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Show SAtT LAKE CITY. A correspondent of the Boston Post, discourses thus concerning Salt Lake and Utah: Salt Lake City, April 1873. The city of Salt Lake, tho county snat ofits county and tho capital of Utah Territory, is situated at the base ofaepurof the Wasatch mountains, thirty-eight miles south of Ogden, at which place it connects with the Union Un-ion Paeitie and Central Pacific railroads by the Utah Central railroad, which was built and is owned by tho Mormons. Mor-mons. The city u laid out in ten acre lots, with streets one hundred and thirty-two feet in width wilh locust and cottonwood trees and streams of water on either side of tho road. Tho buildings build-ings in both church and . municipal governments are, in an architectural bense, handsome, at the satuu time possessing more than ordinary solidity. The oity is tho largest trade centro between St. Louis and San Francisco. Ono concern, lion's Co-operative Mercantile Institution, does a wholesale whole-sale and retail business of over four miilion dollars a year. This institution was organized four years ago in the interest of the Mormon people, who, previous to its going into operation, had been at the mercy of many unprincipled un-principled and over-exacting tradesmen. trades-men. The concern has been in every respect a success, having paid for tho past few years a dividend of twenty per cent upon the oapital stock, which now amounts to nearly six hundred thousand dollars. The asscssablo valuo of property within the oity limits exceeds eight million dollars, while the resident population is about tsonty-six tsonty-six thousand, and the floating population popu-lation will at least amount to five thousand, tho majority of whom aro tourists and ruiuing operators. Tho amount of mouoy in circulation throughout the Territory is proportionately propor-tionately small when tho demands and necessities of the people are considered. At the close of the year 1872 the deposits de-posits in the national and private banks in this oity amounted to littlo less than ono and a quarter million dollar?. During the busy BeaBon, commencing in May and ending in November, tho money in banks and with individuals seldom exceeds three million dollars. So persistent are some in their demands de-mands for money that it is loaned at apparently exorbitant ratoa of interest. The regular rate of the banks is two por cent, per month. This to many would seem, hazardous; Buoh, however, is not the oaso. The loans are not unsafe un-safe ones, the demand for money is so much greater than tho supply. The placing of oapital in legitimate enterprises enter-prises brings such largo returns that the Interest is an easily paid as it would be in New England with less profitable investments and where tho oapital employed em-ployed is obtained at a less rate of interest. in-terest. Indeed, everything rests with the disposition of tho money, and proportionate pro-portionate amount loaned compared with the value of the security. Real estate is not assessed at its full market mar-ket value, and one-third of that assessed value is what loans are generally made on. If there was live hundred thousand dollars of foreign money to be placed, it could be loaned in this oity upon ample cccurity within sixty days at from one and a half to two per cent, per month. Three million dollars oould be well invested here during the coming com-ing busy season. Properly invested, it would ba a source of great profit to the investor as well as materially advancing the interests of Utah. The titles to property in this oity aro exceptionally perfeot. The conveyance con-veyance by patent from tho United States to the city, or to the mayor as tho representative thereof, having been made only one year ago, hence few transfers have been made and few mortgages contracted during tho succeeding suc-ceeding year. The mines of Utah have attracted so much attention during dur-ing the past two years that nearly all the foreign oapital coming here has been directed to that source, and not placed in real estate, which would undoubtedly un-doubtedly have been a steadier and surer investment. Bare opportunities are also offered to capitalists who would unite energy and enterprise with their capital in the matter of railroad construction. con-struction. The valleys of Utah produce pro-duce all the necessary products for the mining population as well as for the more immediate consumption. Hence the necessity of having a network of railroads for oommon oarriera, whioh in return would freight from the various vari-ous mining districts thousands upon thousands of tons of ore in its various conditions. INew Jcork oity capitalists have invested considerably in Utah railroad stocks, and their investments bring them revenues each year equal to that whioh they would receive from the same amount of oapital in three years were it invested in a bimilarway in the eastern States. Likewise there is an opening for investments in the way of manufaotuics, especially that of iron, the beds of which are inexhaustible inexhausti-ble and of the purest kind. In closo proximity to these beds ooal is found in great abundance, A freight tariff of not less than two cents per pound would protect the manufacturer hero. The periodical occurrences of heat and cold in Utah are not characterized by the extremes peculiar to other places pla-ces embraoed within the Bame isothermal isother-mal lines. The altitudo of a great portion por-tion of tho Territory makes the degree , of cold greater than in the same lati-! lati-! tudes at a lower elevation, yet tho de-i de-i gree ofooid indicated is not in proportion propor-tion to the elevation. According to certain European theorists, theo-rists, every hundred and eighty feet of elevation makes a change in olimate equal to a degree of latitude. If this held good in Utah tho summit of the main range would have a temperature equal to that of Greenland, and the plains equal to that of Labrador, while the established faot is, that tho average aver-age temperature of the plains is about the same as that of tho same latitudes on tho Atlantic coast, and that of the mountain regions about tho same as is had on the Atlantic seaboard in a latitude lati-tude but four to five degrees farther north. It is not my intention to theorize theo-rize upon this phenomenon, but only , to give publicity to tho fact wbich so largely influences the prosperity of the Territory; and at tho satpo time bo greatly ooncerns many health-soakers among your people. That the elevation eleva-tion has something to do with generating generat-ing a latent heat in the soil and amid tho rocks, which destroys thehumidi-ty, thehumidi-ty, is evident. And indeed the peculiar pecu-liar geological formatiouti of tho country coun-try must aid in produoiog tho aridity peculiar to the plains and mountains 1 of thcpe region?. But whatever may be tho cause, tho results aro, a less average fall of rain, hence a grcator degree of dryness in ihe boiI than in the same latitudes on our prairies or on the Atlantic seaboard. |
