Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-06-27
Trembling for German Credit in
the Autumn,
CAPITAL AND CREDIT TIED.


Now York. June g6.-Thc Times Lon-
don financial correspondent cables
we have had an anxious week. only
partially Frightened ni the close by the
formation OF new French ministry.
At last the Paris bDurse has begun 90
take alarm. and ali the early part Vt
the week poured tntuH and African
gold shares into tho London market
Fortunately our stock exchange had
previously sold pretty freely and therc-
fore took the shares without much
nlnchiug. ..
"suM tintos at tho lowest were $40
under the top price, and ulher lhlhh'
ghrunk In proportion. Thursday eNeh-
Ing saw u rally ANA since then the
markets have been UtnaulUI but We tie
not out OF the region vf scare yet tur
the TrluHvual dispute ~ uH ucut" aA
ever. Until 10 iH settled business inu't
remain bad. because the people refuse
to speculate. and dealings therefore arc
confined to investments. which the
markets cannot live upon.
TO add to tho difficulties money
again threatens To- grow dvarcE a
free How uf your gold To Europe may
prevent a real atriugcncy, but bankers
who know the position abroad Hull
trpmbie for German credit Ia tho hu-
tumu. Tho itolChsbunk has had To
raise IT, discount uf notes 90 ~ per
cont. which means Oh per cent Tor nd-
vuncca un securities, and Il II asserted
that the banking business was never
In a tighter place iu Germany since
the empire was formed, Al available
capital and credit are locked up ln see
curitioH which cannot hv realized, and
tho only hope ~ said 10 lio in the FUR
thor unloading uf American railroad
securities la Now York Co pay Tor gold.
The banks not iu London. alone. but
ull England over make up their half
yearly accounts on June auth,uud must
call ut least ton million pounds ilnnt-
Ing credits on tho market iu order 90
/ display tho proper amount Of cash IN
hand and ut the Bank uf England.
Were thoir figures tu be- made up With
out this window dressing We would
most likely have "a banking panic. the
process, therefore, H. necessary in self.
defense, but highly lnCunyvnicnL and
the next ave CT Nix millions may have
60 be- borrowed. Even then u will be
| pinch ana scramble and hiEh rates
! for short credits
"up To within tho last two days
money could be- borrowed FOR the week
/ az ~ ad ne per cent Today rates are
/ ga per cent because the week carries
US INTO july ANAH aNNNh N'fh NANNh ~
/ change money viii probably cost on an
| average ga per cent. although the nC-
count then 90 De settled viii De- less
| heavy than 10 usual. 49, Tor discounts
! they have passed the highest point Tor
| the month and viii slip back again to-
| ward per cent next week because
] gold ~ slowly drihbliuE into the bank
] This squeeze ~ quite temporary and
] our market from one point of view ID
| comfortable enough II ~ danger from
l without that we have Co dread.
"rhu bankers association met Thurs.
l day and discussed plans for lncrclH-
| Ing ltH gold reserve, now almost NIL
/ but merely appointed q committee u
l consider ana report Nothing win De
I done unless under stress OF panic
] because the banks an strain after high
I dividends und are too Jealous ~ each
| other 60 take concerted action, Five
l per cont Of tho deposits 81 permanently
boarded IN gold ana not seen much
but we lodged the bailinH aud kept
| solvent, looking un nothing ru Ions
that we shall continue the game under
| breaks somewhere,
Nothing particular e. doing In SO,
! curitios 10y the general public PROBES,
/ SIGNALS dnhblc IN Atchis0n ana Nurth,
/ Crn Pacific, preferred, and IN Denver
or occasionally nnltlmurra. but John
/ bull ~ not playing lie prefers mines
and especially wildcats. Money hn,
been found though for the Central
Cuban railways offer today"