Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-10-01
Believes Big Operators Are Work
ing to DisCredit the Roose-
Welt Administration.
REASONS FOR COMING SLUMP
Sequel to the Imposing Of the
S29,OO0.Ooo Fine by
Judge Lands.
Advises People, However. 10 Hold on
To Their stocks and All win
Come Out Right


propose 90 keep right ON with
the building proicct, 7 have planned
/ Tor salt Lake.
Copper may go lower. hut 7 be-
/ licvc 10 is dragging close 90 bottom
aud must improve.
Iisht money conditions MAY pre-
I ,1u for siN months longer. aud may
be until thc meeting Of the next Re
I publican convention.
larger corporation, appear 10 be
making concerted effort 10 make
the closing year OF President Roosc-
,clr> administration a. ndious a. po.-
-iblc.
have mo- intention az present. OF
/ ourtaiiine the output Of the mines
with which I am connected. We can
make copper cheaper than I'm most
other places The Boston ConsoH-
dated min win go into commission
about NOV. L.
Although he has lost millions Of
dollars during the past few months
through THE depreciation In mining
and industrial stocks, samuel New
house returned 20 salt Lake last nicht
wearing ono of his characferistic
smiles While admitting that De has
hard hght ahead OF him TO carry
out his big building projects ln this
city. he Is one of that kind which
knows no such word as defeat he
declared that he heard some OF the
rumors circulated 90 the effect that
the tightening Of the money market
might mean cessation OF building
operations on his Main street build
iues but he answered this by saying
that he proposed 90 keep right on
with the construction of chem as
long as uo could pay the bills and DO
was very apparent by his manner that
such matters as these are NOT giving
/ him any serious worry az the present
time.
AIr NeWhousc says the money market
/ has been largely responsible Tor the
/ decline In copper and while he IS not
4 prepared TO say that the metal viii not
| 20 lower Yet be- IS firmly Of the opinion
/ that 10 is dragging pretty close TO bot
| tom and that IN people who hold stocks
[ can hold ON 90 them they win come out
al, Iisht when the situation clears up
he IS OPTIMISTIC.
As TO himself, Ala. Newhouse declared
l that he holds more stocks now than he
| did before the slump came Il could
have cleaned up an Independent for
tune said be, III ] had sold them at
[ high price,
Although Dc looks at the future with
O. good deal Of optimism, the mining
maEnate does not anticipate an im-
mediate clearing Of tho financial skies
up 90 the present time declared
Nr NeWhouso. copper mining enter
prises have been the worst sufferers.
but during the next six months other
Industrial enterprises are going 20 feel
the effects Of the scarcity of money.
hich seems TO have been created as
suddenly as 10 Is hUtous
u have been Of the belief that since
The imposing of the $4,000 900 fine by
Judge lands On CHICAGO ON the stand
ara on company which followed iu
the wake OF other large fines and at
tacks on The great railroad Institutions
or the country that the conditions
Whlch we now have iu evidence would
occur
There is nothing radically, ,,rong
with our country nor can there be-. az
long as We have such bouuteous crops
ana are producers OF so much ~ the
worlds metal wealth. But I believe
there is an organized EFFORT ON the part
Of the individuals and corporations
who have been attacked through tho
imposition of laI0c fines and otherwise
TO make the last year of the administri-
ton OF President Roosevelt as odlous
as possible, by creating present condI.
TONS This win continue In my judg-
ment for another six months. ana,
perhaps up To- the time The next Re-
publican presidential nomination ~
made. II. instead of Mr. Roosevelt
or any 0t his choice such men as Gov
ernOr Hughes OF New York. ur Senator
Knox OF Penn sylyauIl. are tho uom.-
nee9 ~ the Republicans, the atmosphere