Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-09-03
POLITICAL EFFECT
IN BANKING WORLD
Financial Circles Locally and in
The East Feel Unsettled
Condition.
THE MARKETS AT A HALT
pry Goods, Hardware and Other Lines
stand Waiting for Opening of
business OF Colder Season.

According to local banking comment,
the financial situation. which was on
ts way to a healthy success last week,
has received set back due 90 the
somewhat unsettled state Of the po-
ulcal world, The New York stock
exchange has not before exhibited that
hating uncertainty which is now OBJ
,siping there. The bank clearlngs con-
tnued until Friday. 10 show up behind
tbs corresp Onding dates OF 1909. But
an the date mentioned, there was re-
i vstsl which the clearing house people
4 tlucercly trust will be continued.
HENRY CLEws CIRCULAR
Henry Ciews says in his weekly cir
4 cuar letter:
our crop outlook Is better than a
NINTH ago Corn has been making
steady prOgresa during the past Week,
i and the outlook for a 5000 900, 900 bushei
ron Is fairly reasonable II damage
H. frost be escaped. cotton Is also
i dolng well and should.if free from frost,
4uun out larger than at one time an
n Minated II VIII be remembered that
4 wheat has already disappointed the
4,ssslnnistic predictions OF July. There
IN. therefore now little or no danger
4 M crop failures. and the country Is al
Il most certain of securing a fairly salts
factory harvest Although prices are
frequently lower than year ago, they
UlU Weld good profits to farmers, This
Il ,,obablv explains the continued optim-
'stlc reports which come from the west,
hot section having steadily refused 10
! senousy syfnpathize with the pessim-
ism which has spread all through the
east The further west one gees the
more optimistic Is the temper.
There has been noticeable improve
msnt in the banking situation AZ the
4 Interior. resulting from the precautions
4 enforced by bankers Tor the last month
ak weeks. Liquidation has not only
Il checked unhealthy speculation in the
h Interior. but has forced a freer mar
letting Of crops which had been held
back for higher prices This was
tsukingiy demonstrated by the recent
5Rrgo increase In grain receipts at pri-
Imary points compared with a year ago
IThe demand Tor money to move the
|,rops at the west and south has already
|btgun, and henceforth the surplus re-
|sryes OF the New York banks may be
|Wpected to decline as western institu-
lions draw upon their balances in this
market Considering the lessened de-
mand for money for business and spec
uAtive purposes, the New YORK banks
viii be able to assume their share OF
the crop burden with much less DIM
Guilty than at one time feared. Firmer
money rates are within probabilities,
but Indications DO not point TO any eN-
IRENE stringency either at New York
or interior money centers.
The hardware trade reports tndt
August had closed with gratifying
showing, the volume OF sales having oN-
ceoded those OF August. 1909 Orders
are reported as being received quite
freely. a good steady, substantial trade
being maintained with the country dis
trcts. rather than with city sources.
where times are rather dull The de-
mand rs FOR sheet iron. metal goods for
light construction, fencing, granite and
tnware. washing machines, stoves, etc
An increased trade is anticipated with
IN the next 30 DAYS. Collections are
dull due largely, IT is claimed. 70 ina
hlity Of country purchasers TO borrow
from local banks money with which 20
discount their bills However. IL Is re-
ported the country banks are beginning
10 loan money with more freedom.
LUMBER
The lumber trade appears TO be in
state of commercial coma. with ship
ngIts slow and cars hard to set. There
{ DO change In prices. has not been for
several weeks and there Is no telling
when there viii be any change. The
sane may be said OF the cement mar
fst so that tho factories are actually
be7nnlne to accumulate stock
WHOLESALE DRY GOODS.
The Wholesale dry goods trade locally
t1fts conditions very dull practical
NJ nothing doing prepa ra tory to opening
10 active operations Tor the fan and
winter trade Jobbers report the gen
'enl trade az broadening out. with both
loton fabrics and yarns frmer. and
gh money rates tending 10 retard new
nuring The miscellaneous trade IL
moderate wherever the old prices tan
|hr secured but when new high pIices