially especial-ly In the retail lines. Wholesale trade Is In good volume. Collections are improving. im-proving. The bank clearances for the week show well up to the high standard of last year. The" season will surely be a prosperous one for all forms of business. busi-ness. The real estate activity has been especially es-pecially marked the past week, and naturally nat-urally so, for tho real ostate men's excursion ex-cursion has been the general topic In every one's mouth. The important transaction of the week was the sale of the Scott-Strevell building on Main street, for $7C,000, a good Hale and a good buy. The building operations in the city continue on the most extensive scale and the Bceno of them is all over town; tho extension southeastward, and the construction con-struction of new cottages in that direction direc-tion is especially marked. Without doubt, the money to be spont thie year In building In this city will far exceed the like expenditures hore In any former for-mer year. Tho great commercial agencies report that tho conditions throughout the country coun-try arev improving, and that the general industries are likely to have a better showing for tho second half of this year than they had during the second half of last year. The crop conditions are improving, im-proving, and tho good weather is likely to yet glvo the country good harvest returns, though these are likely to be somewhat below last year save In cotton, cot-ton, which will be largely In excess. The International Mercantile agency says the heavy rains, though doing some damage, will more than compensate for that through benefit to the crops. Jobbing Job-bing trado Is hotter than a year ago, with promise of Increase. The Iron and steel Industries are looking up. Dun reports encouragement In returning return-ing confidence, and anticipations of better-things for tho ensuing half year. Railway c-arnlngs show increase for June. Prospects are favorable for largo returns from the farms. Insolvency returns re-turns show a steady decrease In liabilities, liabili-ties, and business failures are no more than average. Bradstrcet also imports a more satisfactory satis-factory outlook for the ensuing half year. Railway earnings for the fiscal year, In spite of the falling off In come of the- months, -will show a gain of 6 per cent gross, year ending June 30th. Bank clearings for the lx months will show a decrease of at least 14 per cent behind be-hind a year ago, most of the decline being be-ing In Now York; in- other cities the de-creawwlll de-creawwlll not much exceed 4 per cent, which Is surely a remarkably good showing in view of tho outcry that has been raised. THo bank clearances of tho week show a decrease of 28.6 per cent In New York, and of 18 per cent in the cities outside of New York, compared with last year, a decreaso for all of 20.S per cent The New York bank statement. Issued yesterday, ehowo but little fluctuations, fluc-tuations, the gainG (In no case large) being In loans, deposits, legal tenders, nnd U. S. extra depoplte, and the decrease de-crease (small) In specie and In surplus. The movements In all were on a comparatively com-paratively minor Bcale. The general movement In stocks, bond?, and general securities has been lethargic, with dealings small and margins mar-gins narrow. There has evidently como a turning point in tho iron nnd stoel Industry, In-dustry, with prices rebounding from the low point, and a better feeling In' all branches of the trade. Tho bottom has evidently been sounded, and a reaction of some Importance Is recorded In every branch of Industry and commerce. |
