The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-12-25

| EssSS FMN City. The interest OF mum Der
| ~ Gyyof Omaha people was obtained,
! VG$SeE<N' and a lar e number of people
! MaM Shere in Salt Lake subscribed to
| W the stock of the company. The
| 80 Omaha people paid up $4,000 in
stock, which was made the first
payment on the land purchased by the
company, some three hundred and five
acres in all. This ground is portion of
what is known as the old Cooper farm, is
very valuable for such purposes as the
company proposes TO use it. Both the Rio
Grande Western and Union Pacific Rail
way companies pass through the ground,
and the Great Salt Lake & Hot Springs
line is now completed to within few hun
dred feet of the land. At slight depth
large quantities of pure water can be OBJ
tanned at any point on this land by means
of artesian wells. The ground is in Davis
county, and properly located for such in
dustries as are dependent for their
raw materials from cattle and sheep.
A proposition started by some of the in
terested parties to take in large tract of
land, until the property of The stockya ards
company's holdings would amount to nearly
two thousand acres, had an effect to unset
tie the ideas of the promoters and they
failed to collect the subscription made here
in this city; then came the failure OF
number of strong eastern houses, and the
money market being stringent, making it
almost an impossibility to get any new en-
terprise under way. In fact. majority of
the people had supposed that this great
boI Follo fbo Of no
balance of our proposed benefits, and was
marching in solemn order to the depths OF
oblivion, arm in arm with the Deep Creek
railway aud the public buildings; with the
parking of the military reservation as a
guide, and the Garfield Beach hotel as a
rear guard. To show how little interest
was taken IN the project and how doubtful
Salt Lake people are of new moves, it
would not be out of place to state
! that it took two men sixty avs before
a meeting of the old directors could
be arranged for to get seven of
Utah's best people together; and
then they wonder why. outside capital
is not passing every other town to find in
gestment in Utah. After a good deal of
work a meeting of the ola stockholders
was obtained. who voted to reduce the
board of directors from thirteen to seven.
Most of the original directors and officers
resigned in order to enable people VINO had
the time and interest to take charge of the
affairs of the company. The old subscrip-
ton was at once made payable and the col
| lection Of the same commenced. Some
twelve thousand dollars additional sub
scriptions from local people were obtained,
but even with this addition the company
could not see it's way clear to make its i'm
provements and take care Of the incum-
brances on the property. Colonel G. F.
Morse, general manager of the Kansas City
Stock Yards company, and one of the
brightest and most successful business men
that the west has produced, was consulted
in regard to what was best to do, and the
best way to go about interesting eastern
capital. This gentleman visited Salt
Lake city, and after looking over
the proposition suggested that the
Union Stock Yards company, in order to
raise money to carry out it's plans and clear
itself of debt, issue bonds to the amount of
$50 600 to run five years at per cent inter
est, tlese bonds to be taken by the Kansas
SlIy SlOCh L dIQo pduy III OluGE
words, after looking over the situation,
Colonel Morse decided that the business of
stock yards here would be paying enter
prise, and that his company was perfectly
safe in taking the bonds of the Salt Lake
company. The getting of the friendship
and interest of Colonel Morse and his com.
pany means great deal for Utah and will
mark The commencement of a new era OF
prosperity in directions heretofore unde-
veloped. These bonds are all ready To be
issued, and on January /, 1892, will be de-
livered to Mr.. E. E. Richardson, the secre-
tary and treasurer of the Kansas City
Stock Yards company, who comes here
with proper authority and money TO take
them up.
Up to this date all that has been done in
the way of actual improvements on the
grounds of the company can be stated
briehy-sone 5000 feet Of railroad tracks
have been laid on the company's
ground. The area, some seven acres to be
covered by yards has been cleaned and
leveled ready for the work. The track 10
be used for unloading and loading cattle
has been sunk four feet and half below
the level of the bank so that stock can
walk out from the Car door TO the level
ground, and not be frightened by inclined
chutes. The lumber, some 26O0 feet, is
unloaded and piled on the ground as are
also the posts, some l, 75Oin al. The cat
tie scales of Fairbanks make, with
capacity of $4,000 pounds, are on the way
here. Work on the erection of the yards
will not be commenced till Mr.. H. P. Child,
the superintendent of the Kansas CITY
Stock Yards company, arrives here to take
active charge of the work. Mr. Child so
brings foreman with him. The contracts
for the buildings have not yet been made.
nor has the lumber been bought. Changes
were necessary on account of revised plans
of the yards. The buildings at the yards
will consist of an exchange building. two
stories fftV feet by 1nn feet