Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-04-10
IN THE ENGLISH MARKETS.
business In n state OF suspended Ant.
niation-E,crybcdy Awaiting This
Weeks Settlements.

New York. April io.-Thc Times Lon
don financial correspondent cables ;
although our market IL not plung-
Ing about as yours apparently ~, we
are not without our nnNictlca. Money
has not fallen In price IN the way y
.atit tuatvd anu the market " htili
In the hands OF the Bank Of England.
say. 80 much depends on you and ON
the continent Everywhere credit In
strained by the speed with which new
enterprises have been placed on tho
market All ccntcrs OF credit. there
fore. require more cash, and the puzzle
", with most VI them. how TO gct 4.
In their efforts To come by enough.
one or two OF them win have to endure
considerable iorses. and what We have
TO fear IN that we fnny be drawn into
the vortex. our dealers In credit are
accordingly nervous and try to protect
themselves by working the rates Of dis
count up little. A yet they have
not been very aucocnsfui. but We may
get within the noighborhood OF the
Bank Of England rate In another week.
should the market elsewhere not calm
down. brokers wcc holding out for
gls per cont yesterday afternoon On
three months biiih.
business II Ia n state OF suspended
animation on the stock exchange. The
Faster holidays interrupted II and we
have not really resumed. Everybody
In waiting to Gee how the settlement
goes on next week before beginning
again. II will be difficult one. al
though you VIII not see such ncnna-
tionnl rates for money quoted In your
London kilograms ~ yours nrc To us.
AS matter OF fact money has
been at from 10 10 per cent for years
on many OF our mine shares, and mo-
body has thought anything about u.
When one fellow was tired OF paying.
he slid out and allowed the next maj.
to have his turn. Hut just now the
difficulty lies In there being no next
man.
The markets are choked up with I'M
ralahlc securities and we all are. In
consequence. very tired. Therein lies
our danger We can carry on and hold
prices up ~ long aH no sharp pull In
made upon US, but let any other mar
ket stumble and nut out hand 10
grasp AT assistance here and we shall
have all the mob Of overloaded specula-
tors trying 10 escape at once.
1T appears as n the wrak~r she con,i-
mental markets really become, the
stronger they seem TO be. Not for years
has money been 10 dear ON the Paris
bourEe ~ II was Mt last weeks end. at
the monthly settlement, and I am as.
rured that the adjustment OF accounts
were attended with no small anxiety
IN several directions. IL nude no dif-
ference TO quotations or TO tho temper
OF the French rpeculators. A pause &C.
cured because we were holidayinE. but
on Friday Paris resumed buying and
ran Rio Tintoa share up To az.
equal TO tSia for the old ten pound
shares. They also bought South African
shares 10 n small extent. and yet no
money market In Europe In In n moro
Strengthened position. one significant
fact Tint NfOktsa atir market Ii llkekglFa
TO be quite ~ heavily burdcned M In
your own with undigested capitaiixa-
lions. In the reduction our municipail-
ties have to submit TO IN the prices at
which they can sell their now irsucs.
Fifteen months ago the corporation OF
Liverpool failed 10 place n ~ per cent
loan which II offered at minimum
OF pS. II now comes forward with two
thirds OF the amount then offered and
asks only 93n. This IN only one OF the
symptoms that prove we have been go
Ing too fast"