The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-01-31

vitations to the public to attend the
opening, and long before the appointed
time a steady stream of interested hu-
mainly began pouring into the hand
somely decorated and well appointed
hall which will hereafter be the home Of
the new exchange.
At 2:30 p. m. the room was crowded 10
its holding capacity, the ladies being
given seats inside the railing or in the
pit, which spot, it is believed, will soon
be the scene of active stock transac-
tions.
The assembIage was called to order
by President w. =. Noble, the exercises
beginning with a choice selection by the
band, after which Judge Z. /. Colborn
was introduced.
In his opening address Judge Colborn
stated that by right Judge c. {. Good
win should have made the opening ad-
dress, inasmuch as he was a gentleman
who had always taken an active part
in the mining affairs of the gloriousBtate
of Utah, and as he had done much to
promote and foster the mining indus
try of this intermountain region
Judge Colborn also spoke in a COM
plimentary manner of the public spirit
evinced by the gentlemen promoting
the new exchange, ana he went On to
say that he had been present at the in
auguration of three Sucn institutions
one in New York, and the other two in
Utah.
.'At the opening OF the New York eX-
change" the judge went on to say, I
made allusion 10 the wealth and merit
Of the mines of Utah-mines which had
already produced over thirty millions
in the precious metals, and / expressed
surprise tl-at the world knew 50 little
of the great mineral wealth and posi-
bilities Of our beloved state This Vas
several years ago, AID believe that
am safe IN making the assertion that
the people Of the eastern states and IN
foreign countries are now better in
formed as to the possibilities and lhe
chances for profitable investments in
Utah mines than they have ever been
before"
The judge then went on TO say that
a new exchange which should FURNISH
an avenue for the steadily expanding
and growing business in stock transac-
lions had lOnC been needed in salt
Lake. and that the hardness OF the
movement reminded him of the story Of
the man with the bucksllin suit
This man." 50 the story runs, con-
tinued the judge, unfortunately was
caught out in a heavy rainstorm, ana
his clothes got wet, and so did he.
Wearing his clothes until they dried,
they became very much bowed at the
knees. giving the Wearer d very pecul-
lar appearance- Being in town one day,
and standing on the street corner, he
was approached by & stranger, who
said: Wei. why don't you jump? You
have been standing there for long
time looking as if you We're going To-
The new exchange has been standing
in a jumping attitude for several
months. and has never jumped and
never thought OF jumping until stinlu-
lated TO do so by the success which
has crowned the efforts of the old ex-
change which is the only well organ
ICED exchange ever established - this
CITY. The old exchange has made such
rapid and substantial growth Jiat il :
now unable TO take care OF ali Of the
business its care has fOstered, 50 That
new board became q necessity, IN order
that the greatest mining share market
in the United States may receive the
attention il so justly deserves.
The Judge then referred to the many
nslatial business blocks and residences
Thich grace the streets and avenues OF
salt Lake, all, or nearly all Of which, he
stated. stand as monuments TO the
Greatness of the mining industry Of
Utah.
After another inspiring piece by the
hand. Judge c. c. Goodwin was intro
6uced by the chairman as a gentleman
who had done much for the mining in
dustry % the west.
rrhe Judge said: 4 have been asked
"a come here TO advise the people now
10 make money in mining stocks. and
NV advice is 10 buy when stocks are
low and 70 sell when they are high.
There is but one legitimate industry in
Utah and that is mining. All others
Iaau on and are dependent upon It. x
e money which keeps the world in mo-
zion. and this is based upon metallic
wealth. An abundance of money mean=
prosperity and ciyilization-the lack eS