Show J W YOUNG IH UTAH something of companies on which ho borrowed from equitable the salt lake herald says the names of john W young and tho equitable life assurance company wore coupled noi once but hundreds of times in salt lake business circles yesterday following the dispatches from new york telling of borrowed by the former L on local stock which afterward praed valueless it slow work this latter day rehashing of john W youngs career as a promoter for many of his enterprises in this bbate have long and are now bearing golden fruit for others none is known by the name he gave thorn it seems as a s though aal of cwm W s business were marked they either ard agn early death or they were born again and the seventies seven lies ana eighties eight tes and barly nineties were das sn opportunities in this state W young was the man who them or as often made opportunities as found them when he wa so old and tho held was as yet younger lie saw what steam transportation could 10 lo for utah and he acted prom that time han lie t tho ulah contrail until a lozen eara ago lie planned borrowed and hum somo heues v isely anal sometimes un 1 these aya rolf ti be frenzied yesterday ah akl asocial aso ciaK expressing the chang as it bould ben then said simply tried to bite oc bigger chunks then he could swallow it wa a few of these bites which resulted in the equitable loans the chunks were tho salt lake eastern railroad the salt lake fort douglas railroad the salt lake rock company and the sierra madre pacific railroad the first named road raa to tap ultimately the timber district about provo the salt lake fort douglas bad park city for its destination the salt lake rock company had for its purpose a tight corner in atone products the sierra madre pacific was a mexican adventure apparently john W young got his out of he last scheme for a few years ago his claims were compromised in new york for something like john W young naturally ran to railroad as one old time acquaintance phrased it the third son of president brigham young early began the work of furnishing map makers material for black lines when they came to utah in twenty years he had projected and built lines running north east south and west he kepic track of his roads somewhat after a geographical fashion for there were easterners and southerners and centrals etc in 1870 he byirt the utah central railroad to ogden giving zion improved means of transportation to the junction cay then ue decided to put the southern pan of the state in communication muni cation with the capital he financed the utah southern in this as in others of his railroad enterprises much english capital was invested the utah southern aras built lo 10 sant quin the utah northern came next being built in the middle of the seventies this road connected brigham city with franklina Fran klinT cache county and was to a point much farther north the above hamod roads or their ay have since been acquired by harraman Harrl man interests in 1873 young having built a southern northern and central built the utah western this road connected salt lake and thoele tooele it was on this enterprise that many believe young hoped to make a big stake the desire tor closer bonds between this city and los angeles was as strong among the latter day saints then as it ever has been and young no doubt intended to push rails across the nevada desert to southern california in 1880 mr young left those at home to look after the railroad situation temporarily and went to arizona where he efured a contract to construct miles of railway for the santa fe having helped this company on its way to the coast he returned to salt lake promising fields appearing to have been overlooked in park city he secured backing tor the i tab eastern and utah and fort douglas in 1886 these roads he not only completed but operated to advantage in these two english capitalists were Ahe principal and bond holders about ten years ago subsequent to the part the roads played in the equitable loan the bond holders became dissatisfied and foreclosed the arth of the salt lake rock company and the sierra madre and pacific occurred at about the same time while they hac no connection they were probably twin projects of youngs as far as the year of their nativity is concerned it is the salt lake rock company which was misnamed alis salt lake dock company in yesterdays dispatches many puzzled all day and night seeking a solution of the dock mystery before they remembered youngs corner in stone when the mistake became apparent serious suggestions were made however that as young had 11 yacht and a row boat or two on the lake he might have conceived the idea oc a harf company ho handle freight and take care of the large lake ta aelic at that time in general sierra madre interested many utah church members as it was by an indisputable grant irom the mexican government conferring some privileges or other on john W there was a misunderstanding however after the building of the road and a law suit in new york was the cons quence the company had been organized in that state in the compromise effected a few ears aso young lost nothing it Is understood john W youngs corner in rock was complete so far as native stone in this vicinity was concerned but it through because some one else also had a quarry or two doing business in the state the losses in this case ran into the thousands during the past twenty five years mr young who is now in his beisty year spent as much time in the east and elsewhere on business as in salt lake city in 1891 however tie took up his residence here intending apparently ito stay for some time the bigger things in the cast shortly called him and for ten years he has spent the majority of his time in new york cuy his last visit here was about tour years ago in speaking of mr youns yesterday afternoon w old business intimate said john W wali and Is one of the ablest men the west ever produced A study of his early career lo 10 utah is a study of the railroad progress of the state young was discerning and quick to act when he saw the feasibility of a proposition no matter how great the undertaking might seem when you come right down to it there few of his projects which have not since proved successful the trouble watib john W is that he has too often let go into other handa prop arties which ho had planned and nursed to good start he appeared to take more pleasure in the planning of a big enterprise or a successful coup than in the material results this ability to travel in big company has been demonstrated since he went to new york he has been one of the leading adver in the big shipbuilding trust whatever faults john W may hava had and im not saying he had any ho can be accused of nothing worse than of having occasionally tried 0 o bite a bigger chunk than he could s allow he has been a good fellow to his friends he possesses a magnetism that few men with whom he has had dealings have failed to notice there is nat the slightest doubt in my mind that it was less than a hard daya vork that is 10 say no strenuous task for young to get that odd on his railroad tind rock collateral |