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Show i ll I The Market and the Mines i m Ji Le!,t WG forget uat a11 mIninS i not done on i I'll III tlle excan8o it is well, now and then, to road ' 'n I jiff of the discoveries made far from the maddening i ! ' m I ,!' brokers. As Omar would aay: 'i'M'fl A lec3Ke of copper unexplored and rough; ! i lj' sJ A llttle seam of the rich yellow stuff in II ""' Anc tlen some silver in the prospect hole IS slo ' Oh, prospect hole is Brokers' Row. Enough! 'Hi afJ ' Inspiration for this metallurgical Ruhaiyat ( H Jr,j,'j comes from Promontory to the north and from ! ' ;-J jm ' i Beaver county on the south. Native copper, cop- Bj ' IS Jp v : per glance, malachite and azurite all standing out ! M K i clearly in the face of an open cut at Promontory f'flj fl have attracted scores of spectators from Ogden. ' Jl I ' Those who could not afford the trip appeased Hi M themselves by gazing at the samples exhibited in ' . :m K'j1 town by the Lakeside Copper Co. Six to eight I I!"' " feot of oro tmt wil1 assay 20 p0r cent cPPer 53 IH ; j said to bo exposed in the cut and is pleaded in H ' 11 H justification of the prophecy that a new Bingham ' vm 'm wil1 ultimately be developed on the shore of Ml ; M Salt Lake. Hh lW & & & -in f Beaver county stakes its reputation on a find j J :M ' matle by tno Ce(lar Mining Co. in the North Star !m ,; district, the finding of a vein of free gold which , ' i ' J "l'. will assay, the owners claim, from 5 to 10 per cent 'i ' quartz. The amount of quartz may be oxng- HL " 18 f!. gerated but there seems to be no doubt but that ' ! jffi :r tne ldo runs high in galena and horn silver. HB " ' ' f 'ffl it mmernl,zed streak in the hanging wall at the H1 ! 225-foot level attracted the attention of the super- VI i ' ml w$ intendent and he started a drift upon it. Jn less I 'iiiw. tll0n flft0Qn feot tlie strealc nad widened to 18 ' ' UK Hit inches and displayed values which, its enthusiastic ' lllff Hi admirers claim, put Nevada on the blink. 'Se f Suctt coml)arisons aro sometimes odious and '''.IS f. '! again they are silly which is worse. This com- 1 M V l"i ment is suggested by the fevered imaginings of a Hi '! J . ' ' mining writer who recently said in cold type that I' ! 'i 1 ! . Nevada was outstripping South Africa in the pro-duction pro-duction of gold. The absurdity of the statement .: iff j ; 'j "was patent to everyone who knows anything of , (tffijU sold mining, and it will appear equally absurd to ! ' I'lSi ';' I tne amateur when he roads in the current journals ' " hWn $ tlmt tllG ProductIon of tno Ran1 in 19C wa 5,- ' 4-'Ei,'i 7S0.017 fine ounces worth $116,068,000. That is j jffjv'- mre g0li tlmU WaS foun(1 ln Neva(la Colorado, California, Utah, South, Dakota, Alaska the whole United States and its possessions last year. The conscientious mining writers who aro trying to keep the industry within legitimate business lines should muzzle the hair-trigger enthusiasts who make such breaks. j There aro "ways and other ways of making money. One of the other ways is- illustrated by a story heard in the clubs but not yet seen in print. The writer does not use names since he cannot guarantee the truth of the tale. It concerns a mining min-ing magnate, a Nevada flotation and a pool. The stock was placed on the market at a very moderate mod-erate price, a price which promised high profits. To protect the company against the depreciation of its treasury shares- the promoters pooled their stock with that of other large holders. The magnate mag-nate wanted to got in. He pleaded so earnestly that he was given a block of 10,000 shares at bed rock prices after pledging himself to hold it until the treasury stock was marketed. The promotion Avent on swimmingly so well that the stock nearly near-ly doubled in value. Then came a reaction which carried it backward toward the subscription price. The extremities of the Magnate became frigid. He began negotiations for the sale of his holdings. The promoters heard of the negotiations and sent the magnate word that they would take the 10,- 000 shares at the price he had paid for them. The offer was accepted, but by the time a messenger arrived with the check the stock had started up grade again and a comfortable warmt hhad diffused dif-fused itself throughout the magnate's trilbies. "Take back your check," lie exclaimed scon? fully. The chief promoter sought him out and 'said: "Mr. Blank, why do you not deliver our stock?" "I don't want to sell," was the reply. "But you agreed to sell." "I have changed my mind." "I insist that you either deliver the stock or sign an agreement to hold it until the treasury issue is sold." "I give you my word," said the magnate, "that 1 will hold It, but I will not sign an agreement. That is against my business principles." The promoter was forced to be content with this promise, but he was not greatly surprised II feW days later when the stock showed a 50 per I cent profit, to learn that a block of 5,000 shares 9 soid at private sale for the top price had come I from the strong box of the magnate aforesaid. & & & fl Until the Bambei'gers get back from New fl york stockholder in Park City properties will not be thoroughly sure "where they are at." J. J. is credited with the admission that his group is fig-I fig-I uring on other Summit county mines and an East-H East-H enr publication intimates that Daly-Judge may go I the way of Ontario and Daly. The change in con- trol has brought Ontario to a price above $7, some-I some-I thing that was undreamed of a few months ago, fl and Daly is standing firmly at $2.50 a share, m the meantime Carisa, another Bamberger promo- tion, is making a better record under ground than I on the stock exchange. Shipments of a car a day H are being made without stopping an da new ore fl body of great promise has been found on both the 200 and 300 levels. hB I For the first time in a decade the Silver King has failed to declare a monthly dividend. This I failure was anticipated and has exercised no in-I in-I fluence on the price of the stock. Fven without 8 immediate dividends the King is in a bettor po-fl po-fl sition now than for months past. The threatened I litigation has been settled and the settlement I leaves the King in possession of a large tract of I virgin territory capable of making more mines Wm like those for which Park City is famous-. B g & i? B The clouds that have overhung Goldfield since B the beginning of the year are well nigh dissl- B pated and the pessimists are taking to the woods. B The strike was settled as Goodwiin's Weekly pre- B dieted; the Sullivan Trust Co. is meeting all its B oblig is and Goldfield stocks are showing a B buoyancy that defies every attempt to put them B down. There has been a reasonable apprehension that the lessees- whose contracts expired this month would leave the big mines "gophered out" in such a manner that much dead work would bo necessary before production could be resumed by the owners. A reliable in4 -mant says that this fear, while not altogether groundless, is an exaggeration. Much dead work will have to be done, but production will continue and will soon regain its normal volume simply because the lessees les-sees could not get out the rich ore that was actually act-ually staring them in the face. From the inside it is learned that the consolidation consoli-dation of the Standard and the Bingham Central is something more than an idle rumor. Such a consolidation will put Samuel Newhouse, still blushing over his new honors aa president of Nlpissing, and D. C. Jackling in charge of the Standard. No wonder the insiders are grabbing Standard stock with both hands! c$ The week on the exchange closed "Wednesday night on the of 385,034 shares for $300,568.85. Ore and bullion settlements have declined to $477,000 for the same period. This- has been a bear market. Columbus Con. was- put down to $4.95 from $5.50, Lower Mammoth from $2 to $1.90, Little Lit-tle Chief from 18 to 13 and Mountain Lake from $1.02 to 84. These losses were partially offset by the rise of South Columbus from 56 to 73, Black Jack from 78 to 82 aand Carisa from 60 to 62. |
