The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-05-21
Heads of Nationwide Indus
tries Say Foundation of Bust
ness Revival Is Laid.
GUGGENHEIM TALKS
ON COPPER SITUATION
New York Financial Institu.
tions Still Insist on Highest
Grade Collateral.
BY PRESTON C. ADAMS.

NEW YORK, May 20.--Leaders ot
industry continue to look al condition:
through rosy spectacles, and If they
have any misgivings as to the outlook
keep their forebodings to themselves
Not only is the situation to then
minds satisfactory here. but abroad as
we'll For instance. Charles NJ, Schwab
before his departure for European
trip. had this 10 say:
You Will recall that there was con
siderable grumbling last year over
poor steel conditions, but AT the end Of
the wear the report Of the various com
pamies showed in nearly every case
the second best year in history
Some people are complaining now, but
production for the last several months
has not been poor, an evidence o1
which is found in iron production
which has been running at the rate OF
close to 25.0000o0 tons a wear
{" For several weeks there was ia u
ing OFF in new business bat lately the
railroads and certain other consumers
of steel have shown more OF DIS
position 10 enter the market, | be.
levc the next turn viii be for the bet.
tey Money is easy. and there is plenty
of il awaiting investment. The demand
10, high grade bonds is pronounced.
The country is irving TO forget politics,
and business interests in general seem
TO be more hopeful. There has been
better buving Of steel by the railroads
Of lale.
There has been more or less pes
Ill la 80 AL, ,-I Srrt- s1i1nC q
the first of last wear. and [ believe IL
is aboni time TO become little op-
timistic 4 good foundation has al
ready been laid for business re
vival.
Germany Using Copper.
Then Isaac Guggcnheim. on his return
from abroad. SAYS
In England business is good and in
Germany eXceptionally good. found that
Germany is buyins more copper than ever
before. This is due 10 The great eXpan-
sion Of business that is taking place
there"
And r De Witt Cuyler a director OF
the Pennsylvania railroad who has been
away since January says:
''Setinent toward American securities
seems 10 he good abroad and the gen
eraj feeling excellent. The big supreme
court decisions were anXiousy awaited by
the foreign financial interests, although I
do not think the delay had q very deter
rent eiiScl on purchases OIL pul SccuIl-
ties.
Things here, believe. very sound
and the railroads stronger than ever, de
spite the decision q! the interstate com
nerce commission. These are simply
typical"
There is more talk than action in Paris
regarding the listing Of American securt-
ties. Almost every week a report is
cravely published that such and such
stock is about TO be elevated 10 the par
uuet bit SO far these reports have sell
dom been followed by action. AtchisoD
according 10 statements widely published
is already to receive this honor. $l0,
100000 having been deposited In France
against the necessary bankers receipts.
Then ii was said circumstantially that
American Telephone shares arc In line
for similar promotion, but further devel-
opments are awaited Perhaps President
Wall gave tho movement "A boost while he
wss abroad The European investor is
not ~ the moment buying many Ameri-
car securities. London has taken large
stocks of New York revenue warrants at
tive deal in Il per cent discount market.
Britain Goes "the Limit
Investors can find 20 asylum free from
legislative harassment. When Germany
applied the screws 10 taxpayers. loud
there would send their money out OF the
country. Then the French government
passed measures moi at all 10 the liking
of capital. and the same ouicry was
raised. In the United states financiers
have storrned. for several years against
The attacks of the administration. But
now comes tho British government with
ton ever esseyed by any government.
Lloyd George. the man who precipila ted