Deseret Evening News | 1900-08-10 | Page 3 | Money a Drug on the Market

t OX TIm Thu So Sits HI tU S o in III thin Iho Static ot I e York Au Aug lOTh herald prints prInt the following Russell Sage 1 is not I t y a any mla with tb the pr t e erat rat rates Tre There I is dan danger of very verr ba heavy losses under present t conditions toD bi he 1 said be becu because cu cause ot of the kind 0 of clat collateral bk banks are JOW HOW accepting The Th bl banks are comple compelled tu to accept It In ore order to lo loan their money at aU all Money Mone is II a dru drug drugon I Ion on the market now I It I is I a v very un unsatisfactory satisfactory condition With tb the p pos possibility of tal falling II nil prices for securities clent lender lenders protected may find themselves Mr r Ble Sage expressed th the view that what hat the situation needed w was a higher money rate He said the success of the British war ar 1011 1 which star aur him although he be WI was WIla glad la to H see I it vas I 1 largely due to the mind mand tact that money mone wu was J in 1 so little de demand demind BuL the Englishmen tl used good jud Judg r meat ment In deciding to 10 issue the bonds at 9 1 he Te They could not have floated at pr par I think I N doubt I It they could have cone done 1 so at Mr t Sage wal was ake I It I be had car tied out his hll Intention b by subscribing to the I Itan Rn I 1 entrusted m y subscription to III an another other mn man sid said he aced I have ae not her heard yet et whether h he l got the bond I Idid Idid did 1 so to the In good between the two r which th lo least should hould t It the attempt temp to 10 place an English lo loan b bad been a disappointment It might have hindered