Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-12-29

mN|iaIcu lnen closed are It's debtors,
The consumers OF coal whom Il saved
from unfair charges owe It a debt OF
gratitude. The jobbers, merchants and
consumers are all under obligations to
It FOR the great victory Il won by the
continuous aud persistent fight Il wag-
ed for the revision of local freight
schedules The whole world owes II
thanks for the wonders OF native see
merry 1t revealed by It's famous explpra-
ton OF the San Juan country.
ARE GENEROUS HOSTS.
To its efforts are due the warm feel
ing OF friendship, existing between this
city and Los Angeles. The remarkable
Interstate celebration occurring In the
spring of this year marked a new rec
ord In wholesale entertaining and won
for our people Il reputation for gener-
Gus hospitality that is without equal
anywhere.
The Inauguration of the Seeing
America" movement has placed II high
UP among the great commercial organ
igatlons of the United States, and made
IL famous wherever the English lam
guage Is spoken 1t has become in four
snort years the intellectual and indus
trial clearing house of the intermoun-
tain states, and yet It lives In rented
quarters. In hundred different ways
1t mas made money and fame for Utah,
and yet 1t pays annual tribute to a
landlord. II has entertained almost
every distinguished man who has dur
ing It's lifetime visited Utah, and yet
IL mas no home TO call It's own. Other
clubs In our city with only social in
lerests al heart, with smaller and
less wealthy membership are comfor-
tably housed in beautiful structures Of
their own.
NEW HOME NEXT YEAR.
This club has been alert, vigilant and
patriotic In Its service to the people.
but in Its activity for the general good
IL mas neglected its own comfort, II
deserves and should have an elegant
home in keeping with Its public accom-
plishments. 1t must have, and that
soon, a building which win be a cred
II TO the city and one to which its
members can point with pride. Let US
determine that when the fifth annual
banquet Is given II shall be under our
own roof And that that roof shall COW
er structure located in the heart OF
the business district Of the city that
will cost not less than three auarters
OF a million dollars. and that there
shall be emblazoned upon its topmost
part in gilded letters large enough to
be seen throughout the Valley-and
that viii emphasize to every visitor
that this Is the home OF that great
western moyement--"see Europe II you
WILL but see America FIRST"
BUSINESS SITUATION.
Charles n, Strevell was called upon
TO talk on the business situation in
salt Lake, and was introduced as "a
conservative yet enterprisng business
man. thoroughly Identified with the
business interests OF the state" He
said
In November. 1903, Samuel Benner,
the Ohio farmer who has been predict
ing the future, based on pig IRON corn
and hogs, said: II predict that prices
for pig Iron railroad stocks and many
commodities will be lower In 1904 than
In 1903. ] predict that after the year
1904 there VIII be a revival OF trade,
better times and that higher prices will
prevail until the year 1911. The pres
ent down cycle In prices and I'm gem
eral business ends IN 1904 After the
year 1904 we enter upon a new up cy-
Gle for better times and for long con-
tinued prosperity in general business.
lasting until the next commercial re-
vuision, which will be due In 1911 The
coming opportunity to catch business
and prices at their lowest limits of de-
preston VIII not happen again for 20
years. 1t Is estimated by financial
experts that the shrinkage in values
In railroad, mining and various indus
trial securities during the last two years
amount to $4,000, 100000 1t il possible
that the loss of this vast sum OF money
can be recovered and q 81 900, 600 600
more of inflated values added to these
securities during the coming six years
OF prosperity"
PREDICTION ON PRICES.
In December, 1904, Mr.. Benner said:
II predict that prices for pig iron will
advance and be higher In 1905 than
IN 1904. | predict that prices for rail-
road stocks and Industrial securities
will be higher In 1905 than In 1904. |
predict that there will be revival in
business and that the volume Of trade
in 1905 VIII exceed that OF 1904 many
millions OF dollars. | predict that
there Will be moderate good times for
the next four years. Looking back
ward from the standpoint OF the month
Of May, 1908. when general business
will be plunging ahead with leaps and
bounds, when prices for iron, railroad
stocks, industrial securities and va
,rious products and commodities will be
many times higher than they were in
the spring OF 1904, we can then see the
valley OF depression and contraction
In business during the first half of that
year, when the New York stock ex-
change was a lonesome place U. $.
Steel shares SIS for common, 5l4 pre-
ferred; when general business was at
low ebb, railroads curtailing expenses,
and when pig iron warrants We're 81
ton. This backward view of the
commencement OF the upturn IN the |
markets Is TO record the preliminary |
stages of the coming good times. Pig |
iron Is the barometer of trade When |
the iron trade IL prosperous il signl- |
fies prosperity for railroads. for manu- |
factories, for merchants, for farmers |
ana for general business In every de- |
partment OF trade. The trend OF gem |
erdl trade IN this country follows the |
pig iron cycle as persistently as does |
the magnetic needle point to the poles |
of the earth
PROPHET WAS CORRECT.
Having Mr.. Benners predictions be-
fore US, II Is pertinent for us to inquire |
whether We may place confidence In |
him as prophet. In 1875 Mr.. Benner |
published his first prophecy, giving |
facts and figures from 1887 10 1876. |
Reading in December, 1905, his predc- |
tions for this year, made In 1904 one |
year ahead. we cannot but admit their |
correctness. Pig IRON which was then |
$3.50 is now SIG per ton. The record |
OF the New York clearing house shows |
that for the year ending September. |
1905. the transactions aggregated APP |
sos, 900, O00, 600 The great
est record prior to this was In 1901, |
when the transactions aggregated s77.- |
600 100000 U. $. Steel common IS now |
39%. preferred 5lA, and this condition
affects nearly all stocks, including our
own mining stocks, a condition well |
known TO you all.