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,OOO.OO0 Fine by
Judge Lands.
Advises People. However. 10 Hold on
To Their stocks aud All WIN
Come ont Right

Come out Right
propose Co. keep right ON ws'h
tine building projects 7 have planned
for salt Lake.
Copper may go lower. hut 7 be-
hc,c &c IS dragging close 90 bottom
and must improve.
Tight money conditions may pre-
,au for six month, longer. aud may
be- until the meeting of the next Re
publican convention.
larger corporations appear to be
making concerted effort to make
the closing year Of President Roosc-
'clts administration a- udiou, as pos
-iblc.
have mo- intention at present. Of
ctutailine the output OF the mines
with which ann connected We can
make copper cheaper than m most
other places The Boston ConsoH-
dated min viii go into commission
about NOV. 1.
Although ho has lost millions of
dollars during the past few months
through the depreciation Ia mining
and industrial stocks. samuel New
house returned Co salt Lake last NIGHT
wearing ono of his characteristic
smiles. While admitting that he has
o hard fight ahead of him 20 carry
out his bic building projects in this
city he IS one II that kind which
knows no such word as defeat he
declared that he heard some Of the
rumors circulated 20 the effect that
the tightening OF the money market
might moan cessation OF building
operations on his Main street build
iugs. but he answered this by saying
that he proposed 10 keep right on
with the construction OF Them as
long as nc could pay the bills. and ID
was very apparent by his manner chat
such matters as these are NOT giving
him any serious worry at the present
time.
MI Newhouse says the money market
has been largely responsible Tor the
decline In copper and while h. is not
prepared TO say that the metal win not
go lower. yet be is firmly OF the opinion
that 10 is draeging pretty close TO bot
tom and that 10 people who hold stocks
can hold ON 90 them they viii come out
all right when the situation clears up
lllnv iaesv an
tE Is OPTIMISTIC.
As 10 himself, Alr Newhouse declared
that he holds more stocks now than he
did before the slump came. Il could
have cleaned up an independent for
tune said he, II / had sold them az
high prices
Although he looks az the future with
good deal OF optimism. the mining
magnate does not anticipate an im-
mediate clearing Of the financial skies.
up 20 the present time" declared
Mr. Newhouse. 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.
which seems 20 have been created as
suddenly as IL is httious
u have been OF the belief that since
the imposing OF the $4,000. 600 fine bv
Judge lands I'm CHICAGO on the stand
ara Oh company which followed in
inc 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 IL nothing radically wrong
with our country. nor can there be-. a.
long as We have such bouutcous crops
ana are producers of So much ~ the
worlds metal wealth But I believe
there Is an organized effort ON tho part
or the Individuals and corporations
who have been attacked through tho
imposition Of lal9e fines and otherwise
70 make toe last year OF the admiuistru-
ton OF President Roosevelt as odious
is possible, by creating present condo
TONS. This win continue. I'm my judg-
ment FOR another six months. and.
perhaps W 10 the time The next Re-
publican presidential nomination *
made. n. instead Of Mr.. Roosevelt
IL H| D. d. ID.
,rnor Hughes Of New York. or Senator
Knox Of PENN ylvanla- are tho nomi-
nees Of the Republicans. the atmOsphcrr
would clear at once. and return az
normal conditions would De tho result"
FINE ILL ADVISED.
"You ask me- continued oIr. Sew
house FOR my opinion of the Justice
OF the a-3.000.09J tne imposed on tho
standard on syndicate. and m rerIy L
viii state that 4 believe % 90 have boon
very ill advised Iu on interview 4 gave
.o tho New York HcmlQ-whlle abroad.
.ud which subsequently furnished "a
subject for an editorial in thrr Sow
York edition. expressed tHe opinion
,aat tha large fines imposed ou corpora
tons would au heaviest upon iuuH-
cent stockholdcrs through mo deurecia-
lion of their stocks auG wa ave sCau
lhls como true.
'I contend chat amy malt.IHu.e ou
no part Of a corporation should Dbl. .f-
Iackol but Ono punishment should be
injected out ro tho individuals ra Dorsi-
Ul. f1r IL Tho millions off sharh1iirrs
bon me various corporations should n't
b.. tha euncrrF.'
so CURTAILIENT
Mr NeRbous. ds.arI ua. b.. bad
II intention n. rur.aNIuH I.u UH.UU.