The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-01-13
Optimism Is Dominant Feature
of National Copper's Trade
and Finance Review.
SAYS FINANCES OF STATE
ARE IN GOOD CONDITION
Bank Issues First of Series of
Letters to Customers
and Others.

Cheering optimism is the dominant note
OF trade and finance" letter Just is
sued by the National Copper bank,
This letter is the first OF a series TO
be put out at regular intervals by this
institution for the Information OF the
customers of the bank and a limited num-
bcr of other business men.
In an explanatory note accompanying
the letter. President W. w. Armstrong
outlines the necessity on the part of
every bank of importance 10 keep in
touch constantly with the financial and
industrial centers of the country. and
most particularly with those related in
business with the region In which the
bank operates. Information OF this char
acter. .,er. he promises; VIII be contained in
these trade and finance" letters,
Healthy Financial Condition.
Speaking AT the start of the prevailing
conditions in Salt Lake. the letter says:
salt Lake City and the state OF Utah
are in a healthy financial condition. Our
sister cities and states show a Dropor
has been felt here. During 1909 we spent
many millions in permanent improve
mentS. More millions had To go out OF
the state i'm 1910 for materials TO com
plete the work begun. and the result is
That our own resources hayc been ma
tcrially reduced for a temporary periou
Our population increased nearly 100. 900 in
the last ten years and the land and min
eral values have advanced in great pro-
portions
Mining. smelling, coal industries oil.
salt. agriculture, fruit. lands. irrigation
and dry farming. dairy and poultry prod
ucts. livestock and wool. banks and bank
ing and real estate are some OF the topics
treated In the first letter.
AS TO oil development the letter says,
THE development OF the oil fields of
Utah is attracting much attention, and
the prediction Is heard that the state Ia
to become an important oil center In
1910 over 500. 900 was spent in prospect
ing and drilling. There are said TO be
forty seven oil rigs in the state. Sew
eral good flows arc reported"
No Slump in Prices.
As to real estate in Salt Lake City
the letter SAYS:
IL was In 1909, which was notable for
large transactions There has been no
slump in values in the city, though out
lying additions have suffered 10 some cx-
tent. Prices remain firm generally and
sacrifices are not being made to meet
emergencies. The Increase in popula ton
from 80. to 92.277 since 1890 has caused
a steady advance in realty values during
this period"
All through the letter Is decidedly op-
tlmistic in tone and IL concludes with
thesc words:
"a comparison Of the figures given lin
the statistics quoted OF the various in
dustries of this region with the statis-
tics OF other states would convince any
one OF the tremendous progress being
made by Salt Lake City and Utah. and
Of the great material prosperity OF It's
inhabitants. Conditions are constantly
improving new industries are being or
eanized and developed. and established
industries extended, while the marked ex-
Dansion OF the agricultural movement
possibly best of all portends continu-
ance OF the increasing prosperity OF the
state"