The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-08-19
STUDY TROLLEY LINES
American Electric Railroad Men
Thick In London.
DEPEW IS INTERESTED
SENATOR TALKS OF THE FINAN.
CIAL SITUATION.

Copyright. 1900 by the Associated Press.)
London. Aug. 1S.-There have been
enough American electric railroad pro
motors at the Carlton this week to
carry through any scheme for rapid
transit in London which can be de-
viesd. Y. L. Johnson CT Brooklyn came
from Paris Thursday, and under the
same roof were w. L. Elkins and p A..
T.. Widener of Philadelphia (who have
since gone to the cOntinenO. and Ed
win Johnson. representing the Edison
company. Those men have been study
ing the Central Underground railroad.
Mr.. Ekins informed a representative
of the Associated Press that he and his
associates really I'd no definite plans
for work in London, in spite of the fact
that they have been in consultation
with several Of the city railroad own
eTs.
The outgoing transatlantic steamers
today are crowded. Senator Chauncey
NJ Degew sails on the American Line
steamer New York.
He spent the last days Of his stay
here in examining the rev electric un-
LargroUnd railroad. He has also beer
in consultation with British fnanciers
who are specially interested in the
ability of the United States to make
loans TO- Europe.
New York a Financial Center.
The senator said: The sudden de-
y5Iopment of Our industries and the
immense accumulation Of money grow
ing out of the fact that Europe is pay
ing $500, 100000 annually for American
products has not only brought the
bank rate and call loans up l and
p per cent. respectively, but the west
ern banks are now buying paper in
the east, because there is no demand
for money. The fact that half the Brit
ism war loan (all if it had been per-
mtted) was taken in the United States
demonstrates these conditions which
have already made New York one of
the financial centers Of the world. If
the conditions continue, and l have no
doubt they will, New York will soon
be - dangerous rival of London in
financing the government enterprises of
the world The rapid Information we
are acquiring regarding the industrial
conditions Of the world, the necessity
Of finding market for our increasing
surplus products. and also our active
participation in the solution of the Chi
nese problem, tend TO make New York
an active competitor in the schemes for
the development of the far west. 1t
is a near possibility that the New York
stock exchange viii actively deal in
many foreign stocks and bonds.
The United States, with 5000 miles
Of ocean from European governmental
complications, viii never take a mill
taut part in the rivalry and jealOusies
and wars of Europe. These very mis-
cries. the wars, make the United States
every year stronger as a financial fac
tor. and will, believe, make New York
the financial centar of the world. Up
90 two years ago the European cabi-
nets took no interest in American di-
plomacy and finance. America was re-
garded as a granary in times of poor
harvest on this side and as a dumping
ground for surplus population. Now,
no cabinet in Europe makes a move
without considering what is the posi-
ton of the United States in the mat
ter"
Many Americans There
The tide of American travel is still
strong towards London. Many resi-
dents of the other side of the Atlantic.
having exhausted the Paris exposition,
are recuperating in England, and the
hotels frequented by Americans are
filled this week as they have not been
sine. the opening Of the season.
Goa hing is the delight of most of the
Americans. Since Albert L. Johnson
Of Brooklyn, n. Y, drove his six horse