The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-07-12
HELENA'S HIGH PLACE.
How Eastern Financiers Look Upon
the Wealthy Capital City
Of Montana.
It Has a Standing Which Larger
and Older Eastern Cities
Have Not.

The Contrast between Public and Private
Improvements-The Prospects for
the Autumn-Gcnera Notes.
That the high opinion residents have of
Helena ID iustifiable is proven almost every
day. They say it ia the richest city for its
size in the country, because they know 1t to
be true. and have become 30 used TO daily
evidences of the fact, an to take this wealth
as a matter of course. During the past few
days there have been in the city sevsral rep
resentatives of eastern banking and tinan-
oial institutions, their visit being for the
purpose of bidding on the school bonds.
Among them was Allen b. Forbes, repre-
senting N. W.. Harris IL Co., of Chicago.
1t was Mr.. Forbes first visit. and
yesterday. after looking over the city for
three days, he gave it as his opinion that
the claim of the people that Helena is the
richest town in the country for it's size, is
we'll founded. 81 nave met with a number
of surprises since coming here" he said,
but perhaps the greatest was in connec-
tion with the sale of school bonds
or Friday. I came here to buy
seven per sent. bonds, but shortly after
the bidding commenced I dropped out
because your local banker were willing to
take the bonds at par at six per cent. In
large cities in the east securities Of this
kind are usually sold below par, and in
many cases draw seven per cent. When
you remember the present stringent condi-
tion of the money market and then find
school bonds selling as those did yesterday
you can mako up YOU mind that the people
who issue them stand very we'll with the
world as regards credit and ability to pay
their debts. All Montana securities, how
ever, are considered first-class in the east,
while Helena bonds are gilt-edge. Tho city
is very we'll known and is regarded as a
town with great wealth and promise. The
magnitude of the transactions in which
your business men are interested is also a
matter of much surprise to me. In the east
4 city two or three times the size of this
does not begin to compare with il. Here
deals involving thousands of dollars are
and are regarded as affairs
of no very great Significance. The loyalty
of the local institutions to the city is a very
conhmendable thing, but in this case was
somewhat Disappointing to me. / am very
glad came to Helena, because now / can
appreciate the city's resources"
Referring to the financial outlook. Mr..
Forbes said his house looked for a gradual
easement from now on, and everything
pointed to a prosperous autumn all over
the country. The unexplained drain Of
gold to Europe was the only unfavorable
outlook. This feature was a puzzle to the
ablest tinanciers.
The character and magnitude of private
Improvements in Helena, in comparison
with the backwardness of those of a public
nature, is a matter which impresses every
visitor to the city, and is the occasion of u
great many comments. The rough appear
ance of the streets comes in for a share of
adverse criticism, but 10 more than the
character and condition OF the sidewalks.
One gentleman remarked that Helena
reminded him of q man in a full
dress suit, his neck enoircled by
a ragged and dirty wooden comforter. AS a
rule the eastern section of the city is ahead
of the west side in the matter of it's side
walks, but this is due largely to the fact
that the work in this line there is of more
conditions existed such as now hold in Hell
ena, the remedy has been found in the selec-
ton of a board of public works, composed
of men thoroughly conversant with the
subjects that come under their jurisdiction,
and who devote their entire time to the
work. While the mayor and aldermen of
Helena average we'll with those of other
cities, it Is too much to expect, that busy
men, whose term Of Office 10 limited, can or
will devote the same time n care to the
work of public improvement, or have the
same knowledge OF the subject, as two or
for the work end paid to put
all their energies INTO it. A
few property owners have sufficient pride in
their property to bnild permanent side
walks, but in order to make it universal, a
permanent grade must be established, and
ouch walks, as to width and materials, as
the city fathers may decide. Until this is
done, the narrow, decayed alleged side
walks will continue to be Il menace to limb
and n blot on the city.
Helena and Montana are all right. The
INDEPENDENT has made the assertion a
number of times in the past two months
that the last six months of 1891 would be
the most prosperous half-ysar the city and
state have ever experienced. Reading it in
tach the weight to the statement they
would if it had come from out
side sources. On the first of July
and the first of January in each
year the IL. Il. Dan d Co., Mercantile
agency publishes reports from all the lead
ing cities in the country on the business out
look. The reports are carefully compiled
by experienced men, and give the situation
just as it is. This is what the Dun agency
reported on the first of this month concern
ing Montana:
Heavy snow falls and copious rains dur
ing the past six months have obliterated all
fear of drouth for the present season, as
surinR good crops and bountiful grazing
throughout the whole of Montana and an
ample supply Of cereals, ETC., for home con-
sumption. The best informed authorities
estimate that herd owners will this year
realize from sales of cattle $4,000. 600, wool
100000, sheep and horses VI, 000.0 600, that
the placer mines will yield over 81, COO. 900.
and that the quartz output will exceed $42,-
100000. The Pacific extension of the Cheat
Northern, comprising about 600 miles, ia
developing in the northern portion of the
state a large section of country rich in ag-
ricultural products, grasses, minerals, coal
and timber. This locality ia being
rapidly settled by an enter
prising class, and new farms,
new towns, new manufactures. and new
enterprises of various kinds are noticeable
ali along the line. Trade is and has been
quiet for tho past twelve months, collec-
tions have been slower than ever before,
and on this account the volume of business
hnu haan p,rAoiln1 op1 Duur,npto lao,