Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-01-15
But Rates of Interest Are Not
Pushed UP on This
Account.
BRIGHT OUTLOOK FOR YEAR
Tn All Lines OF Business Endcayor Is
Apparent Optimistic Forecast
For Prosperity GeneraII-.

The year opens auspiciously from
financial point of view. The various
banking institutions report a contin-
ned demand for money which however,
at present can not be supplied. This
is regretted particularly as the calls
are all for worthy, legitimate objects.
In fact it is noticed that no projects
of shady character are being pushed
forward. However. this inability to
furnish all the money wanted for de-
srable objects Is not expected to last
long. Rates of interest are not showed
up any. on this account; that is, in this
part OF the country. In New York, no
such good conscience is shown as
money loaners there believe in making
money while the sun shines, and in
times of financial stringency raise the
rates of interest to make up for what
they may lose in such times as money
may be plentiful and rates of interest
low. In this western country it is not
considered advisable to take such ad-
vantage, as the touch between borrower
and lender here is closer than in the
east, there is often 81 personal element
entering into such relations, and then
competition here is of such a nature
as to make 1t unadvlSable for any bank
to take advantage of market conditions
to raise the rate of interest. There is a
commercial sensitiveness here about
taking any step likely to drive patrons
elsewhere for better accommodations.
that does not obtain in eastern centerS.
where loss of patronage from one source
is always made up from another. In
the west. the most banks do is to be
more sharp in discriminating as to
whom they loan money. and the char
acter of collateral. Much of the money
now being loaned out is to pay for
building material.
TEMPORARY STR1NGENCY.
Henry Clews says in his last circu-
lar;
The stringency in call money is only
TEMPORARY. and incidental to usual |
January operations. 1t Will be re-
membered that January year ago WAS
a period of declining prices. although |
the general situation was distinctly |
promising. The reduction In the BANK
e England rate was 81 favorable rae
tor and indicates a better condition III
She foreign market than expected con-
sidering the unusual excitement anu
attending the British cleo
ton This market had already received
assistance by means OF
borrowing abroad, and the easier con-
ditions there will tend to alleviate tenn
porary strain over here. The feenng
abroad. however. has been made some
what dIstrustful OF American securities
by the Rock Island affair. which crc-
ated a worse impression there tnan
here, although In this market the eilect
has not yet disappeared. AT this VIII
20 fnr railroad
regulation have not yet been autnorl-
announced.
He is understood to favor more ell
fectiye control over railroad rates. 10
oppose the purchase of railroad STOCKS
by competing lines, to favor pool1ng, |
and to advise the regulation OF new Sc
curity issues in order to prevent over
issue: also a number of minor propos-
ais of more or less merit, including
commerce court and federal incor-
poration law In the main, the OBJ
jects of President Taft are meritorious, |
and would do no injury to properly |
conducted railroad and industrial enter
priscs The most serious objection 10
his proposals Is the tendency towards
excessive concentration of power In
the federal government. since unques-
tionably many of the objects for which |
he aims would be better accomplished |
Dy means OF Well ueNiotu diiu "'
state laws than by adding to an al
ready cumberous national government
machinery
HARDWARE BOOMING.
The hardware trade reports steadi-
ly satisfactory condition. with It's
travelling men starting out with the ex-
pectation of making record year OF
It Collections continue to be gratify-
Ing Spring orders are up to antici-
pations. the call at present including
smaller steel agricultural implements,
garden hose, wire cloth and goods of a
similar character.
LUMBER STEADY.
The lumber trade reports no change
from the conditions of the previous
week, except that not only are ship