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Show ij -, TfrE MARKETS AND THE MINES H I HPHOUGH the big markets in the cast H ih J- and our market here have little in H common, they have acted very much Hi alike comparatively since the war H came to an end, with the first news H' stimulating enthusiasm- with a conse- '1 quent ready absorption of stocks with H ' rising prices, and then a waning with H I ; the coming of bearish opinions. M f- ' For some months international news H 1 has had little or no effect on local j) mining securities. The response to it was worse than phlegmatic, but when i the big news came, ourmarket with one j foot in the grave took a great brace, m and the volume of trading since has B been greater than during any similar m period in months. l With that volume has come steadily H rising prices until the past few days m , during which general recessions have M I been noticeable. This is perfectly nat- j ural. Money restrictions are almost os Mt " great as they were before peace came, f i and the abnormal, sudden rises of cer- 1 tain stocks make them appear to be m good sales at present figures. H Money will probably be easier after H the first of the year, but in the mean- H, time we believe the speculative ele- H ment will not make a mistake by tak- H ing profits on the higher priced stocks H and putting the money in the more H meritorious prospects which have not H as yet had their rise. H We are told that the real reserves H j of Tintic Standard have not been m touched and that the stock will go to H five or six dollars. That may happen m ' eventually, but we think the stock is H ' ' high enough at present, and should be B I sold. f' An examanation of the Silver King H; Coalition is now taking place, and it Hj is said that when it is completed, there Bj will be a reorganization that will make Hj l that stock worth more money. Kk V Cardiff at around $2 looks good, and H ' will probably advance if present ship- Hj I ments are kept up through the winter. K, The predictions regarding Walker Hj J seems almost visionary, but the' people H i who control it probably would not have H i taken It, unless the showing warrant- m y od the belief that it would prove a H whale, and while present prices are H tempting to some sellers, it is probably H destined to go much higher. H Numerous other stocks that have Hj r shown unusual strength during the Hj past few weeks bear the earmarks of B manipulation, and those who have pro- M fits in these should run while the run- M ning is good. H People are anxious to play the mar- B kets again, the speculative spirit is M rife, but the lessons of thrift of the M past eighteen months lead market stu- m j dents to the belief that after the first m flurry is over in the early months of B j readjustment, solid investment will be m 4 in more favor than chance specula- M) ' tion, and for that reason the market- H, wise will take their profits on every j advance, unless definite news from the jj t property they are interested in war- V ' rants holding the stock. V , The readjustment is not going to be i j rapid, there will be plenty of opportu- j nities during Its course, and while min- ' I ing stocks will not be affected in acy- I ft n V- where near the proportion of the big rails, industrials, etc., they will advance ad-vance and decline more or less according accord-ing to the way national legislation affects af-fects the metals, and it should be a fairly easy matter to differentiate between be-tween the good and the bad. THE best news that has ever come to the silver miner is contained in the measure recently put on our national na-tional statute books through the ini-tintive ini-tintive and advocacy of Senator Albert Bacon Fall of New Mexico. It means that the price of silver will not be less and almost inevitably will go considerably consid-erably above one dollar and stay there, and every silver mine and prospect will benefit accordingly for years to come. Senator Fall is a Republican, but an opposition newspaper, the El Paso Times, tells the" story best. An excerpt ex-cerpt from an editorial recently published pub-lished in that journal will be of intense in-tense interest to every man engaged in silver mining, as well as many in other industries in the west. It will be worth while also for the man who plays the stocks, for it is indicative of the fact that silver cannot fall to past levels, and on the contrary will probably not go ,below a dollar for a long time to come. So the silver stocks in proven mines and meritorious meritor-ious prospects ought to be the best kind of buys, unless they are already too high with the spurt that followed the announcement of the armistice. In the course of the editorial we find: One of these measures was an amendment proposed by him, and ably justified in his speech before the United Unit-ed States Senate upon the same, to the recent bill providing for the sale by the United States to England of all the uncoined silver now held in the treasury of the United States, amounting amount-ing to about 350,000,000 ounces. This bill was brought in by the administration administra-tion forces for the purpose of leliev-ing leliev-ing a difficult situation which Great Britain found existing in India, the fact being that the Indian government was unable to purchase silver, due to the mining of the same having been interfered with by the war. The bill as originally proposed provided that such silver should be turned over to the English government at the rate of one dollar per ounce, and that the United States should re-purchase the same amount of silver in lieu thereof. Senator Fall was quick to see that under un-der such a bill the treasury of the United States would be required to purchase such silver at the market price thereof, and that this would result re-sult in the supply of the same coming com-ing from Mexico, since that country alone is now producing any considerable consider-able quantity of the metal. He at once introduced an amendment and passed it through the senate, which was unanimously passed through the house and is now a law, reuirlng that the United States should pay for such silver at no less rate than it was selling sell-ing the silver on hand to England, that is, one dollar an ounce, and that the silver so purchased should come from mjj-. wnir.yl)(Wi ! njpjn i -, r-Hiiwmwnil IMII II ll American mines, smelted in American smelters. The amount of silver now being produced in the United States does not exceed 60,000,000 or 70,000,000 ounces per annum, and the price has been governed by the price for which the Mexican mines have been selling theirs, and has been considerably below be-low the, price England was willing to pay the United States for the same. So Senator Fall's amendment moans that the silver mines of the United States can market their silver to the United States government for the next four or five years at the same rate, and establishes the market price for silver for all mine producers at not less than that amount for such period of time, without any los3 whatever to the treasury of the United States. It also means a big boost for silver mining, min-ing, now largely fallen into decay in our mineral regions, and should be a great boon to that industry throughout the state of Arizona, while in New Mexico, Grant and Socorro counties particularly, which contain a great number of silver mines they have heretofore here-tofore found unprofitable to work, will be greatly benefited. t THE October report of the condition of the state banks and trust companies, com-panies, show an increase of resources of $10,000,000 since the last report, revealing re-vealing a condition of prosperity that is most gratifying. The total amounts to $88,325,110, with savings of over $30,000,000 and commercial deposits of over $26,-000,000. $26,-000,000. The summary for business ending October 5, is as follows: Resources. Loans, discounts, and overdrafts . . $55,816,405.60 Stocks, bonds, etc. 15,017,633.58 Banking house, furniture and fixtures . . 1,898.242.56 Real estate . 1,646,752.63 Due from national banks- 6,911,154.44 Due from state banks and bankers . . 2,783,694.92 Cash on hand 2,213,083.47 All other resources . 2,038,142.80 Total . . . $88,325,110.00 labilities. Capital stoc paid in $ 7,615,965.00 Surplus fund . . 2,690,682.31 Undivided profits 1,313,552.06 Due to national banks 9,427,474.27 Due to state banks and bankers 2,569,142.25 Commercial deposits . ... 26,448,097.26 Savings deposits 30,342,754.03 All other liabilities 16,501,442.82 Total $88,325,110.00 HpHE fires at Alta and the below zero weather which has frozen up a number of pipes temporarily put the railroad out of commission during the week and curtailed shipments considerably. consid-erably. The various managements anticipate an-ticipate that this will be quickly remedied rem-edied and that shipments will be resumed re-sumed in a day or two. Most of the ore coming down the canyon was from the South Hecla, with considerable consider-able coming from the other leading properties of the camp. Alta has al- ways suffered, from the problem-of winter win-ter transportation, but the difficulties seem to be starting- unusually early this year. ' ' i npHOUGH the public generally isn't aware of it, the coal mining situa- i tion in the state is very serious. For months the people have been admonished admon-ished to str-e all of the coal they pos- slbly could, and most of them took ad- , vantage of the warning to the extent of their storage facilities. When this was fairly completed, the j coal began stacking up in the yards of the retailers, until now there is a j great supply on hand that Is moving very slowly. This has necessitated ' many of the mining companies working work-ing only three days a week, and the demand for men elsewhere is so great, that unless they can get a full month's , Work, they are very liable to quit. Then if a long cold snap came with a shortage of men the intermountain country might find itself short of fuel. The dealers, wholesale and retail, are in a quandry, and the financial aspect j of the situation is not very encourag- j ing to either of them. j THERE is nothing very inspiring in performance of the 'Knight stocks during the little excitement we are having locally, none of thein showing show-ing any signs of life except Iron Blossom, Blos-som, which is declining gradually. We believe that this stock is still selling too high, and seriously doubt if it will over again approach the dollar mork. ' It will be remembered that when it was selling at $1 and better, that it was freely predicted that the $2 mark would be crossed, but that did not materialize. ma-terialize. 'Miller Hill also is quoted at from 2 ' to 4 cents. Perhaps It would be well to issue a search warrant for that Pacific Pa-cific fissure that was to be found so. long ago that it is almost out of 'the memory of all save those who bought it at fancy prices. And there are so many other bonanzas in the embryo promoted by the Knight interests' that it would be more wearisome than in. teresting to enumerate them, and give a brief resume of what they havent done. The exchange should clean the list a little, and save some time for the caller. |