The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-08-21
NEW YORK BANKS
FULL Of MONEY
Sixty Millions of Dollars Are
Tied Up in Vault of One
Institution.
CALL MONEY IS NOW
A DRUG ON THE MARKET
Banking Circles Confident That
There Will Be No Money
Pinch This Summer.
METALS
WOOL
PRODUCE
BY PRESTON @. ADAMS.
I eased Wire To The Tribune.

BY PRESTON q. ADAMS.
BY Leased Wire to The Tribune.
NEW YORK. Aug. 1s.-The New York
banks arc still accumulating money 10
meet the great demand which Is bound
TO begin next month, when the crops be-
| gin TO move in earnest. One bank alone
I has between $50 O0O. 600 and $40, 900, 900 In
its vaults and all the big banking inst!-
| tutions are more strongly intrenched with
cash than they have been for a long time
As result OF the situation call money
is a drug on the market Time loans.
| however. arc not sought, and the rate Is
stihy maintained. In banking circles 1t
Is not believed there Is much chance for
q money pinch this fall.
| Shipments Of California Products.
From statistics issued by the Southern
| Pacific 1t apears that shipments of Cali
| fornia products TO the east between No
vember and August reached total
Of 2sooo carloads representiIg slfoSO ooS SSS coo
pounds OF freight for the road. The ship
ments Of green or deciduous fruits
amount TO 400 cars. against $500 cars
In the same period last season. shippers
receiving SO far some s2.400. 900. This Is
| the best green fruit season the growers
have had. and shipments for the year
are expected TO amount TO 1900 cars.
with total value OF $40, 1000.
From the Colorado desert country 1900
cars OF cantaloupes have been sent out,
against 400 last year. bringing the grow
ers 81, 900 600.
The California vegetable shipments are
constantly increasing. amounting so far
! this season TO $500 cars. and will soon
! give the railroad 10000 cars annually.
Oranges now provide about 1000 cars
OF freight a year and lemons 1000 cars
more. The crops on the coast this year
have been unusually large. and the con-
sumption eastward has been heavy. The
partial failure OF the crops In the mid
die west has created an ex,ra demand
| from that quarter. California has mad
more competition than ever this year
from eastern peach growers, as on ac-
count OF laying out OF new orchards In
those states have been bigger and the
quality OF fruit has been and Is better
than for a number Of years past.
Business in the West.
Alfred c. Bauer. who has just returned
from a four weeks trip in which he
and producing points in the west. says
that business conditions in that part OF
| the country are excellent. There Is an
optimistic feeling in all departments OF
the grocery trade which finds expression
In steady buying movement In all staple
lines. Crop conditions, however are not
all that can be wished and. according TO
Mr., Bauer's observations, there Is bound
TO be a shortage OF supplies in a number
of important canned goods staples Dur
ing my four weeks trip throughout the
middle west" he said, II was much In
terested TO learn OF the vast Improvement
In business, and the jobbers In that sec,
meant ] found on this recent trip that
every interior iobber had all the business
he could tal6e care Of,
Short Line Improvements.
From statements made in Wall street
yesterday. II appears that improvements
| under way by the Oregon Short Line sys-
TEN in Oregon and IN that section: and
which are expected to be completed this
year, involve a total expenditure OF about
expenditure amounting to $9;sS9oogx; x,s Is
math Falls, distance of lal miles THIS
Next In Importance is the construction OF
1873 miles OF road from the mouth OF the
Deschutes river to Redmond; d,,o, In COOK
| S. 100000. Construction work and Inn
provements by the Pacific Railroad 8
NayigatIon company no from T,,ss aiiSSETo T ca 10
| for S3,S00, 900: while the erection or the
steel bridge at Portland VIII cost $3.50
600. The Beaverton W'lsburg cut, on IN
Guiding the construction of steel bridge,
over the Willamette river at Oswego, VIII
call for $1,000, 900 Other projects are
also under way,
Big Order for Selectors.
An order for 5000 selcctors the largest
ever given. has been placed by the santa
Fe. The selector is n device for ringing
singly any one of the stations along the
line that is connected with the ofice OF
the chief train dispatcher by telephone.
largest mileage operated by telephone
When construction now under way is I'm
ished. 1000 miles of the company's lines
VIII be equipped.
John D. Ryan fulfilled expectations by
hcralding his arrival from Europe with
an optimistic interview on copper. Here
sumption In Germany was going on at
tremendous rate. and on an ever-in-
creasing scale. Consumption In France.
Italy, and England Is also ,9 showing a q
conferences with the largest producers
and consumers OF copper In England;
Germany and France. and the general
opinion expressed at these meetings was
that production was In excess OF con-
sumption. although consumption IL now
on an unprecedented scale. PERSONALLY;
I think an improvement In the metal
situation will be shown from now on.
Heavy Losses by Fire.
The losses by fire in the United States
and Canada during the month OF July
aggregate the unusually large sum OF
$96.Si7. 900. which is over $1,000. 600 more
than was charged against the same
showed total of sl5.SsO. 900 A very
considerable portion OF this Increase is
due TO the serious lumber yard. lumber
western states and Canada. which aS-
gregated close TO S6000.0 600 In losses. and
to the conilagration at Campbellton, n.
B.. where a loss of s3,500.00o was In
Cured. The fire losses since January l.
1910 now reach sl26076. 900. as com
pared with sll96S3 900 for the first
seven months OF 1909, and $40 900
for the like period OF 1908 During July
this year there were no less than 271
fires, which caused loss of $4,000 or
over In each instance,
The announcement OF Edward 7. JET
ferry. president of the Western Pacific
railway. that his company had made an
alliance with the Toyo kisen ksishn
(Oriental Steamship company for ex-
change traffic ut San Francisco canal.
caused little surprise. Notice OF the
abrogation Of the agreement between the
Toyo Kisen Kaisha and the Southern
Pacific was given some weeks ago, but
the new arrangement with the Western
Pacific will not so into effect until about
tho frst Of the year. 1t Is understood