The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-11-06
POLLOCk'S LETTER.
Weekly Review of the Local Mining
Share Market.


This market has been wholly neglect
ed for the current week and until the
smoke of the political battle is cleared
away there will be no activity. l looH
for improved conditions in investment
circles and anticipate steady demand
Tor good dividend paying stocks regard.
less OF the metals produced by the
mines. There is a general belief thai
silver stocks will decline, but if they
do ii will be due to sentiment and not
at all warranted by any changed con-
ditions in the price of the white metal
On accepted authority it is announced
that the Russian government is in the
market for 500,000,000 ounces of silver
and in view of the fact that the silver
coinage of the world in 1895 was great
er than the total production the outlook
for silver is not as discouraging as the
| first view would indicate. l look for
silver to sell nearer seventy cents than
sixty cents by the first of the coming
year.
AS has been the case for the past sew
eral weeks, Ajax was strong and the
| transfers made were at figures not low
er than those of the previous week.
| Conditions at the properties continue to
be most gratifying, and indications are
that the stock is going higher. AIli-
ance and Anchor were weak, with prac-
b-Soiiy iiOtAliiS
Beck registered no change in either
way. A rather important development
on the 800 foot level is reported, but
the work done has not as yet demon
strated the extent of the strike. The
directors are expected to take up the
matter Of dividends for this month next
week. Observation-Disclosures was also I'M
changed, with very light offerings for
the stock. Properties are making a
] good record of r1rO6Infinn in
splendid condition.
! Daly-West was offered slightly lower,
although the demand for the stock was
heavy, with no great offerings. It's
neighbor, the DAILY, was about station
airy. With the coming of the quarterly
dividend, which is due this month,
should come a decided strengthening
in this security. Both of the Days are
doing we'll. Dalton and Dalton & Lark
were quiet, with weaker tendencies.
! East Golden Gate was a drug on the
market at last weeks figures, the tenn
porary demand having evidently been
satisfied. The bottom of the drill hole
is now reported to be some 900 feet I'M
der ground, with no ore showing
The work of charging the milling ca
pacity OF the Geyser is now under way.
The stock did not reflect the changes
for the better in the condition of the
company's affairs, there being only a
limited demand. 1t is expected that the
Galena board of directors will order
the usual monthly dividend on the 9Th.
| Some good shipments are coming from
the mines. Notwithstanding the i'm
provements a t the Horn Silver, the stock
continues inactive. The company has
only paid one of its dividends thus far
| during 1896, and until payments are re-
sumed there will be little doing in the
security. A payment should be made
! in December. Lucky Bill is reported
to be getting some good gold ore out of
the three-foot vein recently en-
countered.
Mercur will declare it's November
dividend on the 9th. The stock was
much stronger and made good adj
vances. The indications are that the
start has only commenced, and l look
for much higher figures on this stock
before the end of the year. At the
/ mines the ore showing is immense, and
the company is in adrnira bic condition.
Reawakened fears for the Mammoth $
November dividend caused that stock
to weaken very materially, offerings
| being made at lower figures than for
some months. The company is not
shipping as heavily as is necessary to
make healthy dividend payments and
meet accrulnS machinery accounts and
the dividend for this month NAV be
dend on the last day of October Swan
sea will pay its November dividend of
cents on the 18th. Both it and South
swansea were slightly shaded. Latest
reports from the Sunshine are of an
encouraging nature. The ore show
ing continues to improve while the
saving at the mill is satisfactory. Sun
beam did not change. Utah came on the
market with shipment of very high
grade ore and the mines are looking
well. A number of improvements are
being made to facilitate operations.
Another change for the better at the
Tetro is reported. Gold Dust is look
ing remarkably well and an immense
amount of ore is being blocked out.
Assignment of the Golden Sceptre.
Inter-Mountain, Butte, Mont: The
financial troubles of the Golden Sceptre
Mining company, the first mention of
which appeared in the columns of the
InterM Mountain, eliminated yesterday
in the assignment of the company
The assignment was made to Col
burn & Brown of Philadelphia for the
benefit of eastern creditors, and the
amount was $2S5,00O. Colburn is the
president of the Golden Sceptre COM
pany, and recently made a visit to the
There is large number of local
creditors. Brabazon & Co. of Quigley
placed an attachment on the property
for So, GOO, Featherman & Co. for 81 200
and Nelson Story for $1,000. The con-
fession Of judgment was filed with the
clerk of the court at 1908 o'clock, while
the attachment of rabazon & Co. was
filed at 1905 o'clock. 1t is said there
was difference of three minutes in
the two clocks in the office of the clerk
of the court and the Office of the clerk
and recorder, and as this would make
it tie, the courts may be called upon
to decide the point.
1t has been known for some time that
the company was in difficulties. The
stockholders are wealthy eastern men,
but it seems they are dissatisfied with
the local management of the COM
pany's properties. Although the plant
and mines are estimated to be worth
at least half a million dollars, the
stockholders were tardy about putting
up money. One or two pey-days were
passed because there was no money to
meet obligations, and it was only when
the property was threatened with at
tachment by the employees that the
money was forthcoming.
The mines are known to be very val
liable, and it was supposed the big
mill erected this season would be in
operation by the middle of the present
month. Just what effect the present
proceedings will have on the operation
of the properties this year is not
known. 1t is limited that the proceed
ineS were instituted for the Durnose of