Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-12-03
SITUATION IS
RATHER COMPLEX
softenlng Of Rates Causes Easier
Money East, But Not in
Local Circles.
PEOPLE ARE HOLDING CASH
Christmas Trading Helps Retail Bush
ness-Ncxt Season Promises We'll
For SiIIt--Local Conditions.

nesS-Ncxt Season Promises We'll
For SiIIt--Local Conditions.
The financial situation Is somewhat
complex. There is n diversity of opin-
ions as to whether money may be east
er or remain close in the immediate flu
ture. Financial papers are not agreed
as to this; but n softcning of rates Is
noticeable on eastern money exchanges.
This may become permanent, and pres
age even an easier market than now
obtains. But while this may he true
ms far as other money centers are con-
cerned, 1t is hardly true of the local
situation. Money is still in demand
here in such a volume as to preclude
any lesseninS of rates; and 1t does not
look as though rates would be any less
Mt this point before next spring, al
though the market Is not so stringent
against borrowers as It has been in the
past. Reports from over the country
Indicate that people are determined to
preserve a conservative policy--not be-.
cause they are short OF cash, but be-
cause they think it wise to hold on to
It. All crop reports continue favorable,
and the farmer is in easy circum-
stances. The number Of artisans out of
employment is the most regrettable
feature of the situation; though one
gratifying feature is the fact that the
clearing house figures are greater than
those Of most or the western cities.
DEPRESSION IN EAST.
Henry Clews in this weeks circular
letter says: Depression Is more keen
in the east than in the west. where the
beneficent influence of good crops Is
distinctly felt. The decline In farmers
profits, however, is a factor that must
be reckoned with. considering the in.
creased obligations and expenses which
many must face. Tho farmer will not
be as prosperous as q year ago. In
eastern industrial circles there Is more
or less depression because of the renc-
ton in business. The disposition
among consumers to seconomize is cer-g
tanly checking consumption. In the
great iron Industry, which leads all
others in Importance, there Is still
very pronounced state of inactivity,
The latter is not likely to he removed
until the railroads come Into the mar
ket as purchasers of materials. some
thing which they will be unable to do
until the rate question is settled and
the outlook for traffic becomes more
encouraging. Present conditions sug-
gest fair activity in the stock market,
with moderate fluctuations in either di-
recticn, Trading has unquestlonably
been checked by recent manipulation,
which carried prices quite beyond the
4Slews OF buyers. y reaction of few
points would place the market upon a
sdunder basis and afford some Induce
nent To both investment and specula-
tipe operations. Much will depend upon
President Tafts message and the open
inG OF Congress a week hence
HARDWARE HOLDS IT OWN.
The hardware trade reports that
Tie month OF November shows up
fu'cly well. a stand-off as compared
with the same month of the previous
Gea-. Tncrc we're more orders sent
In during this November than
during any one month of the year
Dealers are ordering much more care !
shipped now by i6bbers arc of a
miscellaneous. character. intended
lMrselv for filling in. Orders for 1911
delivery are being received in crafty
lag quantities. The years business has
Ftovcn satisfactory The steel trade
10 showing marks OF Improvement
now that the trust and tho independ-
M !
reports the trust as willing enough TO
adort the Standard oil tactics and at
tcmps TO crush ont all opnOsition:
but in; View or the tremendous row the
Standards policies created IN the
country. tho steel magnatcs hesitate to
stir NJ another hornets nest
9 LuMi Sci, TRADE LIGHT.
The lnmbcI' trade reports not much
doing, as mt this time of the year
,hcrc is always Il slucEening up. Lum-
Dor can hardly GLOVER. and there is
little Indication $ to what the future
Will he. The stocks in salt Lake yards
are Kept up we'll, as dealers bouSht
largely IN anticipation Of much more
doing In October and November tnan
was actually done. their
stocks have not been particularly dc-
pletctl. The car situation Is in better
Shape. rs the congestion hos been re-
moved. and Earishublc freignts are
well outEor the wa2. The cement
market Is very quiet. as little, or
nothing; Is doing intcement laying dur
Ing the winter months. The factories
arc having no difficulty In filling
orders
WHOLESALE DRY GOODS SLOW.
The Wholesale dry. goods trade re-
ports business rather slow. though
there Is something moving IN llanheis.
calicoes, ginghams,H sheetings. ana
Christmas lines Large shipments of
cNlicoes are In transit from New York,
due to arrive here some time next
wcell.tIn II general way wholesalers
ana jobbcrs report a slow call for
goods; though western distribution
continues steady. eastern houses arc
complaining OF slucllness. so that
manufacturers feel uneasy over the
prospect There has been n curlailment
OF output in all cotton lines for the
past few months, and has now reach
cd the stocks ofmany wholesa lcis and
retailers so that consumers arc being
urged to ACCEPT substitutes at unreal
lsonablc prices. considering values In
tho primary market This condition
Is held to be due partly toJ tho
pressure upon the retailer to secure y
living profit while his expenses can not