Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-02-05
Banks, However, Have Not In
:. creased Rate-Security
Closely Watched.
BUSINESS REMAINS FIRM.
Seasonablc Conditions Prevail With
Preparation for Spring md
Summer Business

The local money situation continues
satisfactory, with the demand Tor
money apparently unabatcd. 1t Is not
ed that the demand is Tor entirely
legitimate purposes and objects. large
" in the live stock line. and IL Is
believed there will be n strong de-
mand when the spring opens for FUNDS
for building purposes. NOTWITHSTANDING
ing the call for loans, the rate OF IN
tercst continues as usual. there peins
no disposition on the part OF the panks
TO take advantage and raise the rates
of interest However. collaterais are
pretty closely scrutinizcd.
An interesting event OF the week was
the notification from tho comptroller y
Office at Washington to the copper
National bank OF this city OF the IS
suance of their charter. which VIII en-
able them TO at once engage III ousi-
ness-for the present in the Newhouse
building on the second floor until the
palatIaI banking apartment In the
ground floor has been made ready. Inc
new manager of the Salt Lake Clear
ing house. J. W. Boud, paying teller
OF the Utah Commercial Savings
bank. entered on his duties Tuesday,
Feb. 1 succeeding r. r. Sharkey of
the Continental National. The general
condition of the local money market
is regarded as healthy and satisfac-
tory.
TEMPORARY DRAWBACKS.
Henry Clews In his last circular let
ter says:
"The situation is somewhat confus-
ed by temporary drawbacks The agi-
tation against the present high cost
OF living, which has spread like Wild
fire from the Atlantic to the Pacific.
has an important political Significance.
inasmuch as the discomfort which II
implies unless checked may easily
be the occasion for a great deal OF
radical and Injurious legislation. AL
ready Investigations arc being Initiated
that will furnish fresh material for
the agitator, and unless some means
are found to satisfy this discomfort II
may easily become much more dis
turbing factor than has yet appeared.
II an Investigation can be conducted
free of political animus. 1t may ac-
complish much good by provoking dis
cusslon and showing what are the real
reasons for present high prices. AS
already stated In these adVices, high
prices are due to many and very COM
plex causes. and little relief can be eX
pccted from legislation. 1t Is largely
an economic movement. and ono that
with time and patience Will work out
its own solution far better than
through any Legislative meddling.
while there arc reasons for unsettle-
ment as noted above, the fact should
not be forgotten that the better class
OF stocks have now reached a point
where they are sure to attract the at
tention OF investors. With a decline
OF 10 to 20 points in many of the best
issues. It is evident that their invest
ment qualities are much better than
three months ago. Stocks are now be-
ing quietly picked up by shrewd buy
ers for permanent holding, and should
the decline go much further 1t will be
found that the floating supply of Sc
curities has been materially diminished.
Stocks have gone from weak into
stronger hands in considerable volume,
and the possibility of the bears meet
Ing with further success on the decline
is constantly diminishing. Fundament-
ally. conditions are sound, and the
prospects are that before midsummer
the market will reach considerably
higher level than the present one. While
the present tone of uneasiness con-
tinucs 1t Is not impossible that still
lower prices may be reached, but the
better class of stocks can be considered
as purchase upon all pronounced
breaks. for the market Is near bed
rock figures and any important de-
cline is sure to bring out strong buy
Ing"
HARDWARE
The hardware trade reports business
good. considering this continued cold
snap. with the retail trade buying quite
noerally Of spring goods. and collec-
tions fair. The spring goods include
garden and small agricultural imple
mcnts. garden hose, wire fencing, etc,
The sale OF sporting lines continues