The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1909-05-05
SAM NEWHOUSE
RETURNS HOME
Tells of Eastern Interest in Salt
Lake and Things That
Are Brewing.

After a lively whirI of a couple Of
weeks in the ranks of powerful moneyed
interests of this country in New York,
where he accomplished more in behalf
of his mining. business. real estate. build
ing and commercial interests, and where
he did more to advertise and advance the
material interests of Salt Lake and Utah
than he ever dreamed would be possible
TO 90 in so short a time Samuel New
house reached home again Monday night.
1T was exceedingly gratifying to me, -
said Mr.. NewhOuse yesterday. ito learn
upon my arrival in New York that ali
Of the representatives of the big moneyed
and investment interests of the metrOpo-
lis who have been sizing up Salt Lake
during the past few months had been
rendering the most flattering reports. 1t
was more than encouraging to me to
learn that everything I have been doing
in the matter Of erecting buildings and
planning for the future had been fully en-
dorsed and commended, and I can say
to you now that there viii be no halt in
the building of the magnificent hotel for
which the excavations are now being
made on the corner across the street
from here. In fact, I am afraid that we
shall soon realize that the days are too
short to keep the work moving at the
pace desired, so you need not look sur
pTised if, one of these nights, you see
that corner highly Illuminated by power
ful electric lights and the night turned
into day, so that every minute of time
may be utilized in advancing the struc-
lures completion"
Has Other Plans.
Busy as he was. Mr. Newhouse found
time to say that he had other big projects
planned that would mean as much or
more TO the city than anything done to
date, or under way. and he made the
positive statement that all the money
to see them through in record-breaking
time would be forthcoming as needed.
Eastern people. he declared. were fully
awake to the splendid opportunities this
city and state afford for safe and remu-
nerative investment and he had been COM
missioned to go right ahead and keep the
ball rolling; and that is Just what he is
going 20 do, depend upon it.
Questioned concerning his plans for the
reorganization of the NewhOuse Mines &
SHELTERS corporation, Mr.. Newhouse stat
ed he was not quite ready to enter into
detail He felt annoyed and distress ID TO
think that he had not been able to pre-
venr the heavvt decline in NewbOuse
shares. but he declared that the stock
would be made valuable again and he
hoped to see every loser yet make good
on his investment
While operations at the Cactus pop
ETY. are not being carried on extensively
at the present time" said Mr.. NeWnouse
and while our expenditures at the prop
erty are only about 5000 a month re-
ports that come TO me are Of a most
being added to all the time and rs show
ing something of the value of these de-
posts. 7 may say that the daily sam
ping for the month of April shows that
the average contents of the ore
developed durinE that time mas been 81
per cent copper. in addition 10 the Tegu-
latiOn silver and gold values in the ore.
] shall be able to tell YOU mcra about
the plans Of reorganization in the ear
future
While it does not come direct from Ar
NewhOuse. enough information has
leaked out concerning this reorganization
proposition to justify the statement that
when the plans are matured and made
public. il will be found that fun pro-
vision has been made for the retirement
Of the bonds now held against the cOrDO-
ration. while the entire undertaking will
be placed on a firm and lasting financial
footing.
II Air Newhouse felt any resentment
over the big rival hotel project that was
matured bv uptown interests during his
absence. he failed to show il. He de-
clared that there was no room in a grow
ing. thriving city like this for sectional
feeling He glOried in the enterprising
spirit that was manifested in the scheme
TO build another magnificent hotel here
and expressed the opinion that it would
not be long till there would be room for
others. He declared he would take stock
I'm the uptown hotel himself if the pro-
jectors were willing that he should That :
the way he feels about it.