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Show INTER-MOUNTAI- MINING REVIEW. N Reply from President Donnellan. The Review publishes below the card of the Salt , if President Donnellan ake Stock and Mining Exchange, in hich that gentleman takes exceptions to the statement that certain reputable brokers were led to believe that was not desired by their the Exchange. The facts are matters of too recent history to merit discussion and the The Review does not care to add to its comments of last week. Following is President Donnellans card: fllNINJ STOCK REVIEW. 1 I The Salt Lake Stock and Mining Exchange may now be said to have settled down to business upon a permanent basis, and while the weeks sales of listed stocks aggregated but 2900 shares, against 5000 the previous week, there was increased activity in the unlisted shares, the week's sales reaching 40,475, against 26,600 the previous week. This emphasizes the views expressed the exby the Review last week, that lower-price- d change must look to the stocks, the speculative shares, for the bulk of the trading, rather than to the high-price- d investment securities. A cheap stock is not necessarily' worthless; many meritorious properties a;re embraced by the unlisted call and many speculators prefer that stock which of-fers the greatest opportunities for gain,A number of partially developed proshave made application for listing,and the listing committee will pass upon them this week. They will not be listed among the producing mines, but will be given a place upon the board under a separate classification, and full statements concerning their condi- tion will be entered upon the records, open to the inspection of all members. In the listed shares Mammoth gave way to Mercur as the center of attrac- -tion. Sales were made at the astonishingly low figure of $5.60, the bears ta- -advantage of the general uncerthe tainty concerning dividends and diviof the After sale the property. dend announced by the Review last week had been declared, and the public had become pretty thoroughly convinced that the De Lamar option would not be taken up, the stock recovered and was firmly held at $6.20 at the close. Indications point to uninter- . -- n the erection of a plant. Mammoth was a shade weaker, at $1.40 to $1.45, with but one sale at the latter figure. The prospects of the company continue to improve, but there will be no dividend in the near future. The management has decided to add ten more stamps to the mill, in addition to the ten now being placed, and twelve frue vanners. These stamps do not in. 11 pected to be placed in the East. American Natural Gas advanced 3 cents,' owing, possibly, to the completion of a new well with a pressure of 200 pounds. The .flow is said to be freer than in any well yet completed. The company now has three attached to the supply pipes and seven in reserve, and another will be commenced at once. If the internal affairs of the Editor Intermountain Mining Review: company ever get straightened out, the In your recent issue, January 7th inst., in stock ought to be worth a great deal the establishment of the more money than it commands at presr announcing Stock and Mining Exchange, you state that some firms were led to believe that ent.4 was not desired. I beg their The bottom dropped out of Bogan, to is not true. A few perstate tnat this which slumped to 12, owing, doubt- sons in the business of brokerengaged less, to the suspension of work, the ab- age opposed of a Stock the establishment sence Of ore and the quarrels of the dnd Mining Exchange, and naturally they stockholders. were not consulted when it was decided Outside of the exchange Silver King to go on with the organization. After sold at $14.60, $14.50 being bid quite the required number of members was secured and the. constitution was adopted, freely. There were quite heavy sales and officers elected, then it was publicly of Mercur at $6.10, and bids of $59 for announced that all other reputable broCeritennial-Eurek- a and $3.40 for Sun-pec- kers and other citizens desirous of shine. Tetro advanced to 10 cents on ing could sign the list of members atjointhe the strength of more favorable reports original entrance fee up to and including December 30, 1895. This being the case, from the property, a fair criticism for you to The Gold Dust subscription list closed it is hardly was excluded. It was free say anyone with the 50,000 shares of treasury stock and open to all citizens to join up to that all subscribed at 50 cents. The bulk uate, on equal terms with the original orwas placed in the East, The way is ganizers of the It is announced that the Samson still open to all Exchange. persons to enreputable the association, but they must now company, operating at Bingham, will ter offer 20,000 shares of treasury stock at come in in the wFay prescribed by the for the adm.ssion of new 10 cents. The capital stock is 500,000 constitution as I understand the objects and members, shares at $1 each. of Exchange to be to secure material The Sterling company, owning prop-kin- g aid the for the development of the mining inerties south of the Sunshine, levied an dustries, of the State, to afford reliable assessment of half a cent per share on marl" quotations for mining and other the 200,000 shares, and It was promptly stocks, to facilitate trade and therefore promote the public welfare, I assume the paid. responsibility of cordially inviting every Following were the closing quota citizen who is interested in the objects tions: of the association as above stated to send co-operat- ion co-operat- ion ts . , I in his name for membership at once. Yours very truly, JOHN W. DONNELLAN, President Salt Lake Stock and Mining Buttes Forty Thousand. 500-to- Butte is the most prosperous city of Its age in the world. To produce the $30,000,000 per year of mineral wealth has required in the mines and smelters 1.45 Mammoth".', "i l.V) the labor of some 7500 men, and there Marion 6.20 6.00 Mercur are employed in other avocations about Old Jordan the city, which the great industry has 9.25 8.50 Ontario built us, fully 2500 other laborers, who, 14.25 Silver King in this city of union labor and good Sioux Consolidated 3.42 Sunshine wages, receive along with the miner, 90 Utah the mill man and the smelter man, an CALL. SALES ON average of about $100 per month each. Ajax, 1000 300at 50c.60c. This makes a total of $1,000,000 per at Alliance, month paid to these 10,000 men, and as Anchor. 300 at $2.00. it is in turn paid out by them for the Mammoth. 100 at $1.43. 1000 $5.60. at necessities and pleasures of life, it Mercur, 200 at $3.42, $3.47. Sunshine, means the distribution by them of Total sales for the week, 2000 shares. $1,000,000 every month among the busiUNLISTED STOCKS. H. Bid. L. Ask. ness peopleof Butte. And the wages are only one item in the expense of American Natural Gas Annie conducting the great mines of Butte, Boss Tweed which are producing month by month B. B. Tunnel Co two million and a half of .money Bogan Buttes 40,000 are the best clothed of Cleveland Comstock any like community in the world, and Dalton it is the mines that do it. Buttes 40,000 Eagle are the best fed of any like community 5ast Golden Gate in the world, and it Is the mines that 1 do it. Buttes 40,000 are the best housed fnslev of any like community in the world, Little Pittsburg and it is the mines that do it. In short, Lucky Boy, Park City Butte's 40,000 are the best provided for Eureka Hill I volve additional pans and settlers, as they are for the concentration of the low-gralead ores on the deep levels. de These improvements will increase the capacity of the mill to about 150 tons per day. One thousand shares of Ajax found ready sale at 50 cents. Development work continues in good ground with regular shipments of ore. Sunshine was unchanged, sales being made at $3.42 and $3.47. The value of the cyanide shipments, which will determine the future course of the stock, are still unknown. Those in authority declined to confirm a report that the first shipment yielded $25,000, protesting that they had received noadvices from the refinery, but admitting that assays before shipment showed the value to be quite satis- factory. Bullion-Bec- k was held at $9.50, with no bids. The directors will hold their regular monthly meeting the early Hardscrabble part of the present week, and another Morgan, Park Clty dividend of 25 cents is not unlikely. management has increased the mill capacity by the addition of a 25- - Minnie old pred' ton pulverizer. Utah paid a dividend of 1 cent, and Rich & Anaconda Tetro Silver King- 25 cents. Of the unlisted stocks, Little Pitts- - Utah, Tintic burg took the lead, large blocks being offered and taken at a slight advance American Natural Gas, 1500 shares at over last week's sales. Reports con- - n cents. cerning the merits of the property are Bogan, 1000 at 1215 cents. Dalton, 1000 at 10 cents. conflicting, but It is quite apparent that many people regard it an easy Eagle, 300 at 25 cents. Gate, 200 at - cents. gamble, as the sales aggregated 36,300. East Golden 75 of Ji 45 Dalton was sold at an advance of cents. Little Pittsburg 36,300 at a cent over the previous week. half The Morgan, 100 65 cents. at Hardscrabble, statement that an ore shipment would Total sales for the week, 40,475 shares. I I I - A San Franciscan has paieiiLiT of novel construction. The hull consists; of an tapering cylinder, which revolves around a hollow shaft, and around the exterior of which is a spiral flange. The hull is made to revolve by a motor, and the spiral flange propels the vessel. Thf hollow shaft about wmeh the air-tig- ht, 1 -- 33 e Ss.r ', . . e X ''V jf ,S - Vs... aM |