The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-01-27
FINANCE AND MINING.
Encouraging Outlook for the
Chamber of Commerce.
HOLM SILVER OPERATIONS.
Ore and Bullion Output-The Sugar
Company-Trade in the East
Lead Lower.

The success achieved by the solicit
ing committee of the Chamber of Com
merce, as reported to the meeting held
Friday evening, is such as causes no
little satisfaction to all who are inter
ested in the perpetuation of this organ
ization, which bas been power for
good in the past, and promises to con-
tinue its usefulness into the future.
The ease with which the sum of S. 900
was raised speaks we'll for the enter
prise of the contributors, and betokens
an interest in the Chamber that some
were fain TO believe did not exist. AS a
rule, our citizens are not given to horn
blowing and boasting of their own
merits and enterprise, but when ques
ton resolves itself into a cash trans
action for the public veal, they may al
ways be counted upon. AS was stated
by the committee in their report, there
were ffty-four members who were not
approached for contributions, because
of their absence from the city. These
are doubtless safe for another tho sand
so that we may presume the sum will
reach Sc 600. 1t is good advice, too,
that the committee give the the Cham
Der, when they say that for the satisfac.
ton Of many members who complained
that no itemized account of the funds
of the Chamber had beeL made, an
auditing committee should be appointed
for that purpose. and given such
powers as may be necessary to ex-
anime all books and papers and pre-
sent their report to subsequent meet
ing. Those who have contributed their
funds to the support OF the Chamber
have right to know when and how
the money was spent. There is no
reason why the officials should not be
held to account for the money placed
In their hands. AS before intimated.
it was because of failure to do this on
the part of those who lave managed
the Chambers affairs for couple of
years past that widespread dissatisfac
ton resulted, and this. more than any
other cause, had much to do with the
demands for a change in the directory.
The Chamber is business institution,
organized and perpetuated for mutual
benefit: it should be ruu on business
principles. This, we believe, is what
the greater portion of the dissatisfied
members wanted; they had right to
expect it.
During the last two years there has
been no little talk concerning the cree
ton of a Chamber of Commerce
Building. That one is necessary. none
will deny, and that it would prove a
good investment is beyond dispute.
We are led to believe that the chief
reason why the plans heretofore laid by
the Chamber fell through. was because
the tul6llment of them was beyond the
possibility of hope. The idea of pur-
chasing an entire block and the erec-
ton of structures that would cost mil
lions of dollars was praiseWorthy one,
of course. There was one obstacle,
however, to Its success, and that was
lack of funds. In other words, our
aspirations have been too high, and we
should come down to the possibilities.
There is no doubt but that a sufficient
amount can be raised for the erection of
building that will be credit to the
Chamber, and an ornament to the city.
The site tor such building, we believe,
can be obtained at very low figure,
as there are several owners of valuable
real estate near the business centre
who will enter the lists as active and
keen competitors in the hopes of secur-
ing its erection Oc or near their prop
erty.
The work of the Chamber for this
year has been begun in a systematic
and businesS-like manner. If it is con-
tinued on the same principle, we may
reasonably hops to see some of our
cherished hopes realiz ed before many
months have passed.
Advices from Sanpste are to the effect
that, notwiths landing The severe
weather. work on the Alexander
mine in the West Mountairs. is 60
ing actively ahead. .Itis expected that
the tunnel being driven in to cut the
vein at about eighty feet depth will
reach the vein this week, when a better
idea OF the character of the ore will be
1880 @ACAO 10 QUILL
tlty OF 1t, but near the surface it shows
low grade and great variety; it is ex-
pected that these will change at once in
better quality as to value and to con-
tinuity. The work will be pushed right
along without cessation. The Alex
ander enjoys the distinction of being
the first mine incorporated in Utah
this year, and as this is presumably the
lucky year, it may be good thing for
it or the owners. The stock will be on
the market in few days, and it is un-
dsrstood that a block of 1000 shares
has already been negotiated. An influx
is expected at the West Mountains with
the opening of the spring weather and
lively times are looked for. There are
. great many claims located and some
o. them will be worked.
The prospects now are that the Salt
Lake Sugar Company Will be incorpor-
ated within few days.
There has been little or no change in
the flour market during the week. The