St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-12-04
THE MINING CRAZE.
A ConIinuaIion of the Excitement
in Sam Francisco Yesterday.

SAN FRANCISCO, Dec. S.-Those who
hoped that the morning would prove
brighter than last nights close on the min
ing exchange were disappointed. From an
! early hour the approaches to the two ex-
changes were crammed with an excited
crowd, eager to learn the news of the first
call and which, to them, would bring its
happiness or disnay. They had not long to
wait, for the San Francisco boards met
promptly at $50 o'clock. and a few min
utes later Consolidated Virginia ran out
at 40. quickly followed by drop to SO.
Best & Belcher, which closed last night
at %. opened this morning at 81 and in
few minutes went to 20. The bears are
making a savage onslaughter on these two
stocks. but the opinion of the street Ia the
bulls are too strong. and the bears will
show an Improvement, the bears devoting
less attention to them. Savage. which
closed at 1878 last night opened at 16,
and further improved to II. Chollar
gained six bits going to $50, and Potosi
jumped from 6.S7% to 9. and then to
1G.S775. Ophir was the only North End
stock which showed an improvement,
opening at $500. with further jump
few moments later to $3.50. Over S4.-
000, 600 have been withdrawn from the
City Saving banks during the last ten days,
every cent of which has gone into stocks.
This shows that the laboring classes are
taking hand in the deal. The failures of
Robert Z. Morrow. prominent capitalist,
John Mackenzie, stock broker, and Kull-
man q Co., brokers. were announced to-
day. Morrow, who for many years has
been a prominent figure of this city, has
been selling ''calls' on stocks, and
the boom in prices entailed
loss to . him of $3.50, 600.
He claims to be still worth $1,000, 600 over
liabilities. MackenZie's losses are 500. 900.
Kullman eco. say they lost S25, 900. They
expect to reopen in few days. The fail
ure made no impression on the market. At
an informal session of the Pacific exchange,
held at 8 O'Clock, prices improved on the
morning. Consolidated Virginia went to
AZ, Gould & Curry 10, Sierra Nevada 1850
and Alpha 6. The San Francisco board
will only hold one session tomorrow, the
same as to-day, so as TO give the brokers
further opportunity to enter up their books.
On the San Francisco exchange yesterday
100000 shares changed hands during the
two hours, the heaviest recorded for ten
years.
NEW 1ORhs OcC. o. uo UOOm III IHe
mining stocks continued to-day on some
what diminished scale and the speculation
turned for the time from the Comstocks to
the low priced securities. Among these
the most active to-day were the State Line
Shares. Oriental & Miller Silver Cliff and
Central Arizona. all of which advanced
from 10 to Is cents to-day. The heaviest
trading was in Sutro Tunnel. but the adj
vance brought out so much stock that a
decline of cents was recorded from the
closing sales of last night.
HoT SPRINGS, Ark, Dec. 3.-Nearly
every available tract of land within ten
miles of Bear mountain has been taken up
and located under the mining laws. Devel-
opments in the lead and silver mines of
this section have caused much excitement.
Reduction works are going up, and the
palmiest days of Western mining excite
ment are being reproduced.