New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-08-21
EUROPE OPTIMISTIC.
Quietly Buying American Securities
for Rise, Says Dir. Sutro.

r9iobard Sutro head OF the banking house of
Sutro Bros & Co. who has . ST returned from
a two months visit TO Europe l. an interview yes
terday said that he regarded the conditions mere
and abroad as about ripe for return OF public
confidence and a consequent revival of Stock Elk
change business
while in Europe" said Mr.. Sutro, 81 met some
of the most prominent bankers and heads Of other
,ip institutions in London. Paris. Berlin and Am
sterdam and must say they all seemed very bull
tsh on American securities. Although IN Europe
every one is making preparations for tight money
:, the fall they do really think it will be more
than very firm and even then possibly Tor only
bviaf reriod In short, there is feeling away
down in the boots Of capitalists abroad that OWING
TO the great preparations which have been mace In
an directions in anticipation Of heavy possible
demands there will perhaps be no more IMAM vi
dinarilv firm money markets after an
Asked why If the monetary outlook abroad dld
not look like possible stfingency the BANK OF Eng
land had deemed IT necessary to raise us rate VI
discount Mr.. Sutro replied;
.well 1t can only be presumed that the rate
MAS raised as a warning others 10 prevent them
from depending too much upon the Bank OF Eng
land All can say is that when left London a
week ago the bankers whom saw told me that
their position very strong indeed
In reply 70 the question as TO how investors on
the other side regarded the present disturbed con-
dtion of the stock market here. Mr.. Sutro said:
s-rbev certainly think the present prices Of rail-
road and industrial stocks Che good stocks, OF
, q
meet TO see again European investors are without
a shadow Of a doubt steadily buying American
stocks in q quiet way. My opinion Is that as soon
&c rha market here has remained steady Tor a rea-
soma lle time and the governments attacks upon
the CORPORATIONS become less violent and by de-
prees disappear the public the other side VIII
begin 10 buy American securities a large SCALE
Fpr, herrnore / think the French people are anx-
fous TO deal largely in American securities In
fact 1 am convinced that they are preparing to
take an early active interest in all the good rail-
road and industrial stocks here. They are waiting
for the big people here TO give them some little
.nco,ra cement first, however. for IL is from the
United States that they expect the turn In the
situation TO come
In eaking the situation in Egypt. he said
that London bankers did not consider affairs there
70 be SO bad as they appeared at a distance. ana
that such disturbances had occurred in that
centre would readily adjust themselves He de-
clared that he had not heard much a whs-
per of any big financial houses in Berlin and Lon
don being in difficulties. rumors of which have
heen current here and said that such rumors pos
sibly emanated from this side for the purpose OF
assisting the recent bear campaign.
--fsurope's present great difficulty. said MI
Sutro sis that of labor question which is grow
ing more and more acute every day. Radical So
calistic agitation is also causing considerable APP
prehension Consequently investors in Europe just
now are doing little in their stocks and are
thus able 20 devote more attention to securities
GA this side