The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-03-16

less in proportion to the capital invested
and business done than those of other
similar concerns. Thousands and thousands
OF dollars of its profits, instead of going di-
rectly into the pockets of the stockholders
have been expended for the benefit of the
city and territory in general, as in the
establishment of industrial and manufac-
turing institutions in which the people
could be employed and the natural re-
sources OF the country utilized. 1t is pretty
generally understood that there is more
money in merchandising where it is sue
cessfully conducted, than in banking; but
THE HERALD ventures the assertion that
the shareholders of Z. c. NJ L have not
received as dividends on the money in
vested one dollar where those of the
Deseret National bank have received two.
z. c. NJ. 1. stock is worth in the market to-
day from $50 to Sl35 per share, while the
bank shares readily fetch 1915 each,
or nearly three times as much as the
former. This difference in price may be
attributed to the fact that the institution
has established, fostered and sustained en-
terprises which had for their object the
good of Salt Lake. At present 2. G. M. 1.
stockholders receive 10 per cent dividends,
those of the Deseret National bank 81 per
cent. We mention the Deseret in making
this comparison, though it is not doubted
that MCCORMICK & Co., WELLS, FARGO &
Co. and other banks have done equally well
with the one named.
1t is mighty mean man. and one whose
soul is of the small kind, who does not look
with pride and pleasure on the z. G. NJ. L.
shoe and clothing factory, on the tannery,
and OF the magnificent stores of the insti-
tuition. These all are monuments to the
generous public spirit of the owners and
managers of the great concern.
Is the Deseret National bank menace
to the business interests of this city, Gov
ernor THOMAS ? We do not think his ex-
cellency will answer in the affirmative, and
yet its owners have had three times the re-
turns from their Investment that have
gone to the owners of the con-
Germ which he attacks. The Deseret
is known from one end of the republic
to the other as one of the most solid and
substantial institutions in the land. Its
reputation for careful and conservative
management is second to none, and all
classes of our citizens take pride in the
grand record it has made WALKER BROTH
ERs, GEORGE A. LOWE, the AUERBACHs and
others of our capitalists and business men
and firms have records of which they I'd
we are proud. THE HERALD is confident
that it speaks within bounds when it says
these gentlemen have made from two to
have the 2. G. M. l. shareholders, and this
being true, why does not the governor de-
nounce them as a menace to the business
interests of the city
Some time ago the HOWARD SEBREE com
pany was purchased by the Cooperative
Wagon and Machine company, which, in
the esteem of a certain small-souled class,
would probably make the latter company a
menace to the business interests of the
city.
1t is Gentle enterprise" which causes
the street car company and the gas com
pauy to fall into the hands of non Mormon
capitalists; it is Mormon ''monopolyn
when an enterprising Mormon company
purchases competitor.
When the street railway and gas COM
pany passed from Mormon to Gentle con-
troll, THE HERALD did not denounce the
business because the purchasers were its
political opponents. The transactions were
perfectly legitimate, and they did not sug-
gest any menace to anybody or to any in
terest, though his excellency and his news
paper organ would have seen something
wrong and threatening if the buyers and
sellers had been reversed.
If Governor THOMAS and those with
whom he trains would be fair and just; if
they would work as earnestly for Salt Lake
as they do for the advancement of their
political party; if they would keep
partisan politics in its place and
not mix it with business and
all the affairs of life; if they would recognize
and applaud enterpri Sc and merit, as The
HERALD does, no matter by whom dis
played, it would be good deal better for
this city and for all the citizens. So long
as the good done by Mormons is denounced
as bad, so long as Mormon enterprise and
Mormon progress are proclaimed against
as vicious and vile, we suggest that there
cannot exist that harmonious feeling in
the community which is essential to the
public welfare, and which would bring
about the best results in the way of material
progress.