The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-11-21

The condition of the stock market at
the present time is, to say the least.
very encouraging and leads to the be-
lief that from this time on there viii
be more than usual activity in mining
circles; and there is no doubt but that
this activity, which is gaining in vol
ume day BY day. is leading up to the
restoration of the confidence that is
absolutely necessary in order that the
stock and mining industry may be es-
tablished on a basis that must be
reached and maintained before this
country may truly be, said to be in
flourishing condition.
This increase of interest in mining
affairs cannot reasona bly, be attributed
10 the fact that a sound money" man
was the successful candidate in the
late campaign, but II can be traced
directly to the fact that there IS greaN
hope for the ultimate restoration of
silver to its rightful place by the side
of gold at just and equitable ratio,
and nothing has strengthened this hope
and belief more than the results OF the
recent election, which have demon
Strated the feeling Of the people on
this now all-absorbing subject, as 1t IS
the prevailing opinion that the cause
of silver is now the paramount issue
of the day. and that if the question is
not satisfactorily settled within the
next four years, that at the next cleo
lion the cause of the white metal will
sweep the country; and it is because
of this belief that thinking men are
now making investments in mining
properties; and il is for this reason
that there is a growing demand in
this city and the west for gilt-edged
mining sIocks-silVer as well as gold
and il is surely a good omen when it
can be stated that there is a greater
and more persistent demand for good
silver stocks than there is for gold
securities.
1t is true that there has been a great
er feeling of confidence in mining ana
business since the election than there
was before, but this is natural and
was looked for, as it always is the
case hat a national election has
demoraliZing effect on business and
trade; and it is also true that after
the result IS ascertaired that the
strings TO the money bags are I'M
loosened, and that public confidence
is to a certain extent restored; but it
is also fact that if capital had the
slightest reason to believe that the sill
yer and lead industry would in time
become practically annihilated 1t woald
not De IN a hurry Illu investment III
these Industries.
Within the past few weeks it is safe
to say that there has been more in
quiry for and investments in mining
properties and mining stocks in Utah
than has been the case during the past
three years. and it is a notable fact
that this demand has been very large
ly for good silver properties and silver
stocks; and today there is more ac-
tivity in most of our mining camps
than has been the case for several
years past; and this activity cannot be
attributed to the fact that there has
been any encouraging advance in the
metal market, nor to the fact that
there is soon to be a change in the
national administration, as this change,
with the known. sentiments of the chief
executive on the silver question is
enough of itself to discourage the in
dustry Of silver mining. 1t must be,
then, that there is something back of
all this. and there is-it is the
feeling that the ultimate outlook for
silver is brighter than ii has been for
the past four years. and the belief
that in the final outcome this country
will once again find prosperity on a
bimetallic basis. And it is this, and
this only, that is causing such per
sistent demand for stocks in promis-
ing silver and lead mines.
In looking over the list of stocks on
the board Of the Stock Exchange it can
readily he seen that in nearly every
one Of chem d gain has been noted
within the past two weeks, and where
there are exceptions the failure TO
advance may be set down to a lack of
confidence in the management Of the |
company, or in the property itself; but |
where the company is all right and the |
property what II should be, a steady |
advance has been recorded and there |
has been an increasing demand for |
these securities.
As an example of the confidence |
evidenced in the future of the silver |
industry il is only necessary to call /
attention &c the advances that have /
been made in such stocks as Ajax, !
Bullion-Becl, Centennial Eureka, DAILY, I
DAILY West, Ontario, Silver King Nam /
moth, Swansea. South Swansea. all of |
which are heavy producers and in most /
instances diVidend-payers: besides !
which there are many promising pros |
pective producers that are more than
usually active on the floor of the eX-
change
1t is fair to presume, therefore, that /
this confidence in the future of the !
mining industry is the result of the |
firm belief that in time, and that not |
far distant, the mining industry will !
be on basis as safe and even safer !
than any Other branch of trade or in /
dustry that any one could possibly |
engage in, and it is safe to say that |
there is no other line of business or
pursuit in which the returns are as |
great or larger rate of interest can
be secured on the money invested.