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Show The Market and the Mines "Did you see it?" Adolph from Hamburg never wore a more bewitching be-witching smile than those that were to be seen around the Salt Lake Mining Exchange last Friday, Fri-day, when, for the first time, the leading stocks of Tonopah, Goldfield, Bullfrog and Manhattan were personally introduced to the Utah public. Thirty-eight Thirty-eight Nevada shares had been placed on the list, twelve from Tonopah, fifteen from Goldfield, five from Bullfrog and six from Manhattan. This, the i first definite movement to make Salt Lake City an interstate stock market, cannot be regarded as other than an epoch in our commercial history. It will not do, however, for the merchants who want to profit from closer relations with the gold fields to let the Nevada stocks carry themselves. The-brokers The-brokers have done their part and more. It is now up to the business men to do some pushing. A few hundred dollars invested in stocks at this time will be bread cast on the waters and will be returned re-turned a hundred fold. It doesn't matter whether the stocks go up or down. Tho point is that the gold miners must be taught to look upon Salt Lake as a good market for legitimate mining shares. Purchasers of Nevada stocks should remember that stock in prospects Is not to be judged by the same rigid rules that apply to developed mines. The chances of loss and also the chances of gain are greater. In other words luck is a more important im-portant factor than judgment. The one precau- !tion that should be emphasized to pay no more for a stock than others pay. Vherein lies the wisdom of buying through an exchange. "Wildcats" "Wild-cats" are sometimes so kind and gentle that they will eat out of your hand, but it Is a safe rule for one who has not learned how to manage them to leave them alone. & & At the first call under the new order there were dealings in Montgomery Mountain, North Star, Mohawk and Manhattan Gold King. Later in the week Bullfrog National Bank, St. Ives, Ohio Tonopah and McNamara figured in the returns Local people are taking to the new arrivals as to old friends and there is every indication that in a few weeks the Nevada quotations will be as oagorly scanned as those of the old "Utah favorites. favor-ites. Already Mohawk has advanced nearly 18 cents. Bearish influences prevailed at the beginning of the week. The shorts went after New York, May Day and Silver King with more than ordinary ordi-nary vehemence and considerable success. The big Park City share established a new low record for itself when it sold down to ?28. The answer . to the complaint in the McGregor suit has been filed, and, in addition, President Thomas Kearns has given out an interview on the subject. He says, with engaging frankness that the Silver King has not taken any ore from Mr. McGregor's ground and If they have the vein rightfully belongs be-longs to the Silver King and if it does not belong to the Silver King it was not valuable enough to pay for the cost of extraction. The success of the bears at some points was largely offset by the remarkable strength of Little Lit-tle Bell. It is hard to realize that this young bonanza bo-nanza has actually outstripped Daly-Judge and is now selling for better than ?12 a share. The rise is readily accounted for by the positive demonstration demon-stration that the fine ore body opened in the contact con-tact by the drift on the 700 level maintains Its rich character for a thousand feet. This proof was afforded by the work on the 300 level which has disclosed the extension of the fissure, 14 feet wide and highly mineralized. The management of the property is waiting for better roads in order or-der to get rid of the accumulation of ore which is now becoming a serious annoyance. & A loss of nearly 10 cents in the price of New York is difficult to explain except on the theory of Inside information or manipulation. It is true that work has been discontinued In the winze below be-low the 700 level, but there is every assurance that the vein has not been exhausted and will be more productive than ever when tapped by the crosscut from the 800 level. It is perfectly obvious ob-vious that mining" from a winze is ar unprofitable amusement when overhead stoplng is practicable. Both for publication and as an evidence of good faith the company marketed a 50-ton lot of ore this week and is taking out more. If another assessment as-sessment is in contemplation the secret has been well kept. & & & It was expected that. Columbus Con. would have cheerful tidings for Its admirers for this week's issue, but the expected developments have not materialized. President Jacobson is known, however, as a materializing medium and the firmness firm-ness of the stock indicates no lack of confidence in his ability to bring in the ore body on the new level within a reasonable time. tje & & The Wabash pool, which was formed a short time ago to protect stockholders during a particularly partic-ularly arduous campaign of development, has gone dry. The declination of a small minority of the stockholders to get in the swim, upset the whole plan and the directors at a meeting held this week gave everyone permission to sell whenever he wants to. The share is still holding its own in H the market, being qouted at $1.25. May Day, which jH had a considerable rise in the early part of the jH week, was shorted so fiercely that it retreated to i jH its opening price of 23 cents. The mine Is doing jH very well. Six cars of ore were marketed last ;H week and there is said to be mineral enough in , sight to keep up this output for at least two H months, Yankee Con. directors have decided to ,H pass out 2 cents a share to the stockholders. The H plan for building a mill has been laid on the table ;H for the present and the dividend is the result. The new compressor plant will be put up at Homans- ;H ville, two miles from the mine, and the com- pressed air transmitted by a pipe line this on -H the theory that it is cheaper to pipe air than to l"H haul coal in wagons. jfl Changes in the leading stocks for the week ending Wednesday afternoon are as follows; Thompson from 27 to 37 New York from 35 to 26;; Lower Mammoth from 40 to 38; Little fl Bell from $10.37 to $12.37; Columbus from H to $7.10, and Daly-Judge from $11.30 to $11.87, The week's business amounted to 278,945 share at $1G9,325.35. Ore and bullion settlements for the same period were heavier than for weeks past $532,700. 5 Jm Looking beyond the local field conditions seem to be on the mend. The Boston copper mar- ket is able to take a little nourishment and the jH popularity of the Nevada stocks in New York is exciting widespread comment in financial circles. .flB This business Is now taken so seriously that trad- !bH ing is to be confined to tho exchange and prohlb- 'M ited on the curb. . l |
