The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-06-12
BOND SALES PROVING
MONEY IS EASIER
Issues Easily Absorbed, Both
by European and Ameri-
can Investors.

The investment conditions continue ex-
tremely satisfactory. although indications
appear to confirm the theory that the
money market has turned the corner in
the direction OF somewhat higher figures.
Money for six months last week loaned
at the highest rates so far this year. but
at that, the figure would be considered
extremely moderate ordinarily. The most
conspicuous sentiment on the part OF the
larger banking interests al the moment
appears TO be that actually disturbing
considerations have been disposed OF for
some time to come, so far as abstract
propositions are concerned. and that the
community at large will henceforth this
year turn Its attention more exclusively
upon the crop situation and prospects. the
ease In money and favorable Impressions
Of domestic and foreign investors toward
American railway securities.
A number OF important bond offerings,
some OF them offered simultaneously here
and abroad. were disposed of last week
with really remarkable facility Senti-
ment In Paris is more cheerful on account
of the smooth completion OF the settle
ment there and British financiers are en-
couraged by the remarkable activity In
British trade and by the prospect OF a
count OF the Bank OF England after the
coronation. London. according TO the
very latest advices, places a favorable
construction upon the American Tobacco
CtIiSiNlI 6Ilb duSulo "NA Iol INC CIV GA
tages to accrue TO outside holders or
American securities In the future, TO re-
suit from the determination Of the Amer
lean government to prevent undue re-
straint OF public interest by corporations.
This is rightly expected 10 bring about
a situation where business morality Will
have TO be observed more closely than
ever before.
Shrewd observers also have detected
Intelligent and consistent efforts by the
larger railway corporations to effect econ
omies. irrespective OF their attitude to-
ward the progress of the crops in this
country toward maturity and our inter
ma tional trade should monopolize atten-
ton. According TO banking interests
which are In close touch with the general
trade and crop situation the crops at
present are making rather spotty show
Ing. 1t is not TO be denied that the fact
that the business community at large Is
garding Washington, as in the case Of
the Standard Oil and American Tobacco
decisions. causes feeling Of decided re-
lief and one 10 be reckoned with by the
adocates Of lower prices.
1t Is expected that within the six
months allotted by the United States su-
preme court the American Tobacco COM
pany Will have reconstructed Its business
fabric upon lines which, when approved
by the court, will serve as a model for
other corporations, giving the larger in
tercsts the opportunity they have long
protested they sought OF being able 10
cording 10 some persons an endeavor may
be made 10 discount this prospect In ad
vance OF the antipresidential election un
settlement next year. Favorable signlh
canoe was attached last week To the fact
that the management of the Hill prop
critics deem the time opportune for re-
corporate relations on an e&
tcnsive scale. Statistics regarding the
output OF new securities this year are OF
decided interest, showing an aggregate Of
nearly billion dollars and an increase of
SIS 100000 over the first five months of
1910.
Favorable significance naturally was al
tached to the actual and prospective list
inss OF American securities on the Paris
hourse and the purchase by important
Paris institutions OF $4,000. 900 of Mis-
sourl. Kansas & Texas per cent bonds,
TO be issued and listed on the Paris bourse
shortly.
The point Is made that there has been
q great Improvement in sentiment in this
country toward long term security issues
as demonstrated by the quick absorption
OF recent bond offerings Both the De-
troit Tunnel iss and Oregon Washing
ton IS were heavily oversubscrbed and
both issues sold al a premium on the curb
The oregon's were offered in London
simultaneously with the official announce.
of bonds will be allotted TO London bid
ders. To encourage wide distribution
the bonds Will be placed among bona fide
investors, so far as possible. The pur-
chase Of 500 900 900 of new Great North
ern Il per cent bonds had a decided senti-
mental effect for Observation-Disclosures FL
nancidl News