Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1877-05-18
THE sHRINKAGE IN STOCKS.
Efzhty.seven and a half per Cent.
of the Whole Amount
Swallowed Up.

The Bulletin has lately had some
very instructive articles on the subject
of stocks. 1t has shown that there
was an unwarranted initiation in 1874,
Taking the down grade, the deprecia-
ton in the market value of the Com
stock lode since January, 1875, is some
thing astounding. With reference to
twenty-six OF the leading Comstock
claims comprised within the north
line Of the Utah and the south line of
Justice,
THE AGGREGATE DECLINE
In value amounts to S7H per cent, or
within 1917 per ceut. of the whole
amount. To show that this is no ex-
aggeration, we annex the totals for
twenty-six mines OIL the Comstock
lode as follows:
January, S27l 900, 900
May IL, 34,0O0,000
decrease. S231 .O00,000
The %shrinkage in these mines last
week was $4,000, 900. The same ratio
of decline would extinguish all value
within foul weeks. 1t is no wonder
that operators are alarmed, and are
casting about for a remedy to arrest a
further decline. There IS not a person
nor a business interest in the whole
State which has not been u~nfavorably
affected by the deteriorating process
which has been going on in stock val
ues for nearly two years and a hall.
4 Tho NnIx q M a, ,n1nftnt in tI. m ~ rp atiOn
arises from the fact that it has been
nearly thirty months in reaching its
present proportions. The shock has
at last been felt throughout the entire
body, from center to circumference.
There is this popularity about stock
operations: the manipulators are the
first to be benefited by initiation and
tie last to be affected by contraction.
These are the advantages they reap
from being nearest to the pole. 1t is
always
THE OUTER CIRCLE
Which first feels the plnching process.
In this circle are found all the small
buyers, who put in their surplus earn
ings as they would invest in a lottery
ticket, in the hopes of drawing a
prize. This class is quite numerous,
embracing laborers, mechanics, clerks,
and persons of small salaries among
the male population; and domestics,
sewing girls, shop girls, and the wives
of well-to-do husbands among the fe-
male element. From a casual obser-
walton, we judge that at least every
fifth person among the adults in San
Francisco has been an owner of min
ing stock within the past three years,
though at present the number Is
smaller than it has been at any time
during this interval. Many Of these
small buyers have long since lot their
stock 90 at what has been a heavy
loss to them. Others are still holding
on in hopes the tide will soon turn, so
as to enable them to save a little of the
wreck. After the small operators,
come parties with comparatively good
backing qualities. These are engaged
in the more lucrative pursuits OF bust
ness; but not onten with the slow
processes of commercial gains, have
been dabbling to a considerable ex-
tent in stocks. Some of these have
been.
BADLY CINCHED,
And it will take them years to recover
their losses. Others have hypothe-
Gated real estate and other property to
banks and other money lenders in the
hope they may tide over until they can
again find smooth sailing. The con-
tracing influence has at last reached
those who make it their exclusive bus
mess to buy and sell stocks for them
sol xvpS oS xyait &c ntharS ThaSn ura
now passing through the fiery fur
mace; and for some of them, espe-
cially those who are known to have
put up jobs on others, there is no very
great amount of sympathy expressed.
They are reapiug the just rewards of
their acts; and if they become hope
lessly involved, and have TO spend the
rest of their days in comparative penu-
ny, many will say it serves them right.
Stocks have lately been going into
strong hands-that is, into hands here
tOtore considered strong, though as
things have turned out, the accumu-
lated weight of their possessions has
weakened rather than strengthened
their position; and it is not altogether
certain but what some of those hereto
fore considered strong oaks will fall to
to the ground before the storm be past.
There is not an operator in stocks,
FROM A TO z,
But what has lost heavily during this
period of contraction. 1t is generally
supposed that Flood & O'Brien are the
heaviest owners of Comstock shares;
if that be so, they are the heavi.
est loses, though probably the best
able to bear their losses. The $3.50.
000, 900 shrinkage in mining values in
the last thirty months is a sum large
enough to give all operators a chance
to lose considerable. Every kind of
business throughout the city feels the
influence of the prevailing depression
on California street. 1t is seen in the
reduced clerical force OF brokers; in
lessened patronage of places of amuse-
ment and gilded saloons; in the re-
trenchment of household expenses and
the increased number of boarders at
the hotels and restaurants; in the re-
stricted business of dealers in fancy
articles; in the half-time system in
troduced, and in all of the ramifica-
tons of business and pleasure.