Show AGAIN POSTPONED THE LOAN Groesbeck Company Board of Directors Direc-tors Decide on More Delay I Contrary to general expectations the loan on the Wasatch and other blocks owned by the Groesbeck company was not made yesterday by the board of directors but instead the former acton ac-ton setting Saturday as the date for the settlement of the matter was I rescinded and the closing of the deal was again postponed this time to I Thursday when it is anticipated that Mr Salisbury will be present to take part in the deliberations of the board I has been agreed that the amount of the loan shall be 75000 but some change may yet be made in the sum or the faction which has always been antagonistic to the loan and rather in favor of an assessment may secure a control of the board and defeat the move entirely There is a great rivalry among the loan agencies of the city over this deal for there is an overabundance of cheap money at present held here for investment invest-ment in good security The security offered by the Groesbeck company Is gilt edged and for that reason all of the companies which are endeavoring to place loans in Utah are willing and anxious to advance the 75000 or any other amount within reason at a rate of interest not to exceed 6 per cent per annum Eastern money is not finding many takers here in Utah just at present and in consequence the markets mar-kets are flooded with the idle capital Offers are being freely made to place loans on first class residence property at 7 per cent while good business real estate can get all the money required I at 6 per cent even though the amount required was not large The local banks are also cutting down thel interest rates which formerly ranged I between 10 and 12 per cent |