Show fictitious quotations in a recent article on the subject of mining S tock stock elchan exchanges th the e M mining in ing rev review ie w pointed out the evil effects of wash sales and the injury threatening Z any exchange where such practices were permitted in fact the statement was made that such methods to stimulate trading tra diny 11 were misleading and were but little short of robbery and that if it became generally known that such laundry work was being carried on that the death knell of the exchange k allowing and winking at such business like and dishonest methods would soon be heard the article alluded to seemingly found a responsive chord in the breasts of many who make investments in mining securities and not a few of these the se have indicated their appreciation and approval of the stand taken taken by the mining t review on this question another phase of stock manipulation has presented itself to the review of late and this is as inimical to the best interests of dealers in mining stocks and to the mining industry of the state and of the west as is the pernicious practice of making wash sales and this is the making oi of fictitious quotations the attention of the mining review has been called to this underhanded method adopted by some to deceive their patrons by an eastern subscriber who has submitted to us indisputable proof that there are those in this city who are fur furnishing fictitious quotations to prospective buyers evidently w with ith the view of selling e practically worthless and comparatively unknown mining milling stocks and this under the cloak of the official quotations actions being sent out daily by the stock exchange of this city the subscriber in question has furnished us with copies of weekly market letters issued and published by certain mining brokers in this city in these letters are given the ClO closing sillo quotations of utah I 1 mining stocks 91 these quotations ostensibly convey conveying ino the impression that they are taken from the 0 official sheet issued by the stock exchange d do 0 in in reality give the correct quotations on the stocks listed on the board of the exchange but the deception comes in when stocks not listed on the exchange are included in the quotations giving the closing bid and a asking price when in fact they are are not listed and have not even been called that such quotations are fictitious and untrue there can be no doubt or if made at all they found birth in in the office of the broker having the stock for f or sale but cannot be based on b bonafide fide tr transactions ansac Aio ngor or sales in looking over the market letter espe especially cl referred to we find listed among the regular stocks called on the floor of the stock exchange the names of mystic shrine ophir gold cold and queen of sheba sheb a stocks none of which are ever called on the exchange exchange and are not listed and each of these sto stocks acks are accredited with bidding and asking quotations all three of the properties named are located in bin bingham allam they may be promising prospects as the he t quotations given would at least indicate as on may ath the tl lett masti shrine at 1 cents bid bot and andi asked there being such cents a small f difference beaw en buyer and seller truly a wonder that they did thai it and sales recorded on april not get ett her ath stock is thelara the 1 6 banle sara quoted at cents bid and asked so that it will be seen that the 15 S cents has scored an advance which should stock please eastern buyers greatly or who are probably vT tt heaviest purchasers e of this stock market letter in question evidently hast as th little circulation in this section where T peo generally T ene rally know a good thing when r they sebit see or when it is presented to their notice other market letter quotes grand gulch and n silver shield neither of which are regularly listed on the exchange scattered broadcast over the middle and atlantic states where but little is really known of mining affairs it is we say it with regret easy to confuse and mislead intended stock buyers as to the value stands standing and prominence of mining properties andt and hose receiving market letters as above described are unable to detect in the list the stocks which are actually listed on the stock exchange Z from those which are not the result being that they are often deceived and throw their money away on propositions which people out here knowing 0 conditions and values would not take as a gift the issuance of such literature therefore in our opinion 13 is nothing more than a deliberate intent to deceive and should be prohibited by the postal authorities wash sales if practiced means the ultimate downfall of any exchange where they are coun countenanced ced and the giving out of fictitious quotations although 0 the act is unknown to the em exchange change is equally as dangerous to its welfare and when brought to the notice of the governing board should be as promptly acted upon a and nd suppressed as if primul promulgated gated in the pi pit t it is the duty of the exchange to look into this matter not alone for the protection of the board but also for the protection of those who make investments in stocks the mining minina review is in correspondence t with eastern dealers and individuals and hopes to be able at no distant date to publish W froid letters and other documents emanating don W brokers in this city who are evidently business on a basis which would be viewed 33 being far from square in any aly commune et 00 and it is the intention of this paper to transaction transact iOD the head any mine or stock transact i coming to its knowledge which bears up and any sign 11 or semblance of dishonesty trickery |