The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-05-13

a veritable bonanza. 1t may lie re-
membered that it was former bonanza
that enabled the company TO be floated
on this market at million sterling.
| lay special stress upon Emma
affairs, and have done so since l first
had the honor OF communicating my
thoughts to your readers, because be-
lieve that for a considerable time to
come American mining affairs, as far as
| Great Britain is concerned, will largely
rise or fall by what happens in the
Emma mine. Ifihere should be great
success there, it would not be difficult
| for your countrymen (and our cousins
| to float numerous mines on this market,
cerely trust that they will not keep all
the good ones to themselves, but let the
| poor Britisher have a little of that
| mineral wealth with which vast por-
tions of your stupendous territory
TEEN.
may tell you that Emma shares, at
the time tie news began to spread,
were only So. Sd. each, but that they
are now nearly 8s., and this without a
single official word from the Office. l
also understand that large buying
orders came from New York. When
inquiry is made at the head Office, the
management speaks with bated breath
as to the discovery which the Mining
| World was the first to announce, and to
which it attaches importance. There
has also been a great demand for Flag
| stats, now undergoing the process of
reconstruction, which in former letters
1 have described. Professor Vincent is
still prophesying in its name, but it
must be owned that his predictions are
taking long time to fructify. Sierra
Buttes is not looking quite so well, and
only dividend of Cd. per share was de-
clared; but the dividend on the shares
of the sister mine, Plumas Eureka, was
3d." 'E
Is it becoming necessary, asks an ex-
change, for capital to combine, not
| against labor, but to compete success
fully with other capital? Are small in
vestors to be crowded out unless their
interests are bound up in corporate
organizations, and are the latter, unless
unusually strong, to be mere satellites
of the numerous pools, syndicates,
! trusts, etc., which have had such an
! influence on commerce, finance and
| manufactures during the past few years?
The tendency seems TO be entirely in
( this direction. and on some accounts,
and to very limited extent, the policy
| is not a bad one. For example, we
have trust companies which are as safe
! as laws and charters can make them,
which pay a small regular interest on
deposits and make their profit by loan
ing on mortgage or other security at
higher rates, acting simply as agents,
| when conservatively managed. Such
institutions are convenience in hand
ling estates, requests. annuities and for
small capitalists who, for the sake of
greater security and the avoidance of
worry about the choice of investments
are willing to accept reduced returns.
The trust companies have also the ad-
vantage of being managed by expert
| fnanciers, whose judgment and OPP
portunities are of course better than is
usually the case with the smaller in
dividusl operators. Now by no means
| new idea is being revived abroad in the
shape of trust investment companies.
to deal mainly In mines and mining
stocks. 1t is argued that subscribers
will gain by the division of chances
secured by spreading investments over
q large number of ventures, and that
what the companies lose in one direc-
ton will be made good by profits in
others. The scheme is to advance
money to float mining enterprises. and
to operate in the regular share markets.
It is doubtful, however, whether it will
/ work. Most similar trusts, when ap-
piled to the mining industry have had
| a shady history, and no matter how
respectable or, at least. well known the
! names of the managers may be, sad
experience will render investors
cautious in committing their money to
the hands of mining trust investment
concerns.
Concerning trade in the east, the
fastest sdvices from R. G.. Dun &, Co.
say it makes all the difference whether
the situation is observed by prophet
or photographer. The streets of New
York are full of prophets. who see sure
indications, favorable or unfavorable,
and the prevailing impression regard
ing the future is decidedly hopeful.
! But the facts as they stand disclose an
uncertain state of business; slight i'm
proyement in some branches, increas-
| ing depression in others, but hesitation
and waiting on all sides. The net result
has been a little advance in prices of
securities. with considerable decline
| 10 prices of commodities.
Anxieties about money have been dis.
| PEELED BIZ Treasury purchases of bonds,