Show TRADE AND FINANCE GENERAL during the last month the in crees ing strength ot of the business situation has continued to show itself the most hopeful thing within view with the exception of 0 the crop prospect cU is tho the amount of money being spent by railroads and industrial corporations for sew new building and extensions since january nearly one and a halt half billion dollars ot of new securities have been placed on the market not more than 25 per cent of it being for refunding purposes it is true that a i considerable portion ol of this Is for operations erat ions that thai under normal conditions would have been carried out a year or two ago so that the large borrowing ot of the present time Is in a sense abnormal however the fact that construction st and extension work alpar antly cannot bo ber delayed any longer has been the best possible indication as to the views held by business leaders in regard to future business but the crops really hold the center of the stage at the beginning of the season dubious ati bious reports with the best foundation were heard on eiery side but the bad positions of one crop after another have been altered until with some of them notably spring wheat and corn we are told to expect b bumper ump crops the winter wheat is harvested and Is better in fit quality and quantity than was anticipated N nothing oth more opportune could have happened general business particularly the retail mercantile interest though perceptibly on the upgrade his has ne needed eded and still needs encouragement and these crop reports are encouragement ol of the best sort the effect is partly indicated by the heavy increase in pig iron production and the very sharp rise in the unfilled tonnage totals of the U S steel corporation building operations erat ions during the last quarter have been and have brought i in their wake increased demand and prices for lumber and kindred products product i 11 r LOCAL As usual during the last year whatever good indications exist seem to be intensified in it the much dav ored intermountain west winter wheat could scarcely be better a statement that might with almost equal truth be made of every crop fruit in ill particular will make an unusual gai gain lil the surplus for shipment being estimated at more than per cent greater than in 1311 1911 A healthy interest is 19 being shown in mining development and the activity of 0 the regular producers I 1 is very gratifying perhaps none pt of the straws indicate the general feeling of i prosperity more plainly than the fact that the number of 0 automobile licenses being granted by the secretary ot of state Is much larger than in 1911 intermountain WHEAT LANDS it is IB perhaps not generally re alfted resil lied that one of the largest developed wheat i areas in the united states centers I 1 about salt lalee lake city in in utah alone I 1 there are probably acres ot of iland land now unused whose soil and climatic characteristics make wheat a natural crop in southern idaho there ara in nevada another and in southwestern wyoming perhaps more these totals while iwhite necessarily approximations are known to be under rather than over the mark out of this sunt sum ot of acres less than are now in wheat acreage of the united states the soil la is uniformly excellent it is is as a rule very deep and is composed of sand and silt or detritus with the two tiyo latter predominating heavy stiff clay soils are tile the rare exception it is easily worked is a loose warm loam of fine gerture and well corn packed possessing a sufficient amount of nitrogen of 0 high availability rich in the needed mineral constituents retentive of moisture and homogeny homogeneous 6 to depths unheard of in the eastern and central portions of the continent it is an almost ideal combination for farming the rainfall varies in different localities from seven to inches per annum and it is important por tant to state that tile the bulk or of it comes in the cool seasons of winter and spring a fact that makes it possible to conserve in the soil a very large portion of the moisture in the famous wheat regions of washington and oregon the rainfall rail rall fall has the same range but not altogether the same excellent seasonable distribution our eap exp experience with the winter cheats lias has shown that as high as sixty bushels per acre can be raised by the use of proper methods A general average output of 22 bushels to the acre is easily attainable as against a present average for the united states of 14 bushels this rate of brodu production won ou on all the intermountain land ava available 1 liable would mean an annual output 0 of nearly bushels of wheat a sum more than of australia mexico south america and canada taken together it means meang that the intermountain states could add 14 per cent to the wheat crop croo ot of tile the world at tile the average annual price for the last ten tell years this would mean an additional gross income of about it is true that 1 it all this territory were under cultivation the production or 0 wheat alone would not be as large as we suggest for tile the very good iea reason I 1 that a large portion of 0 the district is fitted for diversified farming and will eventually be so employed with a consequent money return still larger than we have indicated though these fagues seem high and are men him we are well assured that they are w within the tact fact we have for in excluded all lands with a preci precipitate nn na of if less than ihan ten inches though in the columbia basin a large portion of the 1 wheat is produced under a rainfall ol of but eaven to ten inches experience absolutely tails falls to show any deter iora tion in tile the quality of wheat after be ng grown here for a series of beai barz 0 the reverse Is rather true for the of the soil and its lack of excessive moisture combine to produce a braai that commands a premium As to the market for such a vast amount of wheat it Is tri t state that the price Is rising steadily stead lIV and has for a ge generation our domestic market is gro growing imi steadily er cr and although the national product tion of wheat has materially increased our export totals havo have fallen alien off with alarming quickness during the last ten years until the figure tor 1910 was wai lower than any but one since 1875 this means but one thing that within a very short time we shall become importers ot of wheat unless our and our production per acre is increased in europe the wheat deficit is becoming more marked each year in twenty years time it has increased its annual production of wheat by a halt half billion bushels annually but nevertheless has had to increase its importations by bushels it t must i not be forgotten either that these figures fl take into account the vast plains of russia even eastern europe has found it necessary to increase its production by five bushels for each one that it has been able to add one to its export total these figures indicate the general fact namely that the production of wheat in all civilized countries tends to lag ag behind con consumption S that prices have not risen more than they have lave is due to the tact fact that new mew has been constantly coining under cultivation considering the rapidly increasing population of tile the united states especially ally the producing non urban population and the consequent demand for breadstuffs bread stuffs we shall very soo soon 11 b be e forced to import or extend our production importation is practically inevitable in the long I 1 run un in fit any c case ase for as lands become better settled and more valuable alu able the tendency is to abandon wheat in favor of crops of higher money value nevertheless enough grain can be grown in the tain west to postpone importation afi bately and it is a sate safe prediction that this i ill be the next of the great hard wheat areas the worlds markets W will ill take all lepri becan brodu wt prices that will materially increase the national prosperity several things are needed for the full realization of the possibilities tor for instance better railroad facilities in districts like the treas treasure ure valley of san juan and grand counties and money available for farm loans but first of all the farmer must abandon 1116 growing of wheat on irrigated lands such grain cont contains allig too protein and too much moisture arid and cannot compete with that grown under standard conditions we should remember that irrigation is a specialized kind of farming suitable for the growing of such stich crops crops as fisit 3 an ana the small vegetables and that irrigation nater w ater is too valuable to waste va te a drop of it in the cultivation of 0 tho the cereals even it if we able to produce grain of as lne fine a quality which he is not we have in fit the past grown too many varieties of wheat practically av all of them the soft white variety ks s characterized by a low gluten content our commonest wheat gold coin is actually at the booton of the list both factors have given a low value to tile the cheats of the intermountain west as flour for bread making purposes must be of a uniform grade and of high gluten content there there has been too strong a tendency among us in the past to bring jo to the market grain that we can only describe as lust just wheat consequently utah flour is discriminated against by bakers not only abroad but at home except in those cases where it is known to be milled from our best grade 0 of hard wheat in fit which case it Is eagerly sought for now it is just as important to stick to one or two straight varieties in the raising of oheans atas of fruit for bakers sally make a sharp distinction between the flours made from soft or cheats and those from tho the hard grades tile the hard cheats c contain 9 britain the most protein and the flour made front from thern them will makeup make up into a great number of loaves per pound of flour this pret arence 0 of coarse governs the market for wheat which Is affected by only one ether other large commercial demand I 1 e that of the macaroni manufacturers whose preference is also tor for a super hard high gluten content the second great necessity Is therefore that our farmers should center upon a bard wheat that will meet the demands of the market it is a demonstrated fact that with eare care in seed selection and tile the elimination of 0 all but one varie vari tey etcy i 1 e the turkey red winter wheat the superiority of which has been proven by exhaustive hau stive milling and laboratory jests the great nasin basin fan can become one C the finest wheat glowing countries in the world as well ax as cne tie ot of the most moat prolific far surpassing the Pai ili coast ft the qu guity Ity 0 its product and at least equalling tile he dakota balota and kansas our wheat laida are in large part public lands av aie lo 10 forestry for entry and the entire area affords room tor for a rail million people not to 0 the increased urban population wo woi i itt follo w such an influx of farmers and their families each statement made with refer ence to the possibilities of the wheat growing industry in the i west has been approved by dr john A widstoe Wid stoc president of utah agricultural college an antl d the leading authority on western farming conditions whose name we quote by permission conclusion the unusual crop to be harvested by the intermor intermountain inter mou tain states this year calls attention to and lays heavy emphasis upon the desirability of more adequate marketing ar arrangements the working out of a suitable scheme presents difficulties but is entirely feasible and we suggest sit that a study of the plans in vogue in in yakima grand junction and other places might be of 0 great assistance in forming plans for our own use whether such plans take the form orm of selling associations or not it is unquestioned that some sort of operative cooperative co advertising of utah farm products is needed as is also operation cooperation co in the grading of fruits for market the question also arises as to whether such activity might profitably be extended to the handling of other crops than the fruits a point worthy of the most careful consideration THE NATIONAL COPPER BANK OF SALT LAKE CITY UTAH |