| Show COLORADO SPRINGS EXCHANGE I How Business is Conducted in This Colorado Mining Center I Hon John Dern president and manager man-ager of the Mercur and GeyserMarion j j mining companies returned home yesterday I yes-terday from Denver and Colorado i Spring at which points his journey I was delayed and terminated when ont on-t his way to Hot Springs Ark to j which place he was going for the purpose j pur-pose of conferring with the classification classifica-tion committee of the General Freight association in reference to a reduction on freight charges on cyanide shipments ship-ments as previously mentioned in these columns I Upon his arrival in Denver and upon consulting the time cards Mr Dern I found that he could not reach Hot I Springs in time to confer with the committee I I com-mittee He therefore notified some of the leading mining companies of Utah I of his inability to attend and requested i them to telegraph the committee in I relation to their wants and desires in the premises which was done by the Mercur company Captain Dt Lamar ur the Golden Gate the GeyserMarion and one or two companies using the cyanide process in the reduction of their ores oresMr Mr Dern also met with quite a number num-ber of Colorado mining men and mine owners to whom the object of his visit was made known the result being that I the wires between Denver Colorado Springs and Hot Springs were kept hot and telegram upon telegram poured in upon the committee urging it to make the desired reduction in shipping rates and while no decision has been arrived at yet by the committee and probably I will not for some time to come Mr Dern believes that the time and work I will not be misspent in the end While in Colorado Springs Mr Dern visited the stock exchange of that I place and he states that he was very favorably impressed with the methods I which characterized the dealings on that board In speaking of this exchange Mr 1 Dern stated that there were about 100 charter members in the association the tle seats in the exchange being worth I about SOO each Besides this there were quite a number of associate members mem-bers who are not allowed to deal on the floor but who are charged only half of the regular commission on orders or-ders filled by the brokers or active members Another feature that pleased Mr Dern was that no curbing is allowed 1 al-lowed among the members of the exchange I ex-change and all transactions must be made in the pit of the exchange while I all sales must pass through the exchange i ex-change clearing house thus assuring I fair dealings and making it leI le-i to effect wash sales Still another feature fea-ture is the prohibition placed on the division of commissions between the brokers or the remission of commissions commis-sions on the part of the broker to his customers These rules are very rigid but their infraction leads to the immediate suspension I sus-pension and even expulsion of the offending II I of-fending member the result being that j business on the Colorado mining exchange ex-change is carried 1 on the square and there is but little opportunity given to monkey with the market Already according to Mr Dern several sev-eral members of the exchange have been expelled for splitting commissions 1 and these members in disgrace cannot 1 be reinstated neither can they form a partnership with any member of the board in good standing j During his absence Mr Dern had an invitation to visit the great Portland mine at Cripple Creek a courtesy ex i tended to but few mining men but on i i account of a press of business and the i necessity of getting home as soon as j possible Mr Dern was compelled to j decline the opportunity of inspecting I j this magnificent gold inspectng which Colorado as well as the entire entre west is justly proud Mr Dern expresses himself as hay ing had a very pleasant trip although the weather was stormy nearly all the time he was absent from home |
