The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-05-05
BIG UNDERTAKINGS
IN UTAH MINES
J. A. Pollock Says Fasteners
Are All Looking This Way.
SHELTERS ARE RIVALS
BINGHAM COMPANY WILL MAKE
ITSELF FELT.

After q several weeks vhirl in the
eastern financial world. most Of the time
fin New York and Boston, James A
Pollock. the wen known mining oper-
ator and broker, returned TO his Of
6ces fri this city yesterday. OF the
business which called him east at an
hours notice. Mr.. Pollock declined TO
say a word for publication. though ne
intimated that something might devel-
Oh later that would leave him free to-
talk
No section of the country, MI 4'ol-
lock say. Is receiving the same atleh-
ffou fin rnflng circles as is the rlchly-
endowed state Of Utah. and he is firmly
convinced that Bingham. Unite, PARK
CITY and some of the other camps VIII
receive more attention during the next
few months IAN at any previous time
81 their history The rivalry which has
sprung up between the American
Smelling company and the Bingham
Consolidated, he says, VIII become more
far-reaching In its effects than now
appears on the surface. and that Iae
latter IS going TO make ITSELF felt IN the
business of mining and reduction OF
ores in this state he has no doubt
Mr. Pollock saw and heard enough
7urlng his absence TO convince MIN
Tat mining would be greatly StimuIat-
ed rather than retarded by the foIma-
ton of the great. combines. and as an
Illustration Of what might b. expected
he cited the operations OF the steel
trust Not q shareholder "a All the nu-
merous concerns absorbed by that or
EauiZatiou. he said. but acknowledged
that its formation had done more TO
regulate and place on hrrl basis
every branch of Industry that n repre-
scnted than anything that has oc-
rl1rred i'm thirty years. Where half OF
then were formerly leading a preca-
rious existence. AN are now reaping a
harvest. and the little fellows are par
ticipatinE in the profits on an equal
footi1g with the concerns that were
grinding them down before
or what is termed the great and
dangerous imitation of values. Mr.. Pol
lock spoke i'm most optimistic terms
~ great change is occurring IN the
lnet1od Of fnanciering in this cOun-
try the gentleman Saids and while
the uuiuittated are viewing with alarm
the result of the apparent enhancement
of the value Of an securities, by those
ON the inside no uneasiness is shown
JIG is only a Few years since the in
weston in this country was not salts
fed with less than 6 per cent per an
mum. but change has occurred
through the imu1ense sums that ave
come from other countries, where TO
SO per cent was considered a good
earning. The result has been that
where a certain stock earning 6 per
cent has been taken up. the price has
advanced. say from 500 10 $40. and
the Investor has been satisfied with )
per cent Another man comes along
and raises The price to Sl5o and Is salts
ried to make q or ~ per cent SO. while
the thing looks on the surface as
though the security IN question is being
inflated I'm value beyond ali reason, I'd
is not true in the abs tract Il is sim
ply a ease of the men with money being
willing To accept q smaller Interest
taan was the case a few years ago"
This Mr. Pollock declares. Is the S.
cret Of the boom i'm railroad. mining
ana industrial stocks, and he looks for
no bad consequences. That exceptions
VIII be noted he has no doubt but or
the whole he looks for a long period 81
activity and good earnings an along
the line and Utah he is sure. win rear
her proportion.