The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-01-18
J. B. Cosgriff of Continental
National Briefly Reviews
Situation as He Sees It.
SAYS INVESTMENT URGED
BEYOND SOUND JUDGMENT
Believes Mining Industry Will
Rehabilitate Itself Quickly:
Future Prospects Good.

j. }. Cosgriff of the Continental Ma
tional bank is home from a two weeks ,
stay in Denver, where he has been look
ing after the interests Of the bank
which he with two brothers recently
opened there. Asked as to trade and
business conditions in Denver in com
Parison with. Salt Lake and the out
look for growth this year, he said:
Conditions in Denver are the same
as In Omaha, Kansas City and Salt
Lake, the people have anticipated
growth beyond a reasonable prospect
of development. This, T think. has
been brought about by the opportuni-
ties seeking investors rather than cap
ltal seeking investment.
MY idea of the person who has
made his money lcgitimateIy, starting
IN as "oung man and gradually grow
ing In wealth, is that he should be left
to his own ideas of ways and means
himself, and which in turn would be
profitable to the community in which
he makes the investment,
Widens the Distance.
Banking, as well as all other bust
brokerage business, having a ten
dency to widen the distance between
producer and consumer. This is evil
denced by telegraphic dispatches in
Tuesdays newspapers regarding the
enormous quantities Of produce and
food-stuffs held by brokers or commits
sion houses for no other purpose than
to yield larger profit to the middle
man.
ga natural conclusion TO be drawn
from this is, / think, that commercial
hNl YoI, l., 1,a
investment of capital beyond reason
able, conservative judgment of mer
who have surplus funds for investment
In other words, investments are urged
and exploited upon men with capital
whose better jud ~ment tells them are
not sure of returns
Mining Should Revive First.
"In talk had with David Fl. Mof-
fat while in Denver, he said he could
see that people are turning to irriga-
tion propositions, power plants and
suburban real estate ventures until the
great financial pendulum has reached
the limit of the figure it describes as
it swings first one way and then the
other. The mining industry. which
seems to have been the feature longest
towards which the pendulum will swing
back He said he believed capital
would be drawn in the direction of le-
citimate mininr before there is re.
vival of real estate or other industrial
concerns.
s'The financial statement of bank
is not a criterion by which one may
nudge the condition of general af-
fairs When bank is able to meet
the requirements of the rulings Of the
com troller of the currency 1T may be
said to be in good condition. The
same is true of bank clearings. The
clearings may not always show that
the volume of business is profitable
business. For instance, a retail store
NAV turn into bank $4,000 in one
day that came from selling merchandise
al less than cost In that case the vol
ume of business shown by the clearings
would not be called a profitable busi-
ness.
Automobile Source Of Waste.
81 believe that one of the greatest
evils to be remedied is the eXtrava
CANT waste of time on the part of
business men, and nothing contributes
more to this fault than the automobile.
A business man buys a machine and
then it takes his time away from his
business to wear the machine out.
"Salt Lake has better opportunities
for growth than many other cities of
the west and should make q better
showing tan he- sister cities this year
aud in the next few years.