| Show ON O N LOCAL SITUATION Voices Prevailing Opinion That Prop Property Property Property erty Here Will Continue to Increase in Value The expressions f of or local bankers who watch vatch the pulse of the mining stock mar market market ket hot closely closel during durin the past few days dayson on the continued reports from New NewYork NewYork NewYork York and other centers regarding the money mone situation and Its probable effect on local conditions have tended to relieve any an tension which might exist in Utah and Salt Lake City F R E McGurrin president president president dent of at the Salt Lake Security Trust company who is to in a position to know the situation Intimately through clients of his company compan who are scattered about the entire country c In an Interview last even evenIng evening Ing admitted that there seemed to be cause for lor alarm in the east and middle west est where people had Invested their savings In mining stocks during the mining boom of last spring and who have during the past few weeks been unloading because of the sharp decline In the price of oC copper Our company has never been allied with the mining business to any an extent said Mr Ir McGurrin and consequently I have haye not paid the stock market the he at attention that I might under other circum circumstances circumstances stances Our business as is known is confined mostly to loans on improved real estate and the market for tor such su h business has been most brisk and all we we know is isa Isa isa a condition of ot continued prosperity We Weare Weare 1 are building a great number of homes for people who have hae saved a portion of their earnings and these same people without exception seem to have havo the opinion that property in this city elt will continue to In Increase Increase Increase crease in value and multiply their investment invest inest investment ment Our deposits are greater than ever en r he be before fore and in fact every department de of the company shows a gerat erat percentage of In increase cr crease crase ase Personally I am most of the local hoes situation and am one of those who believe that the mining stock market will right itself ns as soon as the present tightness lightness lightn s of oC the money market in financial enters Is relieved In my opinion the condition will have no effect what i vrr ver on local banks I |
