Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1880-04-22

Interview with . GensIepaan Lately
From New York.
A SENTINEL reporter Yesterday fell
across a gentleman lately from New York.
He is a well known mining man, and is Of
course thoroughly posted on the situation
in the East. When the reporter accosted
him he kindly said that he was perfectly
willing to yield up any information in his
possession, but he did not care to have his
name figure in a newspaper interview. The
reporter told him that he would be con-
tent with the information in any form.
"Well," he answered in response to .
general question relative to the status Of
mining and mining stocks, "the feeling
over stocks is not such as we have been led
to suppose by the kilograms and reports
which have come to us. They are not crazy
over mines. At the same time there is q
greatly increased interest being taken by
capitalists in mining properties"
Colorado, of course" he continued,
"has the call. 1t is difficult to get the East
ern people to talk about any other section.
Colorado got up the boom and people some
how will not look beyond. We cannot ex-
pect much farther west until Leadyille has
had its day. The interest awakened, how
ever, will be Of great benefit to the mining
interest generally. Some capital is now
drifting this side Of the Rocky mountains,
and in the end we will get all that is needed
to develop our resources"
"How stands Eureka" queried the
reporter.
First class. No other camp in Nevada
stands half 30 well. The wonderful re-
sources Of your district are becoming
widely known, and Eureka as q favorable
field for investment is being much talked
Of. II the boom extends beyond Colorado
this year Eureka will catch more Of it than
any other place, though Utah and Arizona
have many friends in the East. But you
may rest assured that the fame Of your
district will not fade, and sooner or later
you will have cash purchasers for all OF
your promising mines that may be for
SALE"
What about the modus operandi Of
selling mines in New York
"That is something which varies accord
ing to circumstances. Some are sold to
friends, and others are taken by pools Of
private parties. The usual method, how
ever, is to do the business through . syn
dictate. A company is incorporated, and
the stock placed in the hands of brokers.
These brokers are given immense commits
sions, in some instances as much as one
fifth Of their gross sales. They fly around,
being SO largely interested, and work off
the shares rapidly. The sales in the Stock
Boards are comparatively light. Most of
the work is don't through brokers on the
street and private solicitors. The Stock
Exchange has not yet developed any great
amount OF strength, though it is thought
the new Board will materially help mat
tiers. At all events, they do not begin to
come up to San Francisco in the stock
business. There are no banks in New York
that will advance a dollar on the most APP
proved mining security. This naturally
stiles the growth Of stock speculation. All
Of the old Pacific Coasters over there sigh
| for the San Francisco method. The new
Trust Company, just organized to advance
money on mining stocks, it is thought will
give an impetus to stock dealing and very
| greatly improve the market and general
mining situation"
Thanking the gentleman for his kindness
in stating the case so fully, the reporter
made off in search of other items Of e