The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-10-28
FINE CHANCE TO
MAKEGO TURN
Dutch Financier Sends Word
to Amsterdam to Buy Amer
lean Stocks Now.
GERMANS ARE CONFIDENT
AS HAVING PASSED.
GERMANS ARE CONFIDENT

Berlin, Oct. 27.-The violent financial
| squall in the United States is regarded
mere as having passed as quickly as II
came up The great Berlin banks are as
surfing their customers that the crisis
which for week has gripped New York,
is relaxing and that conditions in Ameri-
| ca are so sound that no deep-seated con-
sequences can follow. A REPRESENTATIVE
OF powerful Holland financial interests.
VINO happens TO be here, has sent word
10 Amsterdam that now is the time to
invest in American securities and many
Berlin brokers in their letters TO ems
toners advise them to go in for American
STOCKS now, while they are under a pres
sure that probably is only temporary 1t
Is the large offers made i'm Europe bv
American holders that have caused
American exchange to rise to 426 rate
which the Vossische lettings financial
reviewer says is without precedent. The
demand for transfers. which was due
chiefly to the fact that many investors
bought American securities i'm New York
IN the belief that low prices offered IN
usual inducements, was so heavy that
many applicants failed to get accommo-
dat1on. The market assumes that the
English bank rate will be advanced on
Monday, which will be followed imme-
diately by an advance by the Reichsbank.
Cannot Last Long.
While the crisis has shaken Germany's
d
banks and individual undertakings. there
is a widespread conviction that it can
not lead to a protracted period of pros
tration. The German financial public pos
sesses a large store of optimism regarding
the economical resources of the great
republic, which the mismanagement OF
railroad directors and individual bankers
is unable to outweigh
The Berlin bourse, which was remark
ably steady during the week. is likely to
feel the effects of the crisis in New York
more during the next fortnight than pre-
viously. because it must resist the ten
dency TO export gold. as exchange is not
equal to pay for large purchases of
American securities. The latest Amerf-
can news and cablegrams from private
bankers have had a reassurinS effect up-
on the financial community. Especially
does II make a good impression that the
leading trust companies. which were eX-
posed to heavy runs, were able to with
stand the onset of freuZjed deHositOrs II
is believed here now that il the reports
from the United States continue fairly IA
Norable for few days the volume of
German buying orders sent to New York
VIII be considerably increased
Much Moralizing.
Much is being said here about the
passing nature of the disturbances and
figures are being recitcd of the Anoerica1
crops, railway earnings and Increased i'm
ports and exports. There also is 4 good
deal of moralizing over the need in the
United States of COVER lment control over
the currency and on the necessity for a
reorganization OF the monetary system
so that it will be able to bear the re-
quirements of immense prosperity and
Withstand sudden gusts of unreasoning
panic
The bourse is somewhat nervous over
the reported financial crisis in Chile It
Is believed. however that the reports
concerning it are too pessiTuistic. German
I banks having connections in Chile admit
that the conditions there have been bad
for some time. but they have no Infor-
nation indicating that the situation has
become acute.