The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-04
BANKER RETURNS
F. S. Pheby Declares Mining Invest
ments Have Call In
East.

+. s. Pheby and Joseph Pheby. the
we'll known Ely bankers and mining
operators, were IN. the city yesterday
after rather extended visit in New
York and other big mining and fnan-
cial centers of the country. The latter
continued on TO camp and the former
remained over i'm Salt Lake for a day
or two to look after business interests
here. The Phebys have been away on
business largely connected with the
Central Ely and Turner Ely Copper
companies. i'm which they are largely
Interested. and which are under the
mana cement Of f. :. Pheby. When seen
yesterday afternoon Mr. Pheby said:
Il would rather not talk about the
affairs OF our own companies. other
than to say that we perfectly appre-
ciate their value and are doing all that
is possible 10 place them in the ranks
Of the big producers and money-making
mines of our camp This / am sure we
shall Go. and the best talent the camp
has ever had within its borders think
as 1 40 Work is progressing steadily
and tn campaign will be enlarged upon
just as soon as weather and other con-
ditions are favorable to it.
Investors Coming West.
"As/ 10 conditions in New York and
they could be better The camp OF Ely
is as well known in New York as il is
here in Salt Lake and. judging from
the number Of people ! met who signi-
fed their intention of visiting the camp
during the next month or two. l sus-
pect that. before the year is very old,
New York viii be as we'll posted on the
district as we Of Ely consider we are.
This kind of interest in the camp is go
Of
experience men of means and men OF
Judgment take the trouble to come out
and make Investigations upon their
own account the world will not be long
i'm learning Just why so much is being
said and written about the country.
They will return home satisfied and we
shall prosper in proportion to the good
reports they will be able TO make.
There is simply no limit TO the
amount of money eastern people have
available for investment in legitimate
mining enterprises. They are not seek
ing the stocks that sell for cents a
share. and they do not care how many
dollars a share q stock brings SO long as
they know that Il represents a legiti-
mate value. intrinsic and prospective.
Calamity Howl is Impotent.
There is more or less of a hubbub
termed wild speculation in mining and,
while no one familiar with the mining
business pretends 10 say that there is
no 'wild-catting,' mining men and min
ing operators have no difficulty in
showing up the absurdity of some of
the statements made by papers and in
dividuals who would divert the money
now going into mining securities to the
old channels of industrials, railroads,
steamships. land schemes, etc.
"The investing public, and this is
meant 10 include the men who play
with millions as ordinary people play
with dollars have educated themselves
up to point where they are not to be
/ fooled by any false calamity cries.
They know that it is impossible to
produce any of the metals as rapidly as
the progress of the world is calling for
them. and they know that so long as
/ such a condition prevails there is going
to be all kinds of opportunities to make
| money, money that is dug from the
earth and consequently clean and un-
\ tainted.
THE year just opened, I believe, will
] be the most prosperous the world ever
saw, and the industry of mining is go
| ing TO reap it's just proportion of that
prosperity. In sharing the good things
the man from the east and the man
from the west will go hand in hand"