Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-09-11
LOOKS FOR SLUGGISH YEAR.
Saws There viii Be No Panic in
Utah, However, and Ad-
viseS Caution.
Prominent Banker Discusses 1--we Top
it.--IIis Attitude ON the Philip
pine Sugar Question.


The limit IN the far-of pleasure spots
Of Europe. w. S. Mccormick, who re-
Turned this morning. kept an eye on
affairs In America and comes back TO
his home city after an absence extend
iar over two months with as clear an
idea OF what was going on as II he
had been right at his desk in his bank.
Mr Mccormick is one Of salt Lakes
most prominent citizens. he is a keen
observer and broad thinker; his opin-
ions on big questions Of the day are
always worth while and are given
thoughtful consideration by men who
follow the bigger things in Americas
daily history.
Mr. Mccormick was asked II he had
A noticed the uudarcurIcnt of feeling that
next year Is 10 be one Of panics. 1--WE
have had our panic he said but the
coming year will be a sluggish one.
There is too much capitalization and
too little money Business has been
conducted on paper for some time ana
paper transactions have been growing
az an alarming rate Every form Of
Il business has been expanding and
Spreading whether conditions justified
90 or not. The small merchant has been
carrying on a business OF 100000 on
4 connection ! mean the merchant has
. been building and growing, borrowing
10000 Tor the purpose. This has got 20
4 stop ana is stopping. The slowing down
i win be- just the opposite Of a panicky
opera ton: IL win be "a slow, sluggish
year Ii will go hard with mercantile
/ ventures and other institutions who
4 have been able 20 borrow whenever
4 they so chose heretofore why even
4 the railroads are not able TO borrow
the money they need so badly TO buy
4 rolling stock and build new tracks.
Things have got TO shape themselves
and luckily they are doing so. Were
aIairs TO forge ahead there would come
sudden stop, which would hurt every
9rid YOU see the reports quoting
Mr Hartman as saying tho coming
year would be prosperous one large
y because he found conditions
throughout the west so lively? And
also his assertion that Wall street is no
barometer of the country con-
diuous|
% was told he made those assertions.
SO far as Wall street is concerned l
believe IL is a barometer of the ooun-
1 try's condition. This much is certain;
tha whole country is affected by what
occurs iu Wall street. More persons
are Interested in stocks and securities
Of an kinds than we imagine and
decline In Wall street is depression
abroad
RECENT PANIC.
40 YOU think the recent panic I'm
Wall street was due as is declared
10 the attitude Of the present admin
igtmtonT
I'M q measure YES. The stockholders,
people who invested honestly and have
nothing 10 do with the manipulation
OF The companys money suffer when
the stock goes down and when a cor
porauon is involved IN legal embrog-
los the stock of course goes down
PHILIPPINE SUGAR.
Did sou hear that the resolution.
protesting against further favorable
legislation relative 10 the Importation
az Philippine cane sugar was voted
down at the Irrigation congress just
Il ended at sacamento2"
Eyes, and ] believe that step o.
II wise one. There is no need OF such
legislation The west is raising sugar
beets enough 70 supply the demand
i'I WIS commodity the product is bet
lrr lhan the island Offering and Is
raised right here az home. why should
Il We cui The tarin on cane sugar.
DEPENDS HARTMAN.
Il What s your opinion. Mr. McCor-
4 hlgh on tho railroad situation through
II oul me Wastf DO you think the rail-
II roads claims that they are being ham-
n p0rll fair onc2"
W. Hil know the west has grown
Iar Rster than IT'S utilities have ex-
III Ian1rh We am know that the railroads
an. unable 20 handle the business being
showed 40 them constantly i hardly
Fo. radical steps against thcm. Take
Hailndns case as an illustration:
lt DOB the limellght. as they say.
"L Hartman took tho Union Pacific
railroad when a. was sunk 10 the deep
N, depths of insolvency. lie spent
Wuli"os 1f dollars 90 make II a quick,
NrI equipped, efficient system. and aft
~ years OF hard work and vast cXpcud-
Wlf.e has succeeded. Stock that was
loi worth the match one would light 10
n'Iu 10 up at one time Del now yielding
WniHume dividends 10 its holders Mr.
hartman rs paying heavy interest ON
IN. dInerent issues. Tie rs stIl in-
proving that road ana several others
L1t what be- if doing iu Salt Lake. j
hink people ought 90 consider those
llA and avoid playing to the CALLER
ono prominent government ON
,m doing Reason, not lung-uoWcr.
4o1.I rule today lf wrong doing a.
discovered punishment of course should
loloW but thoro should be- sane prose-
'1uon. not persecton.
EUROPEAN FINANCES.
Fa#sn countries ike Austria. Ger
@ nd others which I visited DO
ai FL. financial events are coHccruof
.n"Y miFht bc expected 90 DO. Der.
s Watching her own HnarI
oF as there seems to hc an un-
Ini condition There. Berlin Uo
M.H'l1I center of a. munY L0nd n.
M.1 e.fy J. did NOT visit a. ln cone
ti touch with Amfrica'n cenhrs. /
.n1 inir sed reports n th' n ro-
IA" d1ly papers ana thuH helt ID
I 'Hoh with affairs at home.
AhlGHT ron THE FARMER
.Hmer hud cause 10 BE- jubl-
NItI cotton "a fib bale. com
niH ana wheat around sl. things
look right fol him. Com
through Nebraska Gre cro0a ups
80 ne ln rInl ahnuc. J under
I0nH in ali products, while not
h.naarl are good ana unlcs8
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