Salt Lake Telegram | 1920-11-22 | Page 12 | Great Amount of Financing Done This Year

CRE T AMOUNT Oj OF FINANCING nONE DONE YE R That Tat for Industrial Interests Breaks Breas All Al Records in First Fist Eight Months Monts NEW JEW YORK Nov Now Now that that IndUstrial Industrial industrial Indus IndUs- trial financing is on the wane wae because of I slowing up of Industry and ad sharp shar decline in commodity prices price it I is Interesting to note I the enormous amount of financing done this year ear For ten months ended October 31 in industrial In- In financing broke all al records with 2 bonds notes and stocks stocks This compares with In the same 1 period rod l last ast st year a record amount up to that tat time or Of the Issued In isse 1 was WI in stocks tock while eoe consisted of Ivans ons In bonds and short short- term notes in bonds and 4 In notes note Preponderance r 0 of ha note o eh Issues In 1920 1320 was dU due to the rf fact 1 that throughout the y year Interest rates rales were unusually high and Inmany in inmany inmany many cases caes loans were needed only to tide tdeo o over er a a temporary period of ot high Inventory Inventor prices s which necessitated an a large working capital for Industrial corporations In banking circles it is generally believed that in the near future money will wi be cheap Lessoning demand of industrial cor- cor and ond nd slowing up of business should help produce such a While general financing Is expected to fall falloff falloff tn off of soon apon the railroads and public utility i will 1 b be b In the market for a great grat and I amount Much financing for expansion i refunding refundinG purposes postponed the last lat few fe years bee use of abnormal conditions of the thet t 1 I money market will wil be taken up as soon as asI I conditions It possible to obtain loans at a a. reasonable rate nic are working strongly I In f favor or vor of ci public utility corporations Lo LowI Low Low- I tYIng of ot commodity prices prices p particularly coal 1 I and growing efficiency of labor will wi soon be ber r r reflected In earnings of these companies i With lh credit restored to 10 a prewar status many attractive offerings will wil be presented to tA the tho public