The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-08-06
The great wealth of Utah is in he

The great wealth of Utah is in her
mines.
Yes, Utah is one of the greatest min
ing states to be found in the Union; it
is without doubt without a rival as
producer of The precious metals; and
st;ll, although no special stir is made
over Utdh's great and unriyaled min
era1 resources. the fact still remains
that mining is the leading industry OF
our new commonwealth; and more,
that but for The mining resources of
the state, every industry here would
sink beneath the wave of financial de-
preston, and our fair city, with its
paIatial residences and stately bust
ness blocks, would soon lose its repu-
tation as being one o. the most sub
stantial and most thrifty commercial
centers in the west.
AS a matter Of fact, the people Of
Salt Lake do not lay enough stress up
on the fact that the city is environed
with an array of rich mining camps
that would be a credit to any country.
They are altogether too modest regard
ing the ma gnificent mineral regions by
which they are surrounded; or else
they are denseiy ignorant concerning
the source of the wealth of this city
and country; and in any event there
d, should be more enthusiasm and en-
tiighten1nent among them on this sub
ject, and when this is brought about
there viii be more activity than ever
in Utah's mining camps, and the
stream Of precious metals flowing from
every mountain side will then be so
visibly Increased as to be manifested
in every avenue of trade and COM
merce.
As it is. there is not one in a hum
dred among Salt Lakes citizen who
have the least idea of what Utah S
mines are doing for Utah; but if they
will watch the daily bank receipts Of
ore and bullion, as given in the news
papers, they then may be able to form
some conception of what the mines are
doing for this country; and stin fur
Their, if they will but keep tab on the
dividends declared by our mining COM
panies from month 20 month, the i'm
preston will grow with them that it
is a truism that the wealth of Utah
is in her mines"
1t is impossible, without exhaustive
research. TO give the earnings Of many
of the mines OF Utah. Many compan-
les are close corporations and refuse
to make public the output of their
mines, while there are hundreds of
small properties, whose owners divide
q their prOftS from time 10 time, from
q whom statements cannot possibly be
obtained. Mining companies who have
paid millions in dividends have gone
out of existence. and of these no pub
lie record has been preserved, and it
is safe To say that If the truth was
known. the amount paid in dividends
by these would greatly exceed those
paid by properties whose output and
earnings are generally known to the
public
The working expenses in mining. as
a general thing. greatly exceed the
sum paid in dividends, and this vast
amount. for vast II is. goes to the
working man, the farmer, the mer-
chant and the manufacturers of ma
chinery, and Of these disbursements he
public at large knows but little. The
dividends, however, when given pub
licity, give some criterion to go by
and judging from these, and in MAX
ing comparisons with the expense bill
and the pay rolls some faint idea may
be obtained concerning benefits accru-
ling to a community that can boast Of
) one or more big mining camps in It's
Anear vicinity.
Following is an incomplete list of the
amount already paid in dividends by
the mines of Utah: