| OCR Text |
Show STOCK JOBBING ON GOLDFIELD. lit must certainly bo conceded that Governor Sparks of Nevada makes a strong presentation of his enso respecting respect-ing matters at Goldtieki, in reply to the intemporato scolding which President Presi-dent Kooscvolt administered to him. Wo do not understand how it is that the President can assume so much more knowledge of tho situation thero than is possessed by Governor Sparks and by the Congressional delegation from Nevada, Ne-vada, which joined with the Governor unanimously, in his representation to tho President of tho threatening situation, situ-ation, upon which the troops wero ordered or-dered to Goldlicld. Wo do not, however, how-ever, supposo that President Kooscvclt will now revoke his order withdrawing withdraw-ing the troops, bocnuso having expressed his utter lack of confideuce iu the representations rep-resentations mado by Governor Sparks and by tho Senators and Representative Representa-tive from Nevada, ho would hardly pay any attoution to this now statcmcut by Governor Sparks. In tho mcantimo there is a phase of tho situation which is highly significant but which has not received nny public attention so far as we. arc aware; and that is the stock-jobbing phase of it. Prior to tho time that President Kooscvolt Koosc-volt ordcrod tho troops to Goldiicld, mining stocks there -wore drooping, and at a minimum market price. W.hcn hjs order was issued for troops to go to Goldfield, stocks begun' to look up. After the troops arrived, stocks look on a decidedly strong tone; Goldlield Consolidated 's gain being nearly a dollar dol-lar a share; and there was a "boom" in many others of tho numerous mining companies there. Upon the publication of his order withdrawing tho troops, all stocks began to recede, Goldfield Consolidated, Con-solidated, for instance, immediately losing nearly all of the gain that it had made. Now, tho Goldfield Consolidated Mining Min-ing company has an issue of 11,500,000 shapes distributed among its stockholders. stockhold-ers. Tho gain of a dollar a share upon this slock issue is a tromendous sum. The sudden loss of that dollar a share represents another tremendous sum. But any matter so powerfully affecting affect-ing the stock market must inuro to the benefit ot somebody. The dealers arc alert and get "inside information" of coming events, oven beforo they come. Whoever hud even a few hours' notice of the coming orders, first of the order or-der to send tho troops to Nevada, and then of the order to withdraw thorn, must havo been iu a position to make large sums of money. It is hardh- to be supposed that this opportunity was neglected by the stock jobbers. Somebody Some-body must have made a lot of money on tho bull side when tho order sending the troops there was about to be issued. On tho other hand, somebody, no doubt, made a largo sum of money on the bear sido on tho advance information that tho order withdrawing tho troops was about to bo issued It is idle to pretend that an opportunity of this kind would not be taken advantage of by. somebody: some-body: tho question is not whether it was taken advantage of, but who look that advantage? Without any doubt, very large sums of money were mado in slock-jobbing in shares of Goldfield mining stocks, ou account of these orders. Wo no.ticc that Senator Nixon of Nevada Ne-vada is reported, by tho Boston News Bureau, to have turned over the control of the Goldfield Consolidated company to interests represented by Baruey Baruch. The Boston News Bureau, in giving this information, sn3's that the company claims to have $35,000,000 iu net values in ore in sight. Aud it -ncs on to recite that Charles M. Schwab is no longer a stockholder in the company, aud to givo the diffcront quotations of tho Goldfield Consolidated stock at different dif-ferent times. What significance there is in this transfer as relates to tho President's Pres-ident's orders sending and withdrawing the troops wo aro not informed, aud nothing has been made public with regard re-gard to it, so far as we know. But the rftriking feature of it all is tjiat there has undoubtedly been largo sums of money made in stock-jobbing, through these orders of tho President. The question is, Who mado it? |
