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Show MS 18 Zlflfi Jjiicial' Flurry in New York Jpas Xofc Affected Condi- :S tions Here. !-RB WILL BE XO BAD -B TIMES IX STATEW UTAH .Knives Arc Too Enormous, tjfeney Too Plentiful; Pros-ti.Om Pros-ti.Om 'Pcrfr Everywhere.' '.Kmost satisfactory tliinjr observed ' ';Ko contemplation of the week's busi-'Kih busi-'Kih Salt Lake is i he almost coin-Is coin-Is Ujlffinclc of any bad results from the ty.Jpeinl fltiny m the East, especially M?w "lor 'tr' Anything similar 8iKD recent happenings there can not tttgjfiiavc a disquieting effect on fcho hiKsincss world, yet so far 'the ap-Ejusion ap-Ejusion that something might Imp-Jto Imp-Jto disturb the finances of this city jfcecn onlv momentary and the inter-Kf inter-Kf most of the pcoplo hore has been ply one of curiosity as to the final LAjMm2 of what soon' camo to be rc- Bd as the result of too much wild-lii wild-lii speculation among a few frenzied J tcicrs. The trouble in New York apparently not been anions: tho J Jar banks which belong to the rrr3 ring house, but with tho trust coni-3lW coni-3lW es which, from the nature of their ncss. did not consider if. necessary irry large reserves. Tho trust comes com-es are require, by law to carrj a ITU pve of five per cent, of their sccuri-'Ifll sccuri-'Ifll in cash in their vaults at the start; tE plater to add another five )er cent, Kfinnllv live per cent more. It has thought that the amount thus car--ttwonld be sufficient to guard the in-Ms in-Ms of the depositors and probably ir ordinary circumstances this would Abeen true. The difficult' with the lorboeker Trust company was that lips caught with too slender a re-Tp; re-Tp; Tho institution is really thor-(ttMy thor-(ttMy sound financially, and tho pros-iMf, pros-iMf, are that the public will suffer no ffroin the failure of the company to M Iflits depositors in full. As soon as Veecnrities can be converted into !there will bo ample monies to pay 1 Ilepositors in full and leave the trust ! Ifcany still able to continue busi- JfKla. losson taught by the recent difii-f, difii-f, will be an effective one to the agers of tho company, and will re-'in re-'in a lasting benefit to the banking r fcutions of the great city and to tho wA a arffe' In most communities " re is too much of prosperity to pcr-t pcr-t f&ny serious financial disaster, and -Ujt on as tho clouds clear away there l-he a renewed confidence in the '1QI ihess world. Iho recent flurry has taught moro )gj5 a. that. It has shown tho business M of the country that the agricultural fl. mining interests of the West have 33ii established on so substantial a rfadation that they cannot be shaken .jfany lack of confidence in any one ' JpHoial center. Especially is this true fcSalt Lake City. HfSBtr Weather Hurts Trade. It' is an almost amusing commentary ifciiithe stability of the city that whilo Kisildairy press is publishing reports of j JJfinancial distress in the city of New iiMfct the merchants here 6hould bo JEng attention to the bad effects pro-eTed pro-eTed on their business by the wcuther. Kyu example, the only change in tljo mt&U dry goods trade from last week atisfVbeen the falling off in the sale of ' jpter and late fall fabrics and the tinucd sale of warm weather goods. Wfl trade in silks and the lighter jfftt material continues firm. Ono gMter said that many of the women Jre buying two suits "where ordinarily H IC1"roul'i "be sufficient. It is said that j'Jgnon Tequires that the well dressed iman should have two tailor made 'its, bo the Salt Lake women must If fre m 1D orer to nc wel1 dressed. J lln the taffetas and panamas, the ftde is brisk, with French and storm Jjges and poplins steady. The demand .suits and silks in plaid patterns is ra -uias wel1 88 W tlle siotI jackets ifi blonscB which are to be so much fiSuZ worn this season. Tn draped gowns and the long, loose cloaks which arc in great favor and in the mannish suits, there has also been an unusually good trade. For the season's evoniug wear, the best, sellers are the double width satins, mainly in white colors with materials ma-terials in crepe do chine and satin sjir-rah sjir-rah rep or double surface satins. The most popular colors for the season arc the leather browns, with everything to match. Hats, gloves, coats, skirts and shoes must all be of the same or similar simi-lar colors. The demand for hats is mostly confined con-fined to the large mushroom shapes with fancy feathers. The big department stores are showing some beautiful creations crea-tions of a value around $12 and $20. !Many of these are in tho deep purples so popular in tho East, but the browns predpminate. The requirements of the fashions, therefore, have made an unusual un-usual trade in goods for women's wear, and the quantities sold indicate there is no lack of money among tho people. Clothing Trade Quiet. The effect of the continued warm weather is shown much more in the clothing trade, since there the men are principally concerned, and they are slower to awako to a realization that they require winter garments. Tho first cold snap, however, will probably set things in motion, and the business will be brisk from then on. The demand has been fair, the dealers say, but hardly hard-ly up to the standard. Hats and the ordinary gouts' furnishings are in a moderate demand, with a prospect of an earlj increase in the number of sales. Curiously enough, the sale of shoes, contrary to the expectation, has been exceptionally good. To be sure, the trade has fun mainly to the summer and early fall stvlcs. and this is the more remarkable in view of the reported report-ed serious financial conditions in soino other localities. The demand is mainly for oxfords -or low-cut. shoes, mostly in tans. The demand for the tan shade is in keeping with the prevailing tones of the ladies' gowns, although other colors are selling well. The demand appears to be falling off somewhat, however, as the season advances, and is being replaced re-placed by a. call for the heavier and more substantial high boots. Tn the wholesale trade the dealers are now getting get-ting ready for the spring trade, and report re-port a la'rger demand for leather than over before. The call for the colored shoes has created an unusual demand for colored kid, especially in the chocolate choco-late and the golden brown shades. The black Icids are less expensive, and in man; cases concessions aro being made to purchasers of those colors. For men's wear tho greater number of sales are in black oxfords, with a sprinkling of tan colors. Hardware Men Happy. Tn the hardware trade the week has been an unusually good one. This is especially true of some lines. Tho continuation con-tinuation of the sporting season produces pro-duces a good demand for all sorts of hunting implements. In guns and ammunition am-munition the trade has been brisk, with an excellent demand for high rubber boots, iackots. and all those things will go to make up an outfit. Thero has also boon considerable call for fishing rods and lines, which indicates that the peo-nlc peo-nlc here have ample leisnro to go "afish-ing" "afish-ing" as well us duck shooting. Sad-dlory Sad-dlory and blankets aro gong well, and there has been a good sale of horse furniture. fur-niture. Football goods of all kinds arc doing well, and will continue to sell until after the closo of tho season. The unusual building operations of this fall have created a demnnd for stoves, with (lie cull for furnaces a closo second. Tlit' explanation of tho greater di'inand for sto.'fls h the loss expenso required in la-i-ping them. Tho stoves fuiiHiuno mui'li leas coal uud can lienci! be operated in a uuii-h moro economical manner than the larger lu-atqrs. ' The call for mining ninchinory - continues con-tinues quiet. The onlers of the earlier fall are being filled and many orders aro being rucuivod for delivery, at a future time. This is doubtless due to the slump in many mining stocks and tho strikes which have affected many of tho oporations. The falling off in the trade has been cdhfincd to certain localities also, which seems to favor some such explanation as the above. With the recent recovery in many of the mining stocks there should bo a slight picking up of the trade in mining machinery, although tho trade is not now at so serious a condition that there is any occasion for worry. Lumber in Demand. The demand for lumber for building continues excellent, with prices high. There is little biding at wholesale and the local retailers are able to supply the demand. The shortage of cars continues con-tinues to affect the importation of lumber lum-ber and tho dealers here are congratulating congratu-lating themselves that the' put in good stocks early in the season. The real estate market has been quieter quiet-er even than last week. There has been a number of small sales, enough, in fact, to keep most of the dealers busy. The men who are selling lots and" homes of moderate values for tho working people have felt no shutting down of the demand. Those who make a specialty of receiving payments in small amounts report a brisk business. Tn fact, it is only the brokers who are in any way affected and with them there 'has been a lack of large sales. Tho unsettled conditions in the East have, of course, seriously affected the speculation in real estate here, and have probably dotorred tho investment of much capital that would otherwise have been put into real estate in this city. The high prices of many of the holdings on the business streets have made buyers buy-ers and lessees adverse to investing until un-til there were indications that the real value of the property equaled the pri'C demanded. 'L his situation would seem to be duo to a fear that real estate in Salt Lake is in a state of boom and that prices would soon be lower rather than to any fear of the consequences of a panic as n result of the unsettle.1, financial condition in any other places. The general financial condition of Salt Lake, then, is evidently sound. The regular increase in tho bank clearances clear-ances over last year from week to week indicates that "the city and the surrounding sur-rounding country is in a prosperous condition. con-dition. Loan rates aro 7 per cent on call money and S to 10 per cent on time. Tho recent telegram from tho president of the Commercial club of this city to the New York American voiced the" financial situation all over the State of Utah. Ho said: "Wo shall have no bad times in Utah. The resources of tho Stato arc too enormous, money too plentiful and our large bodies of "diversified ores too easily extracted and cheaply treated to niako possible hero, under present conditions, con-ditions, anything other than widespread business optimism." The bank clearances' for tho week ending October 26, 1907, are as follows: fol-lows: " 1907. 190(5. October 21 $1,3-19.173.02 ?1,016,47-1.19 October 22 1.463.327.90 1,052,178.91 October 23 1.098.S9S.3S SH.322.77 October 2-1 1,162,175.99 848.901. iS October 25 950.852.32 892,472.01 October 20 729.699.55 964.132. -12 Totals 56.754.091. 16 "5SS. 1S1.7S Increase, $165.609. 3S. Local Stock Quotations. The following are the latest quotations: Amalgamated Sugar Co., pfd $ 95.00 Amalgamated Sugar Co.. common. 157.00 Beneficial Life Insurance Co 116.00 Barnes Banking Co., Kaysvllle 140.00 Con. Wagon and Machine Co., pfd. 110.00 common '100.00 Commercial National bank 175.00 Deseret National bank 290.00 Deseret Savings bank 525 00 Davis County bank. Farmlngton., 130.00 First National bank, Ogdcn 325.00 First National bank. Murray 132.00 First National bank. Logan 195.00 Home Fire Insurance Co 187.00 Heber .T. Grant & Co 135,00 Lewlston Sugar Co 12.10 Nephi National bank 100.50 National Bank of the Republic 150.00 Ogden Savings bank 245.00 Provo Com. and Savings bank... 155.00 Rocky Mt. Bell Telephone Co 7S.00 State Bank of Utah 200.00 Sugar City Townsite Co 132.00 State Bank of Brigham City 126.00 Thatcher Bros. Banking Co 147.00 Utah-Idaho Sugar Co.. pfd $.60 common 3,50 Utah County Light and Pow. Co. 1.15 Utah Banking Co 147.00 Utah National bank 150.00 Utah Savings and Trust Co 109.00 Western Loan and Savings Co.... 106 00 Zion's Savings Bank and Trust Co. 300.00 55. C. M. 1 192.50 BONDS. Salt Lake City Railroad 102 Sumptor Valley Railroad 1025 Utah County Light and Power Co...l02J Utah Sugar Co ...102 |
