Carson daily appeal. [volume] (Carson City, Nev.) 1873-1877, 1873-08-19
CONCERNING STOCKS.

the street, and they don't send IN orders
that amount to anything. The brokers
are left alone IN their glory. and in self
defense are compelled to sail III on their
own hook-take iirt il jacket, buy E
few hundred Curry. short 4 little Beleher
or take in q little Point for a rise. And
which ever way they happen TO turn
whether they ''short'' or ''long''-it's all
the same at the end of the week. They
make hundred dollars on one thing
and loose a couple of hundred on an
other, which the same it must be con-
:essed is not very pleasant.
THE BIG BRoKEEs-
We mean financially, not in stature
take things pretty cooly-philosophi-
caliy, in fact Il is the smaller brokers,
who depend exclusively upon commits
sions, who feel the dullness of the mar
ket. 1t will be remembered that there is
quite small army of people connected
with the stock business. There are
eighty big brokers connected with the
big Board an equal number connected
with the small Board;
ONE HUNDRED AND SIXTY H1GE-ToNED
BROKERS.
Nearly all these one hunGredand sixty
are high-roned. Brokers generally are
heightened, and smoke two-bit cigars
and take two-bit drinks. 1t requires
considerable cash to maintain these
brokers and their families. Then the
expenses are heavy. Clerks and book
keepers. porters and errand-boys. stock
lists, abstracts, rents-and when the
month runs round, the expense account
figures up alar1ninglv. Every broker
hasn't got al Office. TIE small Board
brokers Go g great deal of business, on
the curb. It saves expense. In such
dull times as the present the brokers
have nothing much to think about. An
occasional failure among their number
relieves the monotony. When stocks
are buoyant, when the sidewalks are
crowded with eager stock gamblers, then
the brokers feel happy.
WHAT has COME OVER THE CosIsToCK,
That Belcher, the king-pin. should be
selling at S62 per share? And what will
become of things generally ifthere should
he a petering out in the lower levels. |
Nobody that would be inclined to tell
knows anything about the real cause of
the decline in Belcher stock. Sharon is
q sphinx on matters connected with his |
mines. He is not as liberal with his
..dvices to buy as some of the other large
operators. He doubtless consultS with
his Lieutenant, Bob Morrow, and
makes som confidence NIT dis shentel-
mans, but nobody else gets much salts
faction out of Sharon or stocks. There
are of course thousand and one rIlmors
20 account for the decline in Belcher. |
We haven't the least idea which theory |
IS true. One is that King Sharon is
smashing Belcher to buy it lower; that |
IS the old story, and is always cited TO
account for a decline. Another theory
IS that the ore is gradually going out
pinching; that the constant drain of 500 |
tons per day has made o very big hole |
IN the ground. Another story is that |
necessary repairs, failure Of water, etc.,
viii decrease the August and September
returns. and prevent the usual dividend
for these months. There are other sto-
ries-and hardly worth repeating. Our
stock readers can take whichever theory
they please. One thing is sure, Belcher
is very sick-selling for S62. There is
no use railing at Savage because it sells
1t $50, after having levied $40 in assess
lnents during the year, when Belcher,
after paying about $40 in dividends dur
ing the year, sells at S62.
MINING sTocKs DEFINED.
Stocks ere singular institutions-very
singular. They never act reasonably.
They sell for more than they are worth,
or they sell for one-Cuarter of their
value. There is no guage by which they
can be measured as to worth; there is 10
standard to approximate to what they
ought to fetch in the market. They go
up to-day without cause; they go down
1t tie merest blush of suspicion. No
operator, however shrewd and observing,
unless he happens to be on the inside,
need expect to make money in the long
rCC.
OPERATIONS N YELLOW JACKET
There was a respectable little fiirt in
JACKIE. during the week. Jacket is q
iayorite and sensitive stock. Operators
all have faith in Jacket. 1t has cost
some of them great deal OF money and ,
they propose to get even on it or burst
in the attempt. The operators generally
have an IDEA that there is big body or
chimney of pay ore in jacket, and that
Dne of these mornings King Sharon, ,
.ho rules Jackets destinies. Will I'M
over, and then Jacket viii go up.
Jacket turns out an amazing quantity of i,
well mixed) low grade ores, whenever I