The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-11-26
SPLENDID OUTLOOK
IN UNITED STATES
Excess of Exports Over I'M
ports Of S4oi,6OO,OoO for
10 Months of Year.
HEAVY COPPER DEMAND
Railroads Show Good Profits
and Business in General
IS Increasing.
HEAVY COPPER DEMAND
BY RALPH EMERSON.

By Leased Wire 10 The Tribune.
NEW IoRK, Nov. 25.-Deyelopments
continue 10 favor the conservative side
OF business generally and tho securIty
situation. Wall street is no longer chas-
ing dismal spectators and optimism this
week has prevailed to an extent that re-
suited In sharp stock market advances.
particularly IN tho Southern railroad
shares and copper stocks better de-
mand FOR copper. both here and abroad.
was experienced. This was made the
basis OF an active manipulation OF both
the metal and the stocks and temporarily
made sentiment In other directions.
The highly favorable statement OF the
total foreign commerce OF the country ior
October. showing an excess OF exports
over imports OF S1?, 0o0. 900 as compared
with last year, and si0l, 100000 for ten
months Of the calendar year nade q.
deep impression upon all those who study
material conditions. Figures now show
that tho nation has been maintaining JUS
high position as A creditor country, which
enabled IL 10 loan $50 000. 900 TO London.
Paris and Berlin at n time when Europe
generally was convulscd by the Moroccan
question. strikes and other grave mat
ters.
There IS no doubt whatever that our
continued credit balance was an import
ant factor on the weeks security mar
kets
The spread OF effect produced by the
Union Pacific profit and loss surplus OF
slSI. 100000. the most remarkable ever
shown by any railroad corporation, was
another matter of moment In causing "A
shift OF sentiment from pcssimism TO
optimism. Again, the October detailed
railroad statements were far better than
expected, with Others 10 follow along
the same lines in November and Dcccm-
Der also 10 be reckoncd With. Beyond
this all matters on the maintenance OF
dividends were brought prominently forth
once more by the increase OF dividend
rate on the Atlantic Coast common from
a 6 TO Z per cent basis and tho declara- :
ton OF an extra dividend OF "a per cent
These declarations derive significance
from the fact that only last week dlyi-
dends were increased by tho Hooking
Valley and the Kanawra and Michigan
roads. While these special declarations
do not settle the question OF maintenance
by all companies. IL certainly does indi-
cate TINT no reduction is in sight by
prominent systems and r. strong inn
preston prevails that the Louisville s:
Nashville. because OF a large surplus.
may mako an extra distribution 20 share
In regard 10 the other roads are among
the impossibiliucs of the future,
In estimating the underlying factors
& 'nRrove1 sGnmSnt ne ,na as TO the on,
tcrnal trade and industries must not he
overlooked. From the low level Of the
summer there has been steady, better
structure has been so slow that it has
failed Of full appreciation. However. II
Is at least beginning TO attract that at
tcntion which II deserves. Both the pco-
pie and the corporations OF the United
states, through a long chain OF unfs-
vorahle circumstances, were afraid TO
eoonomlze, There is. however. limit TO
economy in a country Ike ours with a
population, Of approximately $4,000, 900
souls and corporations capitalized at
many billions OF dollars. That has at
last been reached and necessity has
forced purchases Of supplies that arc
now assisting In a general recuperation.
Some important changes have occurred
In the worlds money markets.
At home the January and February ma
TURTLES In funds loaned at 81 per cent
the lowest rate in three years and there
Was a fall Of IS points in demand ster-
ling from last weeks high level Abroad
the three great European banks in
creased their reserve position, money
boarded by the French people during the
late extreme is being rapidly returned
ncwing loans previously called. New
York Will also renew foreign loans 20 tho
extent asked for. but il is now pretty
well settled that a large volume Will
be paid OFF.
This will insure p liberal supply OF
capital for railroad corporations which at
no distant date will have 20 seek accom-
uodatons 10 meet payments for large
purchases Of rails and equipment and
also TO llquidate maturing short term
notes, estimated at $3.50. O0O. 900 TO $40
600 600.