The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-10-19
FINANCE AND MINING.
The Deep Creek Railway the ALI
Prevailing Theme.
LEAD HERE AND IN NEW YORK,
Rnsiness at Home and Abroad-News From
Many Mines-The Ore and
Bullion Output.

'sShall the projectors of the Deep Creek
road be granted the franchises and lease
asked forgn
This has been the query that has agi-
tated business circles during the week just
past, and which will form material for at
least couple of days to come-until the
council has decided whether or not the re-
quest made shall be granted. There has
probably never been question before the
present city council in which there was
the same general interest taken as in the
one now pending. There are differences of
opinion, it is true, and it is very difficult to
determine on which side the majority
stands. Taking street talk for it. however,
one would be compelled to believe that pub
lie sentiment is wholly in favor
of giving the projectors all that
they ask for. The arguments ad-
vanced in favor of the project are numerous
and apparently sincere, and are altogether
too voluminous to be discussed in Finance
and Mining. There were also some strong
arguments brought to bear against the
granting of the fran chise and lease, and
these, it would appear, were mainly based
upon the idea that the Old Fort property
was held by the city in trust for the use
and benefit of the inhabitants of the city,
and, therefore, could not be disposed of
legally. This idea, according those
in favor of the move is done away
with by the discovery that the city pur-
chased the property from one of the heirs
of the late Brigham Young, and, therefore,
has right to sell or dispose of it at any
time. The opinion of the city attorney is
not to be had, as yet, but 1t is understood
that it will be submitted at the fourthcom-
ing session of the city council.
Speaking on the subject of the Deep
Creek road, gentleman who is thoroughly
familiar with the proposed route says there
is none better. There is no doubt but
that the new company, if formed, will
absorb the Wyoming, Salt Lake & Cali
fornia company, which has acquired valua
BILE rights of way through the only availa
BILE passage in the eastern mountains, anC
which has spent considerable money il
surveys, cross -sectioning, ETC., and demon
strated the fact that road can be made a
a reasonable cost between Evanston ant
Deep Greek. The Importance of this lint
TO Salt Lake can scarcely be overesti
mated. From the Utah line on tn
east to the Nevada line on the west, it vii
open up country rich in building stone
coal, timber, silver, lead and othe
minerals. Only portion Of the countr
west of Salt Lake has so far been pros
pected, but the encouragement re
ceived is vastly more than one had an!
good reason to expect. The new road wi
bring the coal fields of Chalk Creek caf1o
right at our very doors, and will put a
end to all apprehensions of such co;
famine as we are now experiencing.
That it is to be entirely local road, how
ever, few are prepared to believe. 1t ma
remain as such for a couple
years, or perhaps more, but thi
it will be eventually pushed on to the coas
would seem to plain to admit of argumen
There are those who profess to believe tn;
the move is being made in the interest c
the Pacific Short Line, whose proprietor
see in this better and shorter route |
this city and the rich western section tina
can be obtained in any other way. In til
absence of any positive information on tt
subject, however, this, of course, in mere
given for what it is worth. That the gel
tlemen who are at the head of the ente
prise, however, ''mean business" the
would seem to be no room to doubt; it no
rests with the city whether or not the 70:
shall be built.
Real estate has been a little livelier III,
usual, but it has not reached point that
entirely satisfactory 20 dealers.
The stock market has been fairly activ
There has been no cessation to the bull,
ing boom, which is growing day by da
and the contractors are much encourag
by the present fine weather and the pre-
pect of its continuance.
Business continues fairly good, and il
majority of the lines is considerably in e
cess of thatenioyed at the same time a We
sgo