Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-07-24
Returns on Wool and Lambs Re-
sponsible for Light De-
nnands at Banks.
NEW STOCK ISSUES ARE DUE.
every Indication Of a Large Output
OF New Railroad Securities Dur
ing Next Few Months.

The banking field has not presented
any special features this week beyond
the fact that the demand for money
Is at present quite light, as there is
much coming in from wool and early
crop sales, 50 that people are not SO
dependent on the banks for Investment
funds. Then there is another influx
coming from the sale of lambs, SO shat
rates OF Interest ought to be weak and
variable rather than stiff and infiexi-
bile. A prominent banker remarked to-
day, that it was a mistake to imagine
Z banks were making money when in
terest was high. On the contrary,
hanks make the most when interest Is
low, as in tho latter case there is more
money out and more business is done
than when money! Is tight. KS.
BRIGHT OUTLOOK.
Henry Clews. in his latest circular
letter. says;
"The steel trade continues to show
great Improvement tho demand for
steel products being genuine and large
: advancing, prices. Railroad earn
ings continue satisfactory, showing
that traffic Isl constantly growing, the
r better returns TOW received Delng lS
much due To higher rates and reduced
expenses as to the actual growth OF
traffic. There is more or less public
complaint about high prices for farm
products. and it must be admitted that
IN the absence Of any important sur
plus that the chances for lower prices
seem somewhat remote. We are prom
ised q hummer corn crop. and 1t is evil
dent that there will be a good demand
n
The monetary situation is satisfactory.
and while tfrmer rates must be looked
for before long, no particular stringent
cp is iii sight. Afeature in the bank
ing situation Is the tremendous expan-.
sion in loans, due more to- stock mar
kct operations than to ordinary bust
ness requirements.
INDUCEMENTS SCARCE.
There is plenty of money seeking I'm
vestment: git is the Inducements which
are scarce. and the speculative spirit
has not been "a reused. Another element
which prompted buyers to wait was
the large new issues expected next
month. including the Hartman and
Gould financing. There Is every indi-&
cation of n large output of new securl-
ties during the next few months, and 1
tits we'll understood that some bankers
new financing than others. Some OF
our best tinanciers and syndicate or
gnnizers have openly declared the mar
ket too high, While others who, appar-
emily, have not yet got, rid OF their
surplus stocks are optimistic in their
talk md interviews regarding the pros
Ferrous condition of the country. IT
IS worth while noting that these gem
tlemen3 have n habit of talking bulls
ishly for public consumption when the
market is approaching the top and
they orEt their friends have stocks 10 4
sell. No one questions the truth Of
their statements. nor does anyone sup
pose them 70 be put out from purely
motives &
BEHIND ON ORDERS.
The hardware trade reports condl-
ions about the same as last week.
only little more So At this time
of year, most of the articles sold are
considered staple, particularly builders
hardware and the smaller agricultural
.ools, and the sale of these is continu-
ally increasing. In fact the demand IS
such that the eastern factories are from
% to 80 days behind their orders, even
me immense establishment Of the Sar-
gent manufacturing company OF New
raven being unable to fill present or
iers before November. So the outlook
.or business is considered promising.
objections are keeping up well. which
an encouraging feature.
LUMBER sLAcKENING UP.
The lumber trade is feeling the e.
ects OF the weather. trade falling off
o some extent. Outside dealers are
lndlngs payments slow. as people are
Waiting. for the naturalization Of the
TOPS. The shingle market is weaker,