The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-10-19
BUMPER CROPS.
TRADE BETTER
Many Indications That Bust
ness Is improving, Even
Though Progress Is Slow.
UNCLE SAM SHORT OF CASH
GOOD AND SAD FEATURES IN
THE FINANCIAL REVIEW.

strength and confidence was manifest last
week in the financial market but lis ae-
i've expression was restrained by a walt
Ing for the fulfillment OF some OF the
factors which were the prospective causes
Tor the hopeful sentiment In the stool.
market itself a sentiment OF reserve TO-
ward any great extension OF commitments
was cistinsuishahic after the almost in
StaEtaneous restoration OF the price level
on Monday with the cessation OF the
Foreign liquidation Undoubtedly this r.
serve was induced by the contemplation
New York banks which had accompanied
The acceptance OF the foreign sales OF
American securities while the war scare
was in force abroad
Great AbsorptiVe Power
L was an Impressive demonstration of
ne ohsorptive power in the New York
STOCK markes that i should have taken
lnEs OF American securities and then on
Monday have restored the irnna5rueut OF
prices which had resulted. but there stood
me S-s.eg1.Hoo loan increase Of bankins.
institutions for the same period This
ana other factors al work gave intimE-
tion that the extreme redundancy which
has prevailed IN the New York market
was 20 be modified, although no fears
are felt Of any danger or striusencv. A
rise In rates for the use OF money. both
on call and on time during the week. tes-
nv
WITHOUT a recurrence OF the strain OF DO
iifical crisis IN southeastern Europe. the
expanding requirements for banking re-
sources are expected 10 make for firmer
money conditions The reOpening OF the
labor controversy n the English cotton
mills Was responsible for some SCARCITY
OF cotton bills in the foreign exchange
market. where the fi-mneSs Of rates kept
discussion open Of possible gold exports
Higher Exchange Rate.
The heavy grain movement and the ex-
pansion, moderate as yet. OF CONNER
away from New York Iris flow was
restrained By the firmsr New York mon
~ market last week New York exchange
al Chicago being lifted 10 q small Ire
MUM. Finally due consideration r1vsr
be given TO the peculiarities % the state
OF the government finances for this fall
II Is many years since the United States
treasury has not made effective addi-
tons during the autumn months 70 the
money supply by one device o. another
Resources are manifeStlv lacking for any
s1ch relief this year The possibility OF
s call on the banks for surrender Of 8
proportion OF the government deposits I
neid BY them. 10 the country. Is can
vassed BY bankers
Government Deficit.
The running deficit in the governments
revenues KEGS pulling down the treas
ury departments working cash balance [
TIE treasury 10 help relieve the PANIC will
mature. An issue OF Panama canal bonds
also = in contemplation Prospects OF
any relief Tor the autumn markets from
TIE United states treasury il left oUt Of
the reckoning OF the bankers
Of the actual progress Of the improve 4
fHenr IN business there are many inGiCa-
lions The prosperity % the farming COM
nCnity Is much dWelt upon plentiful I
crops and good prices conducting 10 this
showing Future expansion Is demanded 4
Tor commodities and growth Of nercsn-
tie business IS looked for as a result
surplus Of idle freight cars
testified 70 the tendency OF railroad traf-
&c. and returns OF railroad earnings are
beginning 70 show more satisfactory re-
suits Consumers Of copper are reported
"a be more active buyers. and prices are I
better held by producers The coming
-eport OF the United States steel co-po-
-s1on for the third quarter Of the year
: The subject Ct favorable limitations.
1uJ iron trade authorities GSree in re-
PORTING a lull in that trade for October