The Intermountain Catholic. (Salt Lake City [Utah] ;) 1899-1920, 1907-01-05
BUSINESS REVIEW.

1906 in the same vein. From every source in
every industry, from the miners, farmers, manu-
tacturers railroad men, bankers comes the same
report-material prosperity greater than ever be-
fore. 1t is solid substantial prosperity, based OH
real wealth production. and not the Wall street
brand of a few years ago. Wall street mans
Idea of prosperity is when the public buys freely,
and without question watered stocks, whose value is
altogether speculative That makes the Wall street
man prosperous. The public has become wise to
this to great extent and the result is that Wall
street conditions cut very little figure with he coun-
ry at large, In fact during the past year, Wall
street has not done very we'll Ats gold bricks have
notSbeap sabsorbedN by the public and the result
49, 5ak or two from the frenzied financiers to
the eject that a panic is imminent throughout the
country, They do not realize that the country has
gone ahead and left them with their tlimble rigs
and three-card games This very fact will do more
to avert panic than anything else. At a time
when interest rates have been up to 100 per cent
per annum on Wall street people in the west could
borrow all the money they wanted at 5 and per
cent
All through the west business has been esne-
cially prosperous. The wheat and corn states pro-
duced bumper crops. and the savings banks all
through those regions are full of money The inter
mountain region has prospered still more Neva
das mountains have loosened up their grip on gold
to an extent surprising that of the Comstocl days
and it looks if it would continue for many wears
tab has surpassed her record for last wear by one
third, and that the best year in her history
The record for this year is $40,00000O in precious
metals, with dividends of upwards of S5,0OO.O0O
Copper was the principal product amounting to
upwards of $12,000,000 silver coming next with
upwards of $10,0000O0 and gold close third with
nine and a half millions. Besides this, the state
produced upwards of two millions of coal six mil
lion dollars worth of lead, and other metals
The abundant rainfall of last winter made farm
ing and fruit raising very prosperous in Utah
New methods of dry farming have been adopted
by which many thousands of heretofore mproduc-
tive acres of ground have been made to yield
handsomely The beet sugar crop was the largest
in the history of the state, and in many cases
yielded snough to entirely pay for the farm on
which they were raised. The live stock men have
Jared unusually well, and the sheep men realized
five and half million dollars from their wool and
mutton.
Alongside of this development. and because of
it and increasing it, is the building of railroads
The Clark road is in full operation, bringing many
thousand travellers to Utah cities, and connecting
with the rich mining camps of southern Nevada.
A new branch is being constructed. running from
Caliente to Phoebe. which will enable many mines
to be worked there which before we're idle although
known to be rich The Western Pacific, running
from Salt Lake City to San Francisco is being con
IL
can build it. Only the scarcity of workmen is re-
tardng its construction. All through this region
worknen are better paid and are in greater demand
than at any time in the history of the country.
The Moffat road from Denver to Salt Lake City. is
steadily progressing, and when completed will
mean another developer of the exhaustess resources
of this wonderful region.
The smelling industry in the Salt Lake valley
is the largest in the world and is being increased
During the year town of 5000 people sprung into
existence on the shores of Great Salt lake, where
one smelling company has invested about five mil
lion dollars and distributes annually million
dollars in wages. Something of a setback was ex-
perenced by the shelters near Murray and Bing
ham Junction, owing to an injunction account
of smoke fumes Unless this is adjusted, the
siStN across the mountain range into ToOele county
but still in Utah and will be reconstructed on
larger scale than ever.
The result of all these immense enterprises has
been felt decidedly in the two principal centers of
population-Salt Lake City and Ogden. 1t IS
shown in the erection of hundreds of new modern
homes. business blocks, factories and public build
mrs Ground has been broken for the erection
Of the passenger station of the Oregon Short Line
and San Pedro roads. which will cost quarter of
a million. and already over hundred thousand
dollars has been expended in the purchase of
ground building of freight houses etc. Next sum
mer will see the commencement of work on the
passenger station of the Denver & Rio Grande
and the Western Pacific at Third South and Third
West streets which will equal or surpass the other
in e5tent and cost.
II he hanks and trust companies of Salt Lake