Weekly Arizona citizen., 1880-09-04


 NEW YoEK, September - Q S''''S of mining stocks upop 'hs exchanges during the past Wcek cnding on me os,h aggrerqted 7l0 BIG shAre'. o' "n .ve,,re of IIs.Sg4 sb2res pr daF- To-day tue safes were sso)J shares The market has rulcd -trna$, "5ii there ran no longer be any doubt that the long expected reylval las come. The ce,eral list uas touched i.S lowest noint snd it is aow simply a question how high stocks will g..
 There has been considerable snarl- Ing among certain class m New York over what aiey have been pleased 10 term the CalifornIa systrm Just what shis term is meant 10 imply has not been explained, but il would seem that the idea is that no Californian or any other promoter of mining en- terprise ought tc make money uut of hgs venture unless everyone else made an equai amount. In other words. oYe-.Eice New Workers, who would noi snd do not scruple 10 swim de their ueighbors by false infor- nation regarding railway shares think that diaeren, code of morals ought to ob.ain ID mining stocks. They have invested in certain ccmplnieS, some for the purpose of speculation and the great majority so!ely for legitimate business purposes. The howls come from the spectators, who have been beaten at their own game by men shrewdrr than themselves. If some Of Che small fry have held the bag while others have unloaded into 1t at hlgh prices. there is no reason why they should complain. Ifthey were 10 lose ten times as much in railway shares as they have lost in mines, there would be nothing said. Mining IS and always will remain essen tally speculative, and men cannot expect to make large profits without being subjected io correspondingly great risks. The " California system means that certain shrewd men make money while others lose, and is not peculiar to Inc Pacific Slope. The californiars who are here have made money. In organizing their com, panies they have taken in some of the best known men and largest capital ists in this city. and these latter have made as much, if not more, than the CaliforEians. When stuck goes down, it is the small-fry holders of 5C or 100 shares who make the noise. ani pot Inc holders Of l0O03 or 2O,OOO shares
 Mining a year sgo in this city was upon Q different basis than now. Then there were comparatively few stocks listed. The energies of promoters were directed 10 organizing companies and to securing subscriptions to their stocks. Now, few companies are be ing organized, and activity is mani. fested only in thcSlarcs of companies already organized The effort is to put n-,1@ price of stocks which have ma terrially declined from the subscrip ion prices. This means speculation and the extent 10 which it Is being carried is shown by the greatly increased dealings upon the exchange: during The past week. Some 400 ol 800 companies have officers in thi: city, with stock to the amount of al least $l2OO,O00,O6O or $1,5O0,OO0. .0OC outstanding. This affords basi, enough certainly for speculation. Al least 75,000 stockholders are inter ested in the ups and downs of tho market, snd the tendency is tC wider distribution of shares It is probable that the decline ir mining stocks during the past tiv, O. six months from the subscription prices amounts 10 $25,0OO000 to S3O, 000,O00. This is the apparent loss which the Eastern public have been called upon 10 bear The reaction now setting Tn will renew faith and conf dence, and establish the mining in- dustry still more firmly.
 New companies are constantly be ing placed upon the list of bullion producers. and before the close of thC year at least twenty five mines will be added 10 the dividend paying list This means that ,he number of divi dend-paying gold and silver miCes will be nearly doubled. Among the com. nanies now eiec,ia: new mills are the Bull Domingo, BaSSicK, Plata Verde Silver Cliff and Palmetto in Colorado the Olsen, Green Mountain. Auburn Rock Creek and Providence Con-, ir NAiAA'A sAiN AiiN N.NuAl t-A -AlILNNd. A1dl shaw, Mohave, Irene and Con Arizoua in Arizona; the Empire, in Utah, ans The Cromwell in North Carolina. Thi. list is of course incomplete, but i serves 10 show that these mines al least have reasonable hope of paying dividends soon. Fifteen or twenty additional companies gre negotiating for reduction machinery, and these will sooner or later be added to tho bullion producers. There is nothing like bullion to sppease stockholder, unless it is dividends.
 Another Leadville property has " pc tered" II is officially announced that all the rich ore bodies in the Annie mine, on Fryer Hin, have run into lew-grade ore. and that the $50.