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Show II The Market and The Mines I The new smelting plants at Tintlc and Bing ham Junction will start, Goodwin's is reliably informedwhen in-formedwhen they start. This is a little indefinite. indefi-nite. Local publications have been trying to start the smelters ever since the first of April. It was a noble and public spirited undertaking and failed only because of lack of cooperation on the part of those who have had in hand tho ordinary ordi-nary drudgery of smelter building. The artisans imagine that there is work in the mechanical construction con-struction of the plants, whereas the truth is thatv enough energy has been expanded by the newspapers news-papers from week to week in explaining and excusing ex-cusing tho falluro of the builders to make good to build a whole flock of smelters. In justice to themselves the reporters should throw up the job and let the responsibility rest on those who are paid to bear it. tJV V l Between the hot spell and the delay in blowing blow-ing in the ore bakeries the patrons of the mining stock exchange have lost some of the enthusiasm that characterized their operations in June. Interest In-terest in the market is keen, for there is a feeling that some great doings will be witnessed before snow flies, but at the present moment the men with cosh are disposed to witness the effect of smelter opening before involving themselves In larger commitments. The influence of enlarged treatment facilities upon the Tintic stocks ha3 been discounted and rediscounted so often that the mere firing of the furnaces is not likely to cause a ripple on the "surface of the exchange. Seekers about "dope" will scan the reports of mine outputs and smelter settlements and this data will probably furnish the impetus for the next big price movement. w v O Some apprehension is expressed by brokers at the rapid growth of the exchange stock list. Hitherto a place on tho list has been a recommendation, recom-mendation, if not a guarantee of merit. A large majority of the shares so entered have been those of producing properties. Most of the new arrivals ar-rivals are prospects and some of them are very uncertain prospects. It is pointed out that the addition of such material to the list will rob tho roll of some of its prestige, increase the labor of managing the exchange and greatly enlarge the field over which the brokerage firms will be compelled to keep a watchful eye. A few of these objections are embodid in a letter written by Harry Joseph to the listing committee this . week. It commences: "There has been a matter mat-ter come to my observation within the last few days which I believe bears investigation by your body." Harry's syntax is as mixed as his views on property tax, but the letter makes it clear that, in his opinion, the listing privilege should not be granted to companies that have not, at the least, one patented and developed claim. The listing committee overruled the protest and, 10 doubtless, complied with the wishes of a majority of exchange members in doing so. But Mr. Joseph Jo-seph need not be discouraged. If he keeps out of the legislature his syntax may recover its pres-tine pres-tine purity and his opinions are endorsed by a large and influential minority of the broken men. & & & It would be neither fair nor politic to reject applicants for listing merely because they are non-producers. Mines that have never been prospects pros-pects are almost as rare as men who have never been boys and the chief purpose in listing a prospect pros-pect is to hasten its development into a mine by faciiitating the sale of the stock. A less drastic remedy and one that will overcome the most important im-portant objection to the admission of so many prospects, is the classification of the listed stocks as prospects and mines. In Utah we are very careless in the use of these words. In common usage they are employed interchangeably, whereas where-as the distinction between them is very wide and should be religiously observed. An improvement in this respect will hardly come until the exchange ex-change sets the example. & & & Congratulations to Col. Wall. He has finally succeeded in gaining attention. He got the rise from C. M. MacNeill, president of the Utah Cop-, Cop-, per company. President MacNelll's answer is a sweet and generous boon to Col. Wall. It gives him the recognition he seeks and furnishes him texts for future fulminations. But there is one paragraph in MacNeill's answer which Col. Wall would, probably, have blue penciled had he been asked to edit it before publication. Here it is: "His interest in the 'public' indicates a philanthropic philan-thropic spirit which did not appear until after he had sold out." That sentence is deserving of a high place in the literature of controversy. Most successful business men are dubs at the blunt end of a pen, but MacNeill is an exception. He could not have given this thrust more neatly if he had been a $15-a-week reporter. 5 W w Hope will not die utterly in the heart of the most unfortunate stockholder in the most insolvent insol-vent prospect while Jesse Haroun-al-Raschid Knight goes about quietly distributing relief to those who are worthy of it. Members of the Down-and-Out society in Tintic, American Fork, Park City and Alta have seen their anaemic projects take up their beds and walk at the com-mand com-mand of the Provo wizard. He is regarded as a sort of Santa Claus. It is said that the Emma Copper company of Alta, having seen Santa Knight go down the chimney of the Old Emma company, has made its mantelpiece look like the clothes line of an orphan asylum on wash day. tJw In the meantime, though, Mr. Knight finds tha hosiery of his own official family demanding at tention. According to the financial statement for July the Uintah Treasure Hill Coalition company has only $415.95 and 8,500 shares of stock in the treasury and the pay ore shoot (comparatively speaking) twenty miles away. The showing indicates in-dicates that a block of Uintah stock will soon be on the market and that Mr, Knight's September Septem-ber report may show an overdraft to the discredit dis-credit of this particular company. |