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Show BRILLIANT ' OUTLOOK FOR BUSINESS. No more cheering news to the country, and particularly the in-termountain in-termountain region, has been received than that which is contained in the weekly financial letter of Henry Clews of New York. Of particular interest to Utah is that part of the letter which refers to the great amount of reconstruction work which will bo done by the Gould roads under the leadership of the Harriman interests. The review's statement concerning the business outlook in the west is also most encouraging to the trade. Mr. Clews in part says: "The event of the week was an important change in the man agement of the Gould system of roads and the turning of them over to prominent banking interests. The talk of a contest for Missouri Pacific was unfounded, for the reason that these negotiations have been going on in a friendly manner for some time past. This trans action eliminates one more weak spot from the financial situation. And now that the GouTd properties have fallen into exceptionally strong hands, the probability is that an era of reconstruction and upbuilding is in store for these lines. Whether they will bo remoulded re-moulded into an independent system or whether they will be par celled out among other systems is not yet divulged; but it may be accepted as probable that the new managers have important plans in prospect which will ultimately affect the railroad world favorably. In any event this deal removes an important element of uncertainty from the market and should add to the stability of values in an important im-portant group of railroads. "Following the advance of 10 points which has taken place since early December there was continued realizing and taking of profits. This distribution of stocks heretofore held in strong hands naturally weakened the technical position. Money is plentiful and outside conditions con-ditions show an improving tendency, but owing to the continued conservative attitude of banking interests there is no disposition to foster undue speculation. As expected, the Bank of England rate was lowered this week to 3 1-2 per cent, this action emphasizing the easy and improved condition of monetary affairs at London. In Paris also there is an abundance of loanable funds, and throughout Europe financial and industrial matters are in better form than for some time past. This fact is, of course, favorable to the placing of American securities in foreign markets. During the last two months Europe has been a liberal subscriber to our new note and bond issues, without which it would have been difficult if not impossible for American railroads to obtain the funds which they imperatively require to carry on contemplated improvements and extensions. |