Salt Lake Telegram | 1921-12-04 | Page 31 | Publicity and Stock Buying

Publicity and Stock Buying I By Ira C. C Tichenor Tichenor- i OME Ol IE of the brokers operating on the Salt Lake stock exchange 8 i 5 are inclined to criticise portions of the tho article entitled Publicity Publicity Pub Pub- c Is Most Essential and which appeared in this c column last Monday They declare that they are merely the tho representatives of the mining companies and that the operating concerns should v the means of publicity This is true only to a certain extent and is restricted to companies com corn that are promoting ne new or reorganized projects or those which plan the sale of bonds or treasury stock for the purpose of f acquiring capital for more extensive development operations s. s Naturally such companies should create a demand for their bond bondor bondor bondor or or stock issues b by acquainting the bu buying ing public by a judicious campaign of advertising with wih the present or prospective value of such issues f fV V This is the plan often adopted by big manufacturing concerns ui to o create a demand for a new or special line lie of goods but in in the case case of staple articles or the special ones for which a market has las as been created by the manufacturers must retain the interest of the public by advertising at their own expense A Tho The same rule would apply to the stock issues of producing mining companies and those prospect concerns which have disposed of the greater portion porton of their treasury holdings and depend to a greater or less les extent upon assessments as a means of raising necessary necessary capital for operating expenses In respect to such stocks the broker is in the position of th the merchant who must keep the public interested in order to sustain the market for products which no longer are advertised by the manufacturers or jobbers j The attention of the brokers of Salt Sal Lake is f called caled to the experience of the mining exchanges of Denver Colorado Colorado Colo Cob rado Springs and Kansas City among other cities which hav have been clos closed d because of a cessation of patronage due in a great measure to the fact that mining companies and brokers ceased to advertise and depended upon the continuation of the interest previously created in stock operations Similar conditions exist in Bait in-Bait al Lake at at atthe the present time and it i. i would seem that the action acton of the exchanges in the cities mentioned mentioned men men- honed in closing their doors should be a sufficient warning as to what hat may happen in this city unless the mining interests and the brokers backed Iby by the exchange itself get together and conduct 0 illiberal and consistent campaign bf advertising and publicity b j It I is a fact that the Salt Lake Commercial club cub and chamber x f f commerce is doing more for the mining interests of the the state jand for the local brokers than either And broker are doing for themselves I j With these interests and the stock exchange cooperating with wih the tid Commercial club not only could the mining industry of Utah be materially promoted but the business of the local stock exchange and ad the operating brokers be e increased to its is former proportions