| OCR Text |
Show BUSINESS AND TRADE. Tho business of this city bas boon cnlivoned during the past week by seasonable winter wcathor, and other good flurries of snow, which gives further fur-ther roassuranco of abundant water for next season. The activity of business is fairly attested by tho Increaso of H.G per cent in tho bank: clearings of the week just past, compared with thoso of the corresponding weok last year. The stores still continue their special sales, getting ready for spring openings. Business la lively and collections aro good. Largo numbers of buyers aro in the East laying In their spring stocks. Tho building operations of tho city givo every indication of tremendous activity tho coming season. Building is being pushed on the east bench high school, on tho administration building for the Univcr.Mty, on tho Newhouse block, and tbo beginnings of activity on tho capitol aro in evidence. Tn contrast to previous weeks, the past six dwi-s have boen very active in tho real estato market. Tho dcalors report numerous? transactions of considerable consid-erable magnitude, and say inquiries? havo been unusually brisk. Thousands of acres of Utah farm land have boon sold to farmers who will cultivate tho soil, and to development companies which expect to irrigate and arrange the ground for occupancy by next summer. sum-mer. The number of real estato transfers was largo. The recorded deeds show that fift'-four pieces of property changed hands. Many of these were homo sites and several lots on which business buildings will bo orcctod. Ono of the most important developments develop-ments during the week was tho opening open-ing of tho bid of tho Dcsoret Savings and Deserot National banks for tho building and lot adjoining tho bank building on Main street. This property prop-erty will bo purchased by tho bank owners for $05,000. It is intended to demolish tho present bank building and1 the acquired structure and erect a sk-scraper. sk-scraper. The property Is ownod by the John Sharp estate. Tho bid was opened by Parley L. Williams, administrator, the executors of the will having been-grant-ed permission b' the district court to accept bids. Only the ono bid was received, re-ceived, tho bank officials and. executors having previously agreed upon tho prico. It will bo necessary to got. tho court's approval beforo the deal is closed, which will be soon. Tho separation of tho Uuion Pacific from tho Southern Pacific is proceeding proceed-ing with duo diligence, and man" rumors ru-mors are current as to possible official changes. Many of tho leading railway officials visit this city from time to timo with the view of completing tho arrangements and planning for improvements. im-provements. Record-breaking activities on the Salt Lako Route and on tho Westom Pacific Pa-cific to tho Pacific coast for midwinter midwin-ter excursions aro in vlow. The membership contest in tho Transportation Trans-portation club has onded in a tie. The club now has more than 400 mombors. Snow ha3 boon cleared from all tho tracks and the trains aro running on schedule time. There has been very littlo to attract attention during the past weok in tho mining industry, and littlo or no news in regard to tho metals. Copper continues con-tinues to hold at 10 cents a pound In Amorica, while tho London metal market fluctuates fractionally dally, tho whole copper world being on the watch for the resumption of world-buying world-buying of the metal. Tho copper ox-ports ox-ports during January showed a very material decroaso over the samo month of last year, and it is being hoard that the big prodncors of copper in America arc to curtail their output for the time boing. Woathor conditions during tho weok havo boon cxtromely favorablo generally gener-ally over the Stato, and n liberal ore tonnage has boon forwarded to market, mar-ket, but there continued a sad lack of prospecting in Utah hills. It is by no means an easy matter to interest capital cap-ital in the exploitation of now fields. During the preaent week tho International Inter-national company In Tooele county will place tho third blast fumaco in opera- tion at tho lead smelter, nnd the fourth furuaco will bo put into commission on Fobruary loth- With tho four furnaces fur-naces oporating, this lead smolter will havo a daily capacity of 1000 tons of oro. Tho company po far has mado no plaus in regard to resuming copper smelting at tho plant.. Eastern stock niarkot conditions aro very unsatisfactory, and no material change can bo expected until the disquieting dis-quieting influences now at work bavo been moro fully studied In the light ot greator oxperienco. Stocks as a rule are at vory low ranges mnrketwlne, yet thero is plenty of room for an oven greater downward tondency before tho upward trond is expected. Local mining eha.ro conditions aro as unsatisfactory as could bo Imagined Tbero is a total lack of public interest, and thoro is nothing in the immodiato future Indicating that a change for tho bolter 1b likely for somo timo. Tho investing in-vesting publlo ovorywhore la playing a walling gnmo as far as tho stock markets mar-kets aro concornod. The commercial agencies of tho country coun-try report the continnanco of tho bupi- ncss expansion so prominent in the closing clos-ing yoar, guided on conservative lines. The lnrgor contort; of distribution oon-tlnuo oon-tlnuo a heavy business, especially in tho big crop regions. Money Is easy. Funds are returning to tho big financial finan-cial conters from tho interior banks in large volume, and Western banka are liberal buyers of commercial paper. Tho satisfactory oonditions with which the old year closed have boon continued through tho first month of tho new year. Weather conditions in somo localities lo-calities havo boen adverse, and the big gannont workers' strike in Now York hao been a deterrent. Tho Iron and stool trade continues so activo that only the inability of tho mills to make prompt delivory prevents further expansion. Tho opon wlntor lias boen favorablo for now building, and important construction work is in progross. Tho Boston wool market reports light business, with prices firmly hold. Tho stocks of wool aro low, and It is reckoned reck-oned that manufacturers must soon como into tho market for supplies. Monoy is abundant on easy terms and trado iD roportod fairly good on tho stock exchange. Tho exports of gold cause no uneasiness, because of tho abundanco of money. Altogether, tho first month of tho year is reassuring to tho business situation, situa-tion, and is likely, so far as present appearances go, to bo a gauge of good prosperity for tho future. |
