The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-05-04
HARTLEY'S REPLY
To J. A. POLLOCK
Treasurer and Promoter of the
New Exchange Gives Out
an Interview.
ARGUES FROM POINTS
IN POLLOCK ARTICLE
Believes There Is Room for One
Exchange, and That Is
New One.

G.. W, Hartley, treasurer and member
Of the board of governors of the new
or Utah Stock and Mining Exchange,
on Monday issued a statement in an
swer to one published Sunday morning
by James a. Pollock. president of the
old or Salt Lake Stock and Mining Ex.
change. Mr.. Hartley's statement is as
follows:
The Utah Stock and Mining Ex-
hangc feels that it need offer no c1-
cuse for its existence and intended ac-
tivities. The enthusiastic reception II
has received throughout the state in
dicates that the people realize there is
abundant reason and room for it.
There appeared on Sunday last, how
ever, an unprovoked aud poorly consid-
cred attack on the enterprise, by James
\. Pollock, president of the Salt Lake
Stock and Mining Exchange, in which,
it is reasonable TO presume, he cx-
hausted all argument why the present
exchange should be left in undisturhcd
possession Of the field,
II the new exchange, to use Mr.. Pol
lock s language, is the creation of 1.-TWO
or three disgruntlcd stock brokers and
a lot of narrow minded property hold
ers in the neighborhood of West See
ond South street the latter once fail
ing to respond to the invitation of the
old exchange for favors TO offset the
gift of Samuel Newhouse Of a lot on
Exchange Place. why is il that the en-"
tire state, regardless of past amliations,
has rallied so spontaneously about the
new exchange? The support accorded
the movement is so sincere that il sng.
gests one thing only, the public recog-
nizcs the new exchange is something
timely and sorcly needed, something
worthy Of complete financial and moral
support, -,
ers' as hackers of the enterprise. He
insinuatcs that the movement is real
estate proposition. Granting this for
the sake OF argument let rs ask what
other motive IS back of the Newhouse
project, Does the effort TO enhance the
value OF any one certain real estate
district by honorable means involve
more moral turpitudc than another!
Is il not the considerable criticism
of the methods of individual mem.
bers' using Mr.. Pollock s admission III
regard to the old exchange, the justice
of which considerable critism Is not
denied, but rather admitted by him,
which has created this statewide dis
SdIlSlHPllODs was IT upl luiS WI
siderable criticism which justified
marrow minded property holders in
the neigbborhood of West Second South
street. in their refusal 10 contribute
gifts equal TO the Newhouse donation?
The new exchange is organized along
business principles, it is backed by
some of the best known mining and
business men of Utah, and it intends
10 place in operation that character OF
business which will make impossible
the considerable criticism of individ
uaI members. Individual members
compose the Salt Lake Stock and Min
ing Exchange. The harm they have
done is as far reaching and as worthy
of condemnation as If the exchange
had expressly. as well as mpliedly, as
is the case, sanctioned and Allotted the
same What is considerable criti
cism of individual members if IL is
not considerable criticism of the
exchange ms a unitg Are not the harm
full results the same TO investors?
The new exchange soon, IN the sob
scure room of some Second South street
building as Mr.. Pollock generously
and with due consideration of true pro-
fessional courtesy describes the loca-
ton, viii be ar work In quarters which
will compare very favorably with the
uuinviting room of the old exchange,
aud in which the old exchange appar-
emily was ready and anxious to remain
indefinitely until property owner
further south inspired it TO peel off
its rusty shell.
Mr. Pollock is correct in concluding
that there is room for only one exa
change in Salt Lake CITY. The new
exchange has had that in mind all
along, and il firmly believes that its
rules and regulations will give in
vestors such unusual safeguards that
the people of Utah will see clearly the
uselessness of keeping the worn-out old
exchange alive. Mr.. Pollock finds the
support accorded the new enterprise
Certainly discouraging, and the end
is not yet,