Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-06-24
Construed to Mean That Europe Is
in Need Of Money
SEVERAL CAUSES ASSIGNED
Turn for the Beuer. In wheat aud
Flour-Grcat Gain In the Vol
ume OF Busincss.

New York, June gl-R. @. Dun a
CO.'S weekly Review OF Trade will say
tomorrow! The outgo Of more gold this
week. H00o.oOO no Tar reported. makes
% clear that Europe ~ In need. The
French ministerial crisis has been
grave and prolonged. the collapse of
herman speculation iu Industrial stocks
threatens some trouble. but perhnps
the South American uncertainty causes
the most disturbance. whatever the
cause. Europe needs money ana cannot
claim Us own from the West this year
but must borrow.
Exchange and trade balances show
that this country ~ not called upon to
pay, but tho money h worth mor~ t1
lenders abroad than Il IL here. Home
hnancra az. most satisfactory Revenue
fnllH behind expenditures for the fiscal
year less than SlOOUO0OOO and but f0r
A.aQ,upo.VO0 war expenses. including pay
meut Tor the Philippine Islands and
Tor Cuban soldiers, the revenue ex-
elusive 81 that from the war taxes eN-
ttrih ordinary expenses. Trade bal.
uncv1, ln spite uf exports from New
YORK 10 per cent less than last years
ana Imports % per cent greater. atIll
promise "a large excess uf exports Tor
June.
"Nor Is there any substance In the
Idea that large foreign sales OF recuri-
ties nrr moving gold The best evidence
1tihiuahlv shows that in January and
February about &s,2j0OO0 worth " He-
gurilHs came Go this side and since
February not murc than SLo00,000 Ia ex-
cess ui shipments.
In character, transactions have
been ut thr trading and not Of the I'M
NvHiWrnt sort Stocks here have weak
unull but almost exclusively ln the In
dustrIulH, which foreigners do not
touch, these declining S2.ON per share on
the average this week. while railroad
stocks have averaged decline % only
20 cents per share Earnings Tor the
FIRST half uf June urH better than f0t
amy previous month this year 10 per
cent larger than last year and ll.3 per
cent larger than iu 1899 tho granger
roads gaining most largely over last
year iu Hglts Of the reduced move
ment ~ grain.
I'm tho great staples there Is a turn
flr the better. Exports of wheat nuur
Included, Tor the week have been o.
ifa,G,a bushels. against 3S0o.sG) bushels
last year, and in three weeks g. 500 2f2
bushels. against li,OO5,7as bushels last
year.
Corn exports also continue large. O.
2b3 800 bushels against g.5ii,723
| bushels last year
"a sharp fan In cotton also encour-
ages exports. These are facts which
preceded orders for gold exports this
week and do not result from them. but
show the prospect ~ "a larger outgo OF
merchandise iu coming months.
| wheat receipts gt tho WDEt, 1905
/ hsS bushels Tor the past week against
/ 3ig2719 bushels last year and idi0dig
| bushels IN the same week In 1897, show
| un extraordinary movement from the
/ farms Tor the season, indicating no HuH-
! piplun there of shortage. The fail Of
| cents ln wheat ana In cotton from
] G1l Co Gl2 cents indicates that speculu-
! ton based ON the hope of short crops
! a. growing weary
"rho tcytIlo Industries are much be-
! hind iu prices. although w1llrna are
| now steadily rising and are y per cent
] higher than nc their lowest In March.
| The goods are ln much stronger de-
] maud and wool has advanced from 1901
] cents Tor domestic. taking tho average
/ uf 900 quotations by Coates Hrothera,
! though tho buying "a largely sprcula-
| tive. Ga cotton goods tho advance has
l been small and though business iH eN'
cellent the demand fairly meets the
/ supply
] business might seem N questionable
/ safety were % greater in iron pruduc'
| ton resulting from an actual excess
| OF demand over supply ana not from
| ejaculation. Bars are stronger by J.
| por ton az the East though Iron lH 81
per ton castor nt fltt.hurEr but a ar
/ ference of 81 per ton lu favor Of stoc
makes the demand FOR iron larger, II
d. Interesting that q lo.o0O-tun order fol
plates for two American liners 10 b,
built hy the Cramps has gone 90 Chlcn'
30. the Eastern works being too tull
orders for finished products show No
decrease lu quantity and FOR most lines
as for rails ore quite often refused
speedy delivery being Impossible.
"FniIufps fur the week have beer
| i7s In the United states against 2S
lnat year. and IS In Canada, against J.
D