The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-12-29
IITAH's SOUND CONDITION.

Railroad construction and the ex-
pansiOn of the mining industry in the
state account for the extraordinary
showing Salt Lake and the state make
in commercial and financial develop
ment during 1907.
The extension of the Las Vegas &
Tonopah road into Goldfeld and the
completion Of the branch line of the
san Pedro into Phoebe have resulted in
opening up new territory for the city
which has increased its tobbing and
distributing business fully 10 per cent.
The construction of the milling and
smelling plants at Garfield. the new
era of mine development on an enor-
nous scale in Bingham. the extraor-
binary deposits Of mineral wealth I'M
covered in a number of big properties,
all marked the year as the most pro-
ductive and profitable in the history Of
the state.
During 1907 mine dividends paid by
listed properties. and not including
number OF known dividend payers
or a little over S2.SOO, 900 more than the
same properties paid in 1906 In 1907
the production of metal increased to
$50, 100000. a gain in value over 1906 of
$40. coo. 900. These figures are based on
an average price for copper of 20 cents.
as against 10 for 1906. and the prices on
other metals are so nearly identical
that the great gain in value of pro-
duct is clearly due TO an increase in
tonnage and not to an increase in
prices.
Copper production increased over
100000 pounds; lead gained $1,000, 600
pounds. gold increased 10000 ounces.
and silver about 100000 ounces. Just
how this compares with the increase
and decrease of metal production in
other states cannot be known until the
figures are more complete, but it is GER
tain Utah has never made anything
like the strides in her chief industry
that she has made this year.
X X
While the close of the year is de-
pressed and the outlook unattraetive
because of the general closing due TO
low metal prices, it is some satisfac-
ton to know that the big producers in
Utah are in just a little better position
to do business when. prices are low
than the mines of any other state, and
they are prepared to begin operations
anew on big scale wien anybody can
afford TO do it. Moreover, it is matter
for congratulation that in the methods
adopted. the new capital invested and
territory opened up. the future is full
of hope for those who can see beyond
the present conditions. The best au-
thorities in the country agree that the
suspension of metal production or a
reduction TO nominal tonnage is the
surest and quickest cure for the low
prices and unsa tisfactory conditions of
trade that brought on the collapse
Most of them are OF the opinion that
six months at the most should see min
ing back TO normal conditions, though
with none of the extravagant prices for
metal that preceded the October tum-
BILE. When the surplus of metals is out
Of the way and a reasonable manufac-
turing demand returns il is unlikely |
there will be any high quotations, but |
profitable prices and stable conditions
may be expected. followed by the re-
sumption of production on a large |
scale.
The modern equipment of Utah's big |
the organization in the
mines which has enabled them to make /
records for low production, and the /
strong backing in capital which all of
them have. insures for this state po-