OCR Text |
Show BUSINESS AND TRADE. Tho formation of the Utah Develop-mcut Develop-mcut Lcaguo by a convention of delo-gntes delo-gntes from different parts of the State, held at tho Commercial club - rooms in this city on Thursday and Friday last, is the most recent and it may turn out the most important business occurrence- of the past week. That convention con-vention indulged in sonic lively talk, as was quite proper, on independent lines, but on one point all were agreed, aud that was that the best possible efforts should be" nladc for tho dclcvopment and upbuilding of tho Slate. Some politics crept in, as in tho discussion of tbo alleged Des Moines form of government, gov-ernment, but in tho main business and "economics occupied tho attention of the convention. Thero is to be another session of this Utah- Development League in this city next month, in which matters will probably take more concrete form than in the preliminary session just held. The resolution and declarations of purposes aro in the main commendable, aud afford ample working basis for tho league to get busy upon. The traffic bureau of tho Commercial club continues its activity in agitating agitat-ing for better freight rates for Salt Lake City. The apparent reply of tho railroads to this agitation, which appears ap-pears to look to tho yet further oppression op-pression of the business publie, cau-uot cau-uot be accepted by the freight bureau as anything but a vicious slap in tho faccto those who wish to obtain justico for this city. Thcro is no possible reason that wo can see why the railroad rail-road companies should not givo Salt Lake City at least an equal freight rato w'ith that which Spokauo enjoys; Spokano and this city being practically tho samo distance from the east and west coasts, taking it on tho general averago and measurement. It appears to bo an absolutely clear caso that if tho railroads can afford to carry freights to Spokane at a very much reduced rate as compared with the rate now prevailing here, they can also afford af-ford to ship to Salt Lake at tho Spokane Spo-kane iratos. The general business conditions in this city are on qnite a satisfactory basis. Trade is strong, tho markets and merchants' supplies are in great profusion, and offer a woudcrful variety va-riety of choice, tfho trading is vigorous, as is. to be expected at the opening of the holiday time, and thoso who serve the public arc on the jump to meet tho demands, Tho increase of population in this city, as is evidenced from tho immediate occupation of tho hundiods of now buildings put. up during dur-ing tho year just closing, adds to the demand very materially. And in general gen-eral tho business transactions are on an expanded scale, v Tho bank clearances of this city for tho past week, as compared with tho corresponding week last year, show an increase of 116.S per cent; that is, those clearances havo considerably moro than doublod. Last year, to bo sure, tho clearances were abnormally low by reason of the currency depression which was then pinching tho country. But making duo allowance for that, it is evident that thero has been a substantial substan-tial growth in the normal clearances in this city during tho year. The building operations, which came almost to a standstill during tho heavy storm, havo boen resumed in fair degree de-gree since, and thero is now an unusual activity in and extent of building for this season of the year. Tho building operations havo taken an exceedingly wide range, including the great Nqw-housc Nqw-housc skyscrapers, the big sovon-siory Railroad Exchange constructed by Mrs. Judge, tho Oregon Short Line union depot, the beginning of the Rio Grnndo Western depot, warehouses, business blocks, and, above all, dwelling places ranging from fiats, apartment houses and mansions to the modest cottage fit for the small family. All of these have been occupied immediately upon their completion, and still thcro aro no empty houses in town, and very fow torn down, All of which proves not only tho great increase in population, but also tho very material and gratifying . increase in business facilities and ca pacity. Tho real estate dealings show well for tho wook, property being firmly heldt and yet at pricos not excessive, so that any ono is suro of good profits in investing in Salt Lake roalty. This is. to bo ono of the great cities of the interior of tho United States, and those owning property here cannot possibly loso on it, but arc suto to gain. Tho mining industry is rapidly assuming as-suming its natural pre-eminence aud overwhelming importation. The magnificent mag-nificent report on the Silver King by Mr. MacVichie, tho great oxport, made public in Tho Tribune on Wednesday morning, showed resources iu wealth in that tremendous property excelling even the most sanguine oxpcctatious.'j Mr. MacVichie evidently considers this property ono of tho very greatest of bonanzas. The determination to construct con-struct tho Utah Con. smelter, which will do custom work also and be virtually an independent plant for the handling 0 custom ores, is one of tho great events of tho latter part of tho year. Tho completion of that plant will almost al-most necessitate the building of the 1 great tunnel through the Oquirrh range to give direct access from the mines I at Bingham to Tooele valley. This has boon ono of the dreams of the years for thoso on the west side of the range, and it looks now more than ever as if thnt tunnel, so long a mero speculation, specu-lation, must be, mado a practical fact. The data, compiling on tho mining industry in-dustry of Utah to bo used iu The Tribune annual will probably show results re-sults practically equal to thoso of last 3rear, when the metal product was given at upwards of $ol,Q00,0Q0. Tho railroad event of the week was tho opening of a further extent of the Western Pacific to traffic. That lino now nips regularly to Wells, Nevada, and thus affords acocfrs to a largo and rich area south of tho Southern Pacific line, au1 which the Western Pacific will do much to develop and assist. Next year this line is to be finished through to San Francisco from this city, according accord-ing to official announcement, and wc doc not doubt but that the time will earn the fact with it. Wo expect also next year to see something important achieved that will mako a showing for Utah on tho Moffat line, which is plannod and party constructed between Denver and this city. f The past year hasbecn a magnificent ono for Utah farmers and stock raisers. The very heavy snows that have already1 al-ready1 fallen, making great deposits in tho hills, nss'ure also a good agricultural agricul-tural season next year for this State. 1 In the country at large the bank clearances for tho past week show a vast phenomenal increase over those of the corresponding week the year "before, "be-fore, as was noted formerly in the treating of these clearings. But, as heretofore stated, last 3'ear was a j-ear of such abnormal depression that a direct di-rect comparison between the two years doos not toll a fair story. In order to get a proper comparison, the figures of 190G and 1003 also havo to bo considered. con-sidered. And taking theso for the country coun-try at largo, thus far the account shows that tho present year is below what the natural growth of tho country would lend ono to expect. But in Salt Lako it is just the reverse Wo have here a substantial and healthy increase, taking all of the. years together. The commercial agencies report that retail and holiday trade show expanded business, busi-ness, although in certain sections, especially es-pecially in tho South, whero low-priced low-priced cotton cramps tho buying power of the people, thero is not the activity ac-tivity that was expected. Tho .wholesale .whole-sale and jobbing trade is rather quiet, becauso the spring orders aro in a moasuro filled, and the trade is waiting wait-ing for developments and for reorders. Manufacturing operations continuo in good volume, and thero is a constant addiiion to tho starting up of machinery ma-chinery that, has for months been id-ie. The building permits he country over show good gains, and mercantile collections collec-tions aro moro prompt. Tho financial world is surprised by-gold by-gold engagements for shipment to France amounting to between live and six million dollars thus far, and the, reports sem puzzled as to the cause. Tho Tribune undoubtedly was right in its judgment, expressed Thursday morning, morn-ing, that tho reason for theso gold exports ex-ports to France is that Franco has boon unloading very heavily her American Ameri-can securities of all kinds; partly bo-caause bo-caause of the developments during the currency depression which showed such alarming shrinkago in the 'vfl thoso securities, aud partly,' juK5 political or economic roasonawp own; ono suggestion being tha-sS strengthening herself for a poniXw and another that sho is aceunC the gold to tako the Russian mWt -5300,000,000, which is expected offered early in tho new year. Wl scriptions to tho $30,000,000 .''J canal loan, amounting to radi 1(9 threo times as much as the Br offered, showed the great ple't 17 money in the country. And w' consider that thoso 2 por ceni EL Carried an average premium; V tweon 2 and 3 por cent, the qt 'jS of money available for immij & are easy to bo understood. $ Amid all this strength in our'j ? condition thero is ono weak that is iu the market of "tho Sfi for stocks, bouds, and other -$4 3 Tho public seems, loth to ii Br. corporate stocks, becauso of'h w4 settled condition of the legisjat t-' is threatened and becauso oft! f", ness of thoso threats from timei 1 which have the offect to frighli L-pcrsous- who, becauso of th gr for to hold thoir money without 6c any interest on it rather than;.1 &' in stocks which will be liab!a.;i W them loss. Aside from this; i try seems to bo in a. strong coa ff, the general lines of industry, it, finance. fc, |