Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-03-27
INTEREST RATES
MAY Be RAISED
Probability is Remote, However
But Export Of Metal
Brings Prospect.
LOCAL MARKET RATHER QUIET
Condition Is Charged to the Iatcncss
Of the Seasou--Improvcd
over Last Year

The local hanks report business for the
week az quiet, but with good demand
FOR money and the rates east tightening
up on account OF the expectation Of gold.
The effect Of this win not be felt In this
locality Immediately but may be- later
A feature OF the week was the action
of the London Joint stock banks In arr
ranging 20 hold their own gold re-
serves; whereas, heretofore these re-
serves have been held by the Bank Of
England This scheme win require
more gold on deposit IN London. which
win reduce the supplies elsewhere for
a while. In his weekly circular letter.
Henry Clcws says:
The money market continues extreme
" easy In spite Of declining bank re-
serves and large gold exports. Further
shipments of the precious metal are exc
pected both 90 London and Argentina.
Should this outward movement con-
tinue on q large scale some stiffeninE
~ interest rates must. Of course, be cN-
pected but az present such a possl-
hility is not In immediate sight Time
money is q little frmer owing to tho
approach Of the usual April settlements.
which, however, are a less disturbing
influence than was the case IN former
years For commercial paper there is
n good demand but limited supply.
The outlook is for % quiet market
with moderate fluctuations either way.
A steady undertoue prevails and re
operative forces are quietly at work
70 a degree that later on should be rec
Elected In renewed improvement. our
great bankers. our great merchants and
our great manufacturer are not dis
turbed over the future They are con-
tent TO let matters rest and permit
recovery to take q natural and slow
but safe course Very soon the sap
will begin 20 rise and that De- not the
time for taking gloomy views. When
the tariff question is settled business
viii certainly become more active. and
orders which have been held back Tor
months win be placed for execution
The lowering Of prices and wages Will
also In due season be a stimulus to re
newed enterprise Much win depend
upon the crop outlook and up 10 date
this Is not 10 unfavorahle as at one
time expected Large crops win be
earnestly desired.
HARDWARE
The hardware trade reports quiet
week an Improvement over the last
week and a very marked Improvement
over the corresponding week OF last
year. Collections continue SLOW with
some difficulty IN certain sections.
Sales are improving I'm some classes OF
goods and the trade has been shipping
rut steel goods I'm the shape OF light
implements garden utensils. fenc-
ing, poultry, netting, rope, lawn
mowers garden hose. etc. Builders
hardware has not been so active ON
account OF the late unpropitious wealth
or, but with the advent Of more IA
vorable climatic conditions, renewed
activity In this line is expected. Pro-
snects are considered good.
LUMBER.
The lumber trade reports nothing now
% special note Only the common
grades Of goods have been called for
during the past week. while the shingle
market is quiet. The closing OF tho
Portland gateway 10 through traffic
does not seem 10 affect the lumber men,
as they say there is not necessarily any
reshipping and rebilling IN lumber
freights
DRY GOODS
The local wholesale dry goods trade
IS without special feature this week,
although only what might be expected
az this season OF the year, and has
been an Improvement over the CORES
ponding period Of 1908. March Is gem
orally a slow month. the principal
classes Of goods moving being staples.
However there is quite a demand for
wool bags. thousands Of which are
manufactured Goa the west They
Wholesale at % cents and contain 300
pounds OF wool IN the general mar
ket cotton fabrics are a little less ac-
tive. but with a steady demand I'm the
leading lines. The uncertainty as 20
tho tariff is proving a factor IN delay
ing orders The fan trade De- consid-
cred promising, though current bust
ness with agents is rather light The
new patterns and colorngs I'm fan goods
meet with favor. A feature or the
week has been the refusal OF the mills
20 manufacture except on order. lon
cheap cotton dress goods, unless the
fabrics are known 10 be OF "a semi-
staple character. The market on
heavy brown domestics is quiet. the