| Show THE STOCK DKAU Burnt children may dread the fire as the adage says but children of arer growth like to continue the torching California for the past fifteen or twenty years have bsen burning burn-ing themselves in the fire of the stock market but they dont dread the fire to day half as much ss they did before they had been burnt for now they are fairly plunging into the fliinss and it would seem to a disinterested on looker that they were trying to have themselves them-selves consumed The recklessness the insanity the almost criminality of dealing in IU n ing stocks as they are dealt in in S n Francisco wera never more forcibly illustrated than during the present boom A few weeks ago sOme of th shires which are today selling for f30 10 and even higher were a drug at a few cents It u not two months since Consolidated Virginia was considered a reckless buy at S 53 and on Monday men were wild in heir I desire to pay G5 for it It is nonsense to say that the boom is founded on discoveries dis-coveries of new ore bodies in the mines Only in one of the mines is it claimed that any considerable find has been made and as to the extent of that discovery dis-covery nobody pretends to know it may be large or it may be smallall I the outside buyers of the shares can do about it is to guess at the extent of the alleged ore body after guessing as to the existence of any such body With this solitary except on there is no reason why the stocks which ara being dealt in at prices which make the mints WOPth millions should be worth more than theywerti six weeks ago or last year Horn Silver or Crescent or Old Telegraph hare just as much right to advance in the market by reason of an I ore discovery in Consolidated Virginia as mefny of the stocks which are boom ing in time ban rancuco Exchanges Yesterdays transactions show that the boom is fictitious that it is based on no solid foundation the appearance of the mine having little or nothing to do with fixing the price of the stock On Monday people were eager to buy Consolidated Virginia at iC but on I Tuesday the price dropped to 35 Sews I from the mine did not bring about this I change what the mine contained was no better known on Monday when the shares were selling f or G3 than on Tuesday Tues-day when they brought only 35 there could have been no discovery or de relenmcnt in twentvfoar hour that I would have decreased the value of the I property one bali Other sock I which are no more connected with Consolidated I Con-solidated Virginia that the Emma is t with tht Ontario went down with the i leader and rallied with it I I By tits lIme people should understand under-stand that there is c deal on and J tlt somebody is in a fair way cf g Uiir uwf Jy burnt ard they should u wiuer aa that the manipulators of tbe deal are not likely to do anything to hurt themselves One of these fine days there will come the reckoning as it has come so many times in the past and when It has arrived and the books hare been squared the same old story will be repeated two or thne nun on the inside have cleaned up a mllicn or two and two or three thousand men and women have contributed their all to make these big fortunes None of the millions will T e taken from the mines indeed U e mines cut a very small figure in wh t is going on in San Francisco The reckless unwise daring men will give up the money that the operators are scheming to obtain and the mines or their names will be used again and again an means with which to gull and plunder the unwary TucHmuD Is glad that Utah people are not madly given to mining stock gambling The business Is bad through I and through It doe a country to good and brings suffering and misery I to all who indulge in it save the very few who work the act |
