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Show STOCKS-POLITICS TI1K COLLAPSE. COL-LAPSE. Special Correaponaonco dF the Herald, San Francisco, May 16, '72. Editors Herald: It is almost impossible to talk to any ono here upon any topio for a space of five minutes without introducing intro-ducing tho subject of stocks. Stocks enter into everything past, present and to come. If a man dies the first thing looked after by his executors or administrators ad-ministrators in connection with his estate, es-tate, is to ascertain whether among his effects there arc to be found any certificates certifi-cates of shares in mines. The women are as much excited as the men. Formerly For-merly the first idea that flitted through the maternal brain when surveying for tho first time the lineaments of her latest male contribution to the world's population, was that her darling would in the course of human events become president of the United States; but now that never-to-be forgotten and first idea is totally oblivious of the presidency, and the summit of her ambition and hope with reference to her boy is that he may become a Sharon, Sha-ron, Jones or Hayward and be a king on the stock esohange and possessed of a controlling interest in Cr wn Point mines or their counterparts, THE CAUSE OP TIIE EXCITEMENT And the wonderful advance in tho price of mining stocks was due partly to the rich discoveries on two claims of the Comstock, the Crown Point and Belcher, partly to sympathy, and partly part-ly to politics, Of the two first causes of the advance I have before written you, and will now succinctly detail the phase of this crazy speculation. The senatorial fight between Sharon and Jones is mainly the cause of this enormous enor-mous appreciation in the prices of the ; non-dividend paying mines on the Com-! Com-! stock, and the bitterness of this fight is evidenced as well by the recklessness with which these two men and their friends invest money to win respectively, respect-ively, as by the horrible inuendos with . which they mutually endeavor to ruin iho hardly spoilable reputations of each other. The result of this strife for the senatorship is supposed to de pend upon the vote or Story county, the vote of this county depends upon the ballots of the 3,000 members of the miners union, and the ballots of these men depend upon the ownership of the mines in which they delve. For in-stance,the in-stance,the Savage mine (non dividend, although it has recently sold at the rate of $12,000 per foot) employs say 500 men. If Sharon oontrols this mine, these 500 men aro expected to vote the Sharon ticket at the primary election, and if Jones, it is considered a matter of course that they will vote the Jones ticket, so you will understand under-stand why "each of these gentlemen is striving so strenuously to obtain the control of all the mines employing a large number of men. This was and is the programme of operations with reference ref-erence to the primary elections, and it is the proper plan of operation notwithstanding not-withstanding that it implies that the members of that highly independent association of whito and free-born American citizens called the miners union, are politically automatons whose suffrages are sold with the stocks of the mines at which they delve. It is not improbable that Sharon andJones, will overdo the thing and that some third party will step in, and out ofi iheir violent antagonism pluck the prize. The friends of senator Nye are beginning to dally with the hope of his re-election. It is said that some of them telegraphed to him the situation situa-tion between Sharon and Jones, and that ho significantly replied that "lie I be d d if ever he set a mine on fire or made a panic in stocks.'1 THE COLLAPSE Has been very heavy and hard on many people of moderate means who have invested their savings back's de posits in margins which a day's decline de-cline in prices has swept away from them. These margin people are always al-ways greedy and do not deserve sympathy sym-pathy except those who are ignorant oi tho situation, and have been inveilcd into an investment by the sharps who have dragged tho city for victims. The old stagers of the street, relics of a hundred collapses, take their reverses cooly, while a few scantily fledged interlopers wear ci ape on their countenances counten-ances and mentally and voeaiiy and with objurgatory emphasis consign their souls to perdition. I saw one son of Israel who with abnormally outcropping outcrop-ping eyes was bewailing his immolation . under the Savage tumble. Said be "Mein Gott! I wi-h I never &ee dati Savage; I tooner pe in h 1 before:' , mein hair turn gray every second; I goes tr own niineself!!" Whether he went and thusi watered his stock, this deponent saith not. Yours, I Wasatch. |
