Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-08-20
IMPROVEMENT IN
| BANKING CIRCLES
ban Information Causes Finan-
oiaI Interests to Put on
Optimistic Smile.
rslL TRADE IS BEGINNING
.,ors Already Feel That Season is
prawlng Near and Volume OF
Business Grows.

s,,uation in banking circles shows
T.tinc, Improvement more optim-
ceiling pervading the monetary
's,o In financial matters not only
IN. INIT through the country at
This is due to a more definite
,,,mation regarding the crops which
=. chewing up much better than was
..o.rept some weeks ago. While II Is
w mai the wheat crop is shorter by
w., m, bushels than the harvest OF
,wa vet It is up to the average OF tho
nS 10 years
=. ooset this shortage the estimate
- that the corn crop will run up
Il. ee0 900 900 bushels, making 2I5'OOo'-
~ .,,ra than last year. The oat crop
III. shows an increase OF 2OO,OOo,OOO
,,.hels above the average OF the last
!. ears These figures entirely justify
y. more optimistic feeling obtaining In
i s,.rclsl circles. II is quite probable
~, local rates OF interest may remain
| mile stiff. but money will be In suf-
/ alan, auantities 10 satisfy entirely
-i,ir,ate demands There will not,
s1wsver. be enough for speculative pur-
soses The bank clearings continue TO
sn IN This is explained by one bank
I,sshler az due 20 lack OF money with
yh,eh 10 transact all the business t>e-
deed such deficiencies being due 10 the
sree amounts OF money sent out of the
ssntry to pay for construction ma
praL
C.Ews' WEEKLY LETTER.
Henry Clews in his weekly circular
e ktter says.
The crop situation is not all that was
|sesired The country was greatly IN
| nssa OF bumper crops in order to lower
as, Of food products and reduce tho
s,st Of living The present agricultural
outlook is FOR an average general re-
suit According to the last report uf
Ne department of agriculture the con
{dtlons OF all crops combined on Aug
i was SIS per cent lower than a year
eso and 5S per cent lower than the
average OF the past 10 years, This low
2mndlton will OF course be offset by in
creases in acreage, and a large crop
5 q corn is now likely possibly 100000
loo bushels II must be remembered,
however. that the crop is more than
+ two weeks late and. therefore. in par
tcular danger Of early frost Should
r We have a satisfactory yield OF corn IL
Z vlll DO much 10 offset shortages In
: sher directions. II is also 20 be noted
With abstraction that the wheat yield
H. turning out much better than at
ms time expected The poor condition
E n cotton Is an old story and has been
+ amply discounted. The worst feature
4 rEsrding the crop situation is its effect
4 upon our foreign trade. We should
have had much larger exports OF agri-
/ cultural products this coming year In
4 order TO restore our trade balance 20
4 formal proportions and TO strengthen
A our credit abroad Evidently we will
no, be able to depend upon exports 20
i Gcomplish this desirable result: the
July statement showing heavy de-
zine IN exports OF wheat and cotton.
bat trade depression here IL likely 20
/ deck imports, and by such means we
may at least partly recover our loss
q surplus exports. Fortunately we
have been able to command European
gold because foreign takings of our Sc
curites in the last six months more
nan made good the loss of commodity
shipments