The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1895-12-12
MINES AND WHINING
Mining Exchange for Salt Lake
Story of Oregon Gulch-Min-
ing Notes


Lake City is assured, and the formal
dedication of the pit to bull and bear
is among other important events that
are billed for New Years day.
The movement to that end. which
was quietly inaugurated but twenty
four hours before, yesterday met with
the most cordial Endorsement and
while a person or two antagonized it.,
the opposition was too feeble to count.
There is one condition that is uniVer
sally exacted, however-that it shall
be booked, differed and managed by
reputable and responsible men, and
that under no circumstances shall the
doors be opened to the wildcat
No man can withhold his approval
of sentiments expressed by those who
favor such an institution through the
columns of The Tribune yesterday
morning." said Mr.. Frank Druehl of
the Dalton Gold Mining company. 1T
is easier to make a success of a mining
exchange than u failure. There is no
more excuse for admitting a stock that
is without merit than there is for ex
tending credit to the individual who is
not entitled to it. It's a safe thing to
close your doors upon both. The one
thing necessary to the maintenance of
an exchange that starts out in the
right direction is an incorruptible list
ing commttee. They are to be the
judges, and with honest men and men
of experience upon it there is no more
danger of bad stock getting on the
board than there is of spurious note
getting into a bank In my judgment
we need something through which to
call the attention of capital to our re-
sources, and | can think of nothing
more effective than the proposed eX-
change"
Letters received by me from New
York today" said President Franklin
of the Yosemite and other mines, "have
induced me to believe that a mining
exchange cannot be started any too
soon. | am informed that interest in
mining in New York is unprecedented,
that in London there has never been
so much trading in mining stocks, and
an exchange here will not only demon
strate that Utah is still on the map
but that it is prepared to protect the
investor by keeping in touch with the
mine or prospect on which the stock
is based"
"A mining exchange properly man
aged and it's stocks honestly listed"
said Col Wall "can be of great ser
vice to the public and to the properties
and prospects whose stocks are seek
ing public patronage. There is plenty
of capital right at home that is pre-
pared to take a chance at the good
things that have come and which are
coming our way, not to mention the
capital of the East. An exchange
properly organized and properly man
aged will accomplish much in pro-
noting the welfare of legitimate in
dustry"
II am in favor of an exchange" said
Mr.. e. II. Aris of the Mercur, with
a list of legitimate stocks, and, as Col
Donnellan remarked, with the walls of
the pit so high that the wildcat can't
climb them"
IAN exchange conducted on an hon
est basis" said Mr.. Thomas Pearson
of the Marion Mining company, lis a
good thing for any country, especially
one that has a future such as is as
sured in Utah. 1t will be absolutely
necessary to have an honest board be-
fore which the candidate for a place in
the list shall pass, and with that there
is no doubt of the permanency of the
exchange nor the merit of its stocks"
I'VE ought to have a good mining
exchange" said Col Heffron of the Nj
agara, land must have one before we
can get the place to which we are en-
titled in the mining world. There is
no more difficulty in keeping wildcat
stock from a mining exchange than
there is in keeping a thief out of your
kitchen. I'm in favor of it,
MessrS. Fred Leonard, Joe Gallagher.
Mayor-elect Glendinning, ]. C. Conkln
and a score of others expressed the
same sentiments. Those who have
taken hold of the matter will meet
next week and take steps to insure a
exchange for Salt Lake City as
one of the acquisitions of the new year.