Show THE SALT LAKE BROKERS AGAIN I 1 first of all I 1 am herewith inclosing a copy of our market letter of week before last this was written for tin th purpose of calling attention to the methods which are in vogue in the salt lake market and the herald republican the leading newspaper of salt lake city thought there was so much truth in the letter that it re pub dished it nearly in full and up to this thi time although our name was waa signed to the letter no brokerage firm of salt lake city has taken the trouble to write and deny the charges contained in that letter the above item was published by a new x ork firm in one of the recent issues of their paper and refers to the article headed roasts brokers for depression as published in the herald republican for september ath 1909 the roas hardly needed tion for there w was a s so little for any such an attack or the preferment of charges as given in the item above the burden of these charges see seems is to be that the local brokers have not been enthusiastic in recommending certain mining stocks the question naturally arises whether the action of the stockholders in throwing on to the market so many shares of stocks and thus causing a depression has not borne out the local brokers in their course the salt lake exchange board is very sensitive and quickly reflects the disposition of the investor whether he wishes to buy or sell almost before any information is iven out from the various camps the good condition of a certain mining property is quickly shown even during the fall of the certain stock on the exchange if there is any change in the property that would lead one to sell his stock this thia condition is promptly reflected also in the price on the board before mine owners get any word as to these changes the miners working underground will place their orders by telephone and at once the changed condition is noted by the quick advance or decline of this stock on the floor of the exchange the broker therefore should not be blamed for the action of the investor himself the broker is the medium for transfer of securities rom irom seller to buyer and has little or nothing to do with the making of the market As was stated in these columns in our last issue there is a time to sell mining stocks as well as a time to buy the conscientious broker will therefore promptly recommend ato to his clients the sale of any stock in which there has been a very great profit or the sale of a stock if the broker feels confident that the prospect is for a very decided decline in this way the client will get the advantage of the profits on account of the advance or save himself a greater loss by selling promptly the history of the transactions on the local exchange warrants the statement that investors will always do well in buying several of the low priced stocks early in the history of the organization of the company providing that the property is well located and the management all that could be desired the records of the salt lake stock and mining exchange show that if an investor had put into each of the utah stocks that sold on the exchange during the first week in january 1908 he could have sold out ln six months at an avera average gp profit of per cent and he need not have lost on one of the investments it seems as if the stock market were now in a similar condition and many of the local brokers express themselves as confident that the present is ia a favorable opportunity for investing in many many of the local stocks which seem to be selling at low prices |