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Newspaper Page Text
GOODWIN'S WEEKLY 7 9 You Can Start With A Dollar Bank any amount as often as you can. Utah Savings & Trust Company 235 Main St. In the business heart I Our Secured Certificates, being an absolutely safe In vestment, sbould especially appeal to 1. Managers of estates. 2. Administrators with funds for Investment. 3 Insurance cbmpanles. 4. Those In charge of church funds. 5. College trustees or of ficers of lodges or fra ternal organizations, and C The judicious investor of personal funds. Additional information may be obtained by addressing Salt Lake Security & Trust Co. 32 Main Street, Salt Lake. HIMMmHMB9HnmnS0nBHH!W McCornick & Co. Bankers ESTABLISHED 1873. General Banking Business Trans acted. Accounts Respectfully Solicited. Mining and Financial " ONE should not expect too much of the mines or the mining stock market these days. The miners are a patriotic class, and if they do not celebrate American in dependence on July 4, which most of them do, they rejoice over the birth day of Garibaldi, the victories of Marco Bozzaris and the achievements of Kossuth. And then, for' a few days afterward, this year at least, it devolved upon them to go into mourning for the failure of another "white hope." Under such circum stances it would be surprising indeed if the mines we e able to keep pro duction and de alopment up to the top notch. You might suspect that they would find themselves tempor arily shut down or working short handed, and that is exactly what hap pens in Utah. In addition to the requirements of patriotism the brokers and many or, Bhall we say "some" or their clients suspended business to pay a neighbor ly visit to Nevada. The succession of holidays unsettled the market and took from the quotations the significance that would otherwise have attached to them. Just what that significance is would be hard to explain. We know for one thing that the total vol ume of business was $20,O'.'O less In June than in May and that the level of prices was generally lower. It is easy to sympathize with the feeling of the client who, when his broker ob served that June was the month of brides and roses, demanded: "What rose?" Still it pays to be sociable with clients even the inquisitive ones. The hesitancy shown above in speaking of "many" clients was prompted by a well-defined doubt as whether there are "many" of them. Some of the brokerage fraternity argue that the genus client is fast becoming extinct and soon will join the dodo and ich thyosaurus in the port of the has- beens. That this condition is not lo cal is shown by the story in a New York mining publication of a Gotham broker, who returned dejectedly from the dock and informed a sympathetic friend that ho was going to close his office as his client had just sailed to spend the summer in Europe. The moral of the tale is that clients should , be treated kindly and tenderly. If they have colds they should be treat ed with the kind ot cougn medicine the broker uses for himself not a draught from the chauffeur's bottle, and if they are inclined to be morose and -gloomy, a little sociable gossip is never out of place. Tell them, for in stance, that Uncle Jesse Knight has added another sampler to his Utah sampler trust. Yes, it is true. It must be true for it was published in all the papers. The statement appeared In black and white that the Utah Ore Sampling company, of which Mr. Knight Is J president, has purchased the Par!; City sampling mill. The tentacles of the octopus are slowly but surely enveloping the sampling business in their pulp folds. It has been stated in this department that Uncle JesBe Knight was enticed into the truBt magnate class by representations that John D. Ryan of the Amalgamated Copper company waB about to gobble the sampling industry and would make life a nightmare for the Knight com panies if Uncle Jesse did not come in as a half owner. It was added that no one was more surprised than Mr. Knight when It developed that Mr.. Ryan had nothing to do with the pur chase of the samplers and that he (Knight) alone had furnished all the money that went into the consolida tion. Another explanation of the matter is furnished by the gentleman who was charged with doing the enticing. His statement, which is backed by formidable "dockyments" is that the boot which propelled Mr. Knight into the camp of the monopolists was a contract with a sampler at Tintic. Under this contract, it is said, the Knight mines were to furnish the sa'mpler with a great quantity of on for testing. If the ore wore not fur nished the sampler was to be paid anyway. The closing of the Knight smelter at Tintic reduced the neces sity for sampling to such an extent that the penalty payments under the Knight contract threatened to exceed in amount the value of the sampling plant. Then, according to the spokes man, Mr. Knight consented to adopt any plan that would extricate hih companies, in an honorable manner, of course, from their unfortunate ob ligation. The purchase of the samp, lers and the formation of the samp ling trust was the plan. Mr. Knight fell for it because he could see no other way out. Such, at least, is the narrative of one who was closely Iden tlflod with the whole transaction. These trust reminiscences, however, are a digression. The question be fore the house is clients, how to get them and how to preserve them. Tht expedients adopted by the exchangb have not worked well and the sug gestion offered on this page that Utah mine owners 'make themserves and their mines noteworthy by furnishing complete physical and financial re ports monthly, has not been acted upon. The one thing left to do, seemingly, Is to trust to luck and the growing productiveness of the mines to create a fresh market for shares. In the older us well as thu newer camps of the state the stream of outflowing mineral Is growing day by day. It has been shown that in every month of the current year the output from Tintic has been larger than for the corresponding month of 1911. Bingham is surpassing all rec ords and Park City and Alta are climbing toward the shipments of the bonanza days. Although the public may not want the Utah shares now, FOR REAL ESTATE) I Mortgage Loans, I Fire Insurance I and Surety Bonds 1 i RealEsfate 1 Houston' InveejjtQj Capital $500,000 I Phones 27 351 Main St I Ctocqwt I Gliampap I Dry and Brut H The standard M of fine IB champagne M Sold by all high class dealers ,H Why do so many X H thousands of people rv$ H do business with &W this bank, and why YljIS is It growing so fWJrtl steadily and sturd- ftVtlll Courtesy central y-yy tHMh location facilities jjIlfty'JiifJ for handling large jlfltljiP accounts and for 5 lljjjlf transacting every J'!, I'l!,!! branch of banking i'j 1 1 ' J fa all of these are jj, H K among the many - M MJ "i factors, but one of jil H'j"'. the most Important 'jiiliM'y "! reasons undoubtedly jji i 111 I 111! is the confidence In- iiji jjjjjfF spired by a record jimiiiiifTJ ' of 53 years' adher- 17fnrjf ence to sound meth- Slifl'ja" I d8, Ssii ' WALKER BROTHERS BANKERS SALT LAKE CITY. You can do your banting buiineis here by mail from ' anywhere. $1.00 will open a eavinst account. Write for booklet. I