Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1896-01-11
THE WEEKS TRADE.
Has Been Marked With Uncertainty
10 tho Money Market
HINGES ON HE IOyD IsscE.
Utah Farmers and Other Producers
Most Rely Principally on Homs
Marksts-High Rates the
Cause.

The week Just closed has been full Of
uncertainties In the financial and
speculative markets. Everything has
hinged on the proposed bond Issue.
The officials at Washington have kept
Spectators guessing. Tue gold bugs Of
Wall street, early made up their mind.
that the Morgan syndicate ard their
satellites were again b plunge their
hands AMI arms INFO the treasury, and
tho ADM nislrAtlon would from nsccs-
city or choice become tools Of the
money kings.
When anything from Washington
was received unfAvofable to their
plans, calamity lhuwls, and money
20 up, and stocks, bonds, tho produce
OF the farm and everything the toilers
are Interested In 90 down. Money IL
locked up and made 90 scarce to forced
borrowers In order 10 manufacture
sentiment In com norolal centsfa that
the same may be communicated 10 the
representatives Of the people In WASH
| iDgton to force issues entirely In
tue Interest OF the money classes.
To this end London anu New
York cooperate together to carry out
prtc0ncefted plans. The exchange In
Europe are opor for business from three
10 four hours before those OF New York
aud oAn Je ami often are manipulated
fot the purpose OF forcing financial
msA.urss on this side. Gold A. carried
10 and from Europe to a'sist IN this
scheme, iometimes going In opposite
directions OF tho same tins. War
rumors arc manufactured one hour
only TO be- with as much force anu
Plau,ibiliiy, denied the next, but still
ell this has lie effect aud millions OF
people are swayed 10 aud iro In tho
nnAuciAl, commercial and speculative
maslstrom, and ali this Is done by n
very few people, probably not to sx-
coed one hundred on both sides OF tho
Atlantic for tho purpose Of personal
gain.
The administration at wsshipg,on
this week sprung n surprise upon tho
money sharks by it, efforts In favor OF
a popular loan which will tost the
patriotism Ms well ~ the financial
strength OF the middle classes rs no
other move could, and II successful,
|
blow, Temporarily mt least, to this
money syndlcates; from lho latter
soutcs determined opposition may be
expected aud heroic measures evoked
for to maintain their supremacy.
Stocks and bands have not nuctu.
ated Ne Wildly during this week A. in
tho week previous but tho range has
still been wide enough to snow how
sensitive the msrket IL, aud how little
IL would take to precipitste . panic
which might DO far reaching, ~ d NJ
long as these Conditions exist
business anu permanent improve
NETS must necessarily DO trelnTded.
Tue staple products have been strong
and weak by turn. The iron industry
10 halting and shows signs Of weakuts.
from the lack OF ordefs upon tbs higher
range established a snort time ago.
Wheat has had fluctuations OF ever
cents anu closes the week with a slight
gain, but does not maintain the little
spuri Of strength which the statistical
position seems 20 warrant. The visible
supply In the United States and Cana.
dA 10 about twenty-five millions Ices
than one year ago, while Europe has
very light stOcks, and the crop news
from countries now harvesting IL dis
oouraging, while tho prospects, OF our
own winter wheat crop are much leaa
favorable than one year ago, tho acre
age sown being less, and tho average
several points lever, yet prices are not
materially different from those prevail
ing one year ago and business for
specu lative grades 10 exceedingly light.
Corn shows considerable hrmness
aud has made anu sustained an al
vance OF about cent, though this 1890
crop was the largest ever prod uoed, but
England seems disposed 10 take our
surplus with more freedom than pre-
viously. Hog products have made
material advance from tho low prices
reached a. month ago and at present
pfions compared with other farm
produots should net good pont TO the
farmer ana make the feeding OF grain
far more profitable than marketing the
grain itself, saying nothing OF Tue fact
that tho soil 10 partly enriched by iced
ing on the farm. Cotton does not show
much animation, and revised ssli'
mates remove all ieATs OF soATci.
ty OF that commodity, and chances
for higher prices seem very slim.
Wool "drags Its slow length along"
aud while for weeks nrmness has been
noted every little advances brings oul
large quantities and prices are not such
a. 10 be- remunerAuve TO the pIoduc.
err.
Their hopes have been raised q little
by prospect that Congress would log.
lslate In favor OF the wool Industry,
hut present indications would hard y
sustain such hopes for the immediate
future. Utah producers OF all prod ucti
from the farm or range are handicap.
leaves but little hope OF their success
fully competing with the produ
nearer the great commercial conters
and the home market, under ptesen
conditions, 10 and must remain thsil
mainstay.