New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-06-28
{ Eastern
Situation Investment
Name n Nine

shamrock COLORADO. .......... IOV,p'O
siiSer ga Colorado .. 100000
Southern Neyada.--..... Nevada ...........- JOOOp
Standard California 5 55SSSS
Total............... .................. s7sS5,ooO
Concerning the stocks of some of these companies
there is a wide discrepancy between the statements
of officers of the companies and those oil careful OBJ
servers familiar with the stock markets. IL Is
claimed by friends of the company that over co.
900 shares of the stock of the Standard mine have
been sold for investment in this city. The original
subscription price was $40 share. At the Office OF
the Horn Silver Mine IT said recently that one
half of the stock was held by Eastern investors.
The stock of this company is divided into 100000
shares and the original subscription price was Sl0
a share. In making the estimates gwen
above, the smallest sums have been given
in all cases where there were disputed
statements. The Little PittsburR group OF
mines has been capitalized at S2O,OO0OOO. The
stock is divided into 1000 shares, and one-fourth
of the stock has been sold at 20 share ne com
many is now marketing the second 10000 shares at
S25 share. The high Capitalization Of tins mine
has elected much adverse criticism both here ana at
the West. Ii Is said that controlling interest III
the Little Pittsburg mine was sold recently toT
1915. 600 In forming the present company several
smaller mines have been united with the main prop
erty.
TALKS WITH EXCHANGE PRESIDENTS.
George b. Satterlee presidentOf the Mining Stock
Exchange said that the public interest in mining
enterprises had increased largely, particularly
within the last three months. The price OF seats IN
tbe Exchange had risen within that time several
hundred dollars but he did not regard the fact as
indubtabe proof of the increased interest taken in
mining industries. The price of seats was huctua-
ting continually according to the demand from
week to week, and the price one day was no guar
autee of what il might be on the following day.
He believed that a very large amount of Eastern
CAPITAL had been invested recently in bullion MINES.
He declined, however, 20 make any estimate oil the
amount.
Brayton Ives president of the Stock Exchange,
declared that he knew little about the details OF re-
cent investments except from general rumor; lie
was interested IN two mlncS-the Carbon, "A Colo
RADIO mine, and the Empire, which was situated IN
AmadOr County, California. OF these TWO cOmpa-
MES ne knew that about S22J,OOO had been sub
Scribcd al the East to the stock OF the Caribou, ANA
over $500 900 to that OF the Empire. OF other
mines he had no definite means of IN
formation, but it was his impression that
about 10000 shares of the Standard Mime
had been sold in this market for investment.
Mr. Ives said that among the governors OF the IN
change there was general sentiment that the Com
mIttee on Mining Securities should enforce the
most rigid rules 10 the value OF INNING proper
ties that sought admission 10 the list. ii We err
said Mr. Ives, E" 1t will be on the side OF severity
We will not permit any company 10 Hodt MS stock
on the fact that 1t has Deen admitted to the TX
change list
VIEWS OF MEN SKILLED ~ MINING AFFAIRS.
Richard L. Lounsbury, of Lounsbury n llaggin
who control the HOmestake and Ontario Mines, SAID
statements had been made in regard to
to mining stocks. lie was cOnldent
that Eastern investments did not exceed $1,000
GOO. Il was easy to talk fippantly of large sub
scriptious; il was another thing really to secure
them OF the Homestake Mine they had sold in
the East 10 900 shares of the stock at $50 share
and over 30 600 shares of the Ontario at the
-,Ia haI hpau m aIg in bip blocks
wealthy railroad men in the city. In both compa-
mics here were not three women, aud there were
no moor men, The firm had sold 10000 shares OF
the stock of the Standard Nine Inc transaction
had been wholly speculative. They found there
was TO be q :" deal III the stock. They bought at
90 and sold il again at about 30. Mr.. LOunsbuTy
lid not know who bought II, put was not certain
that il had not been bought back by the pool in
that stock He certainly did not credit the state
ment that CO. 900 shares of the stock had been sold
i'm this market. The price gave no indication that
the pool hdd succeeucu III uIsPOSlhs VI Ilio suoOh
Mr. iounsbury is vice-presdent Of the Homestake
and Ontario Mining Companies. lhe nrm repre-
seuts the San Francisco house OF Iiaggn PerlS OF
which one member IS the president and the other
the vice-prcsident of the Wells Fargo ~ Co. EX-
press. =,
yada Bank of san Francisco, SAID that II was I'M
possible to approach an exact calculation OF the
amount of Eastern capital that had been invested
lately IN mining properties. The recent invest
menis appeared To have been made largely by per-
snys living IN New-York. Most of the money re-
Gently invested had been laid out III mines III Colo
RADIO Utah and the Black Hills district The
hank of which he was the New York agent. devoted
attention exclusively to California companies,
and especially to Nevada MINES There had been
within few months more active inquiry for the
stocks of these mines. The business was transacted
wholly through the San Francisco Stock Exchange
The lack of transfer offices III tins city was serious
obstacle in dealing IN stocks between san Francisco
aud New-York AT present il required certainly
fourteen DAYS to secure the transfer OF California
stGcks Mr. Brander believed the demand 10 be
wholly speculative. He did no business IN margins
a customer deposited the full market value OF the
stocks he wished to buy; The order was sent AT
once to the bank at san Francisco. and the stock
was purchased at the Exchange. Use or tall in
pnce might result in a few DAYS IN the sale Of the
ltock Very little of the business resulted III per-
manent investment OF capital.
ESTIMATES OF AMOUNTS INVESTED.
II. b. Parsons, assistant secretary and agent OF
the Wells, Fargo IL Co. Express, estimated that
from $4,000, 900 TO Sl2,OOO,OOO of Eastern
capital had been invested within SIX months in
mining properties The estimate was, OF course,
largely coniectured there was no possibility of
ascertaning the exact amount. He felt confident,
however that even the larger estimate fell short of
the reality OF this sum he thought that the New
ENGLAND States had furnished a very large per-
centape The growing interest III mining enter
prlses appeared to be generally shared by all
classes of people. The investments that had been
made AT the East not wholly speculative. The
money had not been spent III gambling in Califor-
MIA mining stocks, but III regular and legitimate
terprises A small business indeed was done here
in the purchase margins of San Francisco stOc ks.
Tie FXuTess Company executed orders Of that
kind but the business was light. The investments
mad been made IN the genuine purchase of stocks
for permanent holding In some cases the original
capital had been returned III dividends. The stock
of the Ontario mine had been placed on
the market at $40 share. Dividends
amounting now 10 @22 share had been
naid nv the COMPANY, The stock of the HOmeStake
had been marketed at about the same price. Ii was
a new mine comparatively, having been opened
only five months but il had paid monthly dividends
of 80 cents share. The company was increasing