| Show END El OF FLURRY GOMES COMES SUDDENLY New York Bank Statements Encourage Local Financiers Financiers Financiers Finan Finan- ciers Greatly SITUATION SOON NORMAL Gradual Begins In Many Marts all Over Country far Car the time banking It lt means menns that so o as ns situation II Is concerned there I Is now no reason wh why time the r financial In Institutions In every ever part of or the country countr should not speedily return to normal rules of ot bus busi ne ness s Wo We 0 knew of or course that this was coming but we did not expect it quite so soon soon Such was wan tho the statement of or a local banker last night in commenting on n i ithe the statement of or the financial situation i sent Nent out CitE from New tw York tork at nt the close of or Saturdays Saturday's business Tho The banker commented on the time surplus shown h by bythe the ime banking institutions of the country pointing minting out that the statement shows the he most prosperous conditions that have ave existed In months month The suddenness with which tho the change hange for tOt the better came when It did dILl didome didome ome was the remarkable feature of he thc situation to those who were wert watching watch watch- ing ng It most closel closely A week a ago o peo peo- JI people o- o of or mind In Inthe plo do were w re In a hopeful frame he the full belief beliet that tho the crisis was past Jut lut the they did not look for tor any radical hange chanKe In con conditions for some time Then it seemed as If I time tho Iu financial sun came out from front behind the clouds and the financial stringency ency was practically proc over o almost as suddenly as It ii had come on flanking Banking Institutions be gradual in fri letting will t of course down the tho bars entirely and returning absolutely to old conditions nut But they thc say those conditions are ate surely coming house One feat re of th local situation situation In Inthe Inthe inthe the past week weck was the thc sudden l Increase crease In clearing house balances In Salt Lake I For Monday Tuesday and Wednesday of the past week they were as compared with O 8 Cor tho the corresponding throe three days S 'S of ot the tho year car carb before b For Thursday Friday Frida and Saturday of or the past week the they wore were 2 as compared with That Is to fa say for three days of the tho past week weel tho the balances were about 3 7 per cent of what thc they had been heen last year car For the other three days the they were about 60 per cent of or the previous year ear Two main reasons were assigned ed b by denting clearing house officials for this Ono Ono One was that the Salt Lake banks started doing business with country countr banks hanks through local correspondents instead tI of or settling with the country bank di di- di This is the normal manner of oC doing business between city and count country coun court try t r banks lanks ban ks The Tue other reason was ws perhaps oven een moro more potent Some o ol of the elt city banks bank again began the tho habit n of 01 turning their 1 house liou o V for ro io no dray In with tho the next days day's business In other words the they lid did not demand an Individual Inell settlement with each bank bankin in jn the th association each evening The result was wn that the totals on tho the balance bal ance sheet showed correspondingly IY hi higher the next day Condition Uncle While the sudden Increase In clearIng clearing clear clear- ing log house balances can not bo be taken to mean a corresponding Increase inthe In Inthe Inthe the business transacted in the city It does docs m man jan an however a a. return b by the banks to the methods of settling settling- with one another r that prevailed before last laai October And the banks are returning to th the old methods because it is b be believed believed be- be the business of or the thc country Is about normal again Stilt Still another indication of pro prosperity Is pointed out by b local loal Jo l men in touch with witti the situation and that Is the fact tact that some at least of or the country countr hanks hanles have been shipping monc money to Salt I Lake ako for some time tim They Tho did so gO on the special condition that thc they would be me allowed to withdraw the whole amount a again If 11 needed But Dut the significance of or the act net is said to be that t the country banks could amass more ready cash th than n thc they cared to have on l hand during I a time tUne when money mon was vas a scarce article and many of or the big cities of the country country coun coun- try were doing their thell business with clearing hou house e certificates The fact Is it tak taken n to indicate the hl big difference between n the stringency ency jUIf closed cloke and those of former year thc yeara the effect It had on the agricultural a com coin In former years the greatest distress perhaps was caused Co among the owners of the farms that thai were mort mort- The panic was IlS induced as a n arule rule b by a a. succession of ot poor loor crops This year ar found the farmers after acter a. a num a-num num- num her ber oT oi years of or prosperity pro freer from debt than ever er before Crops have hae hoop ben from fair Calr to good and prices have vo been hl high h. h r lime 1 hc he result was that the he agricultural parts of or tho time count country w were ro able ablo to amass ss read ready mone money even o In times of ot stringency enc More Need or of I Labor With the return of normal normol conditions in banking is expected some slight re relief relief re- re lief lIer In tho the labor market Projects un under under un- un der way will be able to get monc money un-I un with which to 0 start or resume work I UI And A already Cerni Ce construction n n schemes both In the city and In the state have ha been announced to start and work has actually commenced o on some Others ma may begin soon but In Inthe Inthe I the time main they U will await the arrival 0 of ot wa warmer er Wea weather t h er Con Construction I ct on work must always he limited In the thew w winter in ter What will Ill bring the greatest relief when It comes will wilt be time the opening up tip of oC tHe tUe mining situation and this of or course CO is largely dependent on Oj the price of metals Ih The exodus of thousands thousands thousands thou thou- sands of ot foreigners from Utah however has helped the situation and with tho opening g of ot spring It ft In is believe 1 there will wills be he plenty of wo won work l for Cor nil all |
