OCR Text |
Show STOCK BOOM ON I THE Lffln CUE I Iron Blossom Strike Starts the I Fireworks on Monday in ! Earnest. Ill FORTUNE IS SPENT j FOR MINING STOCKS I , Remarkable Scenes in Pit Dur-I; Dur-I; nig Several Hours of Stock I ; Dealing. XS Those who had anticipated that the IB strike in the Iron Blossom property at I Tintic would precipitate a boom on the II Salt Lake Stock and Miniacr Exchange 1 Monday morning, were not. disap-M disap-M pointed. In the memory of tho oldest B inembor of the exchanco thcro never If t had occurred such an avalanche of buy-u buy-u incr orders, the' being for all Tintic II Ftocks within tlio interest zone that j! may bo affected by the new discovery. 11 Thero was ono ilisnppoinlmcnt during iff tho early trading, and that was tho If Sioux Consolidated. 35 If any property was benefited out-S out-S side of "tho Iron Blossom by tho Iron gm Blossom striko it was the Sioux, yet cjj the stock sold down yosterdJO". con-fjj con-fjj trary to expectations. Tho now striko I apparently establishes tho fact that, tho If ( olorado-Sioux oro body extends ID throughout the Sioux for 700 feet along Iff rhe strike of tho same, tho Sioux to IS dnto having demonstrated tho exist-Wo exist-Wo once of the oro for "2S0 feet. It was Ira logical, therefore, to expect that thii Iflj added distance on the Sioux would Im) convince its stockholders of the wis-lljj wis-lljj dom of at least freezing fast to thoir Iw holdings. But it seems that Sioux was wfl fold by owners who desired to put the IB niouev into Lrou Blossom. In Iron Blossom was tho center of at U traction, and the lobby was lilleil with jn representative citizens bent on sccur-mm sccur-mm inir their share of the stock or amuse-PI amuse-PI ment. Tho stock rolled off at $3.10 per M share, and bv rapid strides struck 3.25, Kj then fell back to $3. 1 TVs bid, when the Eg morning session, over an hour delayed, n was brought to a halt. Previous to Ml coming to Iron Blossom, Tintic stocks IW such as Bullock, East Crown Point, fl JCast Tintic Consolidated and others mm were booming at higher levels; then mm came the slump in Sioux, and the boom HH in South Iron Blossom, the latter prop-Jill prop-Jill ertv being drawn iuln tho spotlight by mU irtuc of the Iron Blossom discovery, Wa as predicted in these columns Sunday Vffl morning. Over -15,000 shares of South Bffl Iron Blossom sold duriifg tho regular morning call, and close after camo the lH Tintic Central, with sales amounting to Hi ."3.000 shares. In It is interesting to note in this con-fit con-fit n&ction the system of promotion that Km has bceh the rule in Tintic. for a year fil or more past. First the Beck Tunnel Wu found the ore. and the Colorado was IN heir apparent. When the Colorado WA came inio its own. the Sioux became Ik tho heir. When the Sioux came into IB its own. the Iron Blossom stepped up Hi a notch and posed as the heir. Now H tli.it the Iron Blossom has reached mall ma-ll turitj' apparcntlv. the Tintic Central n is the heir apparent, which honor it, is 0 to share with I ho South Iron Blossom. Itg Ilow far this series of steps will go re-mm re-mm mains to be seen, but no one now III should have the courage to doubt that WM the ore body extends far south when H the majority of people were surprised CD that the Sioux got it, and so much more IB astonished when the Iron Blossom mm showed its heels to the shorts. And, Ira by the way. there has been some squeezing of the shorts during the past Ih few da vs. fig The .excitement yesterday in the pit 1H was intense. Brokers howled and M fought to fill (heir orders, the curfew Sffi whistle even would not have been IN heard had it been turned loose- in the fitfj room. Only once during the day did Vm the excitement cease, and that was JRI when several square yards of Iho ceil-jfajj ceil-jfajj ing broke and dropped several hundred IPS pounds of plaster on the heads of the I'll audience. The discovery that no one jnlj was hurt, but that, many hats had fflfl paid the penalty of their owners' pres-lu pres-lu ence in the" room, cave an opening for M ? moment's good laugh, then the bnsi- gness went on again. There was an bundance of i-vcile-ment left over for tho afternoon session, ses-sion, but prices wero whittled down matVrialb', nil the boomers going down the scale. Metal Market. Tile metal quotations for Monday, posted by McCornick ,fc Co.. were as follows: fol-lows: Sliver, filic; lead, $1.10; cooper, 13 1-lGe. |