The Salt Lake tribune. [volume], December 29, 1907, Page 28, Image 28

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Tjl j 'ixiiil SAL LA&iii 'xiBuisiJci, buKDAf IviOEl'Ti Djiiu&iibliilZ, 29, XLjQ7.
f' 12 O t Fl CFI? I? WIT Review of tlie Business I .
" , J3j$X.JJLf y 1 I.IPjFj 1 L$ Year-Witli Forecast.
' v"iuotcen hundred and seven was a
I year of extreme c excessive, appar-
f ently insatiable, dcinnud early but lat-
j or .of dullness uncqualcd for years. Co-
I incidenily there wcro three scparato
I ,( and distinct declines in prices of eo-
i a curitics, interspersed, however, with ral-
L a lies depriving the general downward
', Jj movement of the year of its uniformity,
il; but -.foreshadowing the lator quieting
11' down of trade nnd industry. Accom-
I T! pnnying and aa a result of the last
L; great break iu stock and bond prices
jj, there ensued a marked loss of public
t Confidence, suspensions of financial in-
'X fltitutions so swelling business failure
liabilities as . to-recall tho damage of
; .1S&3. and an acute money panic, caus-
i f I lug widespread suspension of trado and
' industry, the year closing with a degree
1 o; pessimism as to the outlook, only
ll) bo compared to tlic feeling of op
n timism ruling at its opening.
The year saw 'and tho markets for
securities and commodities reflected
many disturbing occurrences, besides
witnessing tho play of forces and in
fluences having their inception in pre
ceding years. 'For one- thing it became
o'vident that tho entire- world finan
cial, commercial and industrial was.
in J907, living beyond its means, aud
tliat the boasted largo additions to tho
world's stock of gold -were not suf
ficient lo offset tho destructive effects
of past wasteful wars, the vast loss of
property growing out of conflagrations
in 1906, and the increased expendi
tures of all countries, states, municipal
ities and individuals. Speculation in
real estate and miniug securities put
additional burdens upon inone' sup
plies, already strained by the neces
sity of providing sufiicicnt of the cir
culating medium lo carry nlong Jic
unprecedented dpmand for all kinds of
goods selling at tho highest prices in
vcars. In addition, the buHiuoss and
jfinnncial -world was called on to bear
effoefs of past shocks to confidence-, of
investors at homo nnd abroad resulting
from life insurance disclosures, tho rov
olations that somo banking interests
wore willing lo deny linnncial accom
modation to ordinary mercantile bor
rowers, in order that unronsoning specu
lation might be fostorcd. and proofs
that laws had boon evaded by somo
corporations through freight discrimi
7iations. The railroads wore among the first to
learn that short-time notes at high rates
of interest -wore a precarious depend
ence for supplies of liquid capital, and
attacks upon these corporations by leg
islatures prevented fresh borrowing,
even if capital -was to bo had, which
was doubtful. Government prosocu
t.ions of corporations also hurt invest
ment bu3-ing o securities, and the lack
of conservatism displayed by the fed
eral authorities at times when tho pub
lic mind needed rcassnranco and calm
ing wore certainly not helpful. Inci
dentally some members of the banking
communitv, in tho time of ncuto fear
last October, preached sanity ind
agalnBt tho. hoarding of money, and
then did what they were inveighing
against to the detriment of the entire
"business community. As ono critic -nit
it,, it "was not so much scarce money
as it was " scared" money that cnused
tho damage In the autumn of 1907 after
the actual panio was stayed by a few
ginntB of finance. Wholesale trade was
largo, but retail trade was irregular,
and crops wero smaller. Tho statistical
Etory or 1907 follows:
Year Bogan Poorly.
Tho year began poorly a3 to the
weather with complaints of a mild win
ter affecting retail trade. Following
this came a shore fpell of summer-like
weather, and then .-just at planting time
began two months of cold weather
which was injurious to vegetation, de
laying to crops and ultimately, despite
favorable, weather in the summer and
late fall, resulting in lessened yields of
nearly all crops as comparedwith 1906.
Spring trado bogan well, with a good
Easter season, but languished for two
months thereafter, though needed hot
weathor lator restored some of the lost
"balance Jtfild weather early in tho
fall, tho late movement of tho crops
and the October panic and its" after
math hurt fall trade and holiday busi
ness. As to wholrale trade, it may be
said that six months' business was se
cured before the year bogan, but the
business done after July 1, aud espe
cially In the last qnartor, w .s bolow
other years. Industry entered the year
with full order books and had about
caught up with demand in many lines
when tho Octobor panic occurred. Col
lections were at no time especially good,
and in the late fall they were posi
tively bad in somo sections, with an
immense amount of paper reported re
newed. Despite all drawbacks, "how
ever, bo keen was early demand and so
behindhand "woro nearly all manufac
turers that the excess in the first half
of; tho veur probably more than mado
lip'for losses in the last half, bo that
the year's, turnover in wholesale trade
and "industry compares quite well with
1006. Poor crop reportB and estimated
or actual lighter yields wero responsi
ble for excited movements and a higher
range of prices of farm products, espe
cially, of grains and cotton, than in
1906. Commodity prices, as well aa the
cost of living, generally struck new high
levels. Labor was scarce, but com
plained of as inefficient until close to
lie-end of the year, when decreased
building and manufacturing operations
brought about a surplus Bnpply. Emi-
, Agricultural Piclds and Values.
Changn
Tlclila from Past
1007. 1006. Records. Tear.
Corn, butnuaa 2,502,320,000 D 11,4 2,027,410,031 1006
Winter wheat, bushels 400.442,000 D 17.0 102.888,001 1U0G
Sprint- wheat, bushels 224,615.000 D 7.4 203.185,322 1S9
Total wheat, bushels 634,087.000 T 13.7 748,4110,213 1!01
OiUs, bushcla 751.443,000 1" 21.7 087,842.704 1902
TJnrloy. bushcla 153,317,000 D M.5 178.016, 4St 1900
Ityo. bushels 31.5GO.000 D 5 4 33.fl30.502 1002
Buckwheat, bushels 14.200.000 D 2.4 22.701.S39 I860
Total six cercalo J..." 4,1S0,023,000 D 13.S
Flaxseed, bushols 25,851,000 T 1.0 28.473.000 1005
Potatoes, bushels 297,942.000 D 3.2 332.S30.300 1004
Hav, tona 63,677.000 I J 1.0 6C.S20.012 1S89
Tobacco, pounds ,.. 698.126,000 I 2.3 821.823.003 1902
Rice, bushels 1S.73S.000 I 4.9 21,096.038 1904
Hotton, balos 12.000,000 D 11.1 13.600,000 1904
Sugar, tona 1.539,000 I 4.6 1.470.290 1006
Hops, pounds 4S.330.000 D 13.7 CG.000,000 1006
" Change
Values from Past
1007. 1906. TlccordH. Tear.
Com SI, 340.446,000 J 14.9 $1,166,626,470 1906
Wheat. : 551.437.000 I 13.0 518.372.727 1905
- Oats 334,.r.03.000 I 9,1 306.202.97S 1906
Barlov 102.05S.000 I 37.0 71,235,997 1900
Ilye : 23.068.000 T 17.3 24,589,217 1801
Buckwheat .' 9,975,000 I 14.3 16.S12.070 1S67
Total six cereals $2,364,552,000 1 14.4 $2,005,880,799 1006
Flaxseed ' 24.713.000 D 4.6 25.893.165 1906
Potatoes ' IS3.8SO.000 I 17.1 160,821, 0S0 1905
Hay , .". 743,507,000 I 25.5 502,539,071 1906
Tobacco '. 76.231,000 1 11.7 68.232,647 1900
UIcc 16.OS1.000 . D .2 16,121, 29S 1906
Cotton 650,000.000 D 9.2 716,352,000 1906
Value all farm products $7,412,000,000 I 10.0 $6,794,000,000 1906
Finance and Industry.
Chance
from Pasl
1007. 1006. Records. Tear.
Bank clearings $114,200,000,000 D 9 $irS,S23,S47,914 1906
Imports merchandise, estimated 5l.430.sa4.000 1 8 $1,320,600,250 1906
Exports merchandise, estimated SI. 906,289.000 I 6 $1,708,217,943 1906
Total trade, estimated 53,337,173,000 r 7 $3,118,857,193 1906
Rallwav earnings, ten months J1.503.46S.000 I 12 $1,335,147,000 1906
Circulation, December 1 $3,008,241,583 T in $2,734,000,000 1906
Building expenditure $583,000,000 D 7 $627,000,000 1906
Now York Block sales , 107.831,000 D 31 265,577.351 1901
Xew York bond sales $540,398,000 D 20 $1,030.S10.560 1904
Pig Iron output 25,200,000 D 4 25,307,101 1906
Iron ore shipments 4I.2SS.755 1 10 37,513.595 1006
Anthracite coal shipments 66.500,000 T 19 CI, 410,201 1905
Shoo -shipments, eases 4.700.000 D 0 5.12S.00O 1903
Jabor strikers 175,000 D 68 650,000 1903
Tnimlirrn.tlmi- tntnl l.SHSr.i T R 1 !'7 nflrt lldfl
gration was tho heaviest in tho coun
try's history t coincident with tho great
est immigration ever recorded.
Year in Detail.
Weather conditions wore irregularly
unfavorable during January, excessive
rains west and mild weather cast and
south affecting retail trade, whilo tho
northwest was buried in snow. Through
out tho country there was complaint
of congestion "of transportation, aud
somo 1906 holiday goods wero held on
cars until February. Floods iu the cen
tral west interfered with industry and
there woro fears of dnmngo to winter
wheat from the lack of snow covering
or from insects. Wintcry weather
early in February accentuated fears as
to wheat, which continued with little
snow covering, and greon-bug damago
in Texas foreshadowed a failuro of that
Stato's wheat crop. Difficulty in bor
rowing monoy and serious congestion
in transportation hurt tho railroads,
which found operations dangerous be
cause of strain on working forces, while
revelations as to railroad stock-watering
caused an outbreak of granger legisla
tion and predictions of curtailment in
new construction or of improvements.
Alroady thoro wcro misgivings as to
the lop of tho prosperity wavo having
boon roached, despite great industrial
activity and an immensely active de
maud for cotton goods. Ea'rly in March
the Ohio valley was floodod for the
second timo in 1907, prices for com
I raoditics roachod tho highest point in
fifteen years and green-bug damago to
wheat moved northward, but trade was
good, and order books wore reported
filled as nevor before. Anti-railroad
legislation reached extreme develop
ment, and tho stock market experienced
its first weakness of tho year, culminat
ing the "mystery panic" of March
14-16. Less confident iron buying for
tho third quarter and easing in copper
prices wero features following the stock
market slump, but almost sumzncrliko
weather stimulated a good Easter trado
at retail. April ushered in a two
months' spell of cold weather, which
interrupted farm work, chocked plant
growth and made a sharp advance in
wheat, corn, oats and cotton prices.
Gross railway earnings wero large, but
net earnings reflected higher coBt of
operation. Poor trado and slow col
lections were complained of in May,
which saw export trade at Now York
paralyzed by a Btriko of longshoremen,
and strikes at San Francisco interfered
with foreign and domestic business.
Coreala prices boomed early in May, a
reflection of poor crop roports at homo
and abroad. June opened with poor
crop promiso, some conservatism in or
dering for fall trade, 6low retail trade
and poor collodions, but a change for
tho DCtter was aeon after tho first
week; crop conditions improved, cotton
goodswere strong and 5 to 10 per cent
gain in totnl trado over tho first half
of 1906 was shown. Gold exports were
heavy in June and coroal prices droppod
sharply. Financial matters wero unset
tled in July, and coppor prices eased,
but hot weather stimulated retail trade,
though crops gained less than expected.
Early in August occurred the second
big broak of the year in stock prices,
the record Standard Oil fine, lower
prices for copper and iron, high rates
for money and tho strike of telegraph
operators being some accompanying
features. Deposits of treasury funds
cased the money situation slightly, but
thero wore signs of quieting down of
industry and collections wero oackward.
Features early in September wero re
ports that buying of new Btocks of
merchandise was less notable than in
former years, and copper declined
sharply, but stocks showed evidences of
bullish manipulation and a successful
citv bond salo contrasted with a failure
in Juno. ConBcrvatism and caution as to
new business was visible, and later Sep
tember saw tho shutdown of many cop
per mines, ronewed weakness in stocks
nnd bonds and a receivership for tho
Now York City Street railway Oc
tober opened with money tight, hot
woathor restricting trado and cotton
goods easing- tho very lato crop move
ment affected trado nnd the return flow
of money to tho East. Tho TJnitod
Copper 'corner" of Octobor 14' ush
ered tho tliird great broak of the year,
culminating in trust, company "runs,
suspensions of many financial institu
tions, premiums on and hoarding of
currency and tho issuanco of cloaring
houso certificates and of emergency
currency. In Novomber trado waH at a 1
low obb, wholesale- business cut off, do
mestic exchanges were dislocatod, col
lections fell to very low volume, can
cellations wcro numerous, industry was
curtailod, forces reduced and wagos
cut, in somo instances becauso of fear
of cancellations or of lack of mouej- to
meet payrolls. On tho othor hand,
"runs ' on financial institutions wero
generally withstood, imperilled trust
companies were reliovcd, November ex
ports of merchandise and imports of
gold broko all records aud tho mono
tary situation improved, though the cur
rency premium lasted until late in De
cember. Trado was quiet in the latter
month, retail business was affected by
mild weathor and holida3" buying was
not as large as in recently proceding
years. Bank suspensions woro numerous
in December, iron production was great
ly curtailed, comraodit' prices rallied
after tho heavy drop in November and
export trado in cotton goods showed
life. For the first timo in years con
siderable railroad equipment was re
ported idle. Tho winter-wheat area
and condition December 1 was below
1006.
Looking Forward.
The pain of recent wounds is too
acute to allow very optimistic views
being taken as to tho outlook for 1908.
There is, in fact, rather a disposition
in trado circles to look upon the re
verse side of tho picture. This is not
I extraordinary, however, becauso it is
usual for the avcrago man to be bullish
at the top and bearish at the bottom.
In addition, thero is the knowledge that
trade in other countries Is quieting
down, that a presidential election is im
pending, that readjustments of wages
and of prices aro auro to follow stock
and money market convulsions, and
that expenditures for all public and
private purposes aro likely to be smaller
for somo time to come. On tho other
hand, it should not bo forgotten that
thero is a large and very profitable busi
ness to bo done iu this country in sup
plying the wants of the 84,000.000 peo
ple that inhabit it, and that the warn
ings to tho country of the prosent trou
ble wero so early and so numerous that
large accumulations of stocks and goods
were avoided, Buying for somo time
past has been of a healthy character,
small and frequonfc instead of heavy
purchases being the rule. Furthermore,
it might be noted that some branches
of tho community, as, for instance, tho
farmers, were slow to feol the trouble
which bo far has been largoly financial
or industrial, and not agricultural, aa
in provious years of stress. Given tho
lightening or tho present stross in the
monoy market, a thing which may bo
reasonably lookod for with the quieting
down of trade, though perhaps delayed
by necessary heavy borrowing by rail
roads, a rather quiet business may be
oxpectod until election possibilities be
come certainties, and tho next growing
season gives somo index aa to tho crops
of 1908.
Ijjij Assessed Valuations in Utah, 1907.
' Vjjyj The following table shows the assessed valuation of proporty of nil kinds In tho twenty-woven counties of the State:
: iH ' P X w g h ok on h
m IB b n a 3 2 P .2. Sr2 o h o
II ?a -83 F o gg, 3 a" g
; i Counties. f ?? . l j S
IjflM n.'uver 1$ 360.140 $ 375,110 $ 537,130 $ 672,908 $ 6.242 $ 16,351 $ 209,830 $ 285 $ 8,466 $ 2,186,46a
ISnli Yok Elder 2,562,826 l,106,91o 1,570.503 4.172,995 53,129 64,892 1.382 148,351 31,482 9,705,565
IfflW . Cai-ho 3,647,187 1,406,395 1,901,935 809,018 10.540 95,976 40,173 141,611 9,083 9.064,918
fjjnAi ' Curbnu 513,327 483,290 662,029 1,028,419 6,647 6,895 386,698 326 12,228 3.100,428
HxUB Davis 2,240,665 751,770 772,805 907,290 15,914 66,280 14,818 62,479 11.948 4,834.029
flflfl rmcry 518,934 209,135 480,569 724,887 7,026 1,602 85 7,222 1,040,460
IrBS , Garfleld 231 535 103,615 431,685 , 1,305 J 70S.240
S JI ill . Grand 117,294 67,995 264,590 927.771 9,450 ( 63 8,865 1,396.028
t'tlJl SI Iron 410.149 236.521 607,414 672,327 7,497 9,643 631 7,411 1.960.593
Mil K jUI,b 761.309 815.625 1,008,075 1,111.757 10,484 20,723 1,831,060 722 7,629 16,075 C.683.349
Hill H Knno 127,726 109,384 241.155 : , 478,265
ai : laj ft Mllla-d 614,257 189,410 415.126 1,064,661 11,344 3.29G 408 12,544 2,211,346
V 11 UP ' MorKan- 462,al0 246,340 264,690 301.160 6,424 4.325 136 3,828 1,449.213
ft .if fl Pluto 219,719 166.370 298.228 13,061 323 2,132 15 3 644 735.498
'IraS 1 Rich 478,450 101,835 398,069 j .3.162 rjl 982,416
f' Ml HSl Salt Lake 23,622,995 15,896.921 15,280.605 3,659,428 20,786 746.181 2,92 ,8881 87,800 1,235,813 4S.764 63,617,241
t IliWJS San Juan 21.930 43,271 404.075 469,276
t lmX i Sani)-to 1.866,791 921,660 1,555,727 780,350 4,554 17.784 247 13.050 5,160,163
'WlffllH Sevier 1.057,618 434.320 872.600 572,956 3,234 15,940 8,593 2,965,276
r ail fl Summit 1,293,136 998,799 1.005,811 1,048.492 17.203 39.816 1,297,223 2,185 12,105 6,714,769
"'HUM Tooelo 609.3S2 408,335 1,157.063 1.472,605 8,924 13,479 124.858 767 6,064 21,661 3,822,038
CfiMiM Uintah 577,740 248,567 871,533 32 ,.. 1,697,872
.USIB , Utab 4,449,000 2,755,950 2.634.235 2,703.684 24,638 120,729 404,326 3,353 271,169 34.448 13,491,932
)'r tm Wasatch 801,249 338.945 706,800 160,266 1,869 6,764 14 2,090 2.110,497
' OT iS Waahligton ... 308,930 233,875 306,215 8,346 -. '867,366
' I I'l m ' Wayno 1 107,803 60,492 242,534 410.835
jjlM Wober n.07S.S2.'! 4,075.011 3.329,503 2.392,097 14.431 189,547 14.939 15.995.231
! fll Total $63,964l330$o.2,770,791$38,322,128$25,381,035?240,150$l,435,173$7(177,388$ 153,430 $1,875,016$282,906$161,325,450
1 -
McCornick & Co., Bankers
i i Salt Lake City, Utah i , , zz: ,'
Established 1873
k. .tfl STATEMENT l
MMWmlhW m Mi SWS' -AV,; Furniture and- fix- 3.oW.T4S.52 -
PM W'l 4m, UM - W MZSW'-' Bonds, and cash sel 5.000.04 i'
&wmmW-m w mX ' m&?$mm Mv4j?Zfi critics .... ..3 474 -9,,4
wmm$M jgmmm m M m Jf'mlA i M3'y-: clearing uouso ccr-
-SAML "' -yA . W litA jJmiM ' from other banks 25 000 f.n"
- ---VM4f-Itlfe 3kmZ?' 'Wfe. W4 ' ?"o from bank. I.SSSJOOOI
kWvmt&mlm-1 I JB m- vmm-- -.""-
- " 'rsrtU?w$t I I. J
;i
Facts About Utah
Tho State Bureau of Statlutlcs hae re
cently boon merged with tho offlco of the
State Auditor, and as a result tho roport
of tho bureau this year will appear aa
an addonda to the Auditor's report. Many
of the extended table.) heretofore com
piled also will be omitted this year The
report will cover tho acreage, avcrago
yield and estimated valuo of tho various
crops under cultivation, together with the
financial condition of the Stale-, assessed
valuations, etc. The following table
shows numerous statistics that will be of
Interest to residents of the Stnto and
others Interested In Utah's welfare:
Estimated population, 316.S73.
Fourteen Incorporated cities and towns
with a population of 3000 and over.
Twenty-nine Incorporated . cities and
towns with a population of 1000 and ovor.
Thirty-nine Incorporated cities aijd
towns with a population of 500 and over.
Males. Females.
Colored population 867 513 344
Chinese 636 614 22
Japanese 1,080 S87 1S3
Natlvo Indian ....1,345
Extant of Indian reservation, squaro
mllea, 230.
Allena arrived In United States giving
Utah aa destination during year ended
June, 1906:
Anglo-Saxon 1,439
E,atln D-I-
Slav 357
Hebrew -1
Mongolian 6
Cosmopolitan 1
Total : 2,751
School .population 9S.600
Males (white) 40.424
Females (white) 4S.851
Males (colored) 1SI
Fomales (colored) 201
Attond public school ....S0.2CS
Males 13.110
Females 42,704
Statistical abstract of United States
gives tho number of Illiterates In Utah ln
1900 at 4275. Native born, 110S; fbreign
born, 3167.
Agriculture.
Acres, 1,745,625. or 3.3 per cent of total
area, under cultivation.
Cost of Making Mili
A Canadian milk prodocer figures iho
cost of production as follows: Taking
15 cows as a unit that ono man is
capablo of taking care of, as well as
tho product therefrom, and assuming
that tho man is worth $1.50 a day, wc
must charge up 10 cents a day against
each cow for labor. Assuming that
each cow averages 5000 pounds of milk
a year, which is about six quarts a
day, such cow should receive one
pound of grain for each throo pounds
of milk sho gives, which would bo
about live pounds of grain a day.
Tho cost of the grain would bo 0 VI
cents a day. Adding 12 pounds of
hay, worth $M a ton, wo have an item
of S.4 cunts for hay. To this wo
add 3Ji cents for silage' and 10 per
cent interest on the cow and deprecia
tion of valuo from $50, which is 1.3
cents a day. To this, adding C per
cent interest on $100 for stabling
room for each cow", wc have about 1.7
cents, making a total of 31.4 cents for
the production of six quarts of milk,
or a little over 5 cents a quart. Adding
to this tho cost before mentioned, of
producing a specially pure, clean
milk, we havo a total of at least 7
cents a quart as the cost of its pro
duction on tho farm. To this should
bo added the cost of shippuig to tho
city, which is an additional burden to
the farmer.
Tribune Wajit Ads.
Bell phone 5201. Ind. phono 360-34S.
1 16.S21 nursorlca and orchards.
Total number of farms, 21.S14; average
SO acres to each farm.
farm vnl.
383,424 cattle, all ages $ 9,322,176
117.224 horses and mules 6,147,320
60,984 swine 524.S80
2,900.000 shoep 11.310,000
I 2.000.000 poultry 600,000
i 25,000 stands of bees 600.000
I 1,712,500 pounds of honey 350,000
! 1.850,000 fleeces wool av. 6i lbs. 4,300,000
! $32,854,376
I 19,103,872
$r.2,01S,24S
i Butter, valuo $720,000
Cheese, value 230,000
Evap. cream, value.... 113.000
$1,363,000
Grand total '. $53,111.248
Acres
(Irrigated.) av. yield. farm value.
111.213 wheat, bushels 2S $ 3,557,943
10S,0'J4 wheat (non-Irrigated), bushels 16
45.112 oats. buahcls. . . . 43 1.6n7.0t2
13.124 barloy, bushels 37 315,632.
30,000 sugar beets, tons 12 -2,160.000
6,983 rye. bushels 22 ; 83,556
10.296 corn, bushels....-, 30 V. 231.660
12.113 potatooa, bushels ....... 163 - 9S7.210
358,471 hay (lucern, etc.). tons 3.2 S,60.'i,252
16,824 nurseries and orchards .... lJ41,-.i00
863 vineyards ; 62.000
1.185 :nnall fruits 122.000
9,217 garden products 470,067
726,027 T. $19.193. S72
Private Banks in Good Condition j
The rocnpltulatlon of the consolidated
statements of the tUty-two State and
three prlvato banks in Utah, while It
shows a falling off of a littlo over $2,
000.000 In the total resources and liabil
ities, at the samo time shows a gain In
some of tho accounts which would Indi
cate a strengthening of the available
securities during the recent financial
stringency. The loans and discounts havo
decreased one and a half millions, show
ing that there has been a considerable
calling ln of tho outstanding loans of the
banks. Tho amounts due from tanks and
bankers has also docrcased nearly two
millions, which would indicato a gather
ing In of some money from correspond
ents possibly in anticipation of financial I
stringency. 1
On tho- other hand, there has been a
distinct gain In the amount of cash on
hand and In the savings deposits. The
capital stock has also been Increased,
showing that even In tho time of sup
posed financial stress thero was a dis
position to Incrcaso the volume of busi
ness. The surplus fund and tho undivided
profits have lncrcasod slightly, as would
bo natural perhaps Just before tho time
of year when thero would be a declar
ation of dividends. As thero was a fall
ing off ln the amounts duo from bankors
so there has been a corresponding decroaso
In the amounts duo to bankors, Indicat
ing a tendency to withdraw money from
correspondents, possibly to guard against
any sudden drain as a result of the re
cent unsettled conditions ln tho East,
Curiously enough, thero has been a do
crease of nearly two millions In tho In
dividual deposits, an amount sufficiently
largo to account for tho decrease In tho
total liabilities. This decrease may also
be explained on the ground that many
depositors wished to put their money
where they could get their hands on it
quickly, a thing which would not be pos
sible under tho rule mado by tho -banks
about the first of November, That tho
fnlllng off was not due to any lack of
confidence Is shown Ly tho Increaso In
the savings accounts, which are generally
made for long-time deposits. On tho
whole the showing Is an excellent one and
shows a strengthening of tho resources
as against the liabilities.
Statement of Condition.
Tho following are the statements for
September 26. showing resources nnd Ua-
billtles of the fifty-two State and thrco 1
private banks In the State of Utah at tha
closo of business, September 26, 1907; ;
Eesources.
Loans and discounts 523.917.3S6. 55
Overdrafts 784,264 32 !
Bonds, stocks, etc 3,520,467.03 ji
Banking house furniture and
fixtures and real estate.... 1.195,297 Si
Due from banks and bankers 8,430 S81. 08
Cash on hand S.OGS.W.SO
All other resources 112.415.06
$40,117,154.31 '
Liabilities.
Capital stock, ...$3,577,751.00
Surplus fund 562,110.62 s
Undivided profits 936.222.S0 '
Due to banks
and bankers... 3,062,287.33
Individual de- "
posits 19,678.473.46
Savings doposIts.ll,349,371.S3 -Other
liabilities.. 951.257.23
$!0,117,434.S1
December Statement.
Recapitulation of consolidated ban1c"wj
statement, showing resources and llabll- fe
itlcs of tho threo prlvato and nfty-tvro .
State banks in the Stnto of Utah at tbo 1
closo of business December 9, 1907:
Eesources. j
Loans and discounts $2279.233.24 '
Overdrafts n0Al'i-
Bonds, stocks, etc 3,loO,01G.2a
Banking house, furniture a
and fixtures and real estato 1.057,131.03 j
Due from banks and bankors b,63S,S34.3J. 4
Cash on hand 3,oo2.4S0Gl j
All other resources 77.9.JU
Total $38,0:5,746.71 j
Liabilities.
Capital stock ..$3,5S2.233.75
Surplus fund.... 678.461. 6
Undivided profits 923,779. S2
Due to banks
and bankers... 2,030,05o.S5
Individual de-
p0lts 17,679,854. SI
Savings deposlts.l2.112,905.S9
All other llabil-
Itlcs 1,118,454, S3
$33.025.746.7
Comparative Statement of Bank Clearings
in Salt Lake City For Five Year
Month. 1907. 1906. 1005. lJ!PJ VTSS
January .... $ 29.252.681.70 $ 20.420.6S2.24 $ 15.414.003.34 $ IM'SHS 5 Jn'oTS S200
February 22,311.901.91 21.S02.311.67 1S.925.S04 61 n..4o.22I.32 10,; .o,.s
March 23.23S.064. 17 20 304 493.38 17,900.779.47 10.??7'?n?'i'? ??W015.M
April 25,672.643.84 20,897,292.07 19.996,330.30 10.o2 l,b03.U 202-00
May 25,146,596.94 1,0.571.513.25 1 6,309,404.0S H.b''.SSoll "'700
June 25,607,604.41 25.667,930.53 19.67S.07S.99 12.301.834.56 .;y '33 M
July 31.143,031.36 30,959.599.25 24,258,635.52 ll.Sb2,63,.j- '419 346.00
August 27,231.865.80 33.000.000.00 25.316,750.87 It.Sjjl'hV'Se 1111912.00
Septonibcr ... 24.300,465.50 32,151, 02S.19 10.816,315.66 ll,o6S.S6l.Jb om'isI.OO
October 28.510,423.82 22,323,738.31 11,054.885.53 13. iSS.j"?-' 7 gSj; 26;.oo
November .... 16.559,030,31 19.701.703.37 11.530,737.27 lS,o30,3bl.O ''S:?'moo
'December ... 13,500,000.00 21.523.455.09 13.141.31)1.45 lS.l30.36i.0U 1Jj
Totals l$297.577,300.1SS2S8.334,330.o$211.559.024.09$157,7S0,905.72SlS3, 1-
'Estimate made December 23. . -
Condition of Salt Lake City Banks National Banks Dec. 3 State Banks Dec. 9. j
V-..;, NAME OF BANK. ?p 2?"'' ' f?
: I : : I s
Commercial National Bank ... $ 200,000.00 $ 8S,961.60$ 761,10S.S1$ 1,530,401.5S $ 1,039,1S5.74 343.U9.27l Jf?f'g? 6-ls.'ll3i39
Deserct National Bank 500,000 00 666,9 IS 43 1,422,803.15! 1.S62.871.7S 2.107.325.35 1,056.102.16 l.lvr,oii -
Deseret Savings Bank 100.000.00 6S,206.30 2.461,385.02 1,224,515.33 SS1.003.06 'i?2'Sin 01 " 1.241.949-1$
W. S. McCornick & Co 250.000.00 04.106.33 S92.741.35 5,579.508.04 3.519.74S.52 474.202.24 1..0- 's26.SS7.i8
National Bank of tho Republic 300.000.00 2,220.442.22 4S0.121.32 3,180,954.13 3,325,34S..3S 612.143.03 SOS.h-""51 55,310,06 -i
Salt Lako Security and Trust Company.- 275,000.00 64.743.39 1 19.S94.3I 1,262661.17 3,870.50 530,997.00
State Bank of Utah 300,000.00 217.257 S5 515.37S.59 1.131.8S9.25 1,050."298 27 193.070.90 'ZjioQ 99.S04.49 '
Utah Commercial and Savings ' 150,000.00 41,001.02 .13.359.56 558,583.95 510.321.39 G.SS1.99 . ll-i, 17 345.33S.83
Utah National Bank 200,000.00 86.309.11 630.043.71 437,055.26 712,712,95 220.145.63 3G4,4i-' 310 982.38
Utah Savings and Trust Company 250.000.00 22,662.10 1,0S0. 317.15 693,822,53 196,485.00 -'Jn 502,609.25 ,
Walker Brothers : 250.000.00 186.616.96 221,506.51 1.773,707.16 1,782 4S0.67 438.250.00 ?JH'S2j-ig 152.08536 .
Zlon's Savings Bank and Trust Company 200.000.00 117.026.88 4.825.214.41 3,699.632.59 70826.98 iHj---j5 ,si 2P6TOS ;
Totals , I$2.975,000.00$l, 783.525.231$ l,360,ir.g,00;34.580.872.y7$20Ts'2S.042.S9$5."l34.4S7.26T$6.
"Duo from Banks and Bankers" Included with. "Cash and Exchanges."