Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-10-23
7,.y. With Eastern Influences
Maintain Local Financial
Conditions.
clEws RECOGNIZES WARNING
= t,oeland In Announcing In
i'' 4, Rate Of Discount Gives
Notice to All Nations.

Q, Ne local money "'"i
l1 nd for money has been very
il' W. ritb rates well maintained.
'i'" ..,- i,tter feature has been due
81. 7, sympathy with the eastern
..,ets and with the increase OF rates
nl, ,,.,,,o There seems 10 be a be-
49, ,ho period Of low rates and
..' money has passed, for the pres
'-'" ..gt The revival Of business
t ..st Is now in full swing, which
IN 5opbtless make demand for
money mat will sustain ialr '"'e'es'
rate ,.,,,t- oF cr,EWS.
Henry clevs in his last circular let
Ger says.
is A gradual hardening in
I rs,os owing TO the steady de
rl. of hank reserves Three months
Money is already quoted az per
~. Crop and trade Requirements
''I' ,or approachlug their zenith, the
+, bs.nr "a forced shifting or con-
.,,n of speculative loans, and con-
...ee.e,tiv higher rates for call money.
~ ,.ia of warning has been empha-
- bv A further advance in the Bank
- rorlsnd rate. II is well known
~ s5 our own monetary resources
IAN 10 decline there was heavy
sbIft.nr OF American loans TO European
.-srksfs Much of this borrowing was
.g account of powerful interests here
Who were engaged In conducting a
,-,.oi.ilve campaign which In some
.ssns.ts was unparalleled. Europe dis
ma our operations Of this character,
r5i onlv because of habitual conserva-
ism but also because Of their dan
ssr5us character. Foreign bankers
ssvs therefore. administered a timely
nd mnch needed rebuke to "a certain
rass of operations; "a rehuke that may
somewhat discourage their cOntinu-
,nce al this time The only great
tsnkinp center which has not mani
t.tsd resentment az our speculative
methods Is Paris but Paris has only
4 secondary interest In our financial
,fsirs. and Is Just now more intensely
,sruped over the inhammable polit-
sl conditions existing In SItin and
ibs danger NJ a social or political eX-
rlosion. For this and other reasons
,fr speculative operators are able n
md little encouragement at that par
ocular center.
We haye hal low rates sufficiently
ing 10 permit recovery from the ef-
let's of the 1907 panic. and the whole
world win be benefited by a return TO
q normal and more healthy condition OF
De money market Commercial and IN
dastral conditions al home are general
iy favorable There IS a strong under
tone Of confidence. Business activity Is
general and the prevalent opinion is
that ue are In for period of contlnu-
Gus growth and activity, Some modih-
eaton. however is necessary OF the ex-
tgwgant optimism which character
i1,d last summer The feeling Of
citation following settlement OF the
tariff has somewhat subsided and is
being succeeded by apprehension I'm
some quarters that the maximum and
minimum clauses Of the new bill may
cause serious International friction I'M
less handled with great care by Presi-
dent Taft AS our gifted president Il
fortunately endowed with n high degree
n tacifuluess It rs probable that we
shall escape serious difficulties: hut this
uncertainty WIN not he removed until
nxt spring when the Objectionable
causes 30 into effect.
HARDWARE TRADE.
The hardware trade reports business
= sun active for the current week.
hsalng stoves OF many kinds and
sNe furniture are being shipped out.
iaeA general staples continue strong.
.i'h large quantities 81 galvanized
Aeels going out, builders hardware,
eao butchers supplies, scales and steel
slYls' DOCKS, etc Collections are inn
.'o''ns' as payment for crops put Gus
U.nsfs M position 70 pay for their
t''ls ana IN 30 days money payments
.-snt 10 be oasy Dealers also are be
snnIng 20 receive orders for spring de-
OF goods seasonablc at that time.
as avn mowers garden tools. etc.
-"''' N great confidence In the future.
LUMBER TRADE.
IHe lumber trade reports a condition
VI lAn9c uous deEuetudo-that is. in INC
al ol features or special events. The
-,.. vl business continues as last week.
tN M Improvement iu the car short
uut There continues 10 be- a large
y, NY. .. nom ne yards IN a retail way
~. account of The steady big demand
uWI1lng material which rs likely
80, .,,p up 1s long as the favoring
''-'n'' admits Of building operations.
Wholesale DRY GOODS.
,s ,.' wholesale dry goods trade re-
4 so.5 .lN ihe usual steady business.
s''o' i'ade shipping Out blankets.