The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1908-11-15
BUSINESS AND TRADE.

The most important news Of the
week from q business standpoint is
that received Friday and yesterday Of
| the determination of the Utah Consoll-
dated Mining company to construct its
new smelter. The option 1T had on the
necessary land and springs has been
| exercised, and Messrs. Cole and Ryan,
of Butte, are reported as authorized
TO 90 on with the work. This IS by
long odds tho sensational mining and
business news Of the time. Our dis
patch from Boston which told Of the
final decision of the company to go on
with this work, says: 1.-THE new smell"
fer will cost several million dollars,
and will be one of the largest and
best equipped in the West; it will han
die not only the ores of the Utah Con-
solidated Mining company, but that OF
other mining companies as well, and
will be q strong competitor OF the Gug"
genheims." That is, IL will be to all
practical effect an independent smelter.
The mining men of the city were jubi-
| liant Yesterday over the news, many OF
them characteriZing it as the most I'M
portant step in the aid Of tho mining
! interest for many years, and there can
be no doubt whatever Of its command
ing Importance.
Another great event of the week, OF
! Importance and interest in all business
circles, was the inauguration of train
service on the Western Pacific, which
began on Monday lust. This service
opens to Salt Lake City direct trade
route to all northeastern Nevada, and
will be OF especial benefit in aiding
transportation and furthering business
between this city and the great mining
camps at Ely, Cherry Creek, and the
! Deep Creek region intermediate be-
! tween this city and the camps named.
The building operations in this city
continue in the extraordinary activity
that has characterized them throughout
the season. The large business blocks
are all getting on well and are busy
scenes of industry, those nearing com"
pletiou as well as those for which the
| foundation is now being put in, and
! those in all intermediate states of for
wardness between. The extensive
building of dwelling places during the
year, the immediate occupancy of those
places, together with the fact that all
of the old habitations are still in use,
afford complete proof Of the rapid
growth of this city in population
Nothing like it has ever been seen be-
fore in the history OF Salt Lake City,
and that this growth is directly due to
the American victories and American
control there can be no doubt whatever.
The real estate market continues &C.
tive, with property firmly held, though
at fair prices. No city in the country
offers as good inducements for invest,
ment in realty as does Salt Lake City.
Prices here are moderate compared with
what they are elsewhere, and instances
of large pro6t-making by investments
in Salt Lake realty are so many that
every one is encouraged to invest. Not
only is this encouragement for speedy
profit, but for permanent investment.
with the surety OF good returns better
here than anywhere else in the United
States.
The mining interests of the State are
tremendously encouraged, as indicated
in the first paragraph of this writing,
by the news therein detailed. The
mines of the State are in excellent
form, producing largely, with ore re-
serves TO the admiration Of all. Utah s
mines do not become exhausted, because
the managers keep heavy ore reserves
blocked out all the time, and there is
in the great producers q reasonable
certainty of discovery of new ore bodies
sufficient to replace the ore that was
taken out. The product of the State
this year will not vary much from
$50000.000 in metals.
1t has been an excellent agricultural |
year, with good crops of all kinds, the |
best live stock range known for years,
prices of farm and live stock products
well maintained, and the farmers hav.
ing assured profits far above the av-
erage.