Great Falls tribune. [volume] (Great Falls, Mont.) 1887-1890, 1890-01-01
BUSINESS AFFAIRS.
INTERVIEW WITH THOMAS GAIA
GAN ON TRADE AND FINANCE.
Mr.. gahaean Speaks Interestingly of the
state of Trade-He Outlines From a
Business Point of View The
Industrial Prospects Of
Great FalIs-SOund
Reasoning.

Thomas Gahagan, the mortgage banker
and representative of the New York
Life Insurance company, returned re-
Gently from o business tour through
Northern Montana, including the Judith
region and the mining districts of the
Belt mountains. He was interviewed to-
day by q TRIBUNE reporter, regarding
the general condition and prospects of
North Montana from n business point of
view.
"What IS the general state of trader"
he was asked.
at is sound" Mr.. Gahagan replied. ~
find that the stores here and elsewhere
carry large stocks and are close buyers.
Their credit, IN general, is A l. They
turn over their stocks quickly and make
large sales, the bulk'o which are at 80
days time" :
sWhat is your general impression of
the city?"
II observe that 1t is settled by a thrifty,
enterprising class Of men who are not
given to gambling or drinking but con-
duct business On q sound basis. The i'm
proyements are of q solid and substan-
tial character"
allow does the credit Of the rural dis
tricts stand%
Every fair. The loans which the farm
ers or ranchmen are now raising are for
the purpose OF fencing and buying
thoroughbred stock to improve their
herds, The days of the large herds are
passing away rapidly. The farmers are
combining tillage with the raising of
small herds of cattle and sh eep and bands
of horses. They are thus making profits
such as would make an eastern farmer
envious."
"Is money in request?"
"There is a healthy demand for money
at a low rate of interest such as eight or
nine per cent. on security worth three
times the amount of the loan. Heretofore
the current rate has been one per
cent a month. But the returns
are so prompt from mixed
farming that the rnnchmen can make
good terms. Hence the rates of interest
must decline gradually"
"What, in your opinion, will be the
general effect Of the improvements that
are to be made hereY"
"The building of the dam, the CON
struction Of the Boston & Montana smell
ter and the building of new railroads will
give employment to a large number of
men and will create greater demand for
dwellings. Such houses, l find, yield on
the average q net return of at least one
per cent q month on the cost"
"What is your opinion regarding the
current values of real estate?"
"The prices of real estate in the town
and the adjoining additions are fair, if
we make the present population and vol
m of business the basis of our calcula-
ton, but when we consider the improve.
ments that are in course of construction
investments made from now until mex
summer at present values or thereabou+s
must give a return before long of 100 tt
200 per cent"
"The reasons for this great and rapiC
increase are that the immense water DOW
er, that will be rendered available, en-
sures that factories of all kinds will bt
started here to utilize ii. The Boston &
Montana smelter, that is now being built
must be followed by others of like mag
nitude for the reason that while the east
ern copper market is ruled by the six
teenth Of a cent, any company which hat
not abundant water power and cheaI
fuel, at its command could not compet
with the companies possessing the waite
power and cheap fuel that Great Fall
offers to all establishments that will 10
cate on the banks of her broad river"
"You look for other industries.
alphabetically"
The smelling of gold, silver, cor
per and lead ores Is not the only worl
for our furnaces. The mountains in thi
region abound In the finest iron ores, fl
for the production of steel. Fourteei
miles from town, as you know, the coz
mines are shipping 1000 tons OF cokin
and steamlng coal per day. Charcoal
made within 80 miles of the town. 8
that we have at hand all that is needle
for the production of Bessemer steel.
"The new Belt mountain railroad wi
aid that movement?"
at will. The track which is now neal
ly completed into the Belt mountains ir
sures an unlimited supply Of gold, silve
lead and iron ores which can be reduce
here more cheaply, o economical.
than at any other place in the country"
"You have seen a great deal of MOI
tana recently, Mr.. Gahagan"H
"Yes. During thu last four months
have examined Id strict Of about 6,0(
square miles. l have gone over ii
ground adapted for ranching as well
over those mountain ranges which co
tain minerals. I have found NO where
Montana, or for that matter in Washin.
ton, Idaho or the Dakotas, any place sue
as that which exists within a circuit of
miles Of Great Falls; I mean in all dire
tions."
"This conclusion l have come to aft
careful observation 10 all the new stat
named"
"Provided that o man is sober and vii
ing to work he is bound to succeed he
no matter what his occupation may be-
"What do you think OF the climate? 7"
"As regards the climate, 1t is n Of II
finest, II not the finest in the Unit
States. Dry, clear, braclng air, at 9
times. Our summer nights are cool al
as you know at Christmas the thermnm
ser stood att42 and people could wa