| Show THE LOCAL FINANCIAL SITUATION SPEAKING of the territory at large the local financial situation is peculiar and it would be well for the people to study it and trim sail in accordance with prevailing winds A wholesale merchant of this city recently stated elated that his establishment alone aoud drive a number of country stores in the territory into bankruptcy other business men to whom the remark has ban been repeated have expressed the belief that there was unfortunately too much truth in it the reason for such a situation is 18 this the establishment referred to supplies nearly all the country stores in the territory with a certain line of goods and carries many of them on its books for considerable amounts in nearly every case cam payments were over due and should the wholesale house bring a sudden and unexpected pressure to bear upon the retailers the latter would find and it almost impossible to respond owing to the scarcity of money the monetary stringency felt in this city since the holidays holiday 8 has bas been remarkable but has not been as severe as in some of the smaller towns in this city nothing is being done by way of starting a number dumber of enterprises and buildings that were talked 1 of last fall as fully determined upon and aad arranged to be pushed this spring in north and other portions of the city street railroads were to be laid manufactories manu factories established and important improvements inaugurated of which nothing is now bet being ng heard and not a few mechanics are idle r and yet a gloomy view of the outlook to is not justified nor to is it widely prevalent on the contrary there is sanguine confidence that financial matters will right themselves it is surprising to note the hopefulness of business businessmen men who find it difficult to ray ay the least to meet their obligations and it is gratifying to observe the disposition of creditors to be lenient and accommodating which has been widely prevalent and but for which serious consequences would have been fated upon the community that the laboring classes particularly in this city do not lack con confidence fi dence is indicated ty by the recent action of the hod carriers in agreeing to demand a scale of wages varying from 8 to per day of eight hours there is good ground for confidence but it should not be carried beyond the limits of caution and conservatism so no panic nor serious financial collapse is indicated by any observable signs but the boom is dying away and values are settling to a permanent t level such a process causes capital to be cautious makes money close and inevitably brings disappointment to some who have been engaged in speculation ula tion for sometime to come probably work will not be as abundant nor wages as high as was the case last year and business houses houes which are judiciously conducted will endeavor to curtail the amount of credit extended to patrons and economize their financial strength individuals should govern themselves in accordance with prevailing condition itis 11 is not a good time toen to engage in airy speculation but the indications offer strong inducement to legitimate enterprises and industries and such investments can and should be made and encouraged in this connection it to is proper to call attention to the sugar factory in utah county it has already been a remarkable seimu lus to industry and enterprise in the region in which it is located it has provided employment for hundreds of persons including the workmen who are engaged in erecting the plant and promises pru well for the farmers who are sowing and cultivating beets should the supply of the latter prove too small it if will be a calamity and the farmers should exert themselves to meet the demand here is labor for a numerous plass which Is sure to bring quick and profitable rofle returns there is need for conservatism but not for apprehension money to is said to be slightly easier in this city and most of the banks are meeting the more moderate requirements of theirl their customers this it is hoped will soon spread an ameliorating influence over the territory and with the improved prospects for good crops jn in the fall through the late copious snowfall swill tend to relieve the monetary stringency but indebtedness should not be incurred in expectation of an immediate return of flush times and the man who owes the least will likely sleep soundest for some time to come |
