The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-10-12
LONDON F|vANC|ERS
BECOME OPTIMISTIC
Bankers and Brokers See
Marked Change in the
Situation Abroad.

! Tho London correspondent OF the Wal
| street Journal SAWS that probably within
| the memory Of the Oldest member Of the
stock exchange there has never been
| such period of pcssimsm like that in
| London financial circles for tho past
| eight weeks Certainly market mou have
] not iatled 20 make the most OF the facts
NOV That The situation Is Frightening
| II Is well 10 point out how greatly the
market has benefited. There has never
| necu such a completc wedding out OF
| weaklings. y LOT OF bankrupt stock
oNcraangs the market. and every day or
| Two There Is an unpleasant reminder OF
| tnn tact from he continent But the
weak accounts have gone, including the
dangerous speculative commitments run
ON bank loans instead OF being carried
oVTr on margin in the market.
,lms past In Americans they arc afraid
OF Wall street developments. Tn Karflrs
they were afraid Of the mining mag
mates thinking that they were working
aSains, them. and that the East Rand
and other scandals were likely TO iniure
business. Toe kafflr dealers were bears
almost TO man. Nobody had good
remarkable 10 notice now assumed as a
matter OF course il was that the railway =
mad bad case to present 10 the railway
commission.
situation there was Il decided change Of
front. II was realized that the bank rare
y
very moment that the German bankers in
LONDON wero Siihly assuring the stock
cNcnanee that they had no bad news ghc
dcpn,ation of Berlin bankers was pre-
pairing to 20 to the German foreign Of
1ce and talk of panic. But nobody i'm
LONDON cared snap of the finger when
the Moroccan danger was removed
Despite the French withdra walls of cred
H. They said. Berlin Will struggle through
it's end or the September difficulties If
they are merely nuancIsl. There was a
teeNnG that most had been made of all
adverse news.
Immediately the situation frightened Il
was noticed ;hat genuine Investment or.
ders came 10 market even in home rails.
Tor ii was felt tnat the railway trade
unions had made great mistake in
interfering, in the Irish dispute not o.
wages or hours. nut of syu.-s ;hcfIc RS
sisinncc. due 10 disputes in the ti,D5c-
trade There was an outc.y in Ireland
and the Nationalists were lukcwarm al
most. and often positively hostile 10 the
aSuon OF the unions. Coming a tho time
plncked up heart and agreed that Is did
INJURY 10 tho case for recognition OF the
unions, tnd II was significant chat All
tnrouSn inc evidence of the railway ON
Gals there was no attempt OF the labor
members or tho commission 10 examine
tncm on the specific charges Of bad faith
so constantly levcied against the com
,anlcs by the trade union witnesses. On
INC contrary. the railway companies dis
puted the accusations made, without ne
nS challenged in cross-eNanlination such
points made for market confidence again.
The kaffr market discovered also tina {
African government had agreed 10 tnuuiro
mo the East Rand scandal. II was felt /
mat at last the public would have rea-
son FOR feeling moro confident Then
anne TAX OF record Rhodcsia output |
is front.