Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-01-30
sInoks Is LONDON.
Americans Take Tumblc In Favor Of the
ksmr tircu.

Americans Take - rumble In Favor Of the
Nsmr Circus
New York. Jan. a0--A dispatch 10 the
Times from liz London financial cor.
respondent says.
our market has been rather dlHplrlt-
cd the last week over the fact that th"
bank rate did not come down to per
cent ON Thursday. The figures In re-
turn would have allowed u. but the
nave must come next week. nlthouHh
the bank N losing rather than rccciy-
ing gold from nhrond. Last year YOU
Intercepted nearly all the usual Aus
trnlinn supply. taking about ei,eQo.0Jo
from sydney alone aud there II still "A
demand here for both New York and
berlin account. The INFLOW Of revenue,
however. viii now help the bank ana
tsit0o00 In coin came back from active
circulation last week. Adding the
notes returned, the reserve has risen
Egip.oOo, and the morr " grows this
way the greater power VIII the bank
have over the market. hut 10 Ect this
power the rate must be- lowered The
effect Of an aerial figure. such ~ 1is per
cent. now, u depressing the open mar
hot which works down and down In an
'frort To- drag the bank after n. Some
money now II less than ! per cent ON
call rrd y Il n struggle TO Keep the
discount above per cent.
IiurineHs IN none the less prosperous
and expanding, the last half year be-
Ina u nourlrhing one In our banks. all
of which have made excellent profits.
The balance carried forward In Paris,
for Instance. II over lG0.000, after pay
ing nineteen per cent dividend. or an
one director said Co me. Just about the
amount stolen. This theft has been the
sensation OF the week. the thief. un-
doubleday onr OF the banks employees
who WIS unable to cash the notes. has
already sent two-thirda OF them back
The rest viii probably come back or be
destroyed.
The stock market Ia rampant, hut
the business done In your railroad Sc
curitics Htill shows a great prcponder-
nnce Of sales by the old time holders
ana our gamblers are boHiowlng more
attention ON kniilrn than on American
rails. The attraction ~ the latter.
however. win Increase aa prices ad-
vance. therefore, speculation In them "
developing fast. hut I would not adj
wise you 90 trust 10 being able tn
unload again soon here what you have
bought with such vig0r. The moment
you attempt TO do 10 the market will
fall "a pieces because there IN not the
stamina Investment buying alone can
give. bankers tell me that loans on
American stocks are not increasing The
money lent ON your stocks II carried On
tho weeks stock exchange settlement
at cost on an average of less than
AZ per cent, let the average rate all
vance To Gi. per cent ana We should all
be- sellers, ~ the market IN soaring.
the quotations on New York Central.
Milwaukee, Northern Pacific and such
shares are tempting people here TO sell
short. n IN expected here that you will
make them pay for this aud the more
they sell, the better for the market
flggcrr. Copper ~ going at ESQ To
those In the swim here ANA I predict
that copper shares have sim long
way to mount. The market for them.
all the same, IN manipulated from the
inside and decoy shares. like RIO
Tlnto, are little dealt In by the house
stock exchange jobbcrr are nervous
regarding touching them. They have
no mass Of shares TO handle and are
always being caught This applies To
much NJ the business done In the Kafilr
circus. NJ we'll In short caution with
reduced rather than Increased commit
mcnts IN what the general position OF
the London market inculcatea. The
continental markets are better. thanks
To your money, but Paris IN heavy, oW-
Ing 10 the end OF the month settle
ment Berlin N also not buoyant, hut
your bankers have helped both France
and Germany To easy money.