The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-05-04
A MAMMOTH PACKING H0USE---REAL ESTATE AND BUSINESS

ering the immense amount of money being
used in building aud buying property, it is
wonderful toat the supply keeps up and
that deposits hold their own. The silver
bill means more for Utah than any man
can compute. The general demand for
money is to discount real estate paper"
WELLS, FARGO & co.
'Money is a little close. The rate of in
terest has not changed any, We are not
loaning any on real estate; none of the
MCCORMICK e. co.
Mr.. Mccormick, of Mccormick & Co.:
Money is comparatively easy. Some out
side capital is coming in. No, we do not
loan on real estate. The silver bill is the
greatest hope we have for putting plenty
OF money into circulation. The rate of in
terest is from 10 to IL per cent, princi-
pally on short loans.''
zIoN's SAVINGS BANK.
b. H. Schettler, assistant cashier of
lions Savings Bank and Trust company:
Cur loans are based on 10 per cent. We
nave not at present enough money to meet
all the demands for loans that are made
upon US, though sometimes we have more
money than we can place. There is not
quite as strong demand for money as
good deal to do with the condition of the
local money market, as where parties are
buying heavily they want the banks to
carry them for 90 per cent. of the invest
ment. Ii there is revival in speculation
there will be a greater demand for money.
Money is generally wanted for speculation
in real estate, and when that is quiet there
is little demand for loans.n
T. r. JONES G. co.
"For all legitimate purposes, where
securities will be accepted in the east.
money is plenty,n said T. R. Jones, and
be protested against having this statement
circulated as the other bankers would join
in the chorus: 'Jones is talking, again p'
Inc reporter insisted that Jones was en-
titled to his say and that his opinion was
as valuable as any of the others, and more
so when IL struck an original vein. Mr..
Jones was induced to go on.
1--WE loan on real estate at from to 10
per cent, but it takes gilt-edged security
to secure theS per cent. rate" continued
Mr.. Jones. Money has never been
cheaper in this market than per cent for
two years on, reliable property. There is
plenty of outside money when security is
ample. look upon money matters and bust
ness matters as encouraging both in the
east and in Salt Lake. If we get
law preventing lead importation
and making silver legal tender we
will be very happy, and we
have very good reason to believe that we
Will get fair bill on silver and one stop
ping the importation of lead ores. This
means that 20 per cent. will be added to
the total valuation of the production of
silver and lead in this territory, all of
which will be profit to the producers.
In addition to the new banks, there are a
number OF loan and trust companies that
are bringing in large amounts of eastern
capital which will surely have tendency
to ease up the present pinch, so that hold
ers of real estate can receive some con
sideration when they hold paper secured
on real estate worth three tunes as much
as the loan demanded
See our brick land property before in
vesting elsewhere. De Witt B. Lowe &