Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-05-13
BUSINESS MATTERS.
Eastern Capitalists Who Cannot Bid
on Utah School Bonds.
A TOWN PLATING CORPORATION.
Real Fst,ie Matters. Wyoming and
Utah RaIlway.-Mlning and
Other Notes.

Tho present stoto OF the money mar
Ret may have a bearing on tho pro.
piiety Of issuing OF bonds at present by
the Sslt Lake City school district. The
unsettled condition Of financial aiairs
was believed TO have illuminated In the
recent panic In New York, to settle In
reasonable time 10 Its normal state
OF healiLfIl activity. New York
capitalists evidently do not take that
view of the matter, but strongly
incline to tho opinion that the
money market will DO In nn un.
settled condition for some months 10
come.
This view Of the case IL emphasized
by the action Of the New York Life
lnsurance company today. The Life
carries In IL vaults probably us much
money as any six New York banks
combined. II has plenty Of the ready
cash Tor great financial enterprises.
hut the management is ludiclous aud
only ventures when u has determined
that the ground Is safe. The Life now
holde 100000 OF tho las, issuc Of echool
bonds made by the board o, education
OF this city.
When the issue OF 1925, 900 addition
al school bonds was proposed, the
Representatives Of tho New York Life
n
Co., telegraphed 10 headquarters
snu inquired whether u bid
Tor the bonds or any part thereof
should be mhdo IN behalf OF the com.
pnny. The Information was commu.
picated that IL would be probably three
months beioie the bonde could be
Issued. The reply from the manage.
mcnt OF the Life wan that no bid was
TO be made. The reason for this aiti.
tudc was stated 70 be that In the PREF
ent uncertain state Of tho money mar.
Let II was considered advisable 10 keep
the money at home and not branch out
TO the extent OF taking bonds In Utah.
THIS position indicates the tightness
OF tho financial situation east, and also
the fear that IL Will not greatly i'm.
prove for some time 70 come.
TOWN PLATING INCORPORATION.
A big townsite company has been
organized in Wyoming, to operate In
the western part Of that state, and I'm
Ricb, Cache anu Weber counties,
Utah. The capital stock Of the new
incorporation, which IL 10 be known IA
tho Valley Townsito company, 10 81.
O0O,OOO, divided into 800 sharvs. The
directorate for the first year 10 com.
posed OF J. j. Gilman, A. l.. Funk,
Is. w. Roweli, q. A. sherman and
lsaao Van Horn. The chief office o!
the company IL located at Alcoya
Springs, email town near Casper,
wyoming, on an extensive tIact
owned By the company, which Is also
engaged In acquiring iills TO laud in
Cache, Bear Lake aud other valleys In
Utah Ms well as various places Ia wesl.
ern Wyoming.
REAL ESTATE EXCHANGE.
At the daily meeliRg today there
was good attendance of exchange
members. Considerable property was
offered on call, anu number OF wants
announced.
Mr.. j. II. Tails addressed the OK.
change on the Instability OF inviting
the order OF Railway conductors, now
IN session AT Toledo, Ohio, to hold
their next annual convention ut Salt
Lake. On tue suggestion Of members
present, the president, J. q. Conklip.
drafted the following message, which
wns forwarded by the secretary TO 10,
y. Clark, grand chief conductor, ut
Toledo:
"rhe Real Estate exchange, in reg.
ular session, sends greeting, and gives
to your order hearty Invitation 10 hold
your next convention ut Salt Lake
City.
Signed,
J. q. CoNKLIN, President.O
DIR. ]. 8. Wing was given the cour.
tesy Of the exchange, and addressed
tho meeting briefly on hisi onyx aud
marble quarries at Sprlngvills. He
submitted a proposition to sci forsl5, 1850.
1000 shares out Of 100, 900 In the stock
OF q company for working capital.
Prof. Hirsching also addressed the ex.
and submitted for considera.
ton an article which he had prepared
entitled "Salt Lake City rs q SanItar-
ium, and Its natural Tesources.0 The
article was prepared at this suggestion
OF the Worlds Fair committee, but the
finances OF the latter could not reach
Its publication Mt the WORLDS Fair. Mr.,
HirschinR's proposition wss referred to
a committee with power to act, and
the meetingladjournud.g2 Wi
The regular weekly meeting OF the
exchange convenes this afternoon at
4 O'Clock.
THE WYOMING AND UTAH.
The Casper Derrick, In referring 10
the construction of the Wyoming and
Utah railroad, snys the facts are that
there are two outfits OF surveyors west
OF there, running preliminary line,
No cross seotioniDg IL being done as
yet. No grading contracts are let, and
not a single railroad tie or railroad iron
has been unloaded at Casper this win.
tor or spring. 1t might be added that
no material Ia being collected aud
stored at Chadron or any other point
with the probable view OF using 1t for
west OF thore.
THE RAINMAEER.
Rainmnkor Frank Melbourne has
got Town 10 cold business agreement
with Wyoming parties, to produce u
downpour Mt the rate OF 81 900 an inch.
those who enter into The
bargain with him Ia Senator
Warren, who puts up $1,000. Mel
agreement 10 that he starts BY
May Goth to make Preparations for his
aquatic feat. He Ia to bring down
seven inches OF rain by August Let,
and do II In manner suitable to tho