The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-05-28
BUSINESS AND TRADE.

The leading business event OF the
week for Salt Lake City was the an
nouncement made in Tho Tribune ex-
clusively on Thursday morning, of the
certainty Of the completion of the Moi
fat road, giving us a short line to Den
vcr Moneyed men Of Denver have
subscribed $750,000 for the preliminary
work of putting through a new combi-
nation TO complete this road. Colonel
Dodge is at the head Of this new move
ment. He says emphatlcally that he
takes hold of it, not for the purpose OF
building trivial branches or making un-
important connections, or Of leaving the
terminus at Steamboat Springs; but he
takes hold Of the enterprise for the ex-
press purpose of putting it through to
Salt Lake City. and not otherwise. He
will push construction at rapid rate,
and viii mover rest until the road is
fully completed from Denver to this
point. No better news could possibly
come to Salt Lake.
High officers Of the Western Pacific
and of the Denver & Rio Grande roads,
in their visit to Salt Lake City during
the week, decided to put on two new
trains between Denver and San Fran.
cisco via Salt Lake on June 18th.
The Trans Continental Passenger As.
sociation finally and wisely decided to
meet in this city on June Nth, Siren
uous efforts were made to get this meet
ing away from us, but the Commercial
Club, with its usual prestige of sue
cess, won the fight. 1t is a very i'm
portant meeting, and Salt Lake City
will do the honors to the visiting agents
in good style.
The work of double tracking the
Southern Pacific between Lucin and
Montello is under way with a large
force employed.
New time cards have been arranged
by the officials of the Salt Lake Route
and the Oregon Short Limo, to take
effect today.
Business in this city has been all that
could be expected during the week,
according to the general run of com.
mcnt among retail merchants and bust
ness men. Stocks have had heavy
runs, especially in the light.wear sum
mer merchandise. The week shows
well, and money is plentiful
A general feeling of confidence
among realty dealers in Salt Lake is
noticed The sales have not been large.
but there is a streng thened feeling that
gives assurance of increased business
Land values arc strongly held Money
from the East and the West is still
seeking investment, and this strength
ems the market for realty men. Home
site lots have sold well among resi-.
dents of Salt Lake during the week.
Building has gone forward uninter.
ruptedly save for the rains. New resi-.
deuces are being planned in different
parts of the city, and the general out
look along this line bears out predic.
tious made earlier in the year of a
substantial and active building season.
The rains Of the week have been
enormously beneficial to the growing
crops, and especially to the dry farms.
The outlook agricuIturally for the year
is almost unprecedentedly good
"
On Friday morning The Tribune had
dispatch from New York from James
+, Fitch. stating that he had succeeded
IN organizing a corporation composed
of well known finauciers in New York
to operate oil fields in San Juan county
and other parts of Utah. The company
viii be known as the Utah Consolida.
tion Oil Company. with "A capital of
SIS, 100000. Mr. Fitch has 100000
acres Of oil lands, mainly in San Juan
county, aud he says operations viii be
begun Immediately. There is no doubt
of the great richness of the san Juan oil
! fields, and under The new law which
| frees the locators Of oil lands from i'm
possibilities as between the law and
! the executive regulations heretofore,
! operations can be pushed successfully.
! The oil business in Utah is likely to
come very strongly TO tho front in the
near future.
According to reports from the East
| the effect of the Standard Oil decision
has been TO increase the demand on
the part of the domestic consumers for
copper II j. estimated that close 70
10000 600 pounds of the metal have
been sold during the past two weeks
at prices ranging from I2A to 1915
! cents per puund Sentiment is much
more optimistic in copper circles, and
there has been as yet no adverse crit
cism of tire reported determination Of
several of the larger producers to IN
crease their output.
Copper circles were enliyened some
what few days ago by the statement
that frequent conferences arc being
held by tho big copper producers, whose
object was thought to be a closer union
either by "A merger OF properties or
working agreement to observe hereafter
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