The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-04-20
FINANCE AND MINING
Silver Slartles the Natives, but
Lead Remains Stationary.
THE ORE AND BULLION OUTPUT
The Salt Lake Stock Exchange American
Fork Canyon Properties Mines
Of Utah-Park City Quiet.

Among the principal events of the week
lust closed was the organization of the
Salt Lake Stock Exchange. the final steps
IN which were taken on Friday evening.
According to the articles of incorporation,
the business of the exchange ''shall be to
maintain stock exchange in Salt Lake
city, Utah, for the purpose of dealing in
mining, manufacturing, bank, government.
street railway, gas and any and all other
stocks, whether of corporations organized
under the laws Of this territory, under acts
OF Congress, or under the laws of any
other state or territory in the United
States; and also in any and all stocks
issued by corporate bodies organized and
existing under the laws of any and all
foreign countries; and further, to provide
for the mutual convenience and advan-
tages of all persons who may be engaged
IN the business of dealing in any or all such
stocks, and in any and all such securities
and further, for the promotion of just and
equitable principles of trade in such stocks
and securities, and for the avoidance and
settlement, as far as practicable, of con-
troversies arising in the conduct of said
exchange business" The capital stock is
placed at $4,000, divided into shares of 500
each. The exchange will be ready fer
active business in few days
The real estate market during the week
has been moderately active; there is not
the buster and stir that characterized it
during the latter part of February and
March, but conservative, established realty
dealers are glad that it is so. The ''float-
ers" who came in with 500 and silk hat
each. expecting to go out in few months
with big bank account, will doubtless be
doomed to disappointment; this was the
case two years ago, and history will repeat
itself. The solid, respectable dealers, how
ever, will remain and grow rich as others
Of their class have done before them.
There is scarcely need to call the atten
ton of the average citizen of Salt Lake
to the fact that the building
boom is growing in Importance daily.
Within stones throw, there
are going up what will vet prove to
be some of the most substantial
and handsomest buildings IN the west
the chamber of commerce block and Hotel
Ontario. On the east side, work is being
pushed on the mammoth hotel; in every
direction excavations are being made for
business houses. or the buildings are be.
ing built, to say nothing of he numerous
residences that have been erected
already this year, and hundreds of
others that are now in course of construc-
ton. Business houses and residences are
generally leased long before they are com
pletee. and in some instances before the
first pick has been stuck into the ground.
Trade generally during the past six DAYS
has been Of very satisfactory nature.
There is no Disgusting the fact, however,
that the unreasonable weather has its
effect, and that effect is not conducive to
big business.
Among the biggest surprises of the week
was the raise in the price of silver 1t is
true the raise was gradual one, but many
had the idea fixed in their own minds that
there would be a retrograde movement
before the dollar mark was reached On
the 1st of the month, silver was 952[; on
the Sth, 90; on the 18th, 963s; on the 18th,
97116; on the 18th, 9S1S; on the 10th, 9915
on the 18th it rose to 1907, and has re-
manned at that point ever since AS a
result, mining men generally are very
iubilant, and seem to have confidence that
There will be no downward movement for