OCR Text |
Show BUSINESS AND TRADE. The moderated weather of tho past week has given oncournging impetus to building operations. These aro now being be-ing prosecuted, both insido and out, with a vigor and energy which sponk well for tho vast activity in this line that wo naturally expect tho coming scasou. Now building projects aro constantly brought forward, perhaps tho most important im-portant of thoso of the week just past being the now largo hotel to bo built on tho northeast corner of Main and Fourth South, tho old Kimball corner. Tho work on tho Ulah Hotel at tho head of Main Stroot is boing pushed with all modovn appliances and energy. Tho Nowhouso llotol on Main and Fourth South is nlso losing no time in pushing forward. Other business blocks aro also in process of construction, and many othoru aro m contemplation; whilo tho construction of dwelling houses is being planned on an even greater scale than last year. To kcop pace with this great activity in building, tho real estate market is in excellent form. The aggrogato of sales is always largo, and important transactions nro of frequent occurrence. Evoryono understands tho value of Salt Lake realty and the desirability of possessing it, so that tho demand is brisk and tho market is hold firm. Tho banquet of the Manufacturers' Association on Thursday evening was in pursuanco of a plan to push the use of Ulah products. "Everything sorvod up was of Utah growth nnd manufacture, manufac-ture, and the banquet was an illuminating illuminat-ing exhibit of Utah's great possibilities in this line, leaving lit t lo to bo desired and nothing to be needed. Tho goneral trade of the citj' for Iho week, as moasurod by Iho bank, clearances, clear-ances, which is tho best possiblo gauge, shows a great advance over last year, the clearances being reported at G0.S per cont gain. This is an enormous increase, especial I3 when wc consider that thoro wore only fivo full business days in tho week. The great gain in population undoubted!)' un-doubted!)' accounts for a largo portion of this increase, this gain boing proved by tho fact that although dwelling houses have been put up by tho hundreds hun-dreds in tho past three years, these aro all immediately occupied, and the old residences also remain full. Tho morchants keep larger and moro widely varied slocks than before, to meet this iucrcascd demand. The, old-timo activity in mining operations opera-tions prevails, with groaU'intcrost taken in the big mcrgor between tho Ulah Copper Company and the Novada Consolidated Con-solidated and Cumberland Ely. Mr. iMacN oil's estimate 01 production by the now combino of 200,000,000 pounds of copper per year, at $.10,000,000 profit, must be an oyc-oponcr to any Eastern financial circles that wcro disposed lo discredit mining as a profitable business. busi-ness. The product of tho Utah mines during the present year will doubtless reach an aggregate of something like $2,500,000 per month, Tho smelting facilities in this valley aro of the best, and of a most oxtonsivo character, all now nnd tho best improvements being added as thoir worth is established. Great interest in railroad circles is manifest on the proposition of tho new lino to bo established for tho Salt Lake Route in the region where tho groat washouts occurred. The intention is lo find tho shortest route over practicable ground. The groat through lines of the country aro straining thoir utmost efforts ef-forts to cut down distance, olimiuato grades and curves, and to mako possiblo the swiftest time. This by reason of the mail and passenger competition, as well as of tho need for speedy delivery of many kinds of freight. This important impor-tant fcaturo will of course bo fully considered con-sidered in establishing tho now roulo, and. somo initial increase in cost will n,ot bo allowed to inlcrforo with tho shortest and most practicable line. The Western Pacific is running freight cars constantly between this city and San Francisco, but has not yot established estab-lished its passenger trains and full schedules of traffic. Every indication is that wc shall hear positively from tho Moffat railroad tho present season, with a probability pf the beginning of work on this line in Utah. Tho general outlook for Iho Slato tho present year is first-class. There is an abuudanco of snow in the hills, indications in-dications arc for an early spring, tho weather bureau forecasting this. Thcrp is not much reason to fear any serious loss of sheop in this Stato and altogether alto-gether the year's prospect is first-class. In the country at largo, the trade roporls arc a littlo "spotted," although tho great incrcaso of bank clearances from $2,820,587,000 in the corresponding week of 1009 to $3,532,882,000 in the past week, shows a magnificent increase in trudo prosperity. Thcro is an underlono of quiet in commercial circles, but evidently a fine spring trado is expected. Iho buyers be ing al. the dopols of supplies in great numbers. Much activity prevails in the iron and stool mnrkcts. but dullness in pig iron is becoming moro a'ppnront. Many buyers aro in tho dry goods market, but generally their operations are conservative. .Jobbers aro doing an average season's business, but expectations ex-pectations of grnet activity havo not boon roalizod. ' Thoro is practically no chango in the metal markets, all hough encouraging roporls conic of Iho decrease of copper on hand, tho demand apparently talcing up tho current product as woil as absorbing ab-sorbing much of tho accumulations. In spile of tho recent heavy exports of gold, there is no lack of money in ''the chief financial centers of the country; but this monoy is not available for speculators, specula-tors, and incautious investments are not favored. With good crops tho nroosnt season, thcro is not tho least roason to anticipate anything but a magnificent year of prosperity for the wholo country. |