Salt Lake Tribune | 1913-08-31 | Page 28 | Financial Review for the Past Week

FllCim REVIEW FOR THE PAST WEEK NEW YOPJK. Aug. 30. Tho last week In August In the stock market traditionally tradi-tionally is one of dullness and inertia. This condition was emphasized this week by the professional disinclination to enter en-ter on commitments on the eve of a three days' holiday Tho varying phases of the Mexican situation were a restraining influence on speculation, both here and abroad. Foreign For-eign money markets are more Interested Inter-ested in Mexican government securities than is New York. Of the two great factors, money and crops, whoso shaping is usually expected in this week, the Influence was conflicting. conflict-ing. The present money outlook Is distinctly dis-tinctly more propitious than was expected. ex-pected. Influences both at home and abroad have been conducive to this result. re-sult. The deposit of treasury funds with banks in the south and west has had a notable effect in loosening the stringency of bank credits. Mercantile paper has been bought with Increasing- freedom, so that commercial activity is not suffering from an embargo em-bargo on credit. Time funds on collateral also are offered freely. The improvement in the bond market is an effect of the same cause. The displacement dis-placement of the short-term railroad note by a long-term bond was a significant feature of the new financing of the week. Conjecture continues busy in attempting attempt-ing to sum up tho extent of the damage to the crops from the southwestern drougth. Such moisture as there was brought small hope for the corn. The effect on trade and Industry of the damage dam-age to corn and cotton are to be reckoned reck-oned with in the speculation. The unfavorable un-favorable crop news furnished the main offset to tho helpful money situation. Another advance In tho price of stock exchange seats was taken as evidence of underlying confidence In an Improving Investment In-vestment condition.