Ogden Weekly Standard | 1905-11-17 | Page 3 | Money Going East

MONEY GOING EAST high rate of interest in york tho cauce chicago nor li chicago bankers express satisfaction over the money market although in new york there may be apprehension by market interests the high rates in the east have resulted in a great deal of western money finding its way to wall street A continuance of this situation will work to the disadvantage of western commercial borrowers it has already resulted in rates of 5 12 1 2 and 6 per cent these quotations are as high usually as commercial interests expect to pay in times such as these A of 10 to 20 per cent call rates in new york would attract so much more money from calca go and other western centers that business paper would meet with difficulty in being placed so far as stock market loans go they are not made in chicago la sufficient volume to cut any considerable figure and in the matter of accommodation tor commercial interests there would be an abundance of it here should raes decline in new york and thereby bring about a return of to home institutions