Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-04-02
WORK HARD ON BORROWERS
Hope in London that financial Situation Has
Improved.
Delagoa nay Award "ReguIar
Floorer" II Allows About sGO,-
900 dlIe Tor the Hallway.

New York, April 2-The Times Lon.
don financial correspondent cables:
Last week was hard on borrowers
but the worst is now probably over for
a short spell. The market. however, at
the end OF the quarter Is some el00OO,-
900 In debt to the Bank Of England, so
that It all depends on the liberality Of
government disbursements as to wheth-
err this money can be paid back or not
At present the government is pour
inE out money at the rate Of seven or
eight million pounds a week, and the
quarterly dividends will be paid this
week, both on the British and Indian
debts. Also about fl.3OOOoO IN treas
ury bills viii be paid off, with these
various helps, and with currency soon
coming back from circulation as well
as the release Of, say, e50O0,OOO in
credits, accumulated by the Joint strike
banks for their monthly balance sheet
shows-'wlndow crossings we call
them-the market may shake Itself free
from control. This freedom, however,
cannot be maintained, and ! conse-
quently, as much as ever, expect con-
trary money rates all the spring
Up TO last Tuesday discount kept hard
at four per cent, but in anticipation OF
greater ease soon the rate was yester-
day about 3.lS per cent. In another
direction also this hope is revealing It's
influence We had more bids Tor sup
port by new enterprises and more
money asked for existing corporations
last week than In any week before dur
ing THIS year, ana as a matter Of course
another colony, South Australia this
time. has come for the regulation mill
Hon. But credit Is stfll shy and sub
scriptlons by no means enthusiastic as
the fact that a good electric lighting
company has 10 offer four per cent
commission for underwriting a small
issue OF debentures sufficiently proves.
Even colonial loans are now all under
written
The Delagoa Bay railway award has
been a regular foorer, and the Ian
guage addressed IN the direction Of the
arbitrators Is quite unfit for publica-
ton. No wonder, FOR the holders Of the
o0mpany's securities regard an award
Of E2,0O000O as a sort Of minimum. and
behold, the court says; You are only
entitled 10 about Gss200O, including ac-
cumulated interest"
mo more Swiss arbitration courts for
me- the angry stockholders cry. and
promise themselves fun. u not revenge.
when your people begin to speak.
The award Is undoubtedly inadequate.
In that no damages are given against
the Portuguese. or may be both the
Portuguese and Transvaal govern
ments, for a shameless confscation.
without shadow even Of decent pre-
text. Before, however, condemnlng the
court II Is necessary TO know the exact
terms Of reference. II limited 20 find
ing out the amounts spent on the line.
then the award Is ample. since Il works
out al over $4,000 mile. and the
blame FOR the lnadeQuacy must lie al
the door OF those who settled the terms
Of reference,
Portugal is reported TO be pleased and
alleged 90 have the money ready 20 pay.
II SO, political complications may not
arise which Is so far good
Bears OF IlntO copper shares still
exist here. strange 90 say and have
been getting badly punished lately.
Paris and New York are complete mas
ters Of the position not only in shares
but metal advices, thence declare quo-
tations are going much higher. Posi-
bly, hut longish experience leads me
20 distrust most when manipulator's
confidence IS most unbounded.